by: Michael Anderson What is a credit score? A credit score is a number lenders use to help them decide: “If I give this person a loan or credit card, how likely is it that I will get paid back on time?” A score is a snapshot of your credit risk picture at a particular [...]
by: Michael Anderson Creditor vs. Consumer Have you ever wondered how the practice of using credit reports really began? What kind of situation could have necessitated their development? The history of credit reports didn’t start, of course, until long after the establishment of the credit system itself. Here, we’ll examine why and how credit reports [...]
by: Michael Anderson Federal legislation giving consumers the right to a free credit report took effect in December, with a nationwide roll-out that began with Western states. The law requires the three national credit-tracking companies Experian, TransUnion, and Equifax to provide consumers with free credit reports once a year. Consumer advocates say that the importance [...]
by: Michael Anderson Get Your's It's A Good Thing! However, unlike your personal resume, you are not the one who puts it all together. The information that makes up your credit report comes from the banks and other financial institutions. They provide this information to the credit bureaus who maintain all the credit reports. Now [...]
by: Dennis Cary Paying your bills a few weeks late and maxing out your credit cards may not seem like a big deal to you now, but when you decide to get serious about your financial situation, you'll realize you've made quite a mess for yourself. It can be easy to push thoughts of repercussion [...]
by: John Matkowsky Bad Credit – What is it and how to Repair it. What determines bad credit? Your credit score! Credit scoring is a system creditors use to help determine whether to give you credit. Information about your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, [...]
by: Thomas Erikson Don't underestimate the power of your credit report. The information contained on it can mean the difference between getting a loan or being turned down, a low interest rate or a high interest rate, or whether you'll be able to get a new charge card. Of course it contains the basic information [...]
by: David Cooke We all need credit. If you want to rent a car or even open an account at the local video store. They will ask you for a credit card. Getting a card is easy for most people. Invitations arrive in the mail asking you to fill out a short application to get [...]
by: Johnny Saing Credit cards are part of life nowadays, and you will always need one to make a hotel or plane reservation, or to rent a car or rent a video, even if you plan to pay cash. Many stores require a credit card to accept your check; however, people who have never had [...]
by: Bill Haddon There are few things that can affect your financial future more than a bad credit rating. It could prevent you from qualifying for a home, from buying a new car or force you to pay outrageous interest rates. If you are just breaking into the world of financial freedom or have a [...]
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