Category: Personal Credit

7 Credit Hacks To Raise Your FICO Score

7 Credit Hacks To Raise Your FICO Score

  Before you try any credit hacks with your personal credit score, you should understand the basics. In our post on How your FICO Score gets determined, we cover the basics for keeping your FICO scores healthy. Do those things first. For example, Payment History makes up 35% of your FICO scores. The best thing you can do for your FICO scores is to make sure you always pay on time. It won't happen overnight, but it is the single biggest… Read More
What Credit Score Does Your Lender Use?

What Credit Score Does Your Lender Use?

Did you know: As a small business owner, you can be judged by more than 7 different credit scores! So when applying for business credit or a loan, you probably won't know what score—or combination of scores—your lender uses. And ignoring any one of them could ruin your chances of getting approved. Credit errors can kill your app A few years ago, Nav’s founder and CEO, Levi King, experienced this problem first hand. “In 2005 I got mailed a generic… Read More
Pepperdine survey: Lenders see business borrowers’ credit quality decline, requiring more collateral

Pepperdine survey: Lenders see business borrowers’ credit quality decline, requiring more collateral

This morning our friends at The Coleman Report shared some stats out of the Pepperdine Private Capital Market Project report. It's a study of all major types of funding and contains survey data about what bankers have seen in lending trends. Among other things, one stat stands out for me: "Over the last 12 months, [lenders report] seeing decreased credit quality of borrowers applying for credit, with an increase in demand for business loans, leverage multiples and focus on collateral… Read More