The Scoop on Credit Repair Companies
There are a lot of companies that claim to be able to fix or repair your credit. What do they actually do? Can you do it yourself? What they do is actually pretty simple and it pays to be informed.
Credit repair/fix companies can only legally dispute inaccurate information on a credit report, [...]
Calculating Your Credit Score
Credit Scores are calculated using information from your credit report on the day in which it is calculated. Credit Scores are based on several factors such as:
1) Payment history - Information regarding how you paid your credit accounts in the past. This information includes late payments and bankruptcies.
2) Credit accounts - The number of [...]
Know Your Credit Rights
In 2003 the Fair Credit Report Act (FCRA) was passed. Everyone should know their rights. Here is a link to Wikipedia page on the FCRA. Knowing your rights allows you to take action to prevent/correct mistakes pertaining to your credit history.
Common Credit Questions
Q: What is used to calculate your credit score?
A: Credit Scores are calculated based on the information that appears on an individual’s credit report the day your score is compiled. That’s why credit scores can vary , depending on when it is calculated. If you recently made a large payment to a credit card, [...]
4 Credit Score Myths
1) Checking your credit score/history will negatively affect you
This is incorrect. Personal inquiries are considered “soft inquiries”, and soft inquiries do not count against you. Soft inquiries are not part of an individual’s credit score calculation. Check your own score all you want, it will not hurt you.
2) Your score [...]