Credit Archives - Optio Money

How to Effectively Manage Credit Cards as a Homeowner

Credit / By Tim McMahon / 6 minutes of reading

Knowing how to effectively manage credit card debt as a homeowner will empower you to take charge of your finances. As a homeowner, your financial responsibilities extend beyond mortgage payments to include managing expenses, budgeting for maintenance, and planning for unexpected costs. So, you can’t overlook such an important contributor to your overall financial stability and flexibility.

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Unlock The Benefits Of A Good Credit Score

Credit / By Contributing Author / 4 minutes of reading

The first thing that a lender checks is your credit score. It provides them with a basis for determining whether you have the potential to repay the borrowed money. So there are a variety of benefits to maintaining a good credit score.

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How Your Credit Score Affects You and Your Family

Credit / By Tim McMahon / 6 minutes of reading

Your Credit Score shows your creditworthiness and how likely you are to pay off a loan on time. It’s based on your credit history and calculated using the information on your credit reports. About 90% of lenders use FICO Scores to decide whether they’ll lend you the funds.

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Smart Finance Moves: Questions to Ask Yourself Before You Buy a New Car

Credit / By Tim McMahon / 3 minutes of reading

Buying a car is a life-changing decision. It affects both your current and future life. Therefore, you need to ensure that the decision you make is the right one. You do not want any regrets months or years later when certain aspects of your current life change. Therefore, you should have some key questions in mind that will help you make the best decision.

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How to Check Your Credit Score Before Applying for a Mortgage

Credit / By Contributing Author / 4 minutes of reading

A good credit score is a must-have for many things in modern society. The most obvious is that it can make the mortgage application process go a lot more smoothly. If you aren’t ready to buy yet, it can make renting a comfortable apartment a lot easier as well. One

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Learn about Loans: 5 Credit-Building Tips New Borrowers Should Know

Credit / By Tim McMahon / 4 minutes of reading

Shopping for a new car or house can be tricky if you do not have the cash to pay for the purchase in its entirety and do not have a credit history. Chances are that if you are a young adult recently out of school and newly in the workforce,

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5 Essential Tips for Managing Your Credit Score

Credit / By Contributing Author / 5 minutes of reading

Your good credit enables much more than granting you amounts of money you can spend and pay back over time. It follows you into everything from renting an apartment to getting a job. It determines the interest rate you will pay on credit cards, financing and loans. It can even

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Bad Credit: What You Need to Know About Buying a Car with Poor Credit

Credit / By Contributing Author / 2 minutes of reading

Bad credit is generally defined as a credit score in the low 600’s, specifically at or under 629. There are many reasons that can contribute to low credit, but the bottom line is that if you don’t have a good credit score, it can be difficult to purchase the items

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Is it Ever Wise to Owe Money to a Creditor?

Credit / By Tim McMahon / 4 minutes of reading

Credit and debt have developed a bad reputation in the consumer market. Many consumers actively work hard to pay down debt balances and dream of becoming debt-free. However, debt and credit are not always a bad thing. In fact, they can be used advantageously in different situations. But first you

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4 Ways to Protect Your Credit Score

Credit / By Contributing Author / 3 minutes of reading

Your credit score is an important part of your life. Not only can it determine whether you get a loan and how good of an interest rate you get, it also can be a factor when renting an apartment, getting an insurance policy and even applying for certain jobs. Because

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