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FAQs

How long does it take to get a 700 - 800 credit score?

It will take about six months of credit activity to establish enough history for a FICO credit score, which is used in 90% of lending decisions.  FICO credit scores range from 300-850, and a score of over 700 is considered a good credit score.

What are the differences between a revolving line of credit and a term loan?

A credit card revolves like a circle.  You have availability, you spend, you pay the bill and do it again every month.  With a term loan like a personal loan, car loan, mortgage loan or a business loan something of value is given upfront by the lender and borrower pays the lender back with interest over a specific term or period.

How does authorized users help build credit?

Payment history makes up 35% of your credit score. A credit building item like a strong authorized user with good credit history going back 2-5 years helps establish a consistent positive payment history.

What kind of life insurance should I get?

You have many choices in life to decide on, however this choice requires a careful choice.  Term versus universal or whole life?  Do you have a children? How old are they?  Are you near retirement?  Do you have a balance on your mortgage? Let DEF professional agents consult you?

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