How Will a Line of Credit Affect a Credit Rating?

Answer Many want to improve their credit scores, but with the various criteria credit reporting companies use to determine scores, it's difficult to know what you should be focusing on. Opening a line of ... Read More »

Top Q&A For: How Will a Line of Credit Affect a Credit Rating

Upon cancellation delinquent travel charge cards may be reported to credit bureaus or similar entities and can affect your credit rating?

Does ordering my credit score affect my credit rating?

Ordering your own credit score is considered a soft inquiry and will not harm your credit score. Soft inquires are generated when an individual checks their own credits or a business/lender they ha... Read More »

Can Reduction in a Home Equity Line of Credit Affect My Credit Score?

A home equity line of credit is a type of secured revolving credit that uses your home's equity -- the value of the home minus mortgage owed -- as collateral. In certain cases, your lender may deci... Read More »

Does foreclosure affect my credit rating?

Foreclosure will affect your credit score negatively. Impact depends on where you are before the foreclosure. Excellent scores drop 85 to 160 points, but good to bad scores see a smaller drop becau... Read More »