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13 Surprising Factors That Affect Your Credit Score (and Why Small Business Owners Should Care)

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When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. There are five notable components of a personal credit score.

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Private vs. Federal Loans: Which is the Better Choice for Your College Financing?

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No credit requirements Most students get federal loans easily sanctioned since the government doesn’t check their credit scores. Only for Direct PLUS Loans, the lenders would check the credit report of your parents to detect whether they have any negative items, such as bankruptcy. Their power is limited by the state.

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How To Rebuild Credit After a Financial Crisis

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Bankruptcy will likely exacerbate any credit issues, causing an initial drop of about 100 to 200 points in your credit score. Getting on top of your financial woes and rebuilding credit as soon as possible is vital to financial recovery. Ensure your bank or credit union insures deposits through the NCUSIF or FDIC.