Can you trust the credit score provided by Credit Karma and similar tools provided on your credit card’s smartphone app? It seems that with just a click of a button, you can view your credit score—but does that number match what an actual credit reporting bureau has? It is a common misconception that there is …
Category Archives: Credit Score
Should I use my tax refund to pay off my car loan and credit card debt?
What’s the smart thing to do with your tax return? Should you save your refund for a future emergency? Should you use your tax return to pay off debt? For most of us, tax season signals the impending arrival of some so-called extra money. While it’s not free money—it’s actual earnings on which you overpaid …
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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 …
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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 …
New FICO 10 Scoring Model
Have you heard about the new FICO 10 scoring model launching this summer? The credit-scoring system is updated every five to seven years, and it’s up for review now. Here are the big changes this time around. Under the new FICO 10 scoring model, creditors will be able to see back 24 months of payment …