“Credit Basics” Articles - CreditSoup.com Blog

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Credit Basics

The Young Adults Guide to Finance

CreditSoup Staff April 9, 2024 • 8 Minute Read
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Growing up is inherently unnerving. Money, however, doesn't have to be the scary monster that many people think. CreditSoup has all the details from money management to investments here, in this article from the CreditSoup.com blog.
Financial Literacy - The Inside Scoop To Financial Freedom

Amanda Peterson March 28, 2024 • 1 Minute Read
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Unlock your financial potential! CreditSoup explains why financial literacy is key to managing money, reaching financial goals, and reducing stress. Free tips & resources!
11 Ways To Spring Clean Your Wallet

Amanda Peterson March 25, 2024 • 2 Minute Read
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Spring clean more than just your home this year. CreditSoup has your guide to a financial spring cleaning that will leave your wallet feeling fresh and ready to take on the year with these 11 financial tips!
Stuck in the 500s? 5 Ways to Boost Your Credit Score

Amanda Peterson March 15, 2024 • 2 Minute Read
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A credit score in the 500s can feel limiting. With some focused effort, you can climb out of the 500s and into a more favorable credit zone. CreditSoup has 5 key strategies to get you started.
Watch Your Credit Score

Amanda Peterson December 29, 2023 • 2 Minute Read
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It's Frugal Friday and as the holiday shopping frenzy winds down, it's crucial to be mindful of the potential impact on your credit score. Holiday spending and how you repay it, can have a big impact on your credit score.
The Shopping Effect on Your Credit Score

Amanda Peterson December 28, 2023 • 2 Minute Read
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Approaching holiday expenses with a thoughtful strategy, you can enjoy the festivities without compromising your credit score. CreditSoup has 4 tips to save your credit score.
Wise Spend Tip: Pay Off Credit Cards Monthly

Amanda Peterson November 1, 2023 • 1 Minute Read
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To truly maximize the benefits of credit cards, it's essential to develop a responsible payment habit – paying off your credit card monthly. In this week's Wise Spend Wednesday, let's explore the reasons why this practice can lead to financial freedom.
The Basics You Need to Know About Student Aid

CreditSoup Staff July 21, 2023 • 7 Minute Read
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Applying for college is a long and challenging process, so it's no surprise that students often fail to take advantage of free money available to them. There are essay's to do and government forms to fill out. But thankfully, there are many ways to access these opportunities to leave them with less school debt.
How Do Credit Scores Vary by Age and Region?

Holly Johnson June 12, 2023 • 4 Minute Read
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Most people don’t realize how important their credit score is until it’s time to purchase a home, finance a car, or borrow money for any other reason. It’s always smart to know your current credit score, as well as the steps you can take to improve it.
Beginners Guide to Your Credit Score

Amanda Peterson May 24, 2023 • 2 Minute Read
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What exactly is a Credit Score? CreditSoup breaks it down here. A credit score is a prediction of your credit behavior, such as how likely you are to pay a loan back on time, based on information from your credit reports.
9 Ways Credit Card Rewards Have Reshaped Our World

Holly Johnson May 24, 2023 • 6 Minute Read
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According to a 2021 report from the American Banking Association, consumers are more aware than ever before of the upside to having the right rewards card in their wallet. In addition to rewards for ongoing spending, generous signup bonuses are upping the ante and making credit card rewards even more attractive. With all these perks, our world will never be the same. Here are 9 ways credit card rewards have reshaped life as we know it.
4 Strategic Ways To Improve Your Credit Score

CreditSoup Staff May 8, 2023 • 4 Minute Read
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Paying off your debt will improve your credit, but understanding how to pay off your debt could help increase your credit score exponentially. Learn more about how to strategically manage your credit score and may the most of your payments.
Stick To a Budget

Amanda Peterson April 26, 2023 • 3 Minute Read
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This can be a tough task for some, but if you want to spend wisely, you must remain diligent about sticking to a budget! This week we go over how to stick to a budget. Having a budget keeps your spending in check and makes sure that your savings are on track for the future.
The Factors Separating Good Credit From Great Credit

CreditSoup Staff April 12, 2023 • 4 Minute Read
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If you are reading this and care about your financial health, odds are you check your credit score regularly. But do you know what goes into determining that mysterious number?
Job Hunting Hack: Clean Up Your Social & Financial Profiles

Kat Tretina March 7, 2023 • 4 Minute Read
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If you’re in the hunt for a job, you likely have polished your resume, bought an interview suit, and spend huge chunks of your day scouring job boards. However, if you haven’t taken the time to check out your web presence & monitor your credit report, you could cost yourself that coveted job.
5 Things You Need to Know About 0% APR Offers

Kat Tretina February 7, 2023 • 3 Minute Read
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If you’re looking for a new credit card, you’re probably bombarded with different advertisements. Cards often boast high rewards, signup bonuses, and travel benefits. Another common perk is a promotional 0% annual percentage rate (APR) offer.
5 Simple Ways to Boost Your Credit Score

Kirsten Thuringer December 29, 2022 • 3 Minute Read
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Let’s face it: Credit scores are a confusing concept. Most people don’t know much about their credit score aside from the fact it’s a three-digit number that controls nearly every financial aspect of their lives.
7 Ways Your Credit Score Affects Your Life

Kat Tretina December 28, 2022 • 3 Minute Read
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After your Social Security number, the most important number in your life is your credit score. You probably know that lenders look at your credit when deciding whether or not to issue you a credit card or loan, but your credit score plays a much more significant role in your life.
Using A Credit Card To Improve Your Credit Score

CreditSoup Staff October 14, 2022 • 3 Minute Read
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Credit cards can be a create way to establish a credit if you don’t have any or to improve your existing credit score over time. Learn more about how credit cards can positively affect your credit.
Getting a Perfect Score: Is an 850 FICO Even Possible?

Kat Tretina August 5, 2022 • 5 Minute Read
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Your FICO score is determined by completing a complex calculation of your entire credit history, broken down into an easy-to-understand three-digit number. The higher your FICO score, the more creditworthy you are.
7 Tips for Staying Debt-Free

Kat Tretina August 4, 2022 • 3 Minute Read
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Being debt-free gives you more financial freedom, allowing you to pursue other goals without the weight of interest charges and monthly payments on your shoulders. To keep yourself from ending up in debt again, use these tips and regularly review your finances.
6 Ways to Build Your Credit History

Kat Tretina May 26, 2022 • 5 Minute Read
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When I graduated from college, apartment shopping was a nightmare. I had a good job, a decent entry-level salary and I was only looking for a small studio, yet I couldn’t get approved on my own. Because I had been starkly anti-debt and never had a credit card or car loan, I had something worse than a low credit score - I had no credit at all.
How to Establish (or Reestablish) Good Credit

CreditSoup Staff October 8, 2021 • 8 Minute Read
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If you don't have a credit score or credit history, there are a variety of ways that you can build one. Some of these options may or may not be open to you depending on your age and income, but one or more of the options should be available to you. Additionally, so long as you're careful about it, there's no reason you shouldn't be able to use several of these methods to build a solid credit score.
Credit Score Myths You Can Ignore

Holly Johnson August 5, 2021 • 5 Minute Read
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To help you cut through the nonsense and find out the steps you can take to help your credit score in the long run, we decided to break down the top credit myths you hear today. Feel free to ignore these myths from this day forward.
How to Increase Your Credit Score in 5 Easy Steps

Chelsea Denning May 28, 2021 • 2 Minute Read
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You may be wondering, does my credit score really matter that much? Should I be making proactive steps to improve my score or just assume it will get better with time? We’re here to tell you that your credit score is important, and we are going to break down what you can do to improve that critical number.
Cosigner vs. Authorized User: Which Do You Need?

Ashley Dull August 26, 2020 • 6 Minute Read
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Although complex, the ins and outs of consumer credit aren’t actually that hard to understand. Unfortunately, the vast amount of lingo and jargon inherent in finance can often make it feel as though you’re trying to put together a puzzle without all the pieces.
A Reliable Way to Build Credit Without A Credit Card

CreditSoup Staff August 1, 2019 • 3 Minute Read
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If you are one of the millions of Americans with less than great credit, you probably have been denied for a loan or credit card, paid higher interest rates if you received credit, or had trouble renting an apartment or home because of your low credit score. With a Credit Strong account, consumers can build credit by setting aside savings.
What Credit Score You Need to Qualify for the Most Popular Credit Cards

Kat Tretina July 24, 2019 • 4 Minute Read
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To qualify for a strong rewards credit card, you’ll likely need a high credit score. More basic cards have lower requirements, so it’s easier to get approved for a card.
What is a Credit Score?

Kirsten Thuringer May 17, 2019 • 4 Minute Read
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If aliens judged us by our commercials, they’d probably assume everyone were interested in pharmaceuticals, luxury cars, and credit scores. Many advertisements urge viewers to know their credit rating by heart.
How to Do a Balance Transfer in 5 Simple Steps

Kat Tretina January 25, 2019 • 3 Minute Read
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ne way to tackle your debt and save money is to complete a credit card balance transfer. With this approach, you can get a lower rate, so more of your payment goes toward the principal rather than interest. It can help you save money and get out of debt faster.
New FICO Scoring Model Could Be Coming: What This Means

Holly Johnson November 26, 2018 • 4 Minute Read
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If you believe this new scoring model could benefit you, it’s important to understand how your banking data could play a role. FICO has mentioned how your checking, savings, and money market history can be used to boost your credit score in some cases, but what does that mean?
Improving Your Credit While you’re Still In Debt

CreditSoup Staff November 8, 2018 • 4 Minute Read
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Just because you can pay off your debt in large increments or all at onece doesn’t mean you can’t improve your credit score. Follow these simple step to improve your credit while your still in debt.
What is a Good Credit Score?

Holly Johnson September 20, 2018 • 5 Minute Read
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Like it or not, your credit score may play a bigger role in your life — and your lifestyle — than you think. It all starts with knowing what a good credit score is and the steps you can take to achieve this milestone. Keep reading to learn more about credit score ranges and how to improve your score over the long haul.
Understanding Alternative Credit Scoring

Ashley Dull August 8, 2018 • 5 Minute Read
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In an effort to reach the millions of consumers without a credit score, alternative credit scoring models are being developed that incorporate non-traditional data into their algorithms. While many of these models are operated by smaller companies, major scoring agencies, FICO and VantageScore, are also working on ways to expand access to alternative scoring models.
Why You Shouldn’t Care About Having an 850 Credit Score (and What to Do Instead)

Holly Johnson October 20, 2017 • 4 Minute Read
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If you’ve been trying to improve your credit, you probably already know that your FICO score is a numeric measure of your credit health. Depending on how your credit looks, your score will fall somewhere between 300 and 850, with a higher score representing better credit over all.
Why You Shouldn’t Shop Online with Debit Cards

Kirsten Thuringer October 18, 2017 • 5 Minute Read
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Despite the convenience and popularity of debit cards, banks have long warned against using them for online purchases. While many consumers dismiss this advice as overly neurotic, there are plenty of valid reasons to keep your debit cards offline.
6 Things to Do If Your Identity Was Stolen

Kat Tretina October 3, 2017 • 3 Minute Read
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Finding out that someone has committed fraud in your name can be one of the most stressful moments of your life. You feel violated and anxious, not knowing what else the person might do in your name.
Building Credit from Scratch – The Dos and Don’ts

CreditSoup Staff September 27, 2017 • 4 Minute Read
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A secured credit card uses a cash deposit as collateral. Normally, the cash deposit will be equivalent to the spending limit on the credit card. This allows the issuer to lower their risk taking on a new credit card user. The collateral works as a back-up plan for the credit card issuer; if the credit card bill isn’t paid on time, the issuer can use the deposit to pay off the balance.
How to Execute a Balance Transfer – and Actually Save Money

Holly Johnson September 5, 2017 • 5 Minute Read
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If you have high interest credit card debt, personal loan debt, or other mounting bills, a balance transfer credit card could be the answer to your prayers. Once you qualify for a balance transfer credit card, you can score 0 percent APR on transferred balances for anywhere from 12 – 21 months. Best of all, some balance transfer credit cards offer low fees or even no fees to consumers who qualify.
5 Lessons You Can Learn From a Bad Entry-Level Job

Kat Tretina August 28, 2017 • 4 Minute Read
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When I graduated from school, I worked for a small, privately-owned business. And it was awful. I was supposed to be a writer, but they insisted I also act as the janitor, cleaning the bathroom and storage areas. The owner literally screamed a lot and relished employees’ tears. It was a terrible experience, and I was miserable. However, I did learn a lot from that short period of employment. Those lessons helped me later in my career.
Myth Busted: No, Opening New Credit Cards Won’t Bomb Your Credit Score

Holly Johnson August 8, 2017 • 5 Minute Read
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Credit card signup bonuses are often considered the holy grail of affordable travel. Sign up for a new rewards credit card or travel credit card, hit a minimum spending requirement, and earn a bonus big enough to pay for several hotel nights or a free round-trip flight. If you’re into cash-back instead, you can also parlay your rewards into several hundred dollars in statement credits instead.
Protect Your Pocketbook: Your Identity Theft Prevention Checklist

Kirsten Thuringer June 27, 2017 • 4 Minute Read
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If I said that identity theft is no fun, it would be a lot like telling you the sky is blue and water is wet — a bit of an understatement. Identity theft is one of the most devastating things that can happen financially, but it’s also far more common than a lot of people realize. About 15 million U.S. consumers were affected by identity fraud in 2016, according to a study by Javelin Strategy & Research. In total, about $16 billion was stolen from those victims.
How Your Credit Score May Affect Your Job Search

Kat Tretina June 21, 2017 • 3 Minute Read
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If you’re interviewing for a new job, you know the importance of a polished resume, personalized cover letter, professional interview attire, and preparedness. One of the most overlooked factors that can affect your chances of getting a job is your credit.
Making Sense Of Your Credit Score

CreditSoup Staff June 1, 2017 • 1 Minute Read
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Several factors influence a credit score and how the score is determined. The higher the credit score the better chance the consumer will have to be approved for lower interest loans and prime credit cards. Along with approval odds, your credit score may have a factor in whether you are hired for your dream job or utility rates for cable, internet, etc. In this infographic, you’ll find a rundown of the different aspects that make up your credit score and how you can improve your score. Read on
6 Credit Myths That Won’t Go Away

Jason Steele May 30, 2017 • 3 Minute Read
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Do you find your credit score and credit reports to be a little bit mysterious? If so, then you’re not alone. The companies that create credit scores use secret formulas, and everyone else is left to guess what’s in it. Furthermore, there are many aspects of credit scores that are counterintuitive and seem to defy common sense. As a result, there are plenty of myths that have persisted about credit and credit scores.
Credit Score Vs. Credit Report, What’s The Difference?

Jason Steele May 2, 2017 • 3 Minute Read
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Credit can be very confusing. Americans can be granted or denied a loan and have very little understanding why. In addition, you have to make a special request to view your own credit report, and it can be dozens of pages long and almost appear to be written in a different language.
3 Ways to Help Improve your Credit Score

Kirsten Thuringer August 25, 2016 • 1 Minute Read
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Your Credit Score is very important and having a low score can affect you in more ways than one. Whether you’re buying a home or applying for a credit card, having a low credit score can impact your Annual Percentage Rate (APR), as well as determine if you are able to get a loan or approved for the credit card.
Don’t Be Scared By Your Credit Report or Credit Score!

Camie Sims October 1, 2015 • 2 Minute Read
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You always hear you need to face your fears. One way that’s often suggested is to learn as much as possible about what you’re frightened of; research can simplify and sometimes take away the unknown “scary” characteristics of your fear.
Protecting Your Credit

Scott Delzer January 8, 2015 • 1 Minute Read
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Let's start the New Year right with a few tips to help keep your credit safe!
Spring Cleaning for your Credit

Camie Sims March 1, 2011 • 1 Minute Read
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This is the perfect time to evaluate your credit situation and start to make those needed improvement.
Getting Credit with limited credit or no credit.

Camie Sims February 11, 2011 • 1 Minute Read
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If you have bad credit, limited credit or no credit, there are specific credit cards designed to help improve, build and establish your credit score on your credit report.
Know how to spot a credit repair scam.

Scott Delzer February 8, 2011 • 1 Minute Read
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There are lots of companies claiming to help repair your credit, educate yourself on how to spot a fraud.
Want to improve your credit score?

Scott Delzer January 18, 2011 • 1 Minute Read
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Learn what to do with old accounts and how open credit accounts impact your credit report. Find tips on how to manage old credit card accounts that could improve your credit score.
Common Financial Info from CreditSoup

Camie Sims January 11, 2011 • 1 Minute Read
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Let CreditSoup help you understand some basic credit information from the difference to secured vs unsecured credit to refinancing options, we are there to help.
Credit repair options for bad credit to boost your credit score.

Scott Delzer January 4, 2011 • 1 Minute Read
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Tips to improve the credit score that will help you save money the next time you apply for a credit card, auto loan, mortgage loan or even health insurance.
Tips to improve your credit report and credit score.

Camie Sims December 28, 2010 • 1 Minute Read
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Helpful tips to improve your credit score and effectively use your credit report.
Product Spotlight’s from CreditSoup

Scott Delzer December 15, 2010 • 1 Minute Read
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CreditSoup works with several lenders and merchants to provide you with a variety of financial products and services. We will highlight programs with information to educate you on the specific benefits and features the product or lender has to offer.

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