How would you deal with a situation where your mother racked up $30,000 debt in your name without telling you and asked you to repay it for raising you? That happened with a young daughter last year before graduating from college. In a recent Reddit post, she shared her ordeal about finding out her mother’s … Read more
A credit score determines your creditworthiness. When you apply for products like credit cards, loans, or mortgages, lenders check your credit score and profile to review your loan repayment history, credit utilisation, credit mix, and enquiries before determining your loan eligibility and terms. A poor credit score could lead to application rejection or approval with … Read more
High interest rates and elevated inflation since the US Federal Reserve’s aggressive monetary tightening campaign have translated to more missed payments and rising debt levels. Moreover, last year’s average FICO credit score declined for the first time in a decade, as outstanding credit card balances transitioning to delinquencies have continued to increase since 2022. A … Read more
Have you ever witnessed your credit score drop despite making timely credit card and loan repayments? Your credit score is determined by several factors apart from your repayment history. Your FICO credit score ranges from 300 to 850 and is checked by lenders when you apply for a loan, credit card, or mortgage. A score … Read more
