Installment Credit Versus Revolving Debt

What’s the difference between installment credit accounts and revolving debts? The answer impacts your credit score and/or the way a potential lender evaluates your financial picture. Let’s unpack these credit buckets. Installment Credit Installment credit is a loan that offers a borrower a fixed, or finite, amount of money over a specified period. Examples are […]

How Does a Loan Forbearance Affect My Credit History?

As the COVID-19 public health crisis continues to cause chaos in the U.S. economy and job market, more families are struggling to make their mortgage payments. This reality has led to much discussion on the topic of mortgage forbearance. But how does a loan forbearance affect my credit history? How does a loan forbearance affect […]

National Credit Education Month

March is National Credit Education Month, so there is no better time to educate yourself and others on the importance of understanding the ins and outs of your credit score! March is National Credit Education Month — the perfect time to consult with Scorewell, Inc. about how to achieve your optimal credit score. Did you […]