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Most Recent News in Credit Score News

  • Increasing Bills, Bad Credit Scores And No Jobs All Go Hand In Hand

    by Sally Maison
    Increasing Bills, Bad Credit Scores And No Jobs All Go Hand In Hand

    Poor credit scores, as bills were not paid, additional loans availed, high credit card debt are now reasons for one not finding that ideal job. This concept has caused uproar in the country, wondering why employers have to look at one credit rating to gauge the competency of an employee. Many applying for jobs especially after the economic crisis have been rejected by employers not based on the experience they have, or the work principles or even their level of … (more) April 12, 2010

  • Encouraging Home Owners To Make The Best Of The Situation

    by Sally Maison
    Encouraging Home Owners To Make The Best Of The Situation

    The budget set by the Chancellor earlier last month has given a first-time buyer a boost, with an increase in the stamp duty to £250,000 which was earlier at £125,000. However it comes with a one percent interest payment. This benefit extends for two whole years and is perceived to have an increase in the list of enthusiastic home owners. Reports according to a financial portal moneysupermaket.com have shown a 15% increase in the number of individuals who are busy … (more) April 10, 2010

  • Insurance Screening Based On Credit Score Targeted By New Brunswick Government

    by Sally Maison
    Insurance Screening Based On Credit Score Targeted By New Brunswick Government

    The insurance consumer advocate in New Brunswick said that the local government is considering passing legislation to prevent insurance providers from reviewing the credit scores of the applicant before issuing an insurance policy. Criticizing the current policy in his annual report that was released on Tuesday, Ronald Godin said that once the new legislation came into effect, New Brunswick will be first province of the United States to eradicate this policy. On the basis of customer complaints he receives on … (more) April 8, 2010

  • A New Model for Credit Scores For Insurance Regulators

    by Sally Maison
    A New Model for Credit Scores For Insurance Regulators

    One of the hottest topics doing the rounds for quite a while is the use of the credit score to determine the eligibility for the home loan or auto loans. People are also debating if determining the amount and rate of interest based on the credit score is a wise thing to do. It is surprising to see that the insurance regulators are trying to tackle, albeit weakly. The National Association of Insurance Commissioners has taken a small step, referred … (more) April 6, 2010

  • Professional Advice to Boost Your Credit Score By Kelli Grant

    by Sally Maison
    Professional Advice to Boost Your Credit Score By Kelli Grant

    These difficult economical times makes getting credit plain hard luck! Here are a few suggestions by Kelli Grant, a Senior Consumer Reporter, to boost up your credit score. The first step to a high credit score is to be aware your credit score. In these trying economic times, a credit score of 750 seems to be the ideal. Grant states “Anything less than a 750 is a great miss or hit”. But not to worry he says, the little changes … (more) April 4, 2010

  • New Steps to Achieve Healthy Credit Scores

    by Sally Maison
    New Steps to Achieve Healthy Credit Scores

    The SmartMoney section of The Wall Street Journal explained in detail about the effect of the new regulations controlling credit card companies issued in February, 2010. The news published on March 16, 2010 pointed out the changes in the operations of the credit card companies under the new regulations and also the alterations in the rules related to consumers in maintaining good credit scores.  The news item mentioned that consumers should continue to pay the credit card dues promptly without … (more) April 2, 2010

  • Government Mortgage Assistance Program May Cause Credit Score Drop, But Better Than Foreclosure

    by Sally Maison
    Government Mortgage Assistance Program May Cause Credit Score Drop, But Better Than Foreclosure

    Homeowners who are doing their best in keeping up with their mortgage payments but are at risk of defaulting can sign up for the mortgage assistance program of the government. The program is being offered by the Obama administration to help homeowners avoid defaulting on their payments. Unfortunately, there is a nasty side effect to the program. Homeowners who enroll in the program can see their credit scored drop by as much as a hundred points. When homeowners enroll in … (more) March 22, 2010

  • Credit Score Details Consumers Ought To Know

    by Sally Maison
    Credit Score Details Consumers Ought To Know

    Credit scores have become the credit and loan industry’s magic number, especially now that the economy is at a very weak state and lenders and credit companies are in a very vulnerable position. While many consumers are aware of the importance of credit scores, not as many are aware of the many factors that make up a credit score. While there are other companies that offer credit score calculations, by far the most popular one is the formula being used … (more) March 17, 2010

  • On Using Personal Loans To Bring Your Credit Score Up

    by Sally Maison
    On Using Personal Loans To Bring Your Credit Score Up

    Like most American consumers, you probably got hit hard when the economic recession hit. The drop in employment may have hit you hard too and, if you were one of the unlucky ones, you might have gotten laid off as well. The lack of reliable cash flow may have forced you to rely on your credit cards or take out a loan which may have just made your situation worse. Without a reliable income, you might be delinquent on your … (more) March 15, 2010

  • Credit Industry Practitioners See Credit Scores For Businesses As Inadequate

    by Sally Maison
    Credit Industry Practitioners See Credit Scores For Businesses As Inadequate

    Credit scores have become a byword in the financial sector these days. Whenever anyone is talking about taking out a loan or applying for credit, the words “credit score” will inevitably crop up. While that may be true for individual consumers, the situation is not as clear cut for businesses – at least for a few major lending companies. The fact is that credit scores – while touted to be the ultimate metric on which lenders and creditors base their … (more) March 12, 2010