Protecting Yourself From Identity Theft
Identity theft is becoming extremely important, as my parents in their 50’s recently found out. After looking at credit card statements, they realized their identities has been compromised when a lot of adult website charges were showing up on their bill. Some how the carder (someone who uses stolen credit card numbers) got [...]
Credit Score Spam Emails
There seems to have been a recent rash of credit score spammings, or I was just recently added to their spam list. I have been getting a lot of emails with subject lines that say “Your Credit Score May Have Changed“. The email tricks recipients into thinking their credit scores have changed and [...]
How To Get A Mortgage With A Bad Credit Score
Having bad credit can definitely be a problem, especially when you’re trying to buy a house or a condo. Under current market conditions, it will become a little harder to get many offers on mortgages - especially since some of the sub-prime lenders have taken a serious hit. You should know, though, that there still [...]
Is Worrying About Credit Reports Only for the Unwealthy
Many people think that it is only individuals without money that should be worrying about their credit scores and reports. Late night marketing blitz’s on TV and internet ads don’t help this stigma since they actively target middle to lower class individuals. While credit scores are an important thing to worry about for [...]
Check Credit Score Free Right Now Through Bank of America
I stumbled over this the other day when checking my bank account with Bank of America. Currently, under the Customer Service tab when logged in, choose monitor credit report. You can do a 30 day free trial, assuming you cancel before the 30 days, and get your credit reports and scores from the [...]
Identity Theft and Pre-approved Credit Card Letters
If most of you reading this are like me (which is unlikely because my mom always told me I was special) you receive a lot of pre-approved credit card offers in the mail. Do you typically just throw it away? If you do, don’t. The advice I am about to give [...]
What Should Your Credit Score Be
A lot of people know their credit score, but have no idea as to what their credit score should be. Or even what is considered good. To review, credit scores can range from 300 to 850. A credit score of 850 would be considered perfect, and a score of 300 would be [...]
Credit Reports and Identity Theft
In a digital age, identity theft is a practical worry for most people. Identity theft, if left unnoticed, can have major financial ramifications on your life. In regards to your credit report/score, identity theft has a direct impact on it. If an identity is stolen and accounts are opened, it is a [...]
Factors That Lower Your Credit Score
Many people know ways to increase their credit score, but what factors actually lower your credit score?
1) Accounts that have been open less than three years. Having long term credit accounts that you consistently pay on time is an important indicator of stability. As your credit history ages, your score should increase.
2) Anytime your credit [...]
Ways to ACTUALLY Check Your Credit Score for Free
It’s ok to admit it. Most of us have been tricked by ads on the internet, radio, and tv about being able to check our credit scores/reports for free. There is an old adage that says nothing in life is free, while that is true for the most part, there are actually ways [...]
How A Spouse Affects Credit Scores
A common question for many people is if a spouse’s accounts or credit score is factored into yours. Credit bureaus don’t maintain joint files or credit scores for spouses. However, accounts in which a person and their spouse are listed as an authorized individuals will be listed on credit reports. Also, credit [...]
Easy Trick to Getting a Better Mortgage
Buying a home is a big deal and everyone deserves to get the best interest rate possible. One of a few factors in determining what your interest rate will be, is your credit score. The best thing anyone can do for themselves is to have their credit score as high as possible, the [...]
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, [...]