loader from loading.io

New Year's Resolution: Improve Your Credit Score

The Credit Pros Podcast

Release Date: 01/13/2025

New Year's Resolution: Improve Your Credit Score show art New Year's Resolution: Improve Your Credit Score

The Credit Pros Podcast

To improve your credit score in 2016, check your free annual credit report, pay bills on time, manage credit cards wisely by paying off debt and not closing unused accounts, and spend within your means to keep credit utilization low.

info_outline
Creación de crédito estudiantil: cómo generar crédito como estudiante show art Creación de crédito estudiantil: cómo generar crédito como estudiante

The Credit Pros Podcast

Como estudiante universitario, construir crédito implica responsabilidad y manejo inteligente de herramientas financieras como préstamos estudiantiles, tarjetas de crédito y pagos puntuales. Los beneficios incluyen tasas de interés más bajas y calificar para futuros créditos. Se recomienda solo tomar préstamos necesarios, pagar deudas durante la escuela, usar tarjetas de crédito con prudencia y convertirse en usuario autorizado en cuentas de padres responsables financieramente.

info_outline
Boosting Credit Score For First Time Home Buyers show art Boosting Credit Score For First Time Home Buyers

The Credit Pros Podcast

Boosting your credit score is crucial for first-time home buyers to secure better mortgage terms. Understand credit score factors, avoid common pitfalls, take strategic actions to improve your score, and consider professional credit repair services. This guide provides essential tips and steps to enhance your credit health and secure favorable mortgage conditions.

info_outline
Recognizing The Signs You Need Credit Repair Services show art Recognizing The Signs You Need Credit Repair Services

The Credit Pros Podcast

The article discusses signs indicating the need for professional credit repair, such as loan denial, fear of credit reports, debt collector calls, credit card application rejections, and a desire for financial change. It advises researching reputable credit repair services and highlights actions that harm credit scores, the purpose of credit repair, and the duration closed accounts stay on credit reports.

info_outline
Denying Loan For 850 Credit Score-What To Do- Thecreditpros show art Denying Loan For 850 Credit Score-What To Do- Thecreditpros

The Credit Pros Podcast

Despite having an 850 credit score, loans can be denied for reasons such as insufficient income, high debt-to-income ratio, unstable employment history, lack of savings, and past late payments. After rejection, one can find another creditor, get a co-signer, recover financially, or review and dispute credit report errors. A reconsideration request can be made if an error was found in the application. It's important to avoid financial changes while a loan application is pending.

info_outline
What Happens When You Cosign On A Loan? - The Credit Pros show art What Happens When You Cosign On A Loan? - The Credit Pros

The Credit Pros Podcast

Co-signing a loan involves risks such as assuming full payment responsibility, damaging your credit, impacting your ability to get future credit, facing legal issues, possibly losing property, and harming personal relationships. It's advisable to co-sign only if you can afford the risk, it benefits both parties, or you genuinely want to help the borrower. Alternatives include helping with a down payment or lending money directly. To protect yourself as a co-signer, communicate with the lender and borrower, track payments, and manage risk by preferring smaller, short-term loans.

info_outline
Ahorre dinero con préstamos para estudiantes: dos formas sencillas show art Ahorre dinero con préstamos para estudiantes: dos formas sencillas

The Credit Pros Podcast

Para ahorrar en préstamos estudiantiles, incrementa los pagos mensuales o refinancia a una tasa de interés menor. Aumentar los pagos reduce el tiempo y el interés total pagado. Refinanciar puede disminuir el porcentaje de interés y el costo total del préstamo. Ambas estrategias pueden resultar en ahorros significativos a lo largo del tiempo.

info_outline
Damon Decrescenzo sobre el podcast del CEO de 7 figuras show art Damon Decrescenzo sobre el podcast del CEO de 7 figuras

The Credit Pros Podcast

Damon DeCrescenzo, CEO de The Credit Pros, ha sido entrevistado en el podcast 'CEO de 7 cifras' de Casey Graham, discutiendo su amplia experiencia emprendedora y compartiendo estrategias para construir un equipo fuerte y lograr el éxito empresarial. La empresa sigue creciendo, lanzando una aplicación móvil y expandiendo su equipo.

info_outline
Cómo reducir su tasa de utilización de crédito show art Cómo reducir su tasa de utilización de crédito

The Credit Pros Podcast

La tasa de utilización del crédito es clave para los prestamistas al evaluar la capacidad de un individuo para manejar deudas. Mantener una baja tasa de utilización, idealmente inferior al 30%, demuestra responsabilidad crediticia. Pagar saldos, mantener cuentas con saldo de $0 y saber cuándo se reporta la deuda a las agencias son formas de optimizar esta tasa. Damon DeCrescenzo ofrece consejos para manejarla incluso sin poder pagar la totalidad de la deuda.

info_outline
Do All 3 Of Your Credit Scores Matter? - Get Cleared show art Do All 3 Of Your Credit Scores Matter? - Get Cleared

The Credit Pros Podcast

Contrary to popular belief, individuals do not just have three credit scores but many, depending on the model and version used by lenders. While you have three credit reports from Equifax, TransUnion, and Experian, scores vary across different brands like FICO and VantageScore, and are tailored to specific industries. Scores are static until requested and can differ across bureaus due to the unique data each holds. Mortgage lenders often check all three scores, while other lenders may check only one, so maintaining good credit across all reports is crucial. Most lending decisions favor FICO...

info_outline
 
More Episodes
To improve your credit score in 2016, check your free annual credit report, pay bills on time, manage credit cards wisely by paying off debt and not closing unused accounts, and spend within your means to keep credit utilization low.