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Most Recent News in Credit Score News

  • Capital One Facing Court Complaints in Charleston, W.Va.

    by Sally Maison
    Capital One Facing Court Complaints in Charleston, W.Va.

    Recently, the office of West Virginia Attorney General, Darrel McGraw, requested a Mason County judge to stop what they allege to be improper credit card practices being perpetuated by the bank Capital One and a number of their subsidiaries. This complaint was filed in the Mason Circuit Court and names Capital One, COSI Receivables Management Inc. and a few of other subsidiaries of the bank as defendants. The complaint accuses Capital One of several unfair credit card practices such as … (more) March 10, 2010

  • True Name Fraud, A Serious Threat To Consumer Credit Scores

    by Sally Maison
    True Name Fraud, A Serious Threat To Consumer Credit Scores

    At a time when consumers are keeping a careful watch on their credit scores, the threats against it seem to be increasing daily. Credit card companies dealing with the new Credit CARD Act are adding more pitfalls in their credit card terms which can potentially ruin the credit score of the unfortunate consumer who falls for these traps. Building up a good credit history is getting more difficult as credit card application approvals continue to be stricter. And, of course, … (more) March 8, 2010

  • Fact or Fiction: Closing Your Credit Account Improves Your Score

    by Sally Maison
    Fact or Fiction: Closing Your Credit Account Improves Your Score

    At first bat, closing a credit account would seem helpful towards the improvement of your score. This is because you would no longer have an account that holds balances to begin with. With credit balances out of the picture, then your score should improve, right? Wrong! Believe us when we say that this would not improve your score a bit. In fact, it would do the exact opposite – it would hurt your score. If you have always been responsible … (more) March 6, 2010

  • The Hazardous Effects of Identity Theft on Credit Scores

    by Sally Maison
    The Hazardous Effects of Identity Theft on Credit Scores

    Identity theft has always been quite a hassle, particularly in the credit card industry. More importantly, identity theft is not just one act of crime committed, several crimes are actually performed. The whole criminal process starts from the point when a thief steals the victim’s credit card information and ends when a thief opens several accounts using the victim’s identity. Statistics show that roughly 15% of identity theft victims have graver problems than their perpetrators using their identities to obtain … (more) March 5, 2010

  • Credit Score Check First Before Buying A Home

    by Sally Maison
    Credit Score Check First Before Buying A Home

    Consumers looking to buy a home in these times may have a few hurdles to make, none of which are going to be easy. That is only to be expected considering how bad the economy was last year – and recovery will still take some time. One particular hurdle for consumers who want to buy their own home is their credit score. These days, credit scores have become a byword in the financial sector. New developments in the credit industry, … (more) March 3, 2010

  • New Minimum Credit Score not Enough, Analysts Say

    by Sally Maison
    New Minimum Credit Score not Enough, Analysts Say

    Industry analysts were glad when the Federal Housing Administration had finally taken measures to prevent more borrowers from defaulting on federal-backed loans. If the FHA does not stop the growing number of defaults, it may no longer be able to secure home loans in the long run. However, some analysts are not satisfied with the new rules since they believe the new credit score minimum is still quite low. Additionally, they do not think it is fair to require higher … (more) March 1, 2010

  • Low Credit Scores Now Hurting Employment Opportunities

    by Sally Maison
    Low Credit Scores Now Hurting Employment Opportunities

    At the moment, the unemployment rate in the country is way beyond reasonable and analysts say it is going to stay that way for a while now. A lot of American consumers are now looking for work and, unfortunately finding jobs has not been easy for them so far. Americans with credit score and financial problems who are looking for a job right now may have to count on another headache that is sure to put a crimp on their … (more) February 27, 2010

  • Credit Score Repair Much Easier With Secured Credit Cards

    by Sally Maison
    Credit Score Repair Much Easier With Secured Credit Cards

    A lot of American consumers got their credit scores trimmed down during the economic crisis of the past two years. With their credit scores down, these consumers are going to have a hard time getting loans and applying for credit cards. There are even some people who suggest that people with low credit scores are going to have trouble getting a job. Rebuilding a ruined credit score can be a tough job. One thing that can make that much more … (more) February 21, 2010

  • On Credit Scores And Mortgages

    by Sally Maison
    On Credit Scores And Mortgages

    For consumers looking to buy themselves a home, getting a mortgage is usually the quickest and most convenient way to do it. However, with the economy the way it is at the moment, a lot hangs on how good a credit score the consumer has when he or she is applying for a mortgage. Credit scores, the most popular of which are the FICO credit scores, are a measure of how good of a borrower a consumer is. The score … (more) February 18, 2010

  • Lenders Now Looking For Higher Credit Scores

    by Sally Maison
    Lenders Now Looking For Higher Credit Scores

    It has been going around in the news that consumers are moving away from credit cards and going to debit cards. A lot is being said about the new, more savings-focused and less credit-hungry spending habits of American consumers. That sounds good but there may be another equally weighty factor in the trend. It may be that consumers are just moving away from credit and finding other means to get a hold of convenient spending options – such as debit … (more) February 13, 2010