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Most Recent News in Credit Report News

  • Access Credit Reports Online for Free

    by Faye Mergel
    Access Credit Reports Online for Free

    There have been innumerable cases in the past where Americans have faced problems with their credit scores. A sudden drop in their credit scores leads them into trouble and takes a long time to repair too. While many times this is due to the individuals unable to handle their finances the right way, the problem is also seen when there are errors in their credit history. To avoid situations where the credit scores suffer due to erroneous entries, it is … (more) August 11, 2010

  • Hotel Customers Warned Of Hackers

    by Faye Mergel
    Hotel Customers Warned Of Hackers

    People who travel a lot and therefore make substantial use of hotels are warned of new methods hackers and thieves have recently been employing. It has been called to the attention of some that most thieves swarm at hotels and from there pinpoint or target their next victim. A report from Trustwave, a company on data security, revealed that this year, more than 35 percent of credit card hackings happened in hotels, or implicated the hotel industry. The reason why … (more) August 9, 2010

  • Errors to watch out on a Credit report

    by Faye Mergel
    Errors to watch out on a Credit report

    Consumers should be aware of mistakes in their credit Report. This was pointed out by Linda Sherry, National priorities Director of Consumer Action. Beware! Once somebody you do not know calls to inquire on someone’s debts, your address, correct spelling of your name or any information about you, this could enter on your Credit Report. Unsolicited incoming calls are usually the start of alterations in your Credit Report. This, after many victims complained of overdue debts, rented apartment which they … (more) August 7, 2010

  • Credit Report Bad News

    by Faye Mergel
    Credit Report Bad News

    No one knows what goes on the minds of lenders and credit card report viewers when they look through the data in the credit reports. Credit card holders maybe biting their nails as their future lenders are skimming through the details. Others would ignore the situation thinking that they have been doing good credit management and there’s nothing to be afraid of. Well, certainly, there is something to be afraid of. Credit reports viewer has their own agenda and criteria … (more) August 5, 2010

  • Garbage seen to threaten Credit Report

    by Faye Mergel
    Garbage seen to threaten Credit Report

    The many victims of Credit Report fraud clarified that waste which is most of the time taken for granted posts danger to one’s Credit Report. They claimed that this is mostly in the form of Identity Theft but other forms of fraud are possible too. The traditional method, dumpster diving which means going through one’s garbage is seen as the access thieves use to go through your personal information in your Credit Report. They are not actually interested with the … (more) August 3, 2010

  • Greatest Damage on Credit report Disclosed

    by Faye Mergel
    Greatest Damage on Credit report Disclosed

    Phony Identity has been identified to greatly affect an individual’s Credit report. With this, alert has been raised against impostors using other people’s Credit report following an enormous increase in Identity Theft cases in the U.S. Statistic reveals that cases of Identity Theft from all over the country rose to 10 million in 2008 alone compared to thousands in the previous years and still expected to rise in the future as projected. They said that victims include individuals of all … (more) August 1, 2010

  • Advisory on Credit Report for a Better Chance of a Loan

    by Faye Mergel
    Advisory on Credit Report for a Better Chance of a Loan

    In today’s era, more business firms in the U.S. are vigilant in scrutinizing application as a precautionary measure on their business. Because of this, they advised customers to improve their Credit Report to avail of a loan without so much difficulty. The firm’s advisory was a response to the increasing number of individuals who were denied of a loan or had a hard time availing one. Just like a customer who expressed her concern in one forum in the internet … (more) July 29, 2010

  • Catch-22 poses a threat to job seekers

    by Faye Mergel
    Catch-22 poses a threat to job seekers

    People who are on the lookout for a job and do not have a good credit report backing them are in trouble today. Over 60% of the prospective employers request for a copy of credit report of the candidate and scrutinize it thoroughly before offering them the job. This does not herald good news for people who are currently unemployed. In fact, this only tightens the noose and makes job search even more stressful. Nobody seems to give a thought … (more) July 27, 2010

  • Fraud Alert: The Good, the Bad, the Ugly and The Bright Side

    by Faye Mergel
    Fraud Alert: The Good, the Bad, the Ugly and The Bright Side

    A fraud alert is a safeguard tool used to notify everyone that checks a cardholder’s credit report that the cardholder is a victim of identity theft. Viewer of the report would have to verify that the cardholder is the person really applying for credit. The service is free and takes about ninety days. An extended fraud alert, which lasts for seven years, needs an identity theft report from a law enforcement agency. An active duty alert, which lasts one year, … (more) July 25, 2010

  • Credit Reports For Free

    by Faye Mergel
    Credit Reports For Free

    Everybody knows how credit reports affect credit card holders. The possibility of obtaining future loans, employment and services availed depend on those pieces of information contained in the credit reports. Card holders are also aware that bad credit reports can expose them to higher risks of financial failure or higher debts. But what cardholders are not that knowledgeable about how they can secure themselves to financial crises regarding their credit. The Fair and Accurate Credit Transactions Act (FACTA), a law … (more) July 23, 2010

  • Freezing Reports Fights off Scammers

    by Faye Mergel
    Freezing Reports Fights off Scammers

    Many Americans have no idea that freezing their credit reports can actually prevent scammers to gain access their credit history. Credit report freeze or security freeze is a method where the credit card reporting agencies block or lock the data contained in credit reports of cardholders. It is done upon the customer’s request to disallow others from viewing the credit history. The customer is also not allowed to open a new credit account while the credit freeze is taking place. … (more) July 21, 2010

  • Student Loans on Credit Report

    by Faye Mergel
    Student Loans on Credit Report

    Many college students ask whether their student loans will appear in their credit report or not. The answer is: yes, they do. They remain on the credit report for, to college students’ dismay, about seven years. Credit reports contain information that is useful when applying for loan, setting up for new accounts, applying for insurance and such. With the problems in creditworthiness and default risks, it is obviously proper for lenders to have a background check on their potential customers … (more) July 19, 2010

  • Credit Reports Bad News Continues

    by Faye Mergel
    Credit Reports Bad News Continues

    Mortgage Meltdown: Past Revisited. No one can forget what happened during the mortgage meltdown. In 2008, FICO scores were said to be unreliable and their creator corporation have had a hard time defending itself when many homeowners and banks accused the scores for the crisis. Credit scores are calculated based on the information details contained in the credit report. Thus, the FICO scores controversy affected cardholders and lenders’ reliance on the credit reports. Many banks who rely mostly on the … (more) July 17, 2010

  • Fair Credit Reporting Act Protects Consumer Credit Rights

    by Faye Mergel
    Fair Credit Reporting Act Protects Consumer Credit Rights

    The Fair Credit Reporting Act which was passed in 1970 is the foundation of consumer credit rights in the United States today. The fairness, accuracy, and privacy of all your personal data in the records of consumer report agencies is promoted by the FCRA. However, keep in mind that some states have their own consumer reporting laws and you may have more rights under the laws of your state. Here are some of major rights afforded by this piece of … (more) July 15, 2010

  • Credit Report Dissected

    by Faye Mergel
    Credit Report Dissected

    Credit Reports can be viewed by credit card holders once in every twelve months in AnnualCreditReports.com under federal laws. The three main credit bureaus are responsible in issuing these free annual reports. This is to make cardholders aware of the fact that it is important to view the report with their own very eyes to detect errors or symptoms that could lead possibly to fraud or theft. If errors do exist, the cardholders must contact the credit bureaus to discuss … (more) July 13, 2010