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Credit reports are a detailed history of your credit use. The data in them is used to calculate your 3-digit credit scores. When you apply for a credit card, apartment rental, mortgage or car loan, two things help would-be lenders assess the likelihood that you'll pay as agreed: your credit scores and credit reports. Your credit reports hold detailed information about your past use of credit. That data then gets calculated into a simple number representing your creditworthiness — a credit score. Think of reports like a medical record, which lists facts such as symptoms and test results, and scores as the resulting diagnosis. Good…

Get started as an authorized user, or with a credit-builder loan or secured credit card. Building credit can be tricky. If you don’t have a credit history, it’s hard to get a loan, a credit card or even an apartment. But how are you supposed to show a history of responsible repayment if no one will give you credit in the first place? Several tools can help you establish a credit history: If your aim is to get a credit card, you could start with a secured credit card or co-signed card, or ask to be an authorized user on another person’s card. If you want to…

Several factors affect your credit scores, especially on-time payments and how much of your credit limits you use. Your credit scores are determined by several factors, such as whether you pay bills on time and the length of time you've used credit. Understanding what factors affect credit scores helps you plan the most effective way to build your credit or protect it. Credit scoring companies calculate your scores from data in your credit reports. While they won’t reveal their exact formulas, they share the basic ingredients they use to calculate scores. Why do you care? Because your credit often holds the key to other parts of your…

The 2020 Millennial Home Buyer Report shows how this generation is not really any different from previous ones when it comes to homeownership goals: “The majority of millennials not only want to own a home, but 84% of millennials in 2019 considered it a major part of the American Dream.” Unfortunately, the myths surrounding the barriers to homeownership – especially those related to down payments and FICO® scores – might be keeping many buyers out of the arena. The piece also reveals: “Millennials have to navigate a lot of obstacles to be able to own a home. According to our…

Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home. The best part is, once you’ve secured the materials, most of these renovations can be completed over the course of a weekend. And they don’t require a lot of specialized skills or experience. So grab your toolbox, then get ready to boost your home’s appeal AND investment potential! Spruce Up Your Landscaping Landscaping improvements can increase a home’s value by 10-12%.1 But which…

Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.1 Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season.2 But given safety concerns and the current economic…

These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month. Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals. Refinance Your Mortgage - For prime borrowers, mortgage rates are at or near historic lows. Depending on your current mortgage rate and the terms…

Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home. We’re all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways you can modify your home and your lifestyle to make the best of this difficult situation. Here are a few tips for creating comfortable and functional spaces within your home for work, school, and fitness. We also share some of our favorite ways to stay connected as a community, because…