Credit Riot
Hard credit inquiries, also known as hard pulls, can impact your credit score, making it crucial to understand how to remove hard inquiries from your credit report. In this guide, we’ll explore the process of removing hard inquiries, the prerequisites, the duration, benefits, and the scenarios when removal is possible or not. What It Requires […]
Managing your credit wisely involves understanding what a hard credit inquiry is, and how it affects your credit score. But what is a hard inquiry? And why does it matter? Let’s dive in. What is a Hard Inquiry? A hard inquiry, also known as a hard pull or hard credit check, occurs when a potential […]
The lowest credit score possible typically ranges from 300 to 350, depending on the credit scoring model used. However, having a score in this range is extremely rare, as it indicates a severe history of missed payments, defaults, and financial irresponsibility. Most people with low credit scores still fall within a higher range, such as […]
The average credit score in the United States varied across age groups. Generally, older adults tended to have higher credit scores. Here’s a rough breakdown of average credit scores by age. Please note, these are averages based on commonly available information from credit bureaus like Experian, Equifax, and TransUnion. Individual credit scores can vary widely […]
A secured credit card is a type of credit card that is backed by a cash deposit provided by the cardholder. It is designed for individuals with limited credit history or poor credit scores. Here’s how it works: Key Takeaways: a secured credit card requires a security deposit. It acts as a tool for responsible […]
In order to achieve a good credit score, you must first achieve good credit utilization. But what is credit utilization, and why does it matter so much? Let’s dive into utilization and its impact on your credit scores. Decoding Credit Utilization At its core, credit utilization refers to the ratio of your credit card balances […]
Wondering if it’s bad to close a credit card? You’re not alone. The common belief is that closing a credit card will hurt your credit score, and while this is generally true, there are several factors to consider. In short: Yes, closing a credit card will likely impact your credit score. At least temporarily. But […]
Deciding to cancel a credit card is a significant choice that warrants careful consideration. Closing a credit card may seem like a straightforward solution, especially if you’re looking for a better option or trying to distance yourself from a card that contributed to your financial challenges. However, the impact of closing a credit card can […]
We get it, times are tough. Everything is more expensive than it was a few years ago but you aren’t making enough to cover all of your bills. Here we’ll go over what happens if you stop paying credit cards? When it comes to skipping credit card payments, the repercussions can be significant and vary […]
Are you in credit card debt and wondering what happens if you don’t pay a credit card bill? These are the consequences one would face if they decide not to pay a credit card bill or continue not paying their credit card bills. Paying credit card bills on time and in full is paramount for […]