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Credit Scores Reports

I have a credit score of 650 and need to re-establish my good credit. I won't carry a balance. Please advise regarding the credit card I can qualify for.

I'm glad to hear that you won't carry a balance, and even happier to hear that you're planning to re-establish your good credit. It's all too easy to get discouraged and figure, "Why bother?" And two good reasons to bother are that first, credit scores tend to go up if you're demonstrating good financial habits, and [...]

I'm 27. I let my parents borrow my credit card five years ago and they haven't kept up with the payments. I don't have a job and can't pay the amount that I owe. What should I do?

Question: I'm 27. I let my parents borrow my credit card five years ago and they haven't kept up with the payments. I don't have a job and can't pay the amount that I owe. What should I do? Answer: First of all, I feel for you. I did something similar when I was 23 with [...]

My credit record isn't the greatest due to financial problems and significant medical bills. What's the best way to rebuild my credit rating?

Question: My credit record isn't the greatest due to financial problems that I've had in the past. I've also racked up a significant amount of medical bills due to medical problems that I've had in the last 3-4 years. What would be the best way to rebuild my credit rating, and secondly will unpaid medical [...]

How can I increase my credit score by 50 points in six months?

Question: How can I increase my credit score from 650 to 700 in six months? Answer: Let's go right to the source of that credit score, which would be one of the three major credit reporting agencies - TransUnion, Experian and Equifax. Heather Battison, education director for TransUnion's consumer products, told me, "It's impossible to know if [...]

What is a credit score and why is it useful?

Question: What is a credit score and why is it useful? Answer: Your credit score is a number that represents your creditworthiness. There are a few different systems for calculating this number, but the FICO score is the number that is most often used by lenders. The FICO score was developed by Fair Isaac and Company [...]

My FICO score is 703. Does this qualify as excellent credit?

Question: My FICO score is 703. Does this qualify as excellent credit? Answer: A few years ago, a credit score of 703 carried more clout than it does right now. Today, an excellent credit score is a little higher and is usually defined as 750-850. Some credit card issuers might still consider a credit score as [...]

What is considered excellent credit?

Question: What is considered excellent credit? Answer: This is a terrific question: unfortunately, there really is no exact answer because the term "excellent credit" is completely subjective. That being said, let me try to shed some light on the topic of credit scores in general, which may help you get a better idea of what excellent [...]

What factors determine the credit limit you get on a new credit card?

Question: What factors determine the credit limit you get on a new credit card? Answer: This is a great question, and the answer is simply that your credit limit is based mostly on your credit score. A couple of important factors a creditor considers are your income and your ability to repay. So not only [...]

How long does it take to establish a good credit score?

Question: How long does it take to establish a good credit score? Answer: Your question is rather loaded as there are so many variables associated with the answer. To start off with, you need to define what a good credit score is. Understand that any negative comment will remain on your credit report for usually 7.5 [...]

My Credit Score Is 723. Is That Good or Bad?

Question:  My Credit Score Is 723. Is That Good or Bad? Answer:  A credit score of 723 is certainly not a bad score. But determining how good it is can be difficult to answer in today's environment. The ups and downs of the economy have a lot to do with what's viewed as an "excellent" rate. The [...]

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