Financial Fundamentals Blog

How Do Student Loans Really Affect Your Credit Score?

  • 7 17 Staff
If you took out student loans for your college education, you may be wondering how student loans affect credit scores.    Your credit score is one of your most important assets and impacts many things in your life, such as your ability to rent an apartment, purchase a house or car, or apply for a personal loan or credit card....

5 Tips on How to Improve Your Credit Score

  • 7 17 Staff
Your credit score is one of your most important financial assets. It can affect a lot of your financial decisions such as purchasing a car or house, applying for a student loan or credit card, and even renting an apartment.    A low credit score can have many impacts on your life — and not just financially. It can also affect...

Here's How Much a Low Credit Score Can Cost You

  • Francesca Sacco
  Your credit score is often cited as one of your most important financial assets. But while financial experts love to discuss the risk of a low credit score, many consumers aren’t aware of the material costs that come with negative marks on their credit report.   The costs of a low credit score can span many aspects of your...

The Advantages of Keeping a High Credit Score

  • Francesca Sacco
  Financial experts all talk about the importance of building and maintaining good credit. But what exactly does this mean — and why should consumers care?   If you haven’t pulled a credit report or applied for credit recently, your credit score might not be at the top of your mind. But your credit score plays a crucial role in...

Tips to improve your credit score

  • Francesca Sacco
2020 was a difficult year financially for many. If the pandemic impacted your finances, it’s a good idea to develop a new strategy for any financial moves you have planned, like purchasing a home or car, or readjusting saving and spending goals.

How Credit Scores Are Determined and Why They Matter

  • Francesca Sacco
  You might not think about credit scores much in your day-to-day life — and if you’re just getting started managing your own money, you might have no idea what your credit score even is.    But while this number might reside beyond your line of sight, it can have huge implications for your short-term finances, and it could...

The difference between a hard credit inquiry vs. a soft credit inquiry and why they matter

  • Francesca Sacco
Did you know that every time you apply for credit, you could be impacting your credit score? Potential creditors or lenders check your credit history each time you apply for a new credit card or loan. Depending on the scenario and the inquiry, you could see a change in your credit score. Here’s a quick comparison of hard and...

Should I Consolidate my Debt?

  • Francesca Sacco
Are you struggling with debt and considering debt consolidation? Before you take out a consolidation loan, make sure it’s the right choice for you.

What to know before accepting COVID-related credit card relief

  • Francesca Sacco
As the COVID-19 pandemic continues, many credit card issuers are offering temporary credit card relief. But know that accepting assistance from credit issuers comes with some caveats. Here’s what you need to know if you take your credit card company up on a relief offer.

Start the New Year with a Clean Financial Slate

  • Francesca Sacco
January is right around the corner, and the New Year is the perfect time to focus on your goals. Make 2020 the year you address your financial goals. Regardless if you want to save more, improve your credit score or pay down debt, we’ve compiled a list of tips to help you start the New Year with a clean financial slate.

Tips for Recent College Grads to Avoid Common Financial Pitfalls

  • Francesca Sacco
Congratulations! Your hard work has paid off. Diploma in hand, you’re ready to tackle the next phrase of your life.

But the joy of graduating from college can quickly fade once graduates begin to grasp their new-found responsibilities, especially when it comes to their financial future. Navigating rent, a car payment, insurance, cable and groceries can be overwhelming. Throw student loan payments and other financial burdens into the mix, and it can be downright frightening.

The worst thing recent grads can do is to start using credit cards to help them maintain their lifestyle. The average college grad owes $4,100 on credit cards at the time of graduation. Not including student loans. Roughly 69% of graduates took out student loans and owe an average of $29,800 in federal and private debt.

Four signs you might be a victim of tax-related identity theft

  • Beth Ann Tabak
Though the Federal Trade Commission (FTC) reports that tax-related identity theft is on the decline, it’s still a possibility. Here are a few signs that could indicate you’re a victim.