Credit Scores & Reports - MoneyTips https://moneytips.com/credit/credit-scores-reports/ Finally, money tips that make cents. Mon, 19 Dec 2022 21:06:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 How Do Tax Liens Affect Your Credit Score? https://moneytips.com/credit/credit-scores-reports/how-do-tax-liens-affect-your-credit-score/ Thu, 04 Aug 2022 02:12:07 +0000 https://moneytips.com/?p=11493 What’s worse than paying taxes? Being the recipient of a tax lien. The government can put a tax lien on your property if you fail to pay your taxes, allowing them to legally seize your assets – including your home. The good news is that since 2018, federal and state tax liens no longer appear...

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]]> How Many Types of Accounts Should I Have on My Credit Reports? https://moneytips.com/credit/credit-scores-reports/how-many-types-of-accounts-should-i-have-on-my-credit-reports/ Mon, 04 Apr 2022 19:30:03 +0000 https://moneytips.com/?p=7355 There’s no question that paying your bills on time is the most important rule to follow when it comes to earning great credit. Yet even a flawless payment history won’t result in the perfect credit score. Believe it or not, 65% of your FICO® Score has nothing to do with whether you make your monthly...

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]]> Credit Locks vs. Credit Freezes — What’s the Difference? https://moneytips.com/credit/credit-scores-reports/protect-your-identity/credit-locks-vs-credit-freezes-whats-the-difference/ Mon, 04 Apr 2022 16:01:29 +0000 https://moneytips.com/?p=7303 Are you concerned about keeping your credit information safe from identity theft? You should be. It seems data breaches and scams designed to hoodwink the public are becoming more common. According to the Federal Trade Commission (FTC), they received fraud reports from 2.8 million consumers in 2021 (an increase of over 70% from 2020), with...

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]]> How To Check Your Free FICO® Score (and Every Other Free Credit Score) In Under 5 Minutes https://moneytips.com/credit/credit-scores-reports/check-free-fico-score-every-other-free-credit-score/ Mon, 04 Apr 2022 15:20:49 +0000 https://moneytips.com/?p=7283 You may have never heard of the Fair Isaac Corporation, but it’s heard of you. And it influences much of your life, from your mortgage’s interest rate to your ability to qualify for great credit cards. That’s because Fair Isaac invented the FICO® Score, a number used by lenders to evaluate your creditworthiness. Since the...

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]]> Mobile Wallets vs. Digital Wallets: What’s the Difference? https://moneytips.com/credit/credit-scores-reports/protect-your-identity/mobile-wallets-vs-digital-wallets-whats-the-difference/ Mon, 04 Apr 2022 13:58:37 +0000 https://moneytips.com/?p=7062 We’ve got 3D printers. Teslas. Computers that can beat humans at chess. And yet in the United States, most of us are still using chip-and-signature credit cards and cash. It’s a new decade — shouldn’t we be paying for groceries with our eyeballs by now? Yes, and we’re almost there. Mobile wallets, which are already...

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]]> What Is an Excellent Credit Score? https://moneytips.com/credit/credit-scores-reports/what-is-an-excellent-credit-score/ Fri, 01 Apr 2022 19:18:45 +0000 https://moneytips.com/?p=7163 When a lender wants to know how likely you are to repay your loan or credit card balance, it looks at one of your credit scores. This three-digit number represents whether you’re an excellent credit risk, a poor risk, or somewhere in-between. If you have an excellent credit score, credit card issuers and lenders are...

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]]> What Is a Good Credit Score? https://moneytips.com/credit/credit-scores-reports/what-is-a-good-credit-score/ Fri, 01 Apr 2022 16:30:43 +0000 https://moneytips.com/?p=7035 Your credit scores are important. They indicate how risky you are as a borrower of money (i.e., how likely you are to pay your bills). The most common scores range from 300 – 850. So what’s a “good” credit score? A good credit score typically refers to a score of at least 670 with FICO®...

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]]> What Is a Data Breach? What Should I Do If I Am a Victim of One? https://moneytips.com/credit/credit-scores-reports/protect-your-identity/what-is-a-data-breach-and-what-should-i-do-if-i-am-a-victim-of-one/ Thu, 31 Mar 2022 21:24:12 +0000 https://moneytips.com/?p=6915 On average, a cyberattack occurs every 39 seconds and with a steady track record of mass digital data breaches since the first in 2004, hackers don’t seem to be slowing down. Although cyber criminals have a tendency to target larger companies, millions of customers can be placed in the line of fire by association. For...

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]]> Monitoring Your Credit Reports https://moneytips.com/credit/credit-scores-reports/monitoring-your-credit-report/ Thu, 31 Mar 2022 18:41:39 +0000 https://moneytips.com/?p=6797 You can monitor your creditworthiness by checking your credit scores and reports every year. Some credit card companies and banks allow you to see your credit score daily. Credit score vs credit report A credit score indicates how you handle debt, while your credit report reveals details about your credit history. Credit reports provide personal...

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]]> How Your Debt-to-Income Ratio Affects Your Eligibility for New Credit https://moneytips.com/credit/credit-scores-reports/how-your-debt-to-income-ratio-affects-your-eligibility-for-new-credit/ Thu, 31 Mar 2022 17:34:18 +0000 https://moneytips.com/?p=6772 Looking for a loan, but not sure if you’ll qualify? Wondering how you can look your best on the application and what lenders are looking for? When you apply to borrow money, lenders look at a number of factors as they decide whether to approve or deny your request. One factor, called your debt-to-income ratio,...

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]]> How To Protect Yourself From Credit Card Fraud: Scams, Skimmers, and Phishing https://moneytips.com/credit/credit-scores-reports/protect-your-identity/how-to-protect-yourself-from-credit-card-fraud-scams-skimmers-and-phishing/ Thu, 31 Mar 2022 16:37:52 +0000 https://moneytips.com/?p=6749 The Federal Trade Commission reported that people lost more than $5.8 billion to fraud in 2021, an increase of more than 70% over the previous year. And the problem shows no signs of getting better. While there may never be a shortage of scammers and fraudsters vigilantly working to steal your personal information, there are...

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]]> FICO® Score 10: Everything You Need to Know https://moneytips.com/credit/credit-scores-reports/fico-score-10-everything-you-need-to-know/ Thu, 31 Mar 2022 03:28:37 +0000 https://moneytips.com/?p=6650 The year 2020 will be burned into our collective memory for many reasons. It was a year filled with headlines. So, if you missed it then, the financial news highlighted that FICO® released its newest credit score, the FICO® Score 10. Nonetheless, FICO®’s newest credit scoring system (the FICO® Score 10 Suite) is noteworthy in...

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