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Common credit myths debunked
Credit myths can mislead consumers, leading to poor financial decisions. This article debunks common misconceptions about credit scores, reports, and management. Understanding the truth helps you navigate credit confidently.
How Credit Affects Loans
Your credit plays a pivotal role in determining your ability to secure loans, the terms you’re offered, and the overall cost of borrowing. Whether you’re applying for a mortgage, auto loan, personal loan, or student loan, lenders rely on your credit profile to assess risk. This article explores how credit influences loans, including approval chances, interest rates, loan terms, and strategies to improve your credit for better loan outcomes.
How to fix bad credit
Bad credit, typically defined as a credit score below 600, can limit access to loans, increase interest rates, and affect opportunities like renting or employment. It often results from late payments, high debt, or negative marks like collections or bankruptcies. Repairing bad credit takes time and discipline, but with consistent effort, you can improve your score and financial standing. This article outlines practical steps to fix bad credit and rebuild your financial health.
Credit Cards That Build Credit
Building a strong credit score is essential for financial health, enabling access to loans, mortgages, and favorable interest rates. For individuals with limited or poor credit history, certain credit cards are designed to help establish or rebuild credit. This article explores how credit cards can build credit, the types of cards available, and best practices for using them effectively.
Best ways to improve credit
Improving your credit score is key to gaining financial freedom and accessing better loan rates, housing, and job opportunities. This article outlines the most effective strategies—like paying bills on time, reducing debt, checking for credit report errors, and using credit-building tools—to help you boost your credit and maintain long-term financial health.
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1 Earna Credit Cards does not have annual fees paid upfront, instead, to help you manage your finances, you will only need to pay monthly fees included on your monthly statement.
2 Individual cases may vary. Please contact our Support Team if you experience difficulties.
3 Earna reports your payment activity to one or more credit bureaus to help establish your credit history. Credit scores are calculated using complex models that consider multiple factors. Making on-time payments regularly can help improve credit scores, while missed or late payments can lower them. Individual results may vary.
4 Approval is not guaranteed and terms and conditions apply.
5 Refer to Earna Rewards Policy for details on earning cashback. Other terms and conditions may apply, find the complete policy here.
6 Credit limit increases are subject to eligibility and require the account holder’s express consent. Terms and conditions apply.
7 Eligible interest rates may decrease by up to 1% annually for accounts in good standing, subject to a set minimum and other eligibility criteria. Not all rates are eligible. Terms and conditions apply.