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[ad_1] Is your poor credit history preventing you from obtaining your financial goals, such as getting a credit card, buying a car, or purchasing a home? If so, there are steps you can take right now to improve your credit score in as little as three months. This article provides actionable steps you can take today to start on the path to rebuilding your credit. In This Piece How Quickly Can You Improve Your Credit? 1. Pay Off the Debt You Can 2. Minimize Your Credit Utilization 3. Keep an Eye on Your Credit Report 4. Consider Applying for a New Line of Credit 5. Keep on Top of Your Finances What to Do if You Don’t Have Credit How Quickly Can You Improve Your Credit? The exact amount of time it can take to repair your credit score depends on several factors, such as your current credit score, the amount of debt you owe, your ability to repay your debt, and your overall credit history. Despite this, you can start making improvements in as little as three months. Below is a look at five things you can do to improve your credit score, along with tips to keep in mind. 1. Pay Off the Debt You Can Start by paying off as much debt as possible. There are several strategies you can use to pay down your debt, including the debt avalanche method, the snowball method, and a debt consolidation loan. No matter which method you use, the faster you can pay down some of your debt, the sooner your credit can start to improve. Keep in mind that it could take your creditors up to 30 days to report payments to the credit bureaus and another 30 days for the credit bureaus to post these payments to your account. 2. Minimize Your Credit Utilization Your credit utilization ratio accounts for up to 30% of your overall credit score. This ratio compares the amount of credit you have available with the amount of credit you’ve used. It’s recommended to keep this ratio below 30%. If you’re having trouble hitting this number, here are some things you can do. Ask for a Higher Credit Limit If your credit utilization ratio is above 30%, you can ask your credit card company to increase your credit card limit. This strategy will increase the amount of credit you have available, which can help lower your credit utilization ratio. Use as Little Credit as Possible Instead of using your credit card to make multiple or large purchases, consider using another method to pay. The less you have charged to your credit card, the better your credit utilization ratio will be. Taking these steps to decrease your credit utilization rate could start to improve your credit in as little as 60 days. 3. Keep an Eye on Your Credit Report According to a recent study, 34% of Americans found at least one mistake on their credit report. Just one credit card error could damage your credit score. This is why it’s so important to keep an eye on your credit report. You can request a free credit report from all three major credit reporting agencies, Experian, Equifax, and TransUnion, at annualcreditreport.com. Obtaining your credit report is just the first step; you also want to perform the following tasks. Check Your Report for Errors Carefully review your credit report to make sure all the information listed is correct, including your personal information and account details. Make a list of any incorrect information and any accounts or personal information that’s missing.   Dispute Inaccurate Information The best way to remove incorrect information on your credit report is to file a dispute with the credit reporting agency. Write a dispute letter that clearly explains what inaccurate information is listed on your credit report and why it’s incorrect. Submit this letter, along with any supporting documents, to the credit bureaus listing the error. Typically, the credit reporting agencies have up to 30 days to investigate your dispute and another 5 days to let you know their decision. Ask if Lenders Will Remove Paid-Off Items From Your Report Many lenders report past-due accounts to credit reporting agencies to entice customers to pay their debts. Once you pay your debt off, the lender may be willing to remove this debt from your credit report. Contact your lender directly to make this request. It could take days, weeks, or months to receive a clear answer from your lender. If they do agree to remove this debt, it could take up to 60 days to reflect on your credit report. How to Add Your Utility Bills to Your Credit Report Typically, utility companies don’t report on-time payments to the credit bureaus. You can, however, work with a reporting service company, such as Credit.com’s ExtraCredit service, to make sure these payments along with your rent payments are listed on your credit report. This step can help prove you have a strong payment history. Once you sign up for a credit reporting service, you can expect to see these payments on your credit report within 60 days. 4. Consider Applying for a New Line of Credit Having a mix of different types of credit accounts, such as revolving credit accounts and fixed-payment accounts, makes up to 10% of your credit score. If you want to boost your credit score, it’s important to have a nice mix of different accounts. Below is a look at some types of credit accounts you may qualify for even if you don’t have good credit. Are Credit Builder Loans Right for You? As the name suggests, credit builder loans are designed to help you build credit. This type of loan is different from traditional loans, as you don’t have access to the money until you make all your payments. Obtaining a credit builder loan can be a great way to save money while building your credit because these lenders often report loan payments to the credit bureaus. Types of

[ad_1] Under ideal circumstances, rental properties are safe, affordable, and comfortable to live in. Unfortunately, things don’t always go as planned. If you feel unsafe in your home, or if you get into financial difficulty and can’t afford the rent on your apartment, you might decide to move. Breaking a lease might feel like uncharted territory. How do you start? Is it even allowed? We’ve got you covered, and we’ll give you a few tips on how to get out of a lease. Just a quick note before we start—while we’ll give you some suggestions that could help, we aren’t giving you legal advice. If you need help working through the details of your lease or you’re worried about being taken to court, consult an attorney. In This Piece What Happens If You Break a Lease? Common Reasons to Break a Lease How Can You Get Out of a Lease Early? Legal Protections for Ending a Lease Early Tips for Getting Out of a Lease Breaking a Car Lease Can Breaking a Lease Hurt My Credit? What Happens If You Break a Lease? Honestly, it’s hard to definitively say what will happen if you break your lease agreement. It depends on a few things—your landlord, your lease, etc. Worst case scenario, your landlord might take legal action against you. Or you may have to pay a penalty fee. Before you consider breaking your lease, read it carefully to figure out what your options are. Leases vary by state—and sometimes city or municipal area—so there isn’t a one-size-fits-all document. Make sure you have a thorough understanding of your lease before you make your move. Common Reasons to Break a Lease It isn’t uncommon to break a lease early—in fact, people do it pretty often. Here are some of the top reasons leases end prematurely: You’re an active-duty member of the military. Deployed military members often have to break their leases early. Thankfully, landlords are usually understanding under these circumstances. Your rental unit isn’t habitable. Black mold, inadequate waste disposal, and running water issues can interfere with your health. Generally, it’s your landlord’s responsibility, known as warranty of habitability, to perform routine maintenance and keep your space habitable. If your home is unfit to live in, you may be able to break your lease early. Your landlord enters your home illegally. Generally, landlords can’t enter their tenant’s space without a legal reason—and plenty of notice. If your landlord comes into your home without warning, or they allow other people to do so, you may have grounds to break your lease. You’re a domestic violence victim. If you need to escape domestic violence, don’t hesitate to move—whether your partner lives with you or not. It’s important to protect yourself, so seek help as soon as possible. You can’t pay your rent. Family emergencies, the COVID-19 pandemic, medical bills, and life changes all affect your financial health. If you struggle to pay your rent each month, you may need to break your lease and find a more affordable property. What Are the Consequences of Breaking Your Lease? Even if you find out how to get out of an apartment lease early, you could face a variety of consequences for doing so. These consequences are based on your lease as well as state and local laws, and the most common consequences you could face are listed below: Fees. Depending on the terms of your lease, you may need to pay an early termination fee to end your lease early. Typically, this fee is equivalent to 2 months’ rent. In some cases, the property owner may agree to use your security deposit to cover these fees, although they’re not required to do so. Going to court. If you break your lease early and fail to continue paying rent after you move out, the property owner could sue you in small claims court. Depending on the judge’s ruling, you might be required to pay monthly rent payments until the end of your lease plus court fees. However, property owners have to do due diligence to try to find new tenants. If the judge issues an order, this will be open to the public, and future landlords could see it. Difficult time renting again. Finding a new rental could take weeks or even months. It’s important that you don’t end your lease until you find a new one. If other landlords know you broke your lease early, it could make it more difficult to find a new rental. Your credit score. Breaking a lease without paying your rent could impact your credit score. If your landlord reports your late payments to the credit bureaus or uses a collection agency to recoup their money, it could show up on your credit report. This can negatively impact your credit score and make it harder to get approved for a new rental or loan. How Can You Get Out of a Lease Early? Getting out of a lease isn’t always easy, but most of the time, it can be done. Here are seven ways you can maximize your chances of breaking a lease early. 1. Read Your Lease If you plan to leave your rental property early, do read your lease before packing up. Focus on the fine print, because that’s where penalties, caveats, and procedures for early termination usually live. Typically, leases protect the landlord more than the tenant. You may need to provide your landlord with compensation, for instance, if you move out early. If your landlord isn’t maintaining the property properly, you may be able to break your lease without incurring any penalties. Put your concerns in writing and keep a copy on record in case your landlord tries to take legal action against you. Tip: In most states, landlords can’t lease your old apartment to someone new and charge you rent as well. If you can find someone to take over your lease on the same terms, you might be able to move on fairly quickly. You

[ad_1] You have a right to an accurate and fair credit report. But people make honest mistakes, and sometimes the information on your credit reports isn’t right. That’s why there’s a process for TransUnion, Equifax, and Experian disputes. But what happens if your credit dispute is denied? You definitely have options, so keep reading to learn more. In This Piece What Is a Credit Dispute? Can Disputing a Collection or Credit Hurt You? How Many Items Can You Dispute at Once? What to Do If Your Credit Dispute Is Denied How Many Times Can You Dispute a Collection or Inaccurate Credit Item? What Is a Credit Dispute? A credit dispute can refer to a few things. For the purpose of this article, we’re mostly concerned with disputing inaccurate information that appears on your credit reports. However, you might also dispute collections by asking for validation of a debt before you move forward with negotiating or fighting a collection attempt. When it comes to disputing inaccurate information in your credit report, you’re supported by the law. The Fair Credit Reporting Act requires credit bureaus like TransUnion, Equifax, and Experian to provide fair and accurate credit reporting. They also have to provide ways for consumers to seek to correct inaccurate information they might find in their credit reports. When you submit a dispute, the credit reporting agency must investigate the items in question–usually within 30 days of receiving your communication. Once the investigation is complete, the credit bureau has 5 days to make any appropriate changes to your file and notify you of those results. The Fair Debt Collection Practices Act provides some support for a consumer disputing a collection. Under the FDCPA, a collection agency must provide you with information that verifies the debt, including the total amount due and the original creditor. If you receive a collections notice and aren’t sure the debt is yours because you can’t identify it, you can send a debt validation letter to request this information.  Can Disputing a Collection or Credit Item Hurt You? The act of asserting your rights under laws like the FCRA or FDCPA doesn’t, of itself, hurt your credit. However, the outcome of these actions might change your credit score or what you owe. For example, if you dispute a negative item on your credit report, that doesn’t in itself have any bearing on your credit score. However, if the item is removed from your credit report as a result of your TransUnion, Equifax, or Experian dispute, your credit score based on that report may increase. Likewise, if you ask for validation of a collection item and the agency can’t prove the debt, you may not actually owe it. You can dispute the information on your credit report in that case, using the lack of validation documents as part of your reasoning. If the collection is removed from your credit report, your score will likely go up. How Many Items Can You Dispute at Once? You can dispute as many items as you want. However, for an increased chance at positive outcomes, you may want to follow some best practices: Address one item at a time. Misunderstandings, typos and confusion between line items or accounts are potential reasons for credit report errors. Keep those issues out of your dispute by addressing one error at a time. The credit bureaus offer some options for disputing information online. If you use this option, open up a new “ticket”or dispute for each individual error. If you’re sending a letter to dispute things in writing, consider sending separate letters for each dispute.  Limit disputes within short periods of time. While there’s no limit on disputes, if you send a dozen in the same week or month, you run the risk that credit reporting agencies might see you as someone who’s frivolous with disputes. Make sure all your disputes are grounded in facts and that you provide documentation to back them up. Avoid sending many “try and see” disputes that you don’t think you have a good case for but want to gamble on anyway. Keep disputes to a number you can reasonably follow up on. You may need to follow up on a dispute, sending additional information or arguing your case if the credit bureau denies your dispute. If you only have the bandwidth to properly manage a single dispute at a time, choose the one with the biggest potential for benefits and work your way slowly through the others when you can. You might also work with a credit repair organization to handle all the details for you. What to Do If Your Credit Dispute Is Denied You may wonder what happens if your TransUnion, Equifax, or Experian dispute is denied. You can keep submitting disputes to try to get the information corrected. However, you shouldn’t simply submit a carbon copy of the same dispute you already tried. If the credit bureau already denied that one, they’re likely to deny a subsequent attempt that doesn’t add any additional information. Instead, do more research or come up with better documentation that proves your case. Then submit another dispute with that new information. You can also submit another dispute with a different reason. For example, you may have disputed an account on your credit report as being something you don’t owe. If the creditor submitted documentation proving that you did, indeed, own the account and owe on it, you could change your dispute to demonstrate that the amount reported as owed is incorrect. Obviously, you should only do this if you have evidence and truly believe you don’t owe the amount reported. In another example, you may have disputed that an item is incorrect but lost. However, if it’s still appearing on your credit report past the allowed time, you could try again and argue that the item should have aged off your report. How Many Times Can You Dispute a Collection or Inaccurate Credit Item? There’s no limit to how many times a consumer

[ad_1] Your credit score is one of the most important numbers you have. It can determine interest rates on your loans or you even qualify for it. A lower-than-average score can make it difficult to purchase a new car, buy a home, or start a business. If your current FICO score is lower than you want, a credit repair company may be able to help. But is credit repair worth it, and can it really help repair your credit? This guide gets to the truth about credit repair to help you determine if this is the right option for you or not. Is Credit Repair Legit? With so many stories running around about credit repair scams, it can be difficult to tell if these companies are legitimate or not. The truth is that there are bad companies out there masquerading as credit repair agencies that have scammed consumers. However, there are plenty of legitimate companies that can help you through the credit repair process. The trick is to know the difference. Fortunately, there are several factors that can help you determine if the company is legit or not. Below is a list of things you should look for when searching for a reputable credit repair company. No guarantees or promises. You should avoid any company that promises it can improve your credit score or guarantees it can remove negative items from your credit. While improving your credit report is always the goal, no legit company can guarantee this. Up-front pricing. Never work with a credit repair company that isn’t up front about its pricing. You should know right from the start exactly how much its services cost as well as what’s included. Contract in writing. Don’t just take the representative’s word for it when it comes to pricing and service details. Instead, get everything in writing. Any legitimate credit repair company will provide you with a contract that outlines all the details. Good reviews. Take some time to research any credit repair company you’re considering by reading a number of online reviews. Typically, you can easily spot companies with a history of scamming their customers. Cancellation policy. Reputable credit repair companies often include a cancellation policy. For example, you may have three days to change your mind and cancel your services. Does Credit Repair Raise Your Credit Score? One of the most common complaints regarding credit repair agencies is that they focus on repairing your credit report and not on your credit score. While technically this is true, the details on your credit report directly impact your credit score. The reality is that no credit repair agency has the power to change your credit score. What they can do is help you take steps to remove as many negative issues on your credit report as possible and provide advice for improving your score. Will My Credit Score Improve Immediately? Chances are your credit score didn’t appear overnight. Likewise, it will take time to repair any damages. For instance, if you find an error on your credit report, the credit reporting agencies have at least 30 days to respond to your dispute. It’s likely to take longer for the removal of this error to impact your overall credit score. In many cases, a person shouldn’t expect to notice changes to their credit report for at least the first six months. Does Credit Repair Work? Depending on your specific situation, credit repair services can help. For example, if you have any errors on your credit report that are negatively impacting your score, a credit repair company may be able to help you identify and remove this information. Reputable credit repair companies also review your credit reports and provide tips for improving your score. Get a Free Credit Consultation Today! Call 888-586-1898 Visit LexingtonLaw.com Are Credit Report Errors Common? According to a recent study, one-third of all Americans claim to have one or more errors on their credit report. These errors can range from wrong personal information to incorrect debt claims. A credit repair agency can help you examine your credit reports from all three credit reporting agencies, Equifax, TransUnion, and Experian. Can Credit Repair Companies Fix Mistakes on My Credit Report? While no credit repair company can guarantee its ability to fix mistakes on your credit report, it can help you file a dispute. These companies submit credit dispute letters to all relevant agencies on your behalf. Credit reporting agencies typically have 30 days to either substantiate their claims or remove them from your credit report. Can Credit Repair Companies Remove Negative Items? Credit repair companies don’t have the power to remove negative items from your credit report. What they can do is help you file a dispute to remove any incorrect information or claims on your credit report. Some credit repair companies can also work with your lenders to negotiate a repayment plan on your behalf. For example, through negotiations, the credit repair company may be able to entice a lender to reduce a portion of the interest to lower your overall bill. Additionally, many reputable credit repair companies provide tips for improving your credit report. These companies can also work with you to develop a strategy that may help you repair, restore or rebuild your credit over time. Is Credit Repair Worth It? Depending on your specific situation, working with a credit repair agency may be worth it. While some people attempt DIY credit repair, this process can be very time-consuming. You can avoid this hassle by working with a credit repair company. If you’re willing to put in the time and research, you may be able to handle the process yourself. However, a credit repair company can handle many tasks for you. The benefits you might receive from an improved credit score, such as better interest rates and lower auto insurance premiums, can more than pay for these services over time.Your credit reports impact so many areas of your life — where you work, where you live, what

[ad_1] Quick answer: Yes, it’s possible for undocumented immigrants to get a mortgage loan. They face legal and financial obstacles that don’t stand in the way of other purchasers, but millions have done so successfully. You don’t need to be a resident to own real estate in the United States. Many documented immigrants own homes. While it’s difficult to get accurate statistics about undocumented homeowners for a number of reasons, in 2014, the Migration Policy Institute estimated that around 3.4 million undocumented immigrants owned homes in the United States. Keep reading to discover how your residency status impacts the home loan process. We’ll also highlight some important information you should know about your rights when applying for a mortgage.  In This Piece How Residency Status Affects a Home Loan Understand Your Rights How to Get a Mortgage How Residency Status Affects a Home Loan Overall, residency status plays a significant role in determining the availability and terms of home loans for individuals in the United States. Green Card Holders Green card holders are permanent residents eligible for most types of mortgages available to U.S. citizens. This means they must provide proof of income, credit history and other financial documents to qualify for a home loan. In some cases, green card holders might face additional challenges during the home loan and purchase process. Those can include difficulty in obtaining mortgage insurance or a higher down payment requirement, which can vary based on the lender and the type of loan. Refugees and Asylum Grantees Refugees and asylum grantees are individuals granted legal status in the United States due to persecution or fear of persecution in their home countries. They may be eligible for certain types of mortgages. However, their ability to obtain a home loan might depend on their specific immigration status and financial circumstances. For example, refugees or asylum grantees who have been in the United States for less than 2 years might have a harder time getting a mortgage because many lenders require at least 2 years of residency to establish credit history. DACA DACA recipients, or individuals who’ve been granted Deferred Action for Childhood Arrivals, are not eligible for most types of home loans. This is because they don’t have legal permanent residency status. However, some lenders may offer alternative financing options or assistance programs specifically designed for DACA recipients and other undocumented immigrants.  Additionally, DACA recipients who have obtained an Employment Authorization Document and can demonstrate a stable income and credit history may be able to get a mortgage under certain circumstances.  Understand Your Rights The Fair Housing Act prohibits discrimination in housing based on race, color, national origin, religion, sex, familial status or disability. Immigrants, including those who aren’t U.S. citizens or permanent residents, are protected under the FHA and have the same rights as other individuals. That includes: The right to rent or purchase housing without discrimination based on national origin The right to be treated the same as U.S. citizens or permanent residents in all aspects of the housing process, including advertising, application, screening and approval The right to request reasonable accommodations in housing, such as modifications to the physical structure of a home or changes to policies or procedures, if disabled If you believe you’re being discriminated against during the home loan, home buying or other housing process, you should report it.   How to Get a Mortgage as an Undocumented Immigrant Undocumented immigrants aren’t usually able to qualify for mortgages through traditional services, such as those backed by Fannie Mae and Freddie Mac. However, individuals with an ITIN may be able to get approved for special loans from private lenders. An ITIN (Individual Taxpayer Identification Number) is a unique identifier the IRS uses to process tax returns and payments for those that do not have or do not qualify for a social security number. Apply for an ITIN The first step is to apply for an ITIN, or Individual Taxpayer Identification Number. You do this by completing Form W-7 via mail, in person at an IRS-authorized agent or in person at an IRS Taxpayer Assistance Center. Save for a Down Payment Because undocumented immigrants can’t usually qualify for federally backed loans, such as those through the FHA, they probably won’t qualify for mortgages with low down payment requirements. Private lenders may require down payments as much as 20% or even 30%. If an undocumented immigrant wants to buy a home, they should start saving as soon as possible. That might mean paying down other debt first. Get Documentation Ready In addition to the ITIN, undocumented immigrants will have to provide information to help qualify them for a private home loan. That information can include: Proof of income, such as recent pay stubs, tax returns or other financial documents Information about credit history, including any outstanding debts, loans or credit accounts Recent bank statements that show account balances and transaction history Identification documents, such as passports or government-issued IDs Proof of residency status, such as a lease agreement or utility bill in the person’s name Proof of employment or self-employment, such as a letter from an employer or recent tax returns Apply for an ITIN Mortgage Once you have an ITIN, a down payment and all the necessary documentation, you can apply for an ITIN mortgage. Start by browsing the mortgage options in the Credit.com marketplace. The post Can an Undocumented Immigrant Get a Mortgage? appeared first on Credit.com. [ad_2]

[ad_1] Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Quick answer box There were over 389,000 reports of credit card fraud to the Federal Trade Commission (FTC) in 2021. Globally, there were over $32 billion in losses. Sources: Federal Trade Commission and Nilson In 2021, the Federal Trade Commission (FTC) reported that there were 5.7 million reports related to consumer fraud, and credit card fraud was one of the most reported types. The top two types of fraud included identity theft and impostor scams, which can also relate to credit card fraud. With this type of fraud being so prevalent, it’s helpful to know the data so you can know what to look out for. When you become the target of credit card fraud, it can damage your credit score and make it difficult to recover. Here, we’ll go over some of the most important findings as well as what you can do if you’ve become the victim of credit card fraud. Table of contents: Identity theft in the U.S. Identity theft in the U.S. by age Identity theft by state Credit card fraud in the U.S. Global credit card fraud losses by year Data breaches by year How credit card fraud hurts your credit score Key credit card fraud statistics Credit card fraud was down in the United States between 2020 and 2021, but it’s still a major problem. In addition to someone stealing your personal information, resulting in fraud, it’s also possible for a company you use to have its data breached. The following are some key findings from the data we collected: There were over 389,000 cases of credit card fraud reported to the FTC in 2021 (Federal Trade Commission) The largest data breach of credit card information happened in 2009 to Heartland Systems, and it affected 160 million credit cards (U.S. Department of Justice) Global losses from credit card fraud totaled over $32 billion in 2021 (Nilson) In 2021, Texas had the most reported cases of credit card fraud with over 146,000 reports (Federal Trade Commission) People ages 30 to 39 reported the most cases of credit card fraud in 2021, but those 80 years and older experienced the highest median loss of $1,500 per report (Federal Trade Commission) Identity theft in the U.S. According to the FTC, identity theft was the most common form of fraud reported during 2021. Identity theft accounted for just over 25% of all of the reports, which totaled 1.4 million reports during that year.  There are many ways criminals use stolen identities, but the most common form identified in the FTC report was people using stolen identities to open checking and savings accounts. This type of identity theft was up 64%compared to the previous year. It’s also beneficial to remember that these are just the reported cases. There are many victims who never report these types of crimes to the FTC, so this number is likely higher than 1.4 million cases. The seven common types of identity theft Although criminals are likely to use stolen identities to open checking and savings accounts, there are seven common types of identity theft. Although criminals are likely to use stolen identities to open checking and savings accounts, there are seven types of theft that lead to stolen identities. This can include phone and utility fraud, government document or benefits fraud as well as tax-related fraud. Criminals then use these methods for fraudulent activities.  Government documents and benefits fraud leads the list with almost 400,000 cases reported, but it’s down two and a half percent compared to 2020. While this type of identity theft and credit card fraud is down, bank fraud increased by nearly 40%. .container{ max-width: 1200px; width: 100%; margin: auto; } .cradit-crawalable-table { border-collapse: separate; width: fit-content; border-radius: 10px; margin: 50px 0; border: solid 1px #f2f2f2; border-spacing: 0; overflow: auto; height: max-height; display: block; } .cradit-crawalable-table::-webkit-scrollbar { width: 5px; border-radius: 20px; } .cradit-crawalable-table::-webkit-scrollbar-track { -webkit-box-shadow: inset 0 0 6px rgba(0,0,0,0.3); border-radius: 20px; } .cradit-crawalable-table::-webkit-scrollbar-thumb { background-color: #44b853; outline: 1px solid slategrey; border-radius: 20px; } .cradit-crawalable-table thead { color: #303030; } .cradit-crawalable-table thead tr { background-color: #f2f2f2; border-radius: 10px; } .cradit-crawalable-table thead tr th { text-align: left; padding: 15px; border: 0; } .cradit-crawalable-table thead tr th:first-child { border-radius: 10px 0 0 0; } .cradit-crawalable-table thead tr th:last-child { border-radius: 0 10px 0 0; } .cradit-crawalable-table tr td { padding: 15px; border-left: 0; border-right: 0; border-bottom: solid 1px #f2f2f2; } .cradit-crawalable-table tr p { padding: 0; margin: 0; } .cradit-crawalable-table tr a { color: #44b853; padding: 0; text-decoration: none; } .question-box { padding: 50px; background-color: #1d4bb6; border-radius: 10px; color: #fff; margin: 50px 0; font-size: 18px; } .credit-card-saving { width: 100%; border-radius: 10px; border: solid 1px #dcdcdc; margin: 50px 0; } .credit-card-saving .title div { padding: 20px 50px; display: flex; align-items: center; justify-content: space-between; padding-bottom: 20px; } .credit-card-saving .title div h3 { margin: 0; font-size: 32px; } .credit-card-saving .title div img { width: 200px; } .credit-card-saving .title hr { width: 92%; border: #f2f2f2 solid 1px; } .credit-card-saving .content { display: flex; align-items: flex-start; justify-content: space-between; padding: 20px 50px; } .credit-card-saving .content .key-takeaways h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; } .credit-card-saving .content .key-takeaways ul { padding: 0 0 0 15px; } .credit-card-saving .content .rating h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; margin: 0; } .credit-card-saving .content .rating .stars { margin-top: 20px; color: #2c56bb; display: flex; align-items: center; justify-content: space-between; gap: 10px; } .credit-card-saving .content .rating .stars div { display: flex; } .credit-card-saving .content .rating .stars div img { width: 20px; } .credit-card-saving .content .btn a { background-color: #44b853; color: #fff; padding: 10px 50px; border-radius: 5px; text-decoration: none; display: block; } .credit-card-saving .why-we-chose-it { padding: 20px 50px; background-color: #f2f2f2; } .credit-card-saving .why-we-chose-it h4 { margin: 0 0 10px 0; } .credit-card-saving .why-we-chose-it p {

[ad_1] According to TransUnion, the total number of consumers that own a credit card account reached 166 million in the fourth quarter of 2022 . That accounts for an increase of over 13 million over the last three years . Even with that many credit cards in circulation, though, not everyone can get one. Why can’t you get a credit card? It may have to do with your credit score. A lower credit score can lead to fewer financial opportunities. Keep reading to learn what credit score you need to qualify for a credit card and how you can build credit to get better opportunities.   What Credit Score Do You Need for a Credit Card? If you can’t get a credit card, it could be for a number of reasons, such as if you don’t have proof of income. Credit card companies want to know you have regular income and the ability to pay off any balances you incur. Another common reason you can’t get a credit card is because you don’t meet the credit requirements. There isn’t a specific minimum credit score that gains you entrance into the credit card kingdom. Every credit card has its own requirements. Typically, credit cards with more perks, higher credit limits and better interest rates have higher credit score requirements. Cards for those with lower credit tend to have fewer benefits. Unsecured credit cards usually need higher overall credit scores than secured credit cards. Secured credit cards require you to put up some money as a deposit to secure your credit limit. The average FICO® score in the U.S. is around 714. Good credit is typically considered anything above 670. If your score falls below that, you may find it difficult to get a credit card with great interest rates or benefits. And if you fall too far below it, you may find you can’t get a credit card at all or are limited to secure credit cards. 3 Ways to Build Credit with Low to No Credit History You can start building your credit in other ways. Once you boost your score, you may have a better chance of getting approved for the card you want. Get a Credit Builder Loan Credit builder loans aren’t really loans you use to get funds you need right now. They’re secure loans that let you demonstrate you can manage credit and payments well, which can boost your credit score.  One option is LOQBOX. With this option, you buy a savings voucher. The money you pay for it is deposited in a “lockbox”, and you’re given a “loan” for the amount. You pay off the loan over a year and the lockbox is opened, giving you access to the money in the savings account. Your timely payments are reported to the credit bureaus, helping increase your payment history and, hopefully, your score. Another similar option is CreditStrong, which offers a number of plans to help people build credit.   Report Rent and Utility Payments Unfortunately, landlords and utility companies don’t usually report your payments to the credit bureaus. That means you’re not getting credit for making regular payments every month on some of your biggest expenses. When you sign up for ExtraCredit, you can use the Build It feature to get these items reported on your credit reports. That way, you can build payment history by demonstrating that you responsibly pay a number of bills every month.  Become an Authorized User  If you have a trusted friend or family member with a credit card account in good standing, you might ask them if you can be added as an authorized user. For this to work, the credit card company has to report account and payment information to the credit bureaus for the authorized user too, so double-check before you go through the trouble. You also need to ensure the primary account holder pays their statement on time every month and doesn’t run up balances to create high credit utilization. Otherwise, getting the account on your credit report could be a negative rather than a positive.  Try ExtraCredit Want more great tips and information on building your credit? Sign up for ExtraCredit today. You’ll get five great features to help you build and protect your credit, including: Build It, which lets you report rent and utility payments to the credit bureaus Guard It, which provides identity theft monitoring and protection Track It, which gives you access to 28 of your FICO scores Reward It, which has cash back rewards for completing offers Restore It, which provides discounts for credit repair service The Bottom Line Being denied a credit card can be a bummer. But that denial doesn’t have to be a roadblock on your journey to build credit. Look at all your options, starting with some of those listed above, to find credit-building tools that work for you. Then, put in the work to make good financial and money management decisions to build your credit in the future.  The post 3 Ways to Build Credit if You Can’t Get a Credit Card appeared first on Credit.com. [ad_2]

[ad_1] According to the Federal Reserve, 4 in 10 people who go to college incur debt to pay for their education. Currently, individuals with outstanding student loan debt owe as much as $100,000 or more, with more than 40% owing between $20,000 and $99,999.  If you’re struggling with student loan debt, you certainly aren’t alone. Understanding your loan is an important first step in creating a viable plan to pay it back. You may be dealing with one of many student loan service providers, including Navient. Find out more about Navient below, including what to expect if this company is calling you, so you’re more educated about your student loan debt and avoid making mistakes on your student loans.  In This Piece What Is Navient? Why Is Navient Calling Me? What Should I Expect When Navient Calls? What Is Navient? Navient is a student loan servicer. This means it’s a company that handles student loans, including the collection of those loans. Navient previously existed as an arm of Sallie Mae, the Student Loan Marketing Association. However, the company split off from Sallie Mae in 2014. Is Navient Legitimate? Yes, Navient is a real company with real contracts with student loan lenders. If this is your student loan servicer, it’s not a scam, and you can make your payments with confidence. Still, it’s always a good idea to keep records of all your debt payments in case you need to prove them later.  Get Your Free Credit Score & Monitoring Plus Weekly Updates From Our 50+ Experts Get It Now Privacy Policy What Does Navient Do? Note that Navient is not the lender. It didn’t loan you the money for the student loan or buy the student loan debt from your lender. It’s more of a middleman between the borrower and the lender and is responsible for a variety of tasks, including: Sending information about your student loan balances and when payments are due Working with you on deferrals and other measures when you’re in school or after you graduate Collecting payments from you Working with you to set up payment plans when necessary Reporting payments—both timely payments and late or missed payments—to the credit bureaus Navient primarily services private student loans after ending its contract with the Department of Education in late 2021. Why Is Navient Calling Me? If Navient is your student loan service provider, it may call you for a number of reasons. Navient reps may contact you due to: A need to update your records or questions about information on your account To ensure everything is on track while you’re still in school Because your account is in danger of defaulting and you need to attend to it or set up payment plans It’s important to pay attention to communication from your student loan provider so you can keep your account in good standing. Student loan servicers may also send you emails or mail, so watch for those types of communications as well. You should always know what company is servicing your student loan accounts so you can work with it to repay your loans. Defaulting on your student loans can have great consequences on your finances, including your credit score. So, you should contact your loan servicer to find out what options you may have. For example, you can contact them to learn how to discharge your student loans, and for what programs you may qualify. What Should I Expect When Navient Calls? Always verify that someone calling about a debt is who they say they are. Check the phone number on your caller ID. You can look it up online or compare it with phone numbers listed on paperwork you might have from the company.  Avoid answering questions with personal information. Navient reps won’t call you and ask for specifics like your account number or Social Security number. They already have all the pertinent information they need in their files.  Whether Navient is calling you or you’re calling your student loan servicer, be prepared to discuss the best ways to deal with your debt. Have a plan for how much you can pay, and don’t be afraid to ask about payment plans and other options to help you get back on track if your student loan payments have fallen behind. The Bottom Line Student loan servicers want to collect the debt from you, but they also have a number of tools they can use to help you pay that debt. You also have options, including refinancing your student loans. Not paying your student loans will affect your credit score. Always make sure you understand the terms of any loans or refinance loans and how they might impact your credit. See where your credit stands at Credit.com by checking out your free credit report card. The post Who Is Navient and Why Are They Calling Me? appeared first on Credit.com. [ad_2]

[ad_1] Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. .container{ max-width: 1200px; width: 100%; margin: auto; } .question-box { padding: 50px; background-color: #1d4bb6; border-radius: 10px; color: #fff; margin: 50px 0; font-size: 18px; }/*# sourceMappingURL=style.css.map */ At the end of 2022, the Federal Reserve reported that roughly 43.5 million Americans have student loan debt, which totals over $1.7 trillion. Each borrower owes an average of $37,787. If you owe tens of thousands of dollars in student loan debt, you’re not alone. According to the Federal Reserve’s Consumer Credit report, 43.5 million Americans have some form of federal or private student loan debt. That’s 13 percent of the population. Not only can you not declare bankruptcy on many forms of student loan debt, but it can also harm your credit. Here, we’re going to help you better understand the student loan debt dilemma that millions of Americans are facing. We’ll cover both federal and private student loan statistics, which states have the most student loan debt as well as delinquency rates. This will help you see where you stand in comparison to others in a similar situation. Table of contents: Average student loan debt How many Americans have student loan debt? Student loan debt by state Total federal student loan debt Total private student loan debt Average student loan debt by age group Student loan repayment status Student loan default and delinquency rates Student loan debt forgiveness Student loan debt FAQ Average student loan debt The Education Data initiative is a primary source for tracking data on student loan debt and other educational statistics. In a January 2023 report, their analysis showed that the average debt per borrower was over $37,000 for federal student loans and nearly $55,000 for private loans. Student loan debt has reached new highs in recent years and has been rising since 2007. Less than 20 years ago, the average student loan debt per borrower was just $18,200. This means that by 2022, we saw a 106 percent increase. Here’s some more interesting data from their report: Those with a medical degree have an average student loan debt of over $300,000 The least amount of student loan debt is those with a Master of Education, which is $67,500 Stafford loan borrowers owe $25,249 on average 10 percent of borrowers owe more than $100,000 and 45 percent owe less than $20,000 How many Americans have student loan debt? Over 43 million Americans have student loan debt. The following table from the  U.S. Department of Education shows how many Americans have debt by federal loan type.  .container{ max-width: 1200px; width: 100%; margin: auto; } .cradit-crawalable-table { border-collapse: separate; width: fit-content; border-radius: 10px; margin: 50px 0; border: solid 1px #f2f2f2; border-spacing: 0; overflow: auto; height: max-height; display: block; } .cradit-crawalable-table::-webkit-scrollbar { width: 5px; border-radius: 20px; } .cradit-crawalable-table::-webkit-scrollbar-track { -webkit-box-shadow: inset 0 0 6px rgba(0,0,0,0.3); border-radius: 20px; } .cradit-crawalable-table::-webkit-scrollbar-thumb { background-color: #44b853; outline: 1px solid slategrey; border-radius: 20px; } .cradit-crawalable-table thead { color: #303030; } .cradit-crawalable-table thead tr { background-color: #f2f2f2; border-radius: 10px; } .cradit-crawalable-table thead tr th { text-align: left; padding: 15px; border: 0; } .cradit-crawalable-table thead tr th:first-child { border-radius: 10px 0 0 0; } .cradit-crawalable-table thead tr th:last-child { border-radius: 0 10px 0 0; } .cradit-crawalable-table tr td { padding: 15px; border-left: 0; border-right: 0; border-bottom: solid 1px #f2f2f2; } .cradit-crawalable-table tr p { padding: 0; margin: 0; } .cradit-crawalable-table tr a { color: #44b853; padding: 0; text-decoration: none; } .question-box { padding: 50px; background-color: #1d4bb6; border-radius: 10px; color: #fff; margin: 50px 0; font-size: 18px; } .credit-card-saving { width: 100%; border-radius: 10px; border: solid 1px #dcdcdc; margin: 50px 0; } .credit-card-saving .title div { padding: 20px 50px; display: flex; align-items: center; justify-content: space-between; padding-bottom: 20px; } .credit-card-saving .title div h3 { margin: 0; font-size: 32px; } .credit-card-saving .title div img { width: 200px; } .credit-card-saving .title hr { width: 92%; border: #f2f2f2 solid 1px; } .credit-card-saving .content { display: flex; align-items: flex-start; justify-content: space-between; padding: 20px 50px; } .credit-card-saving .content .key-takeaways h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; } .credit-card-saving .content .key-takeaways ul { padding: 0 0 0 15px; } .credit-card-saving .content .rating h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; margin: 0; } .credit-card-saving .content .rating .stars { margin-top: 20px; color: #2c56bb; display: flex; align-items: center; justify-content: space-between; gap: 10px; } .credit-card-saving .content .rating .stars div { display: flex; } .credit-card-saving .content .rating .stars div img { width: 20px; } .credit-card-saving .content .btn a { background-color: #44b853; color: #fff; padding: 10px 50px; border-radius: 5px; text-decoration: none; display: block; } .credit-card-saving .why-we-chose-it { padding: 20px 50px; background-color: #f2f2f2; } .credit-card-saving .why-we-chose-it h4 { margin: 0 0 10px 0; } .credit-card-saving .why-we-chose-it p { margin: 0 0 20px 0; } .saving-account { width: 100%; border-radius: 10px; border: solid 1px #dcdcdc; margin: 50px 0; } .saving-account .title div { padding: 50px; display: flex; align-items: center; justify-content: space-between; padding-bottom: 20px; } .saving-account .title div h3 { margin: 0; font-size: 32px; } .saving-account .title div img { width: 200px; } .saving-account .title hr { width: 92%; border: #f2f2f2 solid 1px; } .saving-account .content { padding: 20px 50px; display: flex; align-items: flex-start; justify-content: space-between; } .saving-account .content .rewards-rate h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; } .saving-account .content .best-for h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; } .saving-account .content .best-for ul { padding: 0 0 0 15px; } .saving-account .content .rating h4 { padding: 0; margin: 0 0 10px 0; font-size: 18px; margin: 0; } .saving-account .content .rating .stars { margin-top: 20px; color: #2c56bb; display: flex; align-items: center; justify-content: space-between; gap: 10px; } .saving-account .content .rating .stars div { display: flex; } .saving-account .content .rating .stars div img { width: 20px; } .saving-account .content .btn a { background-color: #44b853; color: #fff; padding: 10px 50px; border-radius: 5px;

[ad_1] The post ScoreSense Talks to Fox News San Antonio About Tax Refunds appeared first on ScoreSense. [ad_2]