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Most Recent News in Credit Report News

  • Be cautious while trying to obtain a free credit report

    by Faye Mergel
    Be cautious while trying to obtain a free credit report

    When you wish to obtain the so-called free credit report, you must be doubly cautious. There are many who have burnt a hole in their pockets as they had inadvertently signed up for a paid program. A 23-year-old female sales associate from Northern Virginia wanted to run a check on her credit report and she signed up for a free credit report. She was also one of the many people who knew that she was well within her rights to … (more) July 4, 2011

  • Nuances of disputing credit report errors perfectly

    by Faye Mergel
    Nuances of disputing credit report errors perfectly

    Credit reports are essentially the passport to your financial world. You need them when you apply for a credit card, auto insurance, renting an apartment, or even when you seek employment. The information that is contained in your credit report is very critical as this is used to measure your creditworthiness and most banks and financial institutions use them for verification purposes. Hence, it is important to ensure that your credit report is in order and does not contain any … (more) June 30, 2011

  • Check your credit report periodically for errors and avoid delays while securing a loan

    by Faye Mergel
    Check your credit report periodically for errors and avoid delays while securing a loan

    Even your credit report needs some cleaning up once in a while, just like the way you would clean up your wardrobe or your garage. Your credit report contains your credit history which is the foundation for financial stability. The information that is found on your credit report is what companies like FICO use in order to generate the credit score. Credit scores are used for everything including the interest that you would be charged on your loan, that is … (more) June 25, 2011

  • Reliability of credit reports examined through new study

    by Faye Mergel
    Reliability of credit reports examined through new study

    The credit reports are an important aspect in our daily lives, given the fact that it is increasingly used everywhere and has a huge impact on the economy in the US. It is important for lenders, regulators, consumers, financial institutions etc., and all of them have a vested interest in these reports. Hence it becomes imperative that we understand the quality of the data that is contained in these credit reports. The accuracy of the credit reports has been a … (more) June 18, 2011

  • Mistakes in the credit report – what can you expect

    by Faye Mergel
    Mistakes in the credit report – what can you expect

    Whenever a person finds a mistake in the credit report the next course of action would be to dispute. This is a right given to you under the Federal Law and you are entitled to dispute any information that is incorrect. You can report to the credit reporting agencies who are reporting the data and the furnisher as well (the credit card issuing company, the debt collector, or auto lender for instance). The furnisher will have to carry out the … (more) June 10, 2011

  • Check for mistakes in your credit report or it could cost you dearly

    by Faye Mergel
    Check for mistakes in your credit report or it could cost you dearly

    The type of credit you have can have a huge impact on what you want to buy – irrespective of whether it is a cell phone or a house that you are planning to buy. Most people in the industry state that the credit report is more or less like a report card for grown-ups. This clearly shows your ability to handle finances but the report could also contain mistakes and reflect a bad grade. The policy and economic research … (more) June 5, 2011

  • Credit report errors and its effect on consumer’s creditworthiness

    by Faye Mergel
    Credit report errors and its effect on consumer’s creditworthiness

    According to the reports of the new study that was released today by the Policy and Economic Research Council (PERC), consumers can now rest easy and they need not be too concerned if there is a possibility of errors occurring in their credit reports, which could be negatively affecting their creditworthiness. The PERC research is a statistically sound and comprehensive study that is performed under rigorous peer review. The accuracy of the data that has been collected and maintained by … (more) May 23, 2011

  • Credit report and the impact on your job search

    by Faye Mergel
    Credit report and the impact on your job search

    It is not uncommon to see people applying for their dream job and then worrying if their credit report will prove to be a tough obstacle to overcome in order to attain that elusive appointment letter. An increasing number of employers are conducting a pre-employment credit check of potential candidates before offering the job. One of the surveys published in 2010 by the Society for Human Resource Management says that around 47% of the companies evaluate the credit report of … (more) May 18, 2011

  • Industry funded study reveals errors in credit report rare

    by Faye Mergel
    Industry funded study reveals errors in credit report rare

    One of the studies conducted by the three major credit bureaus in the country has revealed that there is less than a percent chance of credit reports having errors that can have an impact on the credit score of the customer. This particular study was conducted by the Policy and Economic Research Council based in Durham, North Carolina. The head of this center, Michael Turner, said that as a part of the study a large number of credit reports were … (more) May 15, 2011

  • Credit rating bureaus need to provide answers regarding VIP lists to senator

    by Faye Mergel
    Credit rating bureaus need to provide answers regarding VIP lists to senator

    Senator Dick Blumenthal now seeks a valid explanation from the three credit rating bureaus with regard to the New York Times report that reportedly refers to a VIP list that these bureaus apparently keep while favoring the rich and the famous over the others. A letter was written on Monday by the Connecticut Democrat to the 3 credit reporting agencies – Equifax, TransUnion, and Experian, regarding the separate system where disputes and errors are resolved much faster and more attention … (more) May 6, 2011

  • Dispute errors in credit report successfully to maintain good history

    by Faye Mergel
    Dispute errors in credit report successfully to maintain good history

    It is beyond doubt that the credit report holds the key to any customer’s financial well being. This report plays an important role in all walks of life including finding a job, renting an apartment, obtaining car insurance and above all, while availing any type of loan from banks and financial institutions. All lenders today look into the credit report to establish the credit worthiness of the applicant and assess the risks they need to take if they approve the … (more) May 1, 2011

  • Steps and action plan to improve your credit score

    by Faye Mergel
    Steps and action plan to improve your credit score

    Not only is it important to get your credit reports from the three credit bureaus, it is also important to know how to raise your credit score. A higher credit score makes it a lot easier for you when it is time for a new credit card, car loan or insurance policy. There are several steps one can adopt in order to raise the credit score. The first step is to get the credit report and look for errors. You … (more) April 10, 2011

  • Recovery is possible even after bankruptcy

    by Faye Mergel
    Recovery is possible even after bankruptcy

    When people file for bankruptcy one of the things they are worried about the most is the fact that it will affect their credit score to a great extent. This could mean that they will never be able to buy a house or a car or see their credit score rise over 700 one more time. They will feel in spite of every effort of theirs they will still see bankruptcy on their credit report. But this fear is not … (more) April 5, 2011

  • Dedicate some time to reading credit notices

    by Faye Mergel
    Dedicate some time to reading credit notices

    With new rules making a major change in the whole credit market, there is some good news for consumers as a whole. The secret behind credit scores and how the decision making goes on will be revealed. However, not much good is going to come out if it if customers don’t take some time out to read their credit notices. There will be extra notices and paperwork, but for a change, they will be worth reading. Federal rules that have … (more) April 2, 2011

  • Credit reports from Experian will also contain rental reports

    by Faye Mergel
    Credit reports from Experian will also contain rental reports

    For those customers who want to benefit from their on-time rent payments, there is good news because that information will soon be updated in the credit reports that are given out by Experian. Experian which is based in Costa Mesa will include rental payment data that is positive in the credit reports. This will give a huge edge to customers who don’t have a lot of credit history, like students, recent graduates and even immigrants, who can now build a … (more) March 30, 2011