Monitoring your credit by reading your credit report is the No. 1 step to improving your credit score. Your credit report offers you a complete view of your current and past credit and financial situation. But without a guide, reading your credit report can seem overwhelming and confusing. Use our easy-to-follow guide to take the frustration out of reading your credit report: Section 1: Identifying Information This section contains: 1. Your name 2. Current address and previous addresses 3. Employment information 4. Social Security number 5. Birth date You may be tempted to read quickly over this section, but take a minute to ensure everything is correct. For example, carefully look for: An incorrect house number on your address Outdated employer information A SS number off by just …

Curious about how your credit and financial state compares with the rest of the country? The numbers don’t lie. We’ve compiled 25 useful and interesting credit, debt and saving statistics to help you better assess your situation and learn more about your credit score today. 1. On average, consumers have 13 credit obligations on record, including credit cards and installment loans, according to FICO. 2. 50% of all consumers have been 30 or more days late on a payment, according to FICO. 3. 3 out of 10 have been 60 or more days overdue, FICO reports. 4. 1 in 7 consumers uses 80% or more of their credit card limit, FICO reports. 5. 40% of credit card holders carry a balance less than $1,000, according to FICO. 6. 15% carry balances in excess of $10,000, according…

When your college student comes home for the first time this fall, they’ll likely bring an intense craving for a home-cooked meal, a dozen loads of laundry and (hopefully) a few decent grades. But what you hope won’t arrive on your doorstep this fall is your college student in credit card debt. College students in credit card debt are no doubt a major problem nationally. According to a study by student lender Sallie Mae, more students than ever before have their own cards, and an alarming number carry a large balance. Study findings include: • 84% of college students have credit cards • 50% or more have at least four cards • The average balance is $3,173 • 75% carry a balance • 60…

Do you pay your bills late and submit the minimum payment or less on credit card balances? Have you made it a habit to max out credit cards? Are you relying on payday loans just to survive? You aren’t alone. But don’t be intimidated or overwhelmed if you need to improve a bad credit report . Instead, think back to your college days (and the time when your unhealthy credit practices may have started). Approach cleaning up a poor report just as you did your educational career: Hard work → high grade point average → dream job Follow that formula to clean up poor credit: Hard work → high credit score → dream home and car GPA                                     Credit …

Mr. and Mrs. Poor Credit are no different from the many Americans with serious financial woes. Outstanding loans, credit card debt and a job loss combined to put them in an undesirable financial situation. Follow the journey of Mr. and Mrs. Poor Credit in their diary. Sept. 7, 10:00 am: Credit is more important than you might think. It determines the house you can buy and the car you drive. It can even affect the job you may or may not get. I’m waiting patiently to hear back from a job I recently applied for. The recruiter called a few minutes ago and said they were going to run a criminal and credit check. “Do you…

You aren’t likely to see “good credit” listed as a required skill for many job postings. But thanks to a growing number of companies conducting employer credit checks, many job seekers are realizing poor credit can cost them employment. In today’s job market, the unemployment rate is high and the pool of talented job candidates is vast. Employers have the luxury of being as choosy as they like. And with employer credit checks less expensive than they once were, companies may choose to select candidates with clean credit, The New York Times reports. As unfair or harsh as the practice sounds, it’s by and large legal at this point. But lawmakers in several states have proposed legislation to …