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Most Recent News in Credit Report News

  • Using Credit Cards Made Even Better For People With Good Credit

    by Faye Mergel
    Using Credit Cards Made Even Better For People With Good Credit

    Lately, credit card companies are offering a type of credit card for people with excellent credit record. Dubbed as “cash back cards”, these give customers the opportunity to benefit from paying their dues in time and in full. People with credit ratings that are rates as good or excellent have the chance of applying for cash back credit cards. These are the type of credit cards return a percentage of what you spend on your credit cards whenever you pay … (more) June 5, 2010

  • More Services For Credit Consumers In Year 2011

    by Faye Mergel
    More Services For Credit Consumers In Year 2011

    Additional checks and balances are provided to credit consumer starting January 2011. With a couple of legislations already in palce to provide more protection to the consumers,different lending firms will have to revise the way they have been handling the business for the past decade. They will have to accommodate changes and improve their services in order to retain their customers and of course, in order to follow the ruling of the Federal Trade Commission. To date, most creditors do … (more) June 3, 2010

  • July 1, 2010 Marks Start Of More Accurate Credit Reports

    by Faye Mergel
    July 1, 2010 Marks Start Of More Accurate Credit Reports

    Starting July 1, consumers can be assured that their credit reporting agencies will be more careful in filing different financial information under people’s report. Recent legislation made this improvement possible because of the growing concern over disputing wrong information. Passing the Free Credit Report Rule, the legislation calls for more accurate financial reports in order to lessen the number of complaints against the three credit bureaus. More conscientious reporting is the concern of those who passed this in the legislative … (more) June 1, 2010

  • Credit Card Act Pushes For Truthful Credit Report Services

    by Faye Mergel
    Credit Card Act Pushes For Truthful Credit Report Services

    The Federal Trade Commission, through its Free Credit Report Rule, advises the credit bureaus Experian, TransUnion and Equifax to avoid advertising other credit report companies aside from annual credit report. This stems from the prior complaints that the FTC has been receiving. Majority of the complaints were about credit report services which were offered to them for free. After the consumers have signed up for the service, they are told a month later that they failed to cancel the subscription … (more) May 29, 2010

  • How Future Employers And Insurance Officers Use Consumer Reports

    by Faye Mergel
    How Future Employers And Insurance Officers Use Consumer Reports

    In an attempt to prevent sensitive informationf rom leaking out, the Fair Credit Reporting Act states that only lenders are authorized to view the credit report of people legitimately. When people apply for a loan, the lenders are thus given the right to assess the applicants by looking at their credit reports. This is done because it is compulsory to view their payment history first before awarding them a loan. However, employers and insurance companies are also being able to … (more) May 25, 2010

  • Unfair To Judge Job Applicants On Their Credit Histories!

    by Faye Mergel
    Unfair To Judge Job Applicants On Their Credit Histories!

    A lot of employers these days check credit histories of applicants who are searching for a job as they feel their character is revealed in these reports. A study shown by them said that businesses in America lose 30 billion dollars to employees who steal. The managers in charge of hiring insist on taking a look at their credit histories along with background checks for any criminal history. This they claim helps them find the right employee. The problem lies … (more) May 23, 2010

  • Cybercrime Rampant In More Populated States

    by Faye Mergel
    Cybercrime Rampant In More Populated States

    Kenneth Swope 50 was financially crippled when his identity was stolen. “[Someone] got a hold of my social security number, and opened up a couple accounts in my name,” Swope said. Swope said he did not know about the theft until Swope, a family man, applied for a loan for his daughter’s college fees. His credit report contained extra credit opening which he did not open and he said “I had to call the credit company to find out who … (more) May 21, 2010

  • Clean up your report for a home loan

    by Faye Mergel
    Clean up your report for a home loan

    Most consumers find buying a home a problem with the loan rates based on credit scores. Experts say that consumers can improve their credit reports by taking precautions to improve their scores and can get loans at lower rates.  Consumers can improve their credit reports by following certain steps  Applying for a free credit report Consumers can get free credit report from one of the three credit bureaus. Consumers get one free per year from each of the three companies. … (more) May 19, 2010

  • Websites watching credit rates create chaos

    by Faye Mergel
    Websites watching credit rates create chaos

    As more banks get more serious about their loan policies, consumers now see need for good credit scores and credit reports. Banks and money lenders evaluate the repaying capabilities of a person based on his/her credit report, credit scores and then fix the rate at which loans are offer to that consumer. The FACT Act of 2003 replaced the FCR Act of 1970 giving consumers one free of charge credit reports from each of the three major credit bureaus namely, … (more) May 17, 2010

  • New Laws clean up fake Credit Report Sites

    by Faye Mergel
    New Laws clean up fake Credit Report Sites

    Government Credit Bureaus have appealed to consumers through advertisements which contained humor and provide entertainment for the entire family. As customers enquired about the advertisement, they realized they were misleading as the credit reports were not free of charge. Consumers were to enroll in credit monitoring programs which they found hoodwinked them into paying hidden charges and enrolled them into other services they did not ask for. The companies made unsubscribing from these services very complicated and time consuming so … (more) May 15, 2010

  • FTC to monitor Credit Bureaus

    by Faye Mergel
    FTC to monitor Credit Bureaus

    Companies offering free credit reports are now expected by the FTC, according to the April bill, to show warning labels on all their advertisements for they “free” credit reports. All websites must providing “free” credit reports must clearly show links to AnnualCreditReport.com, a government run site which is the only site offering credit report free of charge and with no strings attached. Companies may also provide a hotline for credit report information, 877-322-8228. TV and other mass media will also … (more) May 13, 2010

  • Frozen Credit Reports prevent fraud

    by Faye Mergel
    Frozen Credit Reports prevent fraud

    The Better Business Bureau (BBB) during the last “Secure Your Identity” day along with its counterparts shred almost 8 tons of paper. Gearing up for this year, the BBB recommends that the best way to secure your identity would be to shred papers and documents which contain your personal information. The BBB will be present to help shred the right documents and to ensure people do not shred the wrong documents. The convention held at the Idaho Transportation Department head … (more) May 11, 2010

  • Free Credit Reports to be monitored by new laws

    by Faye Mergel
    Free Credit Reports to be monitored by new laws

    The website, www.annualcrditreport.com came into existence to provide consumers with free of cost credit reports on an annual basis in order for consumers to have prior knowledge of their credit reports and credit scores. The site however has been plagued with advertisements by Credit companies for credit reports and other services. The offers are initially under a trial period, and consumers are sometimes are expected to pin in their credit card numbers for the other services the site offers. Consumers … (more) May 9, 2010

  • “Free” Credit Reports now free of charge

    by Faye Mergel
    “Free” Credit Reports now free of charge

    CNN New York states that most of the amendments according to the CARD Act (Credit Card Accountability Responsibility and Disclosure Act) of 2009 were implemented in Feb and the new changes made to the Act will be put to the test starting 2nd April. Credit Bureaus marketing free credit reports are now ordered by the law to give consumers clarity, to ensure consumers are aware that the credit reports from these companies are not free of charge. The consumers must … (more) May 7, 2010

  • Credit Bureaus to reform advertisements

    by Faye Mergel
    Credit Bureaus to reform advertisements

    Everyone who grew up in the United States would have fond memories of those exciting advertisements on TV and other mass media from websites proposing to help them handle their credit reports more carefully in almost all cases consumers have been hoaxed into credit monitoring schemes. “The Federal Trade Commission has received complaints from consumers who thought they were ordering their free annual credit report, and yet couldn’t get it without paying fees or buying other services,” an FTC spokesperson … (more) May 5, 2010