August 27, 2014
Maxing Out Card Might be Worth Temporary Credit Score DingNews from Fox Business:
Dear Speaking of Credit,
I had just signed up and been approved for a credit card with a $ 300 limit. My credit score is in the mid 500s. The ONLY reason I applied for the card is so I can purchase a laptop for school (nothing fancy, I was thinking one that was around $ [...] Continue Reading…
Medical Debts Will Soon Weigh Less On Your Credit Score, But They’re Still A …News from Forbes:
Seeing a doctor should make you healthier. But what happens when the bill comes? If you are like one-third of Americans, you struggle to pay your medical bills.
The number one cause of personal bankruptcy has less to do with spendthrift habits and a great deal more to do with bad luck when it [...] Continue Reading…
August 25, 2014
Here Are Your Rights on Credit Report ErrorsNews from TheStreet.com:
NEW YORK (TheStreet) — According to a 2013 report from the Federal Trade Commission, 5% of U.S. adults experience errors on their credit reports — errors that the FTC says could “lead to them paying more for products such as auto loans and insurance.”
“These are eye-opening numbers for American consumers,” said Howard Shelanski, director of the FTC’s Bureau of Economics. [...] Continue Reading…
August 24, 2014
The Most Important Part Of Your Credit ScoreNews from Motley Fool:
Most lenders use the FICO credit scoring model when making lending decisions. Unfortunately, the exact formula the Fair Isaac Company (NYSE: FICO) uses to produce the scores is a closely guarded secret. Not only that, but the formula is constantly being updated and tweaked, and some lenders use older scoring formulas and some use the latest formulas available.
However, there [...] Continue Reading…
How To Scrub Your Credit Report Clean Of Costly ErrorsNews from Forbes:
There are all sorts of errors that can sneak onto your credit reports — an account that’s not even yours, a “late payment” that was actually made on time, a paid debt that’s still listed as in collections.
This can spell trouble. Your credit reports are used to calculate your all-important credit score, which determines your access to loans, [...] Continue Reading…
Manage your credit score to get the best possible mortgageNews from Chicago Daily Herald:
Q. Can I get a mortgage with a credit score of 450?
A. If you get one, it won’t be the mortgage you want.
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Credit scores are calculated using a variety of models that have small differences between them and generate similar, but not identical, scores. The range of scores in most models is 300 [...] Continue Reading…
August 23, 2014
5 credit score questions for every college kidNews from USA TODAY:Lindsay Konsko, NerdWallet 5:30 a.m. EDT August 23, 2014
University of Houston student Kelsey Anderson wheels her belongings into the dorm.(Photo: Brett Coomer AP)
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No rush to use new credit score formulaNews from MiamiHerald.com:By KENNETH R. HARNEY
You may have noticed the big media splash recently when Fair Isaac, developer of the iconic FICO [...] Continue Reading…
August 21, 2014
How to improve credit score where better credit is dueNews from USA TODAY:Sharon Epperson, CNBC 9:03 a.m. EDT August 10, 2014
A Visa credit card is tendered at opening of the Superdry store in New York’s Times Square.(Photo: Richard Drew AP)
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Be Debt-Free – Control Emotional Spending, Pay Off Your Credit Card Bills, and Start Saving Money with Hypnosis Edition33 Ways To [...] Continue Reading…
August 20, 2014
Information in your credit reportNews from WAVY-TV:
By Aubrey Aquino Published: August 20, 2014, 12:01 pm Updated: August 20, 2014, 12:01 pm
PORTSMOUTH, Va. (WAVY) – Information in your credit report can impact how much you pay for car insurance, homeowner’s insurance and the possibility of that promotion at work. And, you can actually save money by simply improving your credit report.
BayPort Credit Union Financial Educator and Counselor, Sylvia Watford, joined us with some [...] Continue Reading…
August 19, 2014
What Do Credit Score Ranges Mean?News from Investopedia:Calculated with a formula based on variables including payment history, credit length and amount owed, your credit score may affect the interest rate you pay to a lender and even make the difference between a loan being approved or declined. Read on to learn a few credit score basics, and what scores within a variety of ranges may mean for your borrowing [...] Continue Reading…