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Most Recent News in Credit Report News

  • Federal Laws Can Damage Credit History

    by Faye Mergel
    Federal Laws Can Damage Credit History

    The Credit Card Accountability Responsibility and Disclosure (CARD) Act simply known as Credit CARD Act of 2009 has opened portals to fair treatment to credit card holders and merchants. The problem is not all people are satisfied with the passed federal law which was passed earlier this year. Though the Act prevented excessive payment of fees on the credit cards, the act did not limit price controls, rate caps, and fee setting. The act does not limit how high interest … (more) July 11, 2010

  • Prisoners Take Advantage of Credit Program

    by Faye Mergel
    Prisoners Take Advantage of Credit Program

    The home-buyer tax credit has demonstrated its popularity with millions of new homeowners since its introduction. However, if a Treasury report will be believed, it is also very popular with criminals who are being alleged with claiming the tax credit despite their being imprisoned, thus defrauding millions from legitimate tax payers. A percentage of the inmates who received checks from the government were serving their life sentences for a myriad of offenses. The Treasury Inspector general prepared a report which … (more) July 9, 2010

  • You should scrutinize your credit report

    by Faye Mergel

    An application for either credit or financing would pull his or her electronic records from one of the three main nationwide consumer reporting agencies. These three are Equifax, TransUnion and Experian. These companies are the ones in charge of the maintenance of correct and current credit information all throughout the nation. The billions of electronic data that they have to handle in order to provide such information makes it inevitable that there would be errors in the reports. A large … (more) July 7, 2010

  • Financial Reforms Legislation near Approval

    by Faye Mergel
    Financial Reforms Legislation near Approval

    Elected officials have made new policies which would directly have an effect on consumers. Reforms in the financial sector are now finalized, as long as the Congress and the Senate votes in favor of it in the days ahead. Investors have been unsuccessful in their bid to get what they want. Action in their customer’s best interest is still not required from stockbrokers and annuity peddlers, which is an example of one of these failures. However, a free credit score … (more) July 5, 2010

  • Deceiving Advertisement on Credit Report

    by Faye Mergel
    Deceiving Advertisement on Credit Report

    To fully arrest problems that may arise from Credit report Services offered by many fake Credit Reporting companies all over the internet, the 3 major players in Credit Reporting together with their web site urges customers to obtain their report from them which may save them cash instead. Relying on the advertisement of these agencies will only create more problems because their advert is most of the time deceiving they claimed. The misleading way of plugging in the internet angered … (more) July 3, 2010

  • Identity Theft on Credit Reports Busted

    by Faye Mergel
    Identity Theft on Credit Reports Busted

    Not all credit reports are accurate. Many people claim are denied credit due to very low credit scores but these people have no idea where those 3 digit numbers came from. Many people also find credit card bills charged to their name although there weren’t a time that they even applied for a credit card. Worse a collection agent comes knocking on people’s door demanding for an overdue amount that is in reality has nothing to do with those people … (more) July 1, 2010

  • Credit Bureaus Reveal What Cardholders Must Know About

    by Faye Mergel
    Credit Bureaus Reveal What Cardholders Must Know About

    Credit Reports are the resume for future credit loan approvals. It is an excellent credit tool to determine whether a potential credit holder is capable of abiding with the credit terms or not. The three main credit bureaus – Equifax, TransUnion and Experian – have their say on credit card management. TransUnion laid down five simple to managing errors in credit reports. Get the facts. Customer must know their own credit history. This will allow them to spot for errors … (more) June 29, 2010

  • Mortgage Bailouts Reaches the Hundred Billion Mark

    by Faye Mergel
    Mortgage Bailouts Reaches the Hundred Billion Mark

    With private loan providers being all the more too picky with aspiring home owners, government-owned Freddie Mac and Fannie Mae comes over and provides home loans to almost every person—with or without stable employment or source of income. While it is supposedly a major consideration for private home loan providers, these government-owned lending institutions did not bother to check the capacity of the people for repaying loan. To date, both institutions have a combined total of $145 government credit. And … (more) June 27, 2010

  • Talks about Granting Loans to Good Credit Businesspeople Now Being Discussed

    by Faye Mergel
    Talks about Granting Loans to Good Credit Businesspeople Now Being Discussed

    Small business accounts for the majority of economic activity in a country. That is why right after economic problems are resolved; the government pushes for the creation of many businesses in order to revive the ailing economy. And Federal Reserve Charirman Ben Bernanke has the same sentiment and wants to employ this solution in order to help the US economy recover. In his speech in a small business round table discussion, Bernanke said that the creation of business will then … (more) June 25, 2010

  • Credit Card Freebies Up For Grabs For People Who Qualify

    by Faye Mergel
    Credit Card Freebies Up For Grabs For People Who Qualify

    There is an age old saying about early birds getting the early worms. Nowadays, thought it may still apply people with excellent credit report get all the worm— or for this specific matter, the freebies. Credits cards have become a staple in every American’s wallet for some time now. The aggressive promotions regard these plastic cards as manna sent from up above. Nevertheless, if you will look closely some cards charge interest rates that are too steep. Most of these … (more) June 23, 2010

  • Talks About Granting Loans To Good Credit Businesspeople Now Being Discussed

    by Faye Mergel
    Talks About Granting Loans To Good Credit Businesspeople Now Being Discussed

    Small businesses account for the majority of economic activity in a country. That is why right after economic problems are resolved; the government pushes for the creation of many businesses in order to revive the ailing economy. And Federal Reserve Charirman Ben Bernanke has the same sentiment and wants to employ this solution in order to help the US economy recover. In his speech in a small business round table discussion, Bernanke said that the creation of business will then … (more) June 15, 2010

  • Credit Card Freebies Up For Grabs for People Who Qualify

    by Faye Mergel
    Credit Card Freebies Up For Grabs for People Who Qualify

    There is an age old saying about early birds getting the early worms. Nowadays, thought it may still apply people with excellent credit report get all the worm— or for this specific matter, the freebies. Credits cards have become a staple in every American’s wallet for some time now. The aggressive promotions regard these plastic cards as manna sent from up above. Nevertheless, if you will look closely some cards charge interest rates that are too steep. Most of these … (more) June 13, 2010

  • Banks Try To Figure Out How To Earn Profit Without Raising Interest Rates

    by Faye Mergel
    Banks Try To Figure Out How To Earn Profit Without Raising Interest Rates

    Despite US laws limiting changes to proposed interest rates for credit cards, US banks are now trying to outsmart law enforcers by finding other ways. The banks and other independent card issuers are going around and looking for small loopholes in order to find a justified way of raising the interest for using their credit cards. The Credit Card Accountability, Responsibility and Disclosure Act was passed by Congress in May 2009. It banned interest rates increases and prevented companies form … (more) June 11, 2010

  • Keep An Eye On Consumer Reporting Agency Financial Reports

    by Faye Mergel
    Keep An Eye On Consumer Reporting Agency Financial Reports

    Consumer Reporting Agencies are institutions being hired in order to investigate about the financial obligations of people. These are legitimate businesses that are tasked to collect credit and spending information of various people. They collect inormation first hand from court decisions (for bankcruptcy), lenders (for auto or house loans), and other informal lenders in the neighborhood. The information they collected is compiled into individual records and is in turn being sold to credit bureaus such as Experian, Equifax and TransUnion. … (more) June 9, 2010

  • Singular Regulation of Credit Companies Proposed by EU

    by Faye Mergel
    Singular Regulation of Credit Companies Proposed by EU

    In the wake of a possible financial crisis, the 27-member nation European Union pushed for single regulation of credit-rating companies in the industry. In this regard, the agency that will stem out from this single regulation will then increase competition within the credit industry and will possibly ward off the occurrence of a debt crisis. This is the only way that EU sees it can revive its ailing financial standing. This new credit agency will have the power to investigate … (more) June 7, 2010