How Credit Scores Are Calculated
Having a high credit score can significantly make a difference on how lenders approve your credit applications and how lenders give you their rates. What is the best way to improve your credit score?
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Why Is My Lenders Credit Score Different Than The One I Got Online?
The Costa Mesa credit bureau Experian was recently asked to pay a $3 million fine to settle claims that the firm sold credit scores that were completely useless to consumers. The Consumer Financial Protection Bureau said that Experian offered its own score to consumers and mislead them by implying that these scores were “the same type of…
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Got Collection Accounts On Your Credit Report? Negotiate Your Way To A Better Credit
How an item is classified has a big effect on your credit score. Many people feel that they have no choice in how negative items like a collection account appear on their credit reports. What they don’t know is that you can always negotiate how an item is classified on your credit report! The notations that appear…
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What To Do If Your Credit Dispute Is Rejected Or Flagged As Frivolous
Credit report errors happen all the time, in fact, errors are so common that over two-thirds of consumers found mistakes on their reports even after an investigation. This means that at some point many of us will find ourselves having to file a credit dispute to have them rectified. However, it may come as a…
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Hard Inquiries vs Soft Inquiries – How They Affect Your Credit
There are two main types of inquiries, which can appear on your credit report. These two types are known as hard inquiries and soft inquiries. Even though both these types of inquiries are in a position to enable a third party to take a look at your credit report, the hard inquiries are the only…
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How to Remove Fraudulent Accounts from Your Credit Report
Identity thieves may open new credit card accounts in your name if they have access to your personal information like your Social Security number, name and address. We all know it can be extremely frightening and frustrating when criminals commit this kind of identity theft, especially when they open up numerous credit card accounts and…
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“Closed By Grantor” – What Is This And Will It Affect Your Credit Score?
If you want to know anything about your credit card accounts, just check your credit reports. The credit report carries a wealth of information, which makes it easy to verify anything you want to know about your account details. Sometimes, when checking your credit report, you might notice comments such as “closed by grantor.” Alternatively,…
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How Your VantageScore Is Calculated
Credit scoring models have existed since the 1970s. Credit scores are beneficial to lending institutions, insurers, employers, landlords and government agencies. Fair Isaac & Co developed the first credit scoring model, FICO. It was not until 2006 when Experian, TransUnion, and Equifax collaborated to establish a new type of scoring model, the VantageScore. The…
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How To Remove Unauthorized Credit Inquiries From Your Credit Reports
Credit inquiries occur when companies review your credit reports to establish whether to give you credit. Credit inquiries do not have a huge impact on your credit score. Compared to issues like late payments, foreclosure, or account collections, the effect is less. Still, they do count. Typically, there are hard and soft inquiries. A hard…
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How To Write An Effective Dispute Letter That Get Results
Getting the errors off your credit reports can be a very difficult process and it can be hugely frustrating to live with some of the blatant inaccuracies. But no matter what you do, don’t give up your fight to get the facts corrected in your favor. Be patient and write effective dispute letters that get…
