Credit Report Archive for September, 2009

• Equifax Adds Identity Feature

  by Faye Mergel
  

  Equifax announced today that their new security feature is already available. Equifax Identity Report ™ aims to protect consumers against fraud and erroneous information on their account. This is the most recent addition to this credit bureau’s Personal Information Solutions. Equifax, the oldest of the three major credit bureaus in the United States, established a new system that will provide a consumer significant information about who he is dealing with. The Equifax Identity Report will allow a person to share … (more) September 6, 2009

• Identity Theft Affects more than Credit Report

  by Faye Mergel
  

  Fort Wayne, IN- Credit specialists often advises consumers to check their credit reports regularly to avoid identity theft. However, one case of identity theft may affect more than the person’s credit report. Last August 25, a man who identified himself as Damein Carlisle was shot at an intersection. This Saturday, the real Damein Carlisle showed up and informed authorities that he is not a victim nor involved in any shooting incident. The unidentified man, whose identity is withheld to avoid … (more) September 6, 2009

• Rejection over Credit Report

  by Faye Mergel
  

  More and more companies refer to credit reports before hiring a job applicant. Although the most recent official survey will not be available until later this year, The Employers Association in Charlotte say that more companies are pulling out credit reports before deciding who to hire. In a 2004 research by the Society for Human Resource and Management, 43 percent of companies say that they check credit reports of job applicants. That is almost double the 1998 figure of 25 … (more) September 6, 2009

• Manage Debts, Get Credit Report

  by Faye Mergel
  

  Credit specialists say that now is the best time to settle debts. The economy is still struggling and with new credit laws, banks and other lending companies are expected to implement more changes in the coming months. Experts view that with the present economic situation, consumers should do their best to avoid credit penalties. Bill Hardekopf, chief executive officer of a credit information site, says that now is “not a good time to learn that your card has been cancelled … (more) September 6, 2009

• Consumers Should Know Credit Report Rights

  by Faye Mergel
  

  Credit specialists advise consumers to be more mindful of their rights to avoid being cheated or scammed. A couple of weeks ago, the Federal Trade Commission (FTC) imposed $77,000 worth of civil penalties on two railway companies for violating the rights of employees and job applicants. Quality Terminal Services and Terminal Services fired employees and rejected job applicants because of their credit reports. Last August 13, United States District Court for the District of Colorado ruled that the practice of … (more) September 6, 2009

• Bad Credit Reports Discourage Consumers

  by Faye Mergel
  

  Credit bureaus keep giving bad reports. The simple reason: consumers are having more difficulty in meeting credit obligations. As a consequence, consumer credit slowed down. This is revealed by a study conducted by the National Credit Regulator (NCR). Released August 26 this year, the Regulator’s second Consumer Credit Report reveals that there is a fall of 8.64% in the total number of agreements made in the last quarter of 2008. The value of credit transactions in that same period also … (more) September 6, 2009

• Consult a Credit Report Before Making a Decision

  by Faye Mergel
  

  Experts advise consumers to check their credit reports first before refinancing their loans. Financial specialists say that this will help consumers make a decision on whether they should apply for a loan or not. Studies on credit reports show that about 25% of the annual financial reports are inaccurate. It is also common for consumers to find out that their reports contain out of date data or information. The unfortunate thing is that most of them find out too late. … (more) September 6, 2009

• Tougher Times for Good Report

  by Faye Mergel
  

  Those who want to get their credit records now might as well prepare themselves for poorer reports. Consumers are expected to have more difficulties in keeping good credit records as lenders lay out new credit rules. Among the problems consumers will face are higher transaction charges and diminishing credit card deals. Lending companies have also become picky in who they will lend money to, making it harder for more consumers to fix their credit records.  However, the greatest problem that … (more) September 6, 2009

• Experts: Get Credit Reports Now

  by Faye Mergel
  

  Experts say that consumers should get their credit reports now, more than ever. In what many perceive to be a worsening economy, experts suggest that knowing one’s score will help in making better decisions. A credit report indicates a person’s present financial status. Much of this is based on one’s score. This report is gathered by banks, creditors, and even cell phone companies, to determine an applicant’s likelihood of paying. A person who is likely to pay is naturally given … (more) September 6, 2009

• Strive Hard to Get Positive Credit and See Your Credit Rating Improve

  by Andy Snyder

  There is one thing that many consumers like when they are spending using credit. This is having a healthy credit rating. This does not only mean not getting bankrupt. It also means having the right credit report and doing the right steps to have a positive credit. It is simple to see why. Having a bad credit rating does not only mean being in a bad financial state. It actually also tells that you are likely to fail securing future … (more) September 5, 2009

• Improve Your Credit Rating: Document Credit Report Errors

  by Andy Snyder

  One of the major factors that determine credit ratings is information found in your credit report. A credit report usually holds such information like account history, account histories, and personal information among others. The important thing here is that this information is valuable to every credit consumer. This data actually may determine one’s financial status, as well as his/her financial responsibility. Following that logic, having a bad credit report follows with having bad credit Rating. This is because credit … (more) September 5, 2009

• Make a Bold Move: Challenge Credit Report Errors

  by Andy Snyder

  One of the most problematic situations that consumers may encounter is having their credit rating in a very bad state. In a situation wherein using credit for several transactions are fast becoming the norm, there are many instances wherein expenses are not monitored properly. This situation may mean disastrous after effects for consumers. In fact, excessive expenses are one of the main reasons why credit ratings fall. Also, being in such a condition may affect our ability to secure … (more) September 5, 2009

• Boost Your Credit Score by Keeping Financial Records on Tract

  by Andy Snyder

  Having a low credit score is one of the worst financial disasters that consumers may encounter. This fact does not only mean that there is a larger propensity for failing to secure a future loan. Also, this may mean the end of the convenience of spending by the name of credit. Surely, the reason why many Americans choose to spend using credit cards than hard cash is because of convenience factors. Also, many establishments have adopted the credit card as … (more) September 5, 2009

• Validate Your Credit Report and Boost Your Credit Ratings

  by Andy Snyder

  Many people are now more comfortable at spending by the credit. In fact, more people are spending on credit as compared to people spending on cash. One basic reason why is because of convenience. Many consumers want to have their daily routine as convenient as possible. That is why it is more likely that you would spend using you credit card that getting your wallet to let cash out. There are just so many places where credit can be used. … (more) September 5, 2009

• Helpful Guidelines When You Are Consulting Credit Repair Firms

  by Andy Snyder

  It is not so uncommon for consumers to see people that are financially problematic. This is very true especially when they are talking about credit reports and ratings. Problems and worries about unfair credit reports or negative credit ratings are actually very commonplace, that seeking the right credit report advice is needed by many. The simple reason behind this situation is because consumers right now prefer credit. More Americans prefer to have their transactions on credit rather than on cold … (more) September 5, 2009