Everybody knows about the "Big 3"—Experian, Equifax, and TransUnion. But did you know there are 3 other companies out there keeping track of your personal information and selling it to those...
All Weekly Tips
All Weekly Tips
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3 Credit Reporting Agencies You've Never Heard Of
Nov 14, 2010
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720 FICO Score Marks New Threshold for Best Rates
Nov 07, 2010Real estate values continue to drop around the country while interest rates remain at historic lows. If you've had your eye on that perfect home for the past few years, this may seem like the...
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How to Cancel Credit Cards the Right Way
Nov 03, 2010If your goal is to improve your credit score, closing all your credit cards isn't going to help. However, there are various legitimate reasons for closing credit lines. For instance, if you...
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How to Activate a Fraud Alert
Oct 24, 2010Ever had a conversation with a shady customer service agent who demanded your FULL social security number and other personal information, which you reluctantly handed over? It can be a rather...
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Credit Card Protection Insurance: Is it Worth It?
Oct 17, 2010Credit card companies use a variety of creative names for credit protection insurance, but they all provide essentially the same service. You pay a monthly premium, and in return you get the piece...
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Beware of New Debit Card Fees
Oct 11, 2010Debit card issuers can no longer charge hefty overdraft fees unless you opt into their overdraft protection service. And much to their dismay, customers haven't been signing up in droves. So how...
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Top 10 Things You Can Do Today to Improve Your Credit
Oct 06, 2010The most difficult part about beginning a new exercise routine is getting your butt off the couch to go to the gym. Yes, those endless reruns of "America's Next Top Model" can be quite hypnotizing...
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Credit Card Debt and Community Property Laws
Oct 04, 2010Married couples, especially those that have been separated for a long time, often assume that one spouse cannot be held responsible for the other spouse's credit card debt unless they are joint...
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Understanding the Statute of Limitations on Debt
Sep 26, 2010A common misconception among consumers is that their credit card debt will simply go away once the Statute of Limitations (SOL) has expired. However, in reality, the debt goes nowhere and creditors...
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Small Collection Accounts Ignored by FICO '08
Sep 19, 2010Too many credit scores have been wrecked by something like an annoying $50 medical bill that falls through the insurance cracks and ends up on your credit report before you ever receive a bill. We...
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The Minimum Requirements for FICO Scores
Sep 13, 2010Individuals new to credit are often concerned about how long it will take to actually obtain a FICO credit score. Most think that as soon as some kind of credit is acquired, they will automatically...
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How Long Will Inquiries Stay on My Credit Report?
Sep 06, 2010A hard inquiry, which occurs when you apply for credit and your credit reports are pulled as part of the application process, will remain on your reports for two years. Your credit score may also...
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How to Begin Improving Your Bad Credit
Aug 30, 2010The first step in any credit improvement process should begin by pulling your credit reports. Why? Because it's important to understand exactly where you stand before you can improve upon anything...
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HELOCs and Your FICO Scores
Aug 23, 2010Unlike mortgages, which are installment loans, the amount of available credit on a home equity line of credit (HELOC) will increase when you pay down the balance. Sounds like a credit card, right?...
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Credit Card Late Fees Capped at Minimum Payment
Aug 16, 2010New fee restrictions included in the Credit CARD Act of 2009 are set to take effect this month. And one important change you may not have heard about yet mandates a new limit on the amount credit...
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When to Pay Extra on Your Mortgage
Aug 08, 2010Everyone's personal financial plan should include a strategy to pay down existing debt. The big question is which debt should be paid down first? In many households the single largest amount of...
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How to Deal with a Lost Credit Card
Aug 02, 2010The FCBA (Fair Credit Billing Act) limits your liability for unauthorized credit card charges to a maximum of $50. So if you just realized your credit card is missing, there's no reason to enter "...
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Beware of Overdraft Fees in Closed Accounts
Jul 25, 2010Credit card users often choose to autopay their monthly credit card bills from a checking or online savings account . While this is a great way to make sure you never miss an on-time payment, it's...
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Will Disputing an Account Hurt My Credit Score?
Jul 18, 2010Credit bureaus are large organizations that process enormous amounts of data. They will undoubtedly make mistakes. Fortunately, the FCRA (Fair Credit Reporting Act) provides you with the right to...
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How Payments Are Applied to Credit Card Balances
Jul 11, 2010You may have heard that the CARD Act of 2009 now requires credit card companies to apply payments towards balances with the highest interest rate first. While this is true to a certain degree, there...
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Payroll Withholding: Time for a Mid-Year Assessment
Jul 05, 2010We're halfway through the year, which means this is the perfect time to reassess how much you're withholding from your paycheck each month. Did you get a big tax refund last year? If so, shame on...
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Can I Be Fired for Declaring Bankruptcy?
Jun 27, 2010The short and simple answer is "no". The Federal Bankruptcy Act prohibits employers from firing employees solely because they've filed for bankruptcy, but there may be other signs leading up to...
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Identity Theft: Debit Cards vs. Credit Cards
Jun 20, 2010If you're not concerned about identity theft, you should be. More than 11 million Americans were victims of identity theft in 2009, surpassing $50 million in total losses, and these numbers show no...
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Fed Nixes Inactivity Fees
Jun 14, 2010Effective August 22, 2010, they'll be no reason to worry anymore about getting slapped with a big fee for not using your credit cards often enough. A press release, issued by the Fed on June...
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Can I Add an Account to My Credit Report?
Jun 08, 2010It can be quite frustrating for consumers to discover that a credit card, auto loan or mortgage they've been paying on time for several years doesn't even show up on their credit reports. If this...
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Too Much New Credit Bad for Scores
May 30, 2010While it's true that the FICO scoring model rewards consumers who responsibly use various types of credit, applying for too much all at once will likely have a negative effect on your credit scores...
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Credit Reports: How One Baddie Becomes Two
May 25, 2010When creditors are unable to collect a debt for an extended period of time, generally 6 months or more, they will write it off their books. To the debtor, this will show up on their credit reports...
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How Debt Validation Works
May 17, 2010Have you been contacted by a collection agency regarding an old debt you're not sure is yours? If so, you have the right to receive more detailed information before cutting a check to anyone. In...
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Paid Collections May Not Improve Credit Scores
May 10, 2010It seems logical—pay off that nagging collection on your credit report, and you should see an improvement in your credit score, right? Well, that's not exactly how it works. In fact, paying...
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Beware of Skimmers & Shoulder Surfers
May 02, 2010Identity theft and credit card fraud already account for billions in consumer fraud losses every year. Unfortunately, these crimes shows no sign of slowing down as thieves grow sneakier and more...
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Paying Off Car Loan Could Hurt Your Credit Score
Apr 26, 2010It may sound counterintuitive, but paying off your car loan probably won't improve your credit score. In fact, if it's the only installment loan you have, your credit score could take quite...
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CD Laddering: How it Works
Apr 18, 2010If you're like many consumers these days, you're spending less and saving more. And while high-yield online savings accounts certainly make a great place to stash your savings, their interest rates...
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Closed Credit Cards Can Still Affect Utilization
Apr 11, 2010Credit utilization, which accounts for a large chunk of your overall FICO score, measures how much of your available revolving credit is being used each month. The higher the ratio, the more it...
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Don't Tap 401(k) to Pay Off Debt
Apr 06, 2010Are you thinking about tapping your retirement funds to get rid of lingering credit card debt? If so, don't do it, and here's why: While racking up too much debt on credit cards may be one...
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Credit Scores That Matter
Mar 30, 2010Credit scores can be confusing enough without having to worry about whether the score you just purchased is a "real" credit score. Major Credit Reporting Agencies (CRAs) unfortunately add to the...
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How to Activate a Credit Freeze
Mar 28, 2010A credit freeze prevents lenders from pulling, viewing and thus modifying your credit reports. No one, including yourself, should be able to open any type of credit in your name while a freeze is...
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Watch Your Grace Period
Mar 21, 2010Do you know how long you have to pay your monthly credit card bill before interest starts accruing? If you pay balances in full each month (as you ALWAYS should), chances are your card still...
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Credit Counseling: Will it Ruin Your Credit Score?
Mar 14, 2010It's a common belief that credit counseling can trash your credit score. In fact, some people even claim that enrollment in a credit counseling program is as bad as filing bankruptcy, which can...
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Put Your Tax Refund to Good Use
Mar 07, 2010If you aren't getting a tax refund this year, congrats—you successfully avoided giving the government an interest-free loan. On the other hand, if you happen to be one of the millions...
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Paid Collections: Will They Go Away?
Mar 01, 2010Many consumers are surprised when they find paid collection accounts still sitting on their credit reports. Unfortunately, it's a common misconception that paying off an account in collections will...
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