Credit

How to Build and Maintain Good Credit

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Your credit score is a crucial part of your financial health. It measures the capacity of your credit, the proficiency of your money management and your financial responsibility. An excellent credit score can open the door to large loans with better interest rates, as well as employment opportunities and more. On the flip side, a poor credit score can be a strong barrier towards building wealth, funding large purchases and finding gainful employment.

Upcoming Changes to Medical Debt Reporting in Credit Reports

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The three nationwide credit reporting agencies, Equifax, Experian and TransUnion, have announced they’re making changes in how medical debt is reported on a consumer’s credit report. The agencies could remove nearly 70% of medical debts from credit reports.

What’s changing?

The three credit reporting agencies have agreed to the following important changes to reporting medical collection accounts.

Is Inflation Here to Stay?

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These days with inflation, it feels like you almost need to take out a second mortgage just to fill up on gas and restock the pantry. What everyone wants to know is, are these inflated prices here to stay? According to the most recent report by the Bureau of Labor Statistics, U.S. inflation is currently running at a 13-year high of 5.4% — and it’s showing no signs of slowing down. Here’s what you need to know about the current state of the U.S. economy and what you can likely expect in the coming months.

What You Need to Know About the New Child Tax Credit

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The IRS is sending out letters to more than 36 million families about getting monthly Child Tax Credit payments (as part of the American Rescue Plan) starting in July and lasting through December.

The IRS is sending letters to families who may be eligible for the tax credit based on information provided in either your 2019 or 2020 federal income tax return. Later, a second letter will be sent to eligible families letting them know the estimated amount for each monthly payment. 

How Your Credit Score Impacts Your Financial Wellness

How Your Credit Score Impacts Your Financial Wellness

Your credit score is determined by many factors. It affects just about everything including housing, insurance rates, employment, as well as loan rates and loan eligibility. That’s why knowing what makes your credit score go up or down is important to your overall financial wellness. Here are some helpful tips about how your credit score is calculated, how it affects your life and how to improve your credit score.