First State Bank and Trust

A credit score is a number that evaluates the creditworthiness of any customer. Generally, lenders use credit scores to evaluate the probability that an individual will repay his or her debts.  An individual’s credit score ranges from 300 to 850. It is considered an important part of your financial status. If your credit score is higher, the risk of not getting a loan is lower; if your credit score is lower, the risk of not getting a loan is higher.  As you’re reading this article, you must be aware of the importance of maintaining a good credit score. In this article, we’ll share some tips that can help you with building a good credit score.  1) Start with only one credit – Many users gather a collection of credit cards within their first year of using credit. Don't do such mistake – opening up too many credit cards too soon. The more credit in your cards means you’ll end up spending more. This will make harder for you to keep up with your balanc...

“Student loan debt in 2019 is the highest ever.” According to the latest student loan debt statistic, “The debt is highest than ever.” These statistics have become a real concern among borrowers across all demographics and age groups. As far as student loan debt is concerned, approximately 44 million borrowers collectively owe approx. $1.5 trillion in the U.S. alone. Student loan debt has become the second highest consumer debt category, first being mortgage debt. Student loan debt is much higher than both credit cards and auto loans. According to the Institute for College Access and Success , “Students who enrolled for college in 2017, on average, owe $28,650.” If you are a student loan borrower or planning to apply for a student loan, we hope these student loan debt statistics can help you make appropriate decisions regarding student loan refinance, student loan repayment, student loan consolidation, and student loan forgiveness. Student Loan Stats Overv...