Not paying student loans can significantly affect your credit score, causing it to drop and limiting your ability to secure future loans or credit. Failing to make timely payments can lead to negative marks on your credit report that linger…
A good credit score to buy a car typically falls in the range of 700 to 750 or higher. Achieving a score in this range can significantly improve your chances of securing favorable loan terms and lower interest rates, which…
Soft pulls do not affect your credit score. Unlike hard inquiries, which can temporarily lower your score, soft pulls are utilized for various purposes such as pre-approvals and personal credit checks without impacting your overall creditworthiness. Understanding the nature of…
A good credit score number typically falls between 700 and 749, indicating that you’re a reliable borrower. This range suggests to lenders that you are likely to repay loans on time, which can significantly improve your chances of securing better…
Yes, consistently making only minimum payments can negatively impact your credit score over time. This is primarily due to how credit scoring models evaluate your financial behavior, particularly your payment history and credit utilization. In this article, we will delve…
A decent credit score typically falls within the range of 700 to 749, indicating good creditworthiness. This score can help you secure loans and favorable interest rates, making it essential to understand what contributes to it. In this article, we’ll…
Medical debt can indeed affect your credit score, but the degree and circumstances vary. In many cases, medical debt is treated differently than other types of debt, and its impact may lessen over time. Understanding how medical debt interacts with…
Requesting credit can indeed affect your credit score, but the impact varies based on the type of inquiry made. A hard inquiry, which occurs when you apply for credit, can slightly lower your score for a short period, while a…
To buy a house, you’ll typically need a credit score of at least 620 to qualify for most conventional loans. However, different lenders may have varying requirements, and scores above 740 often lead to better interest rates. Understanding the nuances…
A DUI (Driving Under the Influence) can indirectly impact your credit score due to the financial burdens associated with such a conviction. While a DUI itself does not show up on your credit report, the resulting expenses—such as fines, legal…
Lowering your credit limit can negatively impact your credit score. This occurs because your credit utilization ratio—the amount of credit you are using compared to your total available credit—can increase when your limit is reduced. A higher utilization ratio may…
Yes, refinancing can indeed affect your credit score, both positively and negatively. While the process may lead to short-term dips in your score due to hard inquiries and changes in account age, it can also pave the way for long-term…