15 Things that WON’T affect your credit.

We spend a lot of time on this blog scrutinizing the factors and financial decisions that affect our credit scores, but we realize it’s important to educate consumers what WON’T hurt their credit scores. But as you go down this list, remember that there are different credit agencies and scoring models that treat things differently, and we always advocate paying all of your bills and debts on time. That being said, here are 15 things that WON’T hurt your credit ...

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Are all credit score drops treated equally? Where your score starts affects how much a negative item will hurt it.

Missing a payment, maxing out a credit card, or having an unpaid account submitted to collections are all things that could hurt your credit score. Likewise, too many inquiries of the wrong type, a bankruptcy, and applying for a store credit card may also drop your score. But most people don’t realize that how much your score drops – just a few points, or sinking to new lows – depends on what your credit score was BEFORE the damage occurred.

It’s ...

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How long do negative items stay on your credit report?

How long will late payments, collections, bankruptcies, foreclosures, and other negative items remain on your credit history?

So you slipped up and missed a credit card payment once, or the dog ate the bill for your last car loan payment so it wasn’t paid on time. Inevitably, life will throw some circumstances at us that end up as negative items on our credit report. But the question we set out to answer today is, “How long will negative information STAY on our ...

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​Taking the temperature of credit scoring: Vantage is hot, FICO is not.

For sixty years now, the name ‘FICO’ has been synonymous with credit scoring, as the Fair Isaac Corporation is the preeminent credit model in the field. But if we stop to take the credit scoring industry’s temperature now, we’ll find that FICO has been cooling of late – while a new competitor, VantageScore, is red hot.

Make no mistake about it; FICO is still dominates the credit scoring landscape. In fact, each year FICO sells 10 billion scores to lenders who ...

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10 Surprising things that could hurt your credit score

Most of us understand the basics about credit reporting and what might hurt our score – missing a mortgage payment, maxing out a credit card, or shopping around for too many loans at the same time. But there are plenty of little known credit pitfalls, too, including these ten:

1. Overdue library books
Remember that book you checked out from the local library 3 ½ years ago that you never returned because it fell in between the seats of your car? ...

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Young Money; Why young people are struggling mightily with credit scores.

Do you remember when you first went to college or finished high school and entered the working world and got your first credit card? While you may have felt like an empowered, responsible adult and used it to charge some really important purchases, like CDs, new clothes at the mall, and a lot of late night pizza, chances are that you made a few mistakes with that card along the way, dinging your credit substantially.

Some things change, but some ...

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The Top-10 Blue Water Credit Blog Posts of 2015

As 2015 comes to a close and we look ahead to 2016 with fresh hope, optimism, and lofty goals, eager to face the challenges it will hold. But before we turn off the lights on 2015, we wanted to recap the best blog posts of the year. Here are the top Blue Water Credit bog posts of 2015 as chosen by you. Thanks again for clicking, reading, sharing, and being a part of the Blue Water Credit family. We look ...

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Digging Deeper Into The Issue of Personal Debt

A new study digs deeper into the issues, problems, and root causes, of our personal debt.

How much do we owe, to whom, and why? Those are the questions a recent comprehensive financial survey by NerdWallet.com set out to answer, with some alarming results. NerdWallet, a financial website that relies heavily on data, analyzed the most recent (Q3 2015) statistics from the New York Federal Reserve, the U.S. Census Bureau, and others in the industry, as well as using a Harris ...

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The latest Experian hack jeopardizes 15 million T-Mobile customers.

Up until now, hackers and cyber criminals compromised big corporations and stole their consumer databases, and then credit monitoring bureaus, like Experian, were counted on the clean up the ensuing mess to thwart identity theft and justify credit scoring. However, last week Thursday, the paradigm was turned upside down in an event that shocked the industry. Hacker actually tapped into Experian’s data, and once the fox was inside the hen house stole the sensitive financial information from 15 million people, ...

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