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Ask an Expert: Will closing a credit card improve my score?

Dear reader, While closing a credit card may seem like a good way to improve your score, it could actually have the opposite effect. When you look at the factors that influence your credit score, the most important ones are the payment history (which accounts for 35% of your score) and the credit utilization ratio (30%), followed by the length of your credit history (15%), and your credit mix and …Read More

Ask An Expert: What is a credit report and how do I read it?

Dear reader, we all know that credit reports are important. But not many people know what reports look like or how to read the information on them. Understanding a credit report is easier than it seems if you know what to expect when you review your report. Your credit reports are generated by the credit bureaus or consumer reporting agencies, each containing detailed data about your credit behavior. This data …Read More

3 Ways a New Credit Card Can Help Rebuild Your Credit

For those with a tarnished credit history, applying for a new credit card might seem questionable. After all, that card you opened and maxed out in college is what caused your credit score to start going south in the first place. However, it’s not so cut and dry. What if I told you that opening a new credit card might actually improve your credit score? The difference between now and …Read More