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Most Recent News in Credit Score News

  • Insurance Rates Up – Check Your Credit Score

    by Sally Maison
    Insurance Rates Up – Check Your Credit Score

    Many people faced up a double price on their premiums in the recently issued bills. And the cause was unknown. Dave Fredrick’s premium for home insurance had to be renewed and when it came for renewal he had a raised eyebrow of thoughts. The rate on his Blenheim was double the rate he expected so he decided to find out the cause.  What he found out surprised him. He was like one of the Canadians who lost their jobs due … (more) May 4, 2010

  • Credit Scores Found To Double Home Insurance Rates

    by Sally Maison
    Credit Scores Found To Double Home Insurance Rates

    Most insurance companies that need help in assessing risk and determination of premium costs in Canada are now turning towards their credit scores. Many people saw a rise in the premiums after the insurance companies decided to consider the credit scores said the market place, CBC-TV. Since many other insurance companies took this step of determining premiums so as to calibrate risk, so did the cooperators being the largest Canadian insurance company. They said that the only way to predict … (more) May 2, 2010

  • Credit Score – Clearing The Air

    by Sally Maison
    Credit Score – Clearing The Air

    Most economists advise customers’ to check their credit score on a regular basis and be watchful for identity theft and credit fraud.  It’s not uncommon for even a customer who diligently checks their credit to be caught unaware of what the information in their report means. Samuel S Ambrose, Vice President of Marketing and Operations for a financial organization mentions that “By now, consumers know that they should monitor their credit regularly, But many people don’t have basic knowledge and … (more) April 28, 2010

  • Knowing Your Credit Scores Helps You Boost It Higher

    by Sally Maison
    Knowing Your Credit Scores Helps You Boost It Higher

    Did you know 70% of you have a credit score that actually affects the chances of you getting a loan for your car or a mortgage! This 3 digit number scores a thought in your making you wonder why you need to know your score when you know what is in your report. Ray Martin, an advisor for finance says most of the financial institutions and lenders of mortgage accept applications based on your FICO points. FICO score is actually … (more) April 26, 2010

  • Asking for loan pulls down credit score

    by Sally Maison
    Asking for loan pulls down credit score

    Less credit scores are affecting house owners who signed up for program of mortgage assistance by the government. For those people, who pay on time and yet are almost at default, are hit with the shock that their credit scores can come down by 100 points because of the modification of loan program by Obama administration. Making it harder to get a loan only makes getting a job even harder. Eileen Anderson, a sr. vice-president of a housing counseling group … (more) April 24, 2010

  • New credit scoring model seen advantageous to consumers

    by Sally Maison
    New credit scoring model seen advantageous to consumers

    There had been some recent changes done in the credit score model calculation. The new changes could bring a big impact with on borrowers trying to apply for a mortgage or some other forms of financing. The changes in the credit score calculation are as follows: Having an available higher credit limit and a low balance would be a good qualification for a good scoring formula. When the ratio results to a 30% or lower, the more beneficial it is … (more) April 22, 2010

  • FTC’s public warning against credit card scams

    by Sally Maison
    FTC’s public warning against credit card scams

    There had been a lot of scams in the past and the latest addition to the list are phone calls from companies which promises consumers of credits cards with the lowest interest rate you could imagine, an offer to fix a damaged credit report and the most promising of all- awarding customers of a higher spending limits. The Federal Trade Commission of FTC announced late March this year that the Credit Restoration Brokers and Debt Negotiation Associates has agreed to … (more) April 20, 2010

  • FTC monitors on Free credit report websites

    by Sally Maison
    FTC monitors on Free credit report websites

    With the new federal rules which regulate web sites that advertise and offer free credit reports, most companies nowadays have come up with a new marketing strategy.  Due to a number of complaints regarding companies that offer free credit reports which turned out to be a paid service when a customer forgets to cancel the free service, instead of a free report companies are now offer free credit scores. There is a site that actually charges a customer a dollar … (more) April 18, 2010

  • FTC To Implement A New Credit Score Report Procedures

    by Sally Maison
    FTC To Implement A New Credit Score Report Procedures

    An easy access to your credit score, FICO score, summary of your account, aide when dispute arises and ID theft monitoring; these are the coverage of the talked about credit report service which would cost a person a monthly charge but these information could actually be gotten for free. The World Wide Web is the place for everything and there are a lot of sites which offer free credit score reports but a lot of them also do have hidden … (more) April 16, 2010

  • New overdraft rules to take effect on July 1, 2010

    by Sally Maison
    New overdraft rules to take effect on July 1, 2010

    Consumer groups are now on a great effort to look after banks that are too desperate to convince debit card users to give in or opt into the overdraft fees. This kind of option is believed that it could be used as a way to deceive cardholders. The Federal Reserve Board came up with a proposal to a new rule that would ban credit unions and banks that would charge overdraft fees to clients who make withdrawals through ATMs or … (more) April 14, 2010