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Most Recent News in Credit Report News

  • FREE Checking Credit Report as 2015 Begins

    by admin
    FREE Checking Credit Report as 2015 Begins

    The last day of the year is usually the best time for people to check their credit scores. Mostly, this is a number that determines whether you will get a job and even a loan. The credit score depends on your credit history and payback patterns. Even then, according to the Consumer Report’s survey, half of the Americans hardly bother to check their credit reports to ensure that it is accurate. Some people recently applied for a mortgage and discovered … (more) January 14, 2015

  • Staples Data Breach Can Lead to Identity Theft

    by Faye Mergel
    Staples Data Breach Can Lead to Identity Theft

    The recent news on the data breach at Staples led to many concerns regarding possibilities of identity theft arising in the near future. The company confirmed that it suffered a breach in the payment system that had sensitive information about the credit and debit cards of more than 1.16 million customers. Most of these were identities of people who used their plastics at 119 locations of Staples across the U.S.A. The incidence happened about six months ago. There are instances … (more) January 8, 2015

  • Identity Theft and It’s Rise in the United States

    by Faye Mergel
    Identity Theft and It’s Rise in the United States

    Identity theft based on credit card information has actually become a thriving business in the underworld. More and more law enforcing agencies are becoming helpless in catching this type of cyber crime due to its diluteness in the market. Monica Hamilton, the marketing director at one of the biggest cyber security firms, McAfee Inc. has said that the malicious viruses that are being used to steal important credit card information is growing exponentially from about 1 million in 2007 to … (more) December 15, 2014

  • You can save even on loans by checking your credit report and credit score

    by Faye Mergel
    You can save even on loans by checking your credit report and credit score

    People don’t usually consider saving by checking their credit report or credit score. Those two are of course related to money loans, banks and money lenders will be looking at them before they grant you a new loan. Conditions for your new loan will greatly vary on what is inside your credit report or credit score, the better they look the better your loan will be, therefore removing any mistakes and improving your credit score can be a way of … (more) October 16, 2014

  • You should be checking your credit report regularly

    by Faye Mergel
    You should be checking your credit report regularly

    Believe it or not, you should be checking your credit report on your own each year, especially if you are planning to apply for a new loan. This may seem as a waste of time for some but practice has shown that there is at least one mistake in one out of twenty credit reports. Those mistakes may be trivial but they also can be crucial in form of missed payments or a debt still listed as not settled. Checking … (more) August 20, 2014

  • Gain insight in your credit report

    by Faye Mergel
    Gain insight in your credit report

    If you have ever been in situation to apply for a loan, you probably know what a credit report and credit score are. Wouldn’t it be great to know how well you’re doing over a period of time shorter than a year? Sure it would, especially if you’re preparing to apply for a new loan. If you are in this sort of situation there is a new service that can help you. When in need of credit report, people are … (more) August 14, 2014

  • Repaying loan won´t assure good credit score

    by Faye Mergel
    Repaying loan won´t assure good credit score

    Studies have revealed that repaying loans on time will not assure a good credit score. This shows that the creditors have to find different ways to fix their credit score.  In fact, all the ways that exist to improve a credit score are the most prone to failure. Therefore, financial experts warn people to be careful with any advice that promises to quickly improve their credit score. According to them, the best advice to rebuilding your credit is to manage … (more) June 23, 2014

  • U.S. Banks to Provide Credit Scores to Consumers

    by Faye Mergel
    U.S. Banks to Provide Credit Scores to Consumers

    Keeping a thorough knowledge of one’s credit history helps in a lot of matter. However very less no. of people take actual interests in it. USA urges its banks to provide the consumers with their credit histories. Top Financial Consumer Protection Regulator asks for free access to credit scores by the people to have more transparency regarding their financial standings at a certain point. This step has shaken the entire credit reporting industry as such demands were never made before. … (more) March 11, 2014

  • Improve Your Credit Rating Without Using Credit Card

    by Faye Mergel
    Improve Your Credit Rating Without Using Credit Card

    Unless you are extremely fortunate and have tons of cash – you will need a credit one time or another. Taking a loan can sometimes be more practical and profitable even though you have your own money and whenever you are seeking a credit – it will be your credit scores that will be checked by most of lenders. People with a limited or no credit history at all are required to build up their credit rating and boost their … (more) February 13, 2014

  • Rights For Workers Group All Set To Oppose Pre-Employment Credit Checks

    by Faye Mergel
    Rights For Workers Group All Set To Oppose Pre-Employment Credit Checks

    Advocacy Organizations dealing with the rights of workers consider credit checks on prospective employees a breach of basic human rights and as such are considering a move to have it outlawed in the coming times. Many cases are present where qualified people applying for jobs had to submit to credit checks in order to be eligible. While their number is still low, the advocacy groups fear that this trend may increase in the coming times if something doesn’t happen today … (more) January 12, 2014

  • Know about Determination of Credit Limit

    by Faye Mergel
    Know about Determination of Credit Limit

    What’s credit limit? It is the amounts available for charging on credit card. The lender sets dollar amounts available to the customer related to a new credit line. So which are the factors that lenders consider to set the credit limit of their customers? Two prime factors help in the setting of individual credit limits and this includes the INCOME LEVEL of the customer and CREDIT SCORE. The personal income of an individual is one of the main factors that … (more) December 11, 2013

  • What to Learn From the Latest Credit Consumer Report

    by Faye Mergel
    What to Learn From the Latest Credit Consumer Report

    The recent government shutdowns left numerous questions unanswered to the public. This includes queries related to the retail sales, labor statistics, trade balance, business inventories, and health updates. Among all this list of big NOs, the credit consumer reports for the month of August from Federal Reserve surely give something to munch on for the time being. According to the report, consumer borrowing increased to $13.6 billion in August with total $3 trillion, which is a record by any standards. … (more) November 10, 2013

  • Make the Most of Balance Transfer Using Your Credit Cards

    by Faye Mergel
    Make the Most of Balance Transfer Using Your Credit Cards

    In order to make the most of balance transfer using credit cards it is necessary to do it right from its first stage to last. Here is what everybody should know. Ensure excellent credit Credit card users should emphasis on timely payments, leading to higher credit ratings. This in turn opens up options during balance transfer, which are not available otherwise. One can easily shift to their existing card containing lower rates of interest than the one, which they are … (more) July 11, 2013

  • What Does a Consumer’s Credit Report Reveals?

    by Faye Mergel
    What Does a Consumer’s Credit Report Reveals?

    The credit score, also known as a FICO score, is used to determine the likelihood of a consumer to pay the bills or liabilities. The score ranges from a low of 300 points (highest risk) to the highest of 850 points (lowest risk) and is used to determine on more than 75% of all credit applications. To determine a FICO score, five critical factors are taken into consideration such as current level of indebtedness, previous credit performance, types of credit … (more) May 14, 2013

  • Latest Version of Credit Scoring Model Launched

    by Faye Mergel
    Latest Version of Credit Scoring Model Launched

    The VantageScore model comes with amazing features, among which the most noteworthy one is that collection accounts that have been paid off or settled will be not be reflected in the score. Many credit consumers are unaware of the fact that paying off or settling a collection account cannot necessarily improve the score. According to other prevalent scoring models in the market, collection accounts are treated as a predictive factor of a person’s likelihood to pay off the debts in … (more) March 17, 2013