As rates on 30-year fixed mortgages hover around 3.5 percent and home prices in many parts of the country are starting to dramatically rise, it may finally be time to take the plunge and purchase the...
Weekly Credit Scores & Credit Reports Tips
Weekly Credit Scores & Credit Reports Tips
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House Hunting? Don't Forget About Your CU Ratio
Jul 25, 2016
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Will Student Loan Rehabilitation Fix My Credit?
Jul 06, 2016Student loan rehabilitation is a process that allows those who have defaulted on federal student loans to make on-time payments for a set period of time in order to rehabilitate their loans and...
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Closed by Consumer vs. Closed by Creditor
Jun 30, 2016A closed credit card account will show up on your credit report as either "Closed by Consumer" or "Closed by Creditor". The words may not be exactly the same, but a close...
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Will Shopping the Market Hurt My FICO Scores?
Jun 01, 2016Are you ready to shop for the best deals on a home or auto loan? While multiple inquiries at one time for your credit report information can theoretically hurt your credit scores, the fact is they...
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Leaving Monthly Balances Won't Boost Credit Scores
Mar 15, 2016You've probably had friends tell you how they established their credit history faster by leaving monthly balances on credit cards instead of paying balances in full. I hope you didn't fall...
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Don't Sweat the Soft Inquiries
Mar 14, 2016A soft inquiry is recorded on your credit report when an existing creditor reviews your file, a prospective creditor pulls your report for marketing purposes, or you order your own credit report for...
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Will too much plastic hurt my credit score?
Jan 18, 2016In order to have a great credit score, it's important to have some credit cards in your wallet and a lot of available credit to use. So, will having too much plastic in your pocket hurt...
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How do I get my free credit report?
Aug 06, 2013Many consumers aren't aware that, by law, Americans are entitled to one free credit report per year. And for those that are aware of this important fact of finance, fewer still know where they...
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Beware of Double Negatives on Your Credit Report
Sep 25, 2012The only thing that's worse than a negative account on your credit reports is a negative account that shows up twice. Unfortunately, double entries can happen quite easily in the credit reporting...
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Poor Credit Scores Influence More Than Lenders
Sep 13, 2012People with good credit are finding it difficult to get many types of loans these days, especially mortgages. For those with poor or damaged credit, the task is even more daunting. But what about...
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Employer Credit Checks Don't Hurt Credit Scores
Aug 01, 2012It's no secret that some employers will conduct credit checks as part of their hiring process. Whether or not you agree with it, it happens all the time. However, many people seem to believe that...
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Experian Only Includes Positive AU Accounts
Jul 23, 2012Adding a child or spouse as an authorized user to one of your credit cards, also known as piggybacking, can help them build credit. Of course, that's as long as you continue to maintain a low...
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Will Breaking a Lease Hurt My Credit?
Sep 14, 2011Breaking your lease may seem like the easiest way out of an apartment you can no longer afford, but it's important to remember that it could do some major damage to your credit scores too. Breaking...
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FTC and Fed Broaden Free Credit Score Rules
Jul 10, 2011Consumers are now closer than ever to having the right to a free credit score. In fact, there's a good chance you'll receive free copies of your scores the next time you apply for any type of credit...
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Using Debit Cards for Car Rentals Hurts Credit Scores
Jun 08, 2011It's a little known fact that most car rental companies have a clause in their agreement that says they have the right to pull your credit reports if you use a debit card to rent a vehicle. What...
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Rent Payments Now Included on Experian Credit Reports
Feb 28, 2011Experian recently announced that it began including residential rental payment data on credit reports as of January 2011. In the past, the only way rental payment information would ever show up on...
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Missing Accounts on Credit Reports
Feb 07, 2011Did you know that your credit reports may not reflect all your credit accounts? The truth is creditors aren't required to report anything to the major credit bureaus, so many lenders simply choose...
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How Loan Modifications Affect Credit Scores
Jan 31, 2011The extent of a loan modification's effect on your credit score first depends on whether your lender reports the loan to the credit bureaus as a new loan or the same loan with changes. If it's...
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Don't Fall for the In-Store Credit Card Spiel
Dec 20, 2010A recent survey by myFICO, creator of the almighty FICO credit score, reports that 1 in 10 shoppers will sign up for an in-store credit card when offered a discount at the cash register. You know...
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3 Credit Reporting Agencies You've Never Heard Of
Nov 14, 2010Everybody 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...
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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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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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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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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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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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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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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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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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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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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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FICO Score is No Respecter of Income
Jan 24, 2010The common belief that income directly impacts the strength of one's FICO score is perhaps the longest-living credit myth on record. The truth is whether you make $25,000 or $250,000, your FICO...
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5 Ways to Protect Your Credit Score in 2010
Jan 12, 2010The financial crisis of 2007-2009 changed the world of consumer credit forever. So what will 2010 bring to the credit industry? To sum it up it one word—reform. In fact, the...
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Considering a Charge Card? Keep Your Credit Score in Mind
Jan 10, 2010Charge cards can be a great way to avoid racking up debt while still enjoying the convenience of paying with plastic. But if you're considering switching your spending from credit cards to a charge...
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How ChexSystems Works
Nov 23, 2009If there's one report in the financial world you definitely don't want your name on, it's ChexSystems. Utilized by U.S. Banks and credit unions as a way to determine if potential customers are too...
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To Co-sign or Not?
Oct 05, 2009If you have good credit, there will likely come a time in life when a close friend or relative asks you to cosign a loan. Should you say yes? The easy in answer is "no", and here's why. Since you'...
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Credit for Paying the Bills
Sep 06, 2009I find it hard to believe there are still millions of Americans that don't exist within our nation's credit-scoring system. Since credit has played an integral role in my personal financial life...
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Credit Reports May Be Accessed Without Your Permission
Aug 16, 2009It's a common myth to believe that your credit reports can only be accessed with your exclusive permission. So, you may be surprised to find out that the Fair Credit Reporting Act (FCRA) actually...
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