Your Credit Score Questions Answered

Credit Questions

The holiday season is in full swing. You may or may not have shopped the Black Friday, Shop Small Saturday or Cyber Monday deals…phew that’s a lot in less than a week, however may be using your credit card at some point to make purchases. How does using our credit cards impact our credit scores based on balance, paid in full each month and what cards give us the most rewards for our spending habits? See some of the most frequently asked questions from Experian. Click here for more questions answered.

Q: Does Paying Credit Cards in Full Each Month Hurt Credit Scores?

A: In a nutshell, no. You don’t need to pay off a monthly credit card balance to maintain a good credit history. Paying the card off in full each month curbs interest and debt accumulation. This is a good thing to maintaining financial credit risk in the eyes of lenders.

6 Rewards Cards With Huge Sign Up Bonuses For Your Holiday Spending

Q: Do Most Employers Check Your Credit Scores?

A: While many employers pull your credit report, it’s rare they receive your credit score. They must obtain your permission to do this. It is not the only item they take into account when hiring. Education, experience and job history are major factors.

Credit Scores

How To Remove a Bankruptcy From a Credit Report

Depending on what chapter you filed, the Bankruptcy will fall off automatically in 7 or 10 years. If you filed Chapter 7 with some partial repayment towards the debt it’s 7 years. With a Chapter 13, no debt repaid takes 10 years to fall off the credit report. Maintaining consistent and timely payments to rebuild your credit after the bankruptcy is important to lenders. Most require a consistent and solid payment history of 12 months prior to lending at competitive rates. 2-3 years is the average time frame a mortgage lender will consider lending on a home loan after a bankruptcy.


  • Obtain a secured credit card, use it and make payments or pay-off every month.

  • Obtain a car or installment loan and make the payments on time.

  • Continue to save money in your checking, savings and retirement and investment accounts.

  • Create a financial plan to build your credit back up responsibly.

  • Speak with a mortgage consultant on lender guidelines to obtain a home loan after bankruptcy.

Continue to monitor and check your credit report annually for free or sign up for monthly credit scores and alerts through any of the major credit bureaus: Experian, Equifax, and TransUnion.