Louis DeNicola

In the U.S., two companies dominate the credit scoring industry. FICO® is the industry leader, but VantageScore® has been gaining market share since the three major credit reporting agencies created it in 2006. Both companies develop credit scores that lenders and creditors can use to evaluate applicants and manage customers' accounts. However, VantageScore and the FICO® scoring models use slightly different criteria to determine your scores.

Whether you’re temporarily moving to the U.S. for school or work, or making a long-term transition, you may be looking to open a new credit card. However, even for citizens and permanent residents, it can be difficult to get a credit card if you don’t already have a credit history in the United States.

The Chase Sapphire Reserve® was the first viral credit card, inspiring scores of unboxing videos and causing Chase to run out of the metal card when it launched in 2016. (Cardholders received a temporary plastic replacement.) Despite the competition upping their game in recent years, the Reserve® remains the best overall travel card.

If the names TransUnion, Equifax or Experian ring a bell, you may already know a little bit about credit bureaus. They're the large companies that collect and store information about consumers' financial lives and use this information to create credit reports.

Most consumer credit scores are based solely on the information in one of your credit reports. However, your credit reports might not include your rental payments. As a result, all your on-time rent payments might not be helping your credit scores. Fortunately, that may be changing.

Your credit utilization ratio is one of the most important factors in determining your credit score. And it’s easy to understand why. If you’re constantly maxing out your credit cards and loading up on debt, new lenders will see you as a greater risk than somebody who always leaves himself plenty of financial breathing room.

You’re headed out of town on a road trip with a group of friends. The often-asked question then comes up: Does car insurance follow the car or the driver?
One person remembers insurance sticking with the vehicle and says everyone is okay to drive. Another thinks insurance stays with the person, and only people who have auto insurance should take a turn behind the wheel. Turns out — they both might be right.

The Amazon Prime Rewards Visa Signature Card could be a great pick for frequent online shoppers. It offers 5% back on purchases at Amazon.com and Whole Foods, and you can redeem your points in a variety of ways. Plus you’ll get a gift card added to your Amazon account as soon as you’re approved. But it’s only available to Amazon Prime members, and the cost of Prime membership might not be worth it for everyone.

Credit-scoring agencies and creditors are always working to improve their scoring models. Greater access to consumer data and developments in computing power may be changing that process.

If you’ve never had a credit card before and you’ve decided that getting one is right for your situation, here are some things you need to know.

Credit cards and lines of credit are revolving credit accounts. Your account will have a credit limit — the most you can borrow at a time — that the issuer or lender will assign you based on your creditworthiness.

Your credit can impact your financial and personal life, affecting your ability to rent an apartment, purchase a car or open a credit card. Knowing your credit score and the steps you can take to improve your score could give you insight into where you stand financially and allow you to monitor your progress.

You might expect your tax situation to drastically change after you form a limited liability company (LLC). Turns out, that’s not always the case.

Building an emergency fund is a great first step in establishing financial security. Once you have enough savings to cover several months’ worth of expenses, you can rest easy knowing a temporary setback won’t push you entirely off course. Unfortunately, many households don’t have enough room in their budget to build up an emergency fund.