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Posts Tagged ‘credit’

What’s in a Credit Score: Your Credit Portfolio

by Bethy Hardmen on September 21st, 2011

cg score

For the past couple of months, we’ve been brushing up on credit scores. At CreditKarma.com, credit scores are our bread-and-butter and we like to spread the knowledge with all of you Cute Geek readers.

Our first installment discussed how your credit utilization rate affects your credit score. Then we covered what factors in your credit history impact your score. For this final installment, we’ll be talking about how your credit portfolio factors into your credit score.

The two main pieces of your credit portfolio are the average age of your open credit lines and your total number of credit accounts.

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What’s in a Credit Score: Your Credit Utilization Rate

by Bethy Hardmen on July 21st, 2011

cg score

At Credit Karma we like to geek out about one topic a lot: credit scores. We get so excited talking about credit scoring and credit score ranges that you’d think we are talking about the latest Harry Potter movie.

Today, we want to share our geekfest with you. That’s why we’re starting this CuteGeek series all about what goes into calculating your credit score. By knowing what makes up your credit score, you’re better equipped to manage your credit health. Let’s break down one of the six key factors that goes into your credit score: your credit utilization rate. We’ll also talk about what you can do to make sure you’re on the road to continued credit health.

First, a quick overview of credit scores.
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Favorite Website of the Week: Credit.com

by Radiris Diaz on November 8th, 2010

I love reading about ways of improving your financial/credit health because I feel like as soon as we ’get’ all of the answers –the questions change. There is so much information out there, regardless of how much I read, I will always have more to learn. Credit.com is a site many of us are familiar with. It gives us the scoop and nothing but the scoop on credit cards, their offers, what credit ranges we need to apply to some of them and other credit related stuff. The site also provides its users with a credit report card.
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Credit Karma Tidbit #3: 10 Credit Myths Debunked!

by Justine Rivero on October 31st, 2010

Don’t believe everything you hear, especially when it comes to money.

It’s a shame that financial literacy wasn’t a required class back in school; it may have saved some consumers from being burdened with the national average of $7,526 in credit card debt and a whopping $28,425 in student loans, according to recent Credit Karma data. Most of us figured out how to handle money and juggle our finances thanks to a combination of parent’s advice, friends’ habits, and learning from our own mistakes.

Along the bumpy learning curve of financial literacy, consumers pick up some misinformed advice and bad habits when it comes to money. Did you ever hear someone tell you that you should keep a balance on your credit card? How about the myth that you’ll hurt your credit score if you check it? Credit Karma is debunking these myths and setting a few facts straight about credit, so you can learn the right way to establish a good financial foundation. Continue Reading…

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Credit Karma Tidbit #2: Choose The Credit Card You Need, Not The One You Want

by Justine Rivero on October 1st, 2010

Deciding between the things we need from the things we want is tough—eating the salad over the burger, heading to the bank instead of the mall, studying or going for a night on the town. In the case of credit cards, choosing the credit card you need instead of the one you want could save you thousands (like this savings dashboard shows) and help your credit score.

The key to choosing the right credit card is in finding what benefits your spending habits and encourages responsible credit management. The wrong card for you is the one you choose for its rewards points, retail discount, or promotion offer, and ends up encouraging you to spend more.
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Keeping track of your finances

by Radiris Diaz on April 10th, 2009

creditscore With times being as rough as they are one of the most important things to keep abreast of is your financial stability and where you stand. In this country, and I’m not sure if this applies in others, you can be broke with a great credit score and have the world, where as someone rich with a poor one can not…unless they pay everything cash.

That means a lot – that little score or letter grade can determine a lot about what interest rate credit cards will give you, mortgages, auto loans, etc. A slight increase in a mortgage’s interest can mean a whole lotta cash in the long term.

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