I am completely debt free. I own my car, my house, and I have absolutely no student loans. I never plan to borrow another dime in my life, but I still worry about my credit score. Initially, this might seem like an odd statement, but your credit score is more important than you might think. It is used for far more than just getting a loan on a car or house. In fact, there are four great reasons to keep your credit score as high as possible.[Read more…] about Your Credit Score Is More Important Than You Think
Your credit score is one of the most important numbers you will ever have in your life. It is like your old GPA (grade point average) from school, except for your money. Banks, credit card companies, lenders, employers, and landlords can use your credit history to decide if you get a new account, loan, apartment, or even a job. At the same time, it can save you tens of thousands of dollars on a mortgage loan. Here is everything you need to build an excellent credit score, and how you can understand and use it.[Read more…] about Credit Scores: The Complete Beginner Guide
We commonly hear about why it’s important to monitor your credit report and score. This can be understandable once you’re established in a career and growing your wealth but it’s just as important, if not more so, when you’re young as something negative on your credit report can impact you in a number of ways. Added to that, there have been a number of security breaches recently. Remember Target? It’s things like that which should cause you to be mindful of your credit report as early as you can. Outside of security scares, hopefully, the following reasons should encourage you to watch over your credit report regularly. [Read more…] about 3 Reasons Why You Want to Watch Your Credit Report Starting at a Young Age
A Narrow Bridge Finance reader recently wrote me with a question that made it clear he is in a very tough spot. His Dad opened up a credit card under his name. As it is his Dad, and not a stranger, this is not your typical identity theft situation. Here is what was going on, and how to deal with identity theft by your mother, father, or another family member.
This past weekend, I spent four days at the Financial Blogger Conference to get ideas for making this site better for all of you. While there, I was interviewed by credit reporting agency Experian. They asked me about starting out with credit for college students and young professionals.
Have you ever wondered how bankers decide whether or not to approve a loan? Have you ever been rejected for a loan? Are you interested in a new loan sometime in the near future? If so, you should probably know a bit about how bankers underwrite loans to decide whether to approve or deny prospective customers.