Building Credit Archives - The Ways To Wealth

How Buying Tradelines Can Hurt Your Credit Score

Cleveland Dietz — Mon, 22 Apr 2024 21:12:56 +0000

If you’ve got a low credit score or a limited credit history, buying tradelines — which is also referred to as “piggybacking” — may seem like a good idea. After all, many companies that sell tradelines promise that you’ll get a near-immediate boost to your credit score, which could be the difference between buying a jalopy and getting a loan for a daily driver. While that’s true in some cases, buying tradelines can be expensive and risky. And it doesn’t always work. So we recommend avoiding this approach in favor of safer, more reliable options. Here are the most important […]

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How to Build Credit at 18: Six Smart Tips

Holly Humbert — Sat, 16 Mar 2024 15:30:14 +0000

Having a good credit score can help you save money on student loans, rent an apartment, secure a job, purchase a car and more. But if you’ve just turned 18 and have no credit history, you won’t have a credit score yet. To start building one, you need to engage in activities that are reported to the three major credit bureaus (Equifax, TransUnion and Experian). This article highlights seven strategies you can use the day you turn 18. First, we recommend reading the brief overview (below) of how your credit score is constructed; knowing this information will help you understand […]

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Cushion Review: Organize Your “Pay Later” Payments and Build Credit

R.J. Weiss — Fri, 16 Feb 2024 22:11:00 +0000

Cushion is a financial management platform that offers several services. The most notable of these are the ability to organize all your “buy now, pay later” payments in one place and credit building tools that can help increase your credit score over time. In this Cushion review, we’ll examine the key details of how Cushion builds credit and assess the pros and cons of its credit building features. Eight Things to Know About Cushion Before Signing Up How Cushion Works Cushion was originally an AI-powered tool that helped negotiate bank fees, hence the “ai” in its website address. However, it […]

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Self Loan Review: Legit App for Building Credit?

R.J. Weiss — Wed, 10 May 2023 15:55:18 +0000

Self, formally known as Self Lender, offers products that help people establish credit or build their credit. In this Self review, we’ll take an in-depth look at their products, explain when using these products makes sense, and outline their potential impact on your credit score. What Is Self? Self is a financial technology company with the stated mission of helping people “build credit and savings and reach [their] financial goals.” Self’s two offerings consist of: Self Credit Builder Account With a Self Credit Builder Account, you’re essentially taking out a loan that you pay back over time in the form […]

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The Best Free Credit Score and Credit Monitoring Apps

Sarah Foley — Fri, 20 Jan 2023 21:17:30 +0000

Dozens of digital credit monitoring tools have hit the market over the last few years. While it’s easier than ever to access your credit score for free, it can also be difficult to determine which app is the most effective. We’ve rounded up the best free credit score apps to help you select the one that’s ideal for your needs. We’ll also cover how to get your three major credit bureau reports for free. Best Overall: Credit Karma Credit Karma gives you updated credit score information daily. They provide credit reports from two out of the three major credit bureaus […]

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Credit Karma Review: Can This Free Service Raise Your Credit Score?

Sarah Foley — Wed, 14 Dec 2022 19:44:00 +0000

Credit Karma is a free website and app that helps people learn about (and potentially improve) their credit scores. This review explains how it works and what features are available, lists the pros and cons, and answers some of the most common questions people have about using the platform. Credit Karma Key Facts Here are some key facts to know about Credit Karma before signing up. 1. Credit Karma does not give you your FICO score. Instead, it gives you your VantageScore 3.0. VantageScore and FICO are two different credit scoring models. VantageScore 3.0 is a credit score model developed […]

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Credit Strong Review: A Good Way to Build Credit & Savings?

R.J. Weiss — Wed, 14 Sep 2022 18:39:19 +0000

Credit Strong offers three loan products designed to help people improve their credit scores. This Credit Strong review will examine the different products, as well as their requirements and their alternatives, to help you decide whether Credit Strong is right for you. Note: While Credit Strong serves businesses, this review is focused on their products for individuals. How Credit Strong Works To understand how Credit Strong works, it’s important to understand the factors that impact your credit score and the difference between revolving and installment credit. First, the factors that impact your credit score are: Regarding the credit mix factor, […]

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Cred.Ai Credit Card Review (2024): How It Works, Pros & Cons

R.J. Weiss — Sun, 10 Apr 2022 17:14:45 +0000

“A credit card spending experience.” Those are words you don’t hear from Chase, American Express and Bank of America. And that’s intentional, because what cred.ai offers is different from the competition. In this cred.ai review, I’ll simplify what the company offers, answer common questions, and help you decide if the new “credit card spending experience” they promise is good branding or a worthwhile product. cred.ai Overview If you’re brand new to what cred.ai offers, here’s a breakdown: cred.ai FAQ Before we get into cred.ai’s features, let’s answer some of the common questions about the cred.ai Unicorn Card and the cred.ai […]

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Credit Sesame Review: The Pros, Cons and Best Features

R.J. Weiss — Thu, 03 Jun 2021 13:51:00 +0000

This is my review of Credit Sesame, the popular free credit score and credit analysis tool. In this review, I’ll cover: Let’s jump right in. 8 Things to Know About Credit Sesame Before Signing Up Visit Credit Sesame. Credit Sesame Basics Credit Sesame is a free service (with paid options) aimed at people who want guidance for improving their personal finances, with an emphasis on raising their credit score. It offers several tools to help you boost your credit score, clean up your credit report, save money, and even protect you from identity theft. In particular, Credit Sesame lets you check […]

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