Which is better, debit or credit cards? The answer is — both! Debit and credit cards both have advantages, and which is best for you really depends on multiple factors, such as what you’re using the card for, what kind of rewards each offers, and how good you are at managing a budget. To help you decide which card is right for you at any given time, consider these advantages and disadvantages: Your trusty debit card The good: Because a debit card is tied to your checking (and...

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There comes a time for every business where you will consider a loan. You may need the additional funds for an expansion, equipment, inventory, or even hiring new talent. If you see a small business loan in the future, you may wonder about your credit score's importance. Just how important is your credit profile when applying for a loan? Follow our guide and learn more about how your credit profile plays a role. What Credit Score is Needed for Small Business Loans? There is no magic...

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What is a Credit Score? Credit scores are measured on a scale of 300 to 850. Your credit score is a representation of how much debt you have, your credit risk, and your likelihood of paying a bill on time. A few factors contribute to determining this, such as how many lines of credit you have and your financial records. The breakdown of what affects your credit score looks something like this: 10% – Types of Credit Used 10% – Recent Credit Changes 15% – Length of...

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Looking for ways to protect your identity? Two options to consider are fraud alerts and credit freezes. But what’s the difference? A fraud alert makes companies verify your identity before granting new credit in your name. Usually, that means calling you to check if you’re really trying to open a new account. Placing a fraud alert is easy – you contact any one of the three nationwide credit reporting agencies (Equifax, Experian, TransUnion) and that one must notify the other...

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Credit is important for pretty much all facets of adult life. Credit can be impacted by a number of different things. If you’ve been turned down for credit or you’re looking to buy a house, credit is pretty important. It could be that you just don’t have enough of it or maybe you made some poor financial decisions. Poor credit can be embarrassing, stressful, and expensive. In fact, poor credit can actually cost you hundreds of thousands of dollars in interest over time on a mortgage....

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Did you know… The average FICO score in America is 695 and the average Vantage score stands at 673. [source] Less than 1% of the population has a perfect credit score of 850. [source] Only 41% of Americans understand that a credit score measures your risk of not paying a loan, according to a joint survey from the Consumer Federation of America and VantageScore. Credit is important for pretty much all facets of adult life. Credit can be impacted by a number of different things....

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