April 29, 2019

Handling Credit Limits Not Reporting Accurately on Credit Reports

Usage of credit accounts for 30% of a credit score. Consequently this is a very important factor in the FICO scoring model. Usage is calculated by dividing your current balance by the credit limit. For example; $500 balance on a credit card that has a$1000 limit: $500/$1000 = 50 % Usage Percentage Affects on the FICO Score In addition, higher utilization rates  lowers credit scores. […]
April 1, 2019

Important Changes to Itemized Deductions when Filing Taxes

Tax law changes in the Tax Cuts and Jobs Act (TCJA) affect almost everyone who itemized deductions on tax returns they filed in the past. One of these changes is that TCJA nearly doubled the standard deduction for most people. As a result, many people may find it better to take the standard deduction. However, some people may still think about itemizing if their total deductions […]
February 18, 2019

“Mortgage Protection” through Term Life Insurance

Purchasing a new home can be both exciting and stressful. For many people, a mortgage is the largest investment they will ever make in their lifetime. But would your loved ones be able to cover mortgage payments if something unfortunate were to happen to you? Let’s not sugar coat it. What if they walked out of the house tomorrow, got into a bad car accident, […]
February 11, 2019

Authorized User Accounts

For many years adding someone on as an authorized user to a well-established account was the mecca of instant credit score increases and instant approvals. Adding authorized users became widely known the great impact of adding additional accounts with high credit limits and lengthy history. a new business model was quickly created- “Tradelines for Sale”. Therefore vendors contracted with credit worthy consumers to “Rent” their […]