How Information Ends Up On Your Credit File

If you’re considering getting a loan of some kind, you probably know the importance of a good credit score. You might even know how your credit score is determined.

A credit score is made up of several pieces of information. According to myFICO, there are five things that are taken into account, each accounting for a different percent of the score.

Payment history makes up 35%; amounts owed, 30%; length of credit history, 15%; and new credit and credit mix each make up 10%.

Information That Sticks

Once the credit bureaus have a piece of information that fits into one of these five categories, it will be included on your credit report for a certain number of years, depending on the type of information.

According to Equifax, one of the three credit bureaus, positive information will stay on your credit report for as long as 10 years after the most recent activity. This includes things like paying your bills on time and closing out loans. Continue reading…

The DriveTime Gift-Away-Approve-A-Thon-Extravaganza-Fest – Ended 1/31/2016

We’re helping you #GetApproved this holiday season for what you were turned down for in the past!

Tell us what you missed out on, such as getting approved for a home loan or getting a pony for Christmas (nothing’s too big or too small!), and you could be selected as one of 25 winners to receive a $100 VISA gift card to help fund your approval.

By entering our Gift-Away-Approve-A-Thon-Extravaganza-Fest, 10 lucky winners will be selected for the grand prize – a $500 VISA gift card!

Click “continue reading” to enter the sweepstakes!

Break These Financial Habits Before Your Kids Pick Them Up

Parents are usually a child’s first role model.

Children know they can trust their parents to take care of them, give them nourishment and love and teach them the skills they need to be a successful person. There are many lessons parents teach kids, whether they are intentional or unintentional.

Many parents find their children reflecting the way they speak and behave. Whether they are emulating positive habits is up to the parent; children are sponges who take in nearly everything they see their parents do.

When it comes to financial habits, you want to make sure your children are picking up on the right skills.

There are many bad habits adults fall into when dealing with their money. Shaking these habits early is a good idea for anyone. For parents, though, it will not only help budget better for the family, but it will also prepare children for the day when they will be financially independent. Starting early is the best way to ensure future generations will know how to handle their money when it really matters. Continue reading…

How To Have Your Family Live Off Of One Income

Many American families today have two working parents contributing to expenses like groceries, car payments and mortgage payments. However, a growing number of families have made or are making the transition to living on one income.

According to Pew Social Trends, in 2012 there were 10.4 million stay-at-home mothers. Another study by the research group found in the same year 2 million stay-at-home fathers. Still more couples without children are paying their expenses through one paycheck. For some this is a choice ,while for others it is the result of a layoff.

In any case, the transition from two incomes to one can be a difficult one if the family is unprepared. Continue reading…

3 Terms To Know When You Trade-In Your Car

When it’s time to sell a car, owners have several options. Money Crashers explained that some try to sell it themselves. They’ll put up a sign and spread the word within their inner circle. That way, they can negotiate the deal and choose the person who the car will be sold to. They can also sell it by putting up ads in the newspaper or on websites like Craigslist. This will cast a wider net and could potentially draw in more buyers.

The other choices owners have is to take their car to a dealer to trade it in. This option might not get them the best deal, though it is by far the easiest. The deal can be made and the car owner can drive off in a new car that day. Plus, the car’s value will go directly toward the purchase of the new car. Even though this choice is fast and simple, it can still be a complicated path and there are several terms car owners should be familiar with before trading in their car.

Here are 3 terms that we think are a must know before going to trade in your car. Continue reading…

Previous Page «‹25 262728 29 ›»Next Page