Tips, facts about credit report, credit score and identity theft

Credit scores explained

Tue, 07 Jul 2009 20:41:47 PDT

Any time that you apply for any type of credit account, creditors want to know one thing and one thing only: When their company lends you money, will they be able to get it back from you in a timely manner and without any trouble?

Your credit, your life: Credit reporting errors happen

Wed, 24 Jun 2009 20:57:33 PDT

There are errors that can impact on your credit score without your having done anything at all and completely without your knowledge unless you check your credit report regularly.

Protecting your finances from the dreaded Universal Default Clause

Tue, 23 Jun 2009 19:09:25 PDT

The terms spelled out in the Universal Default Clause mean that if a consumer is even one day late on any payment to any creditor that consumer could see his or her interest rates spike to more than 29% on many additional bills.

Checking your personal credit report does NOT lower your credit score

Mon, 22 Jun 2009 18:50:18 PDT

A review of your personal credit report will NOT lower your credit score. It is considered a "soft pull" or "soft inquiry" of your credit history and might even appear on your credit report. Similarly, pre-approved credit applications or information verification checks are considered "soft pulls"

How errors appear on credit reports and how to fix them

Sat, 20 Jun 2009 13:22:18 PDT

Credit report errors are more common than many consumers realize. It is extremely important to monitor your credit reports and repair any mistakes as quickly as possible. Not doing so could result in a bad credit history and a loss of creditworthiness.

The next generation of credit scoring - more profits, less losses.

Sat, 13 Jun 2009 19:03:30 PDT

Although most people would consider themselves to be creditworthy individuals deserving of financial assistance, consumers have a limited opportunity to represent themselves to financial lenders, primarily in the form of a credit score.

Protect yourself from credit report errors

Sat, 06 Jun 2009 16:01:51 PDT

It is estimated that around 80 percent of credit reports contain some type of inaccuracy, ranging from the seemingly innocent to the extreme. While it is unlikely that you will be mistaken for someone who is deceased, any error on your credit report can be damaging and potentially deny you access to credit.

What is Experian Advanced Risk Score 2.0

Thu, 04 Jun 2009 17:57:57 PDT

The world of credit reporting is a murky and confusing place. While most consumers are familiar with FICO scoring as a traditional credit rating method, the Fair Isaac Company has developed a new method called "NextGen FICO® 2.0"

You know why they call it credit, right?

Wed, 03 Jun 2009 19:56:13 PDT

The process of loaning someone money is referred to as credit. This is a term used to indicate the borrowing or loaning of money to those consumers who cannot afford to make the purchase with cash.

A Primer on Credit Scores (or why they invented credit score)

Sat, 30 May 2009 08:18:29 PDT

Your credit rating or credit score is an important issue in any credit dealing. Your credit report is a basic requirement in the processing of your application for a loan, credit card, car purchase, insurance, etc. It is a major factor whether you get an approval or not.

How to reduce interest or operation: Bank, Capitulate!

Mon, 25 May 2009 16:35:58 PDT

If you find yourself buried in debt it may be time to employ operation – "Bank, Capitulate". Lately banks have been getting all the bailouts, and it is time for ordinary consumers to work on bailouts of their own. By transferring their high APR balances to low APR credit cards consumers can save themselves thousands of dollars in interest charge and get out of debt faster than they ever thought

Credit Card Holders Beware – Use it or Lose it

Fri, 22 May 2009 19:52:03 PDT

Credit cards can be a great tool for those who pay off their balances in full each month. In many cases those cards sit in a drawer gathering dust after the initial freebies have been accumulated and used, and the credit lines they represent have gone largely untapped.

Prioritize your bills

Wed, 20 May 2009 19:30:05 PDT

If you prioritize your bills and pay them in the order of importance, you should experience fewer difficulties in the financial aspect of your life. Learn what bills should be highest on your list and simplify your debt.

How to dispute the errors on your credit report

Fri, 15 May 2009 17:00:51 PDT

Did you know that something as simple as a mistake or a misspelling of your name on a credit application could cause big problems with your credit report?

5 Tips on rebuilding credit

Mon, 11 May 2009 18:35:59 PDT

As the country sinks deeper into recession, the number of people suffering from bad credit is bound to increase but there are steps you can take to rebuild credit.

The 3-step plan to paying off debt (Or what to do to be debt-free)

Sun, 10 May 2009 18:23:13 PDT

In the most extreme cases, a person would have no other choice but to file for bankruptcy. However, this is definitely not the best move if you want to maintain good credit standing. Instead, you need to have a well thought out plan of how to pay off all your debt and then follow your plan accordingly.

Tips on how to improve your FICO credit score

Sat, 09 May 2009 18:09:03 PDT

There is no quick fix for improving your FICO Credit Score, but following a few tips consistently can help along the way. It does take time and effort to repair a credit score even though it only takes a few bad moves to destroy your credit.

When and why you should check your credit report

Thu, 30 Apr 2009 19:48:01 PDT

The importance of checking your credit report to make sure there are not any erroneous entries in it. Doing so will help you when you need to apply for a loan, know what you need to do to improve your credit score before you apply one, and even help ensure your identity has not been stolen.

96% of consumers do not know credit score model that used by lenders

Mon, 27 Apr 2009 19:40:12 PDT

While keeping an eye on your credit report and checking your credit score regularly is a good idea, your credit score alone may not be telling you all you need to know. In fact some 96% of consumers have no way of knowing which credit score model potential lenders will be using, and that can make it difficult to determine the true value of checking their credit scores.

How to use secured credit cards to establish a credit rating

Thu, 23 Apr 2009 21:08:07 PDT

Credit rating is important these days. A very good credit score can boost your buying power tremendously; a poor rating can make things more difficult. If you have bad credit, you can hardly hold your hopes up that a bank would approve your loan application.

10 Steps to reduce personal debt

Sun, 19 Apr 2009 17:54:04 PDT

Could you be debt-free this year? When millions of Americans are at least $9,000 in debt, achieving financial freedom and a rich, rewarding life may seem like a pipe dream. But debt does not have to be debilitating. Using practical yet deliberate steps, you can begin to pay off what you owe, reduce your debt and begin living a rich, debt-free life.

Understanding the importance of having a good credit score

Fri, 17 Apr 2009 20:24:14 PDT

When you are trying to take out a loan, the only thing that hurts your prospects and costs for a loan more than having a low credit score is having no credit history at all. Ideally, of course, you want to have a high credit score. This will not only make it easy to get a loan, but will allow you to get a loan at the best possible terms.

How to avoid bankruptcy and have good credit score

Tue, 14 Apr 2009 21:02:00 PDT

If you file a bankruptcy, you will surely find it difficult to purchase high-ticket items on credit or take out new loans. This is because a bankruptcy will reflect in your credit history for at least 7 years. Still, there are a couple of things you can do to prevent bankruptcy and re-gain the trust of creditors.

How to buy a paper shredder that will help to prevent identity theft

Mon, 13 Apr 2009 18:01:18 PDT

Of all the things you can do to keep your personal information safe from identity thieves, using a paper shredder is one of the easiest – and most important. Thieves cannot use what they cannot read. Not many crooks will take the time to painstakingly piece together a pile of shredded paper.

Pay off your credit card debt early with a HELOC (Home Equity Lines of Credit)

Sun, 12 Apr 2009 20:08:13 PDT

Are you looking to remodel your kitchen? Or maybe you want to find a quick and easy way to use existing home equity to pay off your credit card bills? Whatever prudent reason you have for needing cash, home equity loans may be the option for you.

Three ways to reduce your credit card debt

Wed, 08 Apr 2009 15:47:56 PDT

Credit cards usually charge a higher rate of interest than other loans. In the current economic times, paying high rates of interest just does not make fiscal sense.

Debt pressing in a sinking economy

Tue, 07 Apr 2009 20:06:00 PDT

Were you shocked to find out that the US and global economies are as reliant on debt to keep them afloat as you have been to live from month to month?

Is a mortgage foreclosure loan right for you?

Mon, 06 Apr 2009 18:11:14 PDT

With legislation being enacted to deal more directly with the home mortgage foreclosure crisis, this type of specialized financing will become more widely available in the future.

5 Steps to stick to your budget

Sun, 05 Apr 2009 18:57:10 PDT

Whether you are saving for retirement, trying to break the credit card habit, or just trying to make ends meet, creating a budget is essential to financial security.

Five truths about credit cards

Thu, 02 Apr 2009 20:37:37 PDT

Different company names, interest rates, and reward points programs are mute. In the end, every major credit card shares the same genetic makeup. Customers trade paid interest for increased convenience and to lose ATM fees. Rarely is this trade balance even, and credit card companies therefore make a profit.

You should consider renting if...

Sun, 29 Mar 2009 21:16:43 PDT

Most real estate experts advise buying a home instead of renting one. This is very wise advice. Renting a home is a bit like staying in a motel.

Utility and cell phone bills do not improve your credit score.

Fri, 27 Mar 2009 18:48:29 PDT

Did you know that items like utility bills, cell phone bills and checking accounts are generally not reported to the credit bureaus until they have become delinquent? Many people are under the false impression that paying their monthly utility bills and cell phone bills on time every month will result in a higher credit score, but this is not the case.

Payment history is the largest factor in Credit Score

Tue, 24 Mar 2009 20:16:20 PDT

While our credit score can often elude us, it is a crucial component to our financial life. A personal credit score is a reflection of a consumer ability to repay debts and is what lenders use when creating a lending decision.

Below are 7 Tips that will help you survive overwhelming debts

Mon, 23 Mar 2009 20:21:45 PDT

Overwhelming debts cause stress, dissatisfaction, and worry. By adapting the effective money management tips, you can stop the worries and start a new life.

Choose your credit repair counseling service with care

Fri, 20 Mar 2009 18:42:51 PDT

When you find yourself in financial difficulty, and need to turn to a third party to help you get back on track, make sure that you choose a credit repair service that comes with positive recommendations.

How to eliminate debt and rebuild your credit

Wed, 18 Mar 2009 20:22:16 PDT

Debt is a problem for many people, and can lead to devastating consequences if ignored. The current precarious state of the economy, and the resulting lack of job security in this country, has resulted in increasing debt by large numbers of Americans.

Debt Prioritization: Too little money for too much debt

Thu, 12 Mar 2009 20:29:17 PDT

Debt Prioritization: Too Little Money for Too Much Debt, guide through the best processes to free-up credit card, mortgage and auto debts though the process of creditor negotiation and refinance options.

The Truth about Credit Rescoring

Wed, 11 Mar 2009 20:57:35 PDT

Do not hesitate to ask your mortgage broker or loan officer if he or she can try to get someone to do your credit rescoring. Most reputable companies have legitimate contacts that have more clout than a simple consumer complaint in getting inaccurate information out of your credit file.

How often do credit bureaus update my credit report?

Tue, 10 Mar 2009 17:57:10 PDT

It is up to your creditors to report any changes to the credit bureaus so they may update your report accordingly.

How your credit score affects your car insurance rates

Sat, 07 Mar 2009 18:56:56 PST

When you are looking into buying a new auto insurance policy, your credit rating will affect your car insurance rates. The insurance company will refer to your credit score when determining the premiums for your policy.

Your last opportunity to prevent foreclosure

Thu, 05 Mar 2009 20:44:50 PST

Even if you're not yet behind on your mortgage payments, if you know that you won't be able to pay them much longer, there are things you can do to prevent foreclosure.

Your options to avoid Foreclosure

Tue, 03 Mar 2009 20:27:15 PST

Some of today's homeowners are faced with the dilemma of deciding among a selection of options, none of which are very pleasant.

Don't make these 5 mistakes when you Refinance or Borrow money

Sun, 01 Mar 2009 09:39:38 PST

During a recession, many people find that they need to refinance their homes, consolidate their credit card debt or take on additional debt to tide them over rough spots. Though they may feel pressured by the economic downturn, this is no time to rus

Easy ways to repair credit in bad economy

Fri, 27 Feb 2009 20:44:10 PST

No matter what the credit repair companies tell you, it really is possible to repair your own credit relatively quickly and easily. The great news is that the simplest steps you can take will often be the most effective in raising your score without

Use of credit reports to determine promotions or terminations

Wed, 25 Feb 2009 17:34:04 PST

More companies are using credit reports to determine a potential employee's character and trustworthiness than ever before. One of the reasons is the ease of convenience for the employer.

How you can quickly repair your bad credit

Mon, 23 Feb 2009 17:36:44 PST

The lower your credit score, the higher your interest rate will be if you are able to obtain financing on any purchase. Therefore, repairing your credit will definitely save you a lot of money on future purchases.

Strategies you can use to help Improve your Credit Score

Sun, 22 Feb 2009 07:35:48 PST

It is not easy to improve one's credit score and the process usually takes a long time, but the results can be favorable.

New differences between hard and soft credit inquiries

Sat, 21 Feb 2009 17:05:11 PST

Maintaining a good credit score is a difficult task for many consumers especially as the economy continues to circle the drain. What is the difference between hard and soft credit inquiries?

Simple ways to improve credit score in 2009

Fri, 20 Feb 2009 18:56:32 PST

With today's deepening financial and housing crisis is there a more critical number than your credit score? Nearly all lenders use a formula developed by the banking consultant Fair Isaacs Corp to calculate this important number. This simple 3 digit

FICO 08 – how the newest FICO Scoring Model will affect your credit score

Wed, 18 Feb 2009 20:42:18 PST

Fair Isaac has been working on a new credit scoring model for well over a year. It was originally slated to become active in second quarter of 08 but was delayed by a lawsuit with Equifax. Differences have been settled and FICO 08 is ready to roll in