Since the start of the Covid-19 pandemic, record numbers of Americans have left the workforce for a variety of reasons, which has led many to reevaluate their life choices and consider going back to that low-paying service job. The percentage of working-age individuals (15–64 years old) in the labor force, known as the labor participation … Read more
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and heres how we … Read more
Holding too much debt can cause financial hardship in several ways. You might find it difficult to make ends meet or your credit might deteriorate, which would make it harder for you to be approved for further loans like mortgages or auto loans. There are various steps you can take to swiftly reduce your debt … Read more
Buying a house is a huge milestone, and one of the most important factors that will determine your success is your credit score. A good credit score can help you qualify for a lower mortgage rate, which can save you thousands of dollars over the life of your loan. But what exactly is a good … Read more
Your credit score has a significant influence on your finances, whether it’s for getting the best interest rate on a mortgage or helping you get approved for a new credit card. Â. There exist various credit score types; however, the most commonly used and probably the one you are most familiar with is the FICO … Read more
Navigating the world of homeownership can be complex, especially when it comes to understanding different financing options Two terms that often cause confusion are “second mortgage” and “home equity line of credit” (HELOC) While they might seem like separate entities, the truth is, a HELOC essentially functions as a second mortgage. This post explores the … Read more
If you don’t use your credit card, your card issuer can close or reduce your credit limit. Both actions have the potential to lower your credit score. At Experian, one of our priorities is consumer credit and finance education. Although there may be links and references to one or more of our partners in this … Read more
When credit bureaus have the most recent information about your new, lower balances, any harm caused by a high credit card utilization goes away for the majority of credit scores. Once a new, smaller balance is reported to the credit bureaus, a high credit card utilization usually stops negatively impacting your credit score. The main … Read more
In a Nutshell When you check your credit, you may see multiple credit scores from different credit bureaus. A minor difference between scores might not concern you. However, a significant variance could make you wonder why there is a difference and if one score is more important than the other. Here’s what you need to … Read more
When you need to make a big purchase, it could be tempting to spend your large emergency fund. But depleting your cash reserves is not necessarily the best approach in every situation. Financing a large item could also make sense, particularly if you are able to take advantage of an introductory APR with a 200 … Read more