Does Debt Consolidation Hurt Your Credit?
Debt consolidation can have long-term benefits if you stick to your plan. It can improve your situation, but there’s also the possibility consolidation can lower your credit score. To answer the question, “Does debt consolidation hurt your credit?”, we’ll look at the...
How to Get an 850 Credit Score
On most credit scoring models, the highest credit score possible is 850. To maintain good credit, it’s important to understand how these scoring models work. Your payment history accounts for 35% of your credit score, credit utilization 30%, length of credit history...
What Is the Lowest Possible Credit Score?
A low credit score can make it difficult to obtain a new credit card or qualify for a personal loan, car loan, or mortgage. You may pay higher interest rates, fees, and down payments and security deposits. Most credit scoring models go as high as 850 but, using FICO...
How Long Does a Foreclosure Stay on Your Credit?
When you have big financial decisions looming, you may feel haunted by your credit history. American Credit can help with credit repair, so you can qualify for a home loan, buy a car, or increase your odds of being hired. A question our clients often have is, “How...
Mortgage Pre-Approval Checklist
By the time you want to make an offer on a house, you should have already been pre-approved for a mortgage loan. Sellers usually expect a buyer to have a pre-approval letter. If you prove you can obtain financing, they’ll probably be more willing to negotiate. Being...