Loans

Loans of any kind represent an important part of your credit report, with the time interval, amount of debt incurred and payment history all heavily influencing whether you can borrow again in the future.

Latest Articles

You Got Into College, Don’t Mess It Up This Summer

Here’s a 12-step guide for parents and incoming college students to avoid a summer...

Here’s Everything You Need to Know About Consolidating Your Student Loans

Find out if student loan consolidation may be a good option for your federal...

A Parent’s Guide to Deciphering College Financial Aid Letters

College financial aid letters can be confusing and difficult to decipher. Here are some...

Best Options for Dealing with an Upside Down Car Loan

The economics of buying a car is driving many households into a financial pothole....

How U.S. College Costs Stack Up With the Rest of the World

For many students in the U.S., a college education comes with sky-high tuition costs....

6 Tips for First-Time Car Buyers

Buying a car is the first major purchase for many people, particularly young adults....

Do you get penalized for paying off a car loan or mortgage early?

Your credit scores will not be penalized for paying off a car loan or...

How Payday Loans Work

Payday loans are short-term loans you get to cover expenses until your next paycheck....

You Don’t Need a Cosigner to Get This Kind of Student Loan

With high school graduation fast approaching, figuring out how to pay for college is...

7 Steps to Get a Business Loan

Building a business requires capital and one way to obtain that capital is through...

7 Ways to Fund Your Small Business

One of the biggest challenges of launching a new business is finding the cash...

What Is a Secured Loan?

A secured loan is a loan backed by collateral—financial assets you own, like a...

How to Improve Your Credit Score to Qualify for a Loan

  • Make on-time payments on one or more credit cards or credit accounts, utility bills and medical bills.
  • Maintain low balances on credit cards and other forms of revolving credit.
  • Apply for new credit only as needed, but keep unused credit cards open.
  • Pay off debt rather than move it around.
  • Protect credit accounts from fraud and identity theft.
  • Avoid any financial legal judgments.

How Much Personal Debt Should You Have

As a general rule, your total debt including home, auto, and personal commitments should amount to no more than 36 percent to 41 percent of your monthly income before taxes.