The information in your credit report can affect many areas of your life, so it's important to keep track of what's in it. If you find information that is incorrect for any reason, it's your job to dispute that information in order to have it removed from the report. Only you are looking out for your own credit rating, so it's to your advantage to pay attention to your report.
There are actually three credit reports: from Experian, Equifax, and Trans Union. Monitoring all three of these credit reports is essential because the information can differ from report to report.
Here... Credit Score
How to Dispute Your Credit Report Information
Monday, May 23rd, 2011
The information in your credit report can affect many areas of your life, so it's important to keep track of what's in it. If you find information that is incorrect for any reason, it's your job to dispute that information in order to have it removed from the report. Only you are looking out for your own credit rating, so it's to your advantage to pay attention to your report.
There are actually three credit reports: from Experian, Equifax, and Trans Union. Monitoring all three of these credit reports is essential because the information can differ from report to report.
Here... How Recent Credit Scoring Revisions Affect You
Wednesday, February 2nd, 2011
The lending industry looks to the Fair Isaac credit scoring system to determine the strength or weakness of potential borrowers. The system periodically undergoes some changes to deal with the evolving economic system.
Fair Isaac & Company introduced FICO 8 with the hope that it will help lenders better evaluate the risks of a potential borrower. The recent escalation of foreclosures in the real estate market has required the FICO to be adjusted to better determine the likelihood of default.
Fair Isaac & Company constantly adjusts the formula for determining credit scores. The changes in the FICO 8 system reflect the... The Unexpected Effect of Credit Reports
Sunday, January 9th, 2011
Consumers know that the credit score rating that follows them around affects the types of loans available as well as the loan amounts. The musical commercials that tout the importance of getting free credit reports make it clear.
Credit reports do more than allow lenders to evaluate the fiscal responsibility of potential borrowers. It gives many companies and organizations a look into the reliability of a person to pay. A credit history also reveals the financial habits of individuals.
Credit reports can do more than cost consumers a loan that is needed. A credit score can also cause potential employers... How To Keep Your Credit Score Healthy
Monday, June 28th, 2010
In these challenging economic times having a healthy credit score is a necessary asset. If your credit score is not healthy that fact can affect your ability to get a mortgage, rent an apartment and even get a job. Lending institutions, employers and landlords are just some of the people and organizations that can request access to your credit score and will use that information in making their decisions about you.
Essentially, your credit score gives an indication of your ability to generate income and manage bills. Equifax, TransUnion and Experian are the three reporting agencies in the U.S.... Correcting Credit Report Errors
Thursday, March 18th, 2010
Correcting credit report errors can be time-consuming and require patience, persistence and good organization skills on your part. However, it’s worth it. A poor credit score or incorrect information can have an effect on the interest rates you’re charged, whether you get a job and whether you qualify for a loan.
So you’re checking your credit report; that’s great. It’s the best way to prevent identity fraud and to make sure the report that potential creditors are seeing represents you correctly. It’s also a great way to get a hold of your finances if you’ve been operating in the dark... Your FICO Score
Wednesday, March 10th, 2010
Credit scores affect whether you can get credit and what you pay for credit cards, auto loans, mortgages and other kinds of credit. For most kinds of credit scores, higher scores mean you are more likely to be approved and pay a lower interest rate on new credit. Here is some advice about the impact on your FICO score of late payments or over-extending yourself.
We all know that making late payments and maxing out our credit lines hurt credit scores, but how much? Recently the folks at FICO, whose scores are used by virtually all lenders, have revealed the... What’s in a Credit Report
Monday, April 20th, 2009
If you've ever applied for a loan or credit card, a credit check has been an integral part of the approval process for the lender. Your credit report is used to determine whether or not they are willing to do business with you. This is why many consumers cringe when they hear the words "credit report."
A credit report can help or hurt you, depending on how well you've managed credit in the past. If you've had little or no credit, lenders won't have much to go on, so you may not be approved. If you've gotten behind on payments or... Tips to Help Your Credit Score
Tuesday, March 3rd, 2009
Here are some basic tips to help you improve your credit score:
1) ALWAYS pay on time - paying early is even better, although it doesn't affect your credit score.
2) Shop for loans (mortgages, car loans, and other loans of that nature) during a specific period of time - like a 30 day period. These will show up as one inquiry if done in this way.
3) Check your credit history. See my article on Your Credit Score to learn how to get a free credit report. This helps you keep an eye on the activity and... Your Credit Score
Tuesday, March 3rd, 2009
If you have ever tried to borrow money, apply for a mortgage, get a credit card, or buy something on credit, then someone has probably pulled your credit score. Your credit score (at its most basic) is the odds which financial institutions puts on your ability to pay back money they lend to you. The higher the score, the more likely you are to pay. These numbers come from information found in your credit report.
Your credit report summarizes all of your financial history for the last seven years. The exceptions to the seven year rule includes... Understand Your Credit History
Monday, February 16th, 2009
When you are looking to borrow money you may walk into a loan office and not be aware of the daunting process that follows. Credit history, credit scores, APR, appraisal, closing costs and all the other terms that will come at you in a stack of forms are just words. Read on to learn more about what your credit history comprises.
Your credit history is a record of all your financial activities. It includes all the loans you have ever taken out, what the payment was, and how you paid (on time or late). All your other credit... 
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