Go to Top

Blog Archives

Tag Archives: Credit Scores

Your Credit Score: Updates You Should Know

By Jason Alderman With a new version of the leading FICO credit score working its way through the lending industry, borrowers who have wrestled with medical debt and others who have only a limited credit history might find their scores have improved when they apply for future credit cards or auto loans. FICO Score 9 was rolled out last fall by the three major credit bureaus – Equifax, Experian and …Read More

5 Reasons to Check Your Credit Report Today

By Lindsay Konsko Between paying bills, monitoring investments, and watching over the monthly budget it’s normal to feel overwhelmed by money-related responsibilities. This leads many of us to push off until tomorrow certain financial tasks we should be doing today. For example, a lot of folks don’t feel any urgency to check their credit reports. But there are some situations where it just can’t wait. Here are five signs you should …Read More

Majority in Survey Ignore Credit Reports, Scores

By Cliff Goldstein If you haven’t checked your credit reports or credit scores in the past 12 months, you’re in the same boat as most people, according to the National Foundation for Credit Counseling’s 2015 Financial Literacy Survey, sponsored by NerdWallet. In the study, which included more than 2,000 U.S. adults, two-thirds of respondents said they hadn’t ordered copies of their credit reports in the past 12 months. That includes 69% of women …Read More

Dealing With Negative Credit Report Information

By Lauralynn  Schueckler Federal law specifies how long negative information may remain on your credit report. To prevent you from being penalized for past credit mistakes forever, the Fair Credit Reporting Act regulates that negative information, so it can only be reported for seven, ten, or fifteen years at the most. This includes bankruptcies, late payments, accounts that a creditor turned over to a collection agency, tax liens, and judgments …Read More

How to Improve Your Credit Score

By Mark Foster I am often asked how someone can improve his or her credit. Credit can impact many things, including: Employment, down payments, interest rates, utility deposits, and even car insurance. Improving your credit can help you get that job or house you wanted, not to mention possibly saving you thousands of dollars in interest on loans. There’s a lot of information floating around out there and not all …Read More

Why Did I Receive a 1099-C From My Credit Card Issuer?

By John Ulzheimer By now you’ve probably started receiving your tax-related forms. Most of you will receive form W2, which is sent by your employer and memorializes your income earned for tax year 2014. Some of you, like me, will receive one (or several) 1099s. A 1099 is sent to people who do contract work as a non-employee. And some of you will unfortunately receive form 1099-C.   What is …Read More

What Happens If I’m Denied Credit?

By John Ulzheimer “John, I applied for a credit card about 3 weeks ago. Today I received a letter from the credit card company telling me that my request for credit has been denied. The letter also included my credit score, which was a 598. Why did I receive this letter?” What you received was a letter formally referred to as a notice of adverse action. In plain English, that’s a …Read More

Consumer Reporting Agencies Follow Your Moves

By Jason Alderman By now, you’ve probably heard about the Big Three credit bureaus (Equifax, Experian and TransUnion), which monitor your financial history and issue credit reports and credit scores to potential lenders. But did you know that there are dozens of other specialty consumer reporting agencies that track your history for activities that may not appear on your regular credit reports – things like bounced checks, late utility payments, …Read More

One in Five Could Not Maintain Lifestyle Without Credit Cards

By Gail Cunningham The ability to put away the plastic and successfully live on a cash basis is an indicator of financial stability, as it proves a person’s lifestyle is in line with their income. However, the recent NFCC online poll revealed that one in five people could not make ends meet without the use of credit. Another twenty-two percent of respondents said that if asked to live on a …Read More

What is a Credit Score Hard Pull?

By Melinda Opperman When your credit report is pulled for any reason, it is counted as an “inquiry”. There are two kinds of inquiries; hard and soft. A hard inquiry is when your credit report is pulled by a financial institution for credit purposes. That is, if someone is considering whether or not to give you a loan, that’s a hard inquiry. Hard inquiries can include mortgage, auto, and credit card applications. …Read More