Why bad credit doesnโt have to be a life sentence
JACKSONVILLE, Fla. โ No matter if theyโre bad or good, credit scores affect everyoneโs lives. Still, for many people, by the time theyโve learned the importance of having good credit, it may be too late. If you want to build credit but need some help living within your means, Svoboda recommends getting whatโs called a secured credit card. But unlike a debit card, a secured credit card builds credit. Because a bad credit score doesnโt have to be a life sentence.
Free credit monitoring now available to active duty military
JACKSONVILLE, Fla. - With what seems like a new data breach every month, credit monitoring is a sound investment. Fortunately for active duty military and National Guard members, they won't have to pay. As of Oct. 31, three credit reporting agencies Equifax, Experian and TransUnion are provided the service completely free of charges. To take advantage of the program, just sign up for credit monitoring through each of the credit reporting firms. On each of their websites, there's a link for eligible service members:Experian | Equifax | TransUnionIt's that simple.
Coming soon: New ways to improve your credit score
Under the current method, your credit score is mainly determined by how well you pay back your debts, including credit card and mortgage payments. By adding more criteria to how the credit score is calculated, young people with thin credit histories and those with low credit scoresโabout 100 million peopleโcould see a modest improvement. One of the three big credit rating agencies, Experian, will soon offer what it calls Experian Boost, which will look at utility payments in determining your credit score. Even a small bump up in your credit score could make the difference between getting a credit card or mortgage or being turned down. Still, it's worth considering these options if you want to improve your credit history or don't have enough of one to qualify for a loan or credit card.