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Most Recent News in Credit Score News

  • Medical bill collection accounts could ruin your credit score

    by Brian Anderson
    Medical bill collection accounts could ruin your credit score

    There are some things that could ruin your credit score and the medical bill collection accounts that are hidden inside millions of credit files are certainly one of them. Even though the bills may have been settled or paid in full years ago, this can still have an impact on your housing loan. Although this may sound farfetched, some experts from the mortgage industry claim that these medical collection records play quite a significant role in bringing down a person’s … (more) July 7, 2011

  • Rebuild your credit history and improve your credit score when you have multiple card debts

    by Brian Anderson
    Rebuild your credit history and improve your credit score when you have multiple card debts

    There are a number of advisers who have been prompting customers to take a look at their finances in the month of June as they hope to end the second half of 2011 on a positive note. Presently consumers are a big mess financially and most of these individuals can’t seem to find a way out of this financial mess that they are in, though they earnestly want to improve their credit scores. Most individuals seem to have multiple debts … (more) July 2, 2011

  • Financial mistakes that impact your credit score

    by Brian Anderson
    Financial mistakes that impact your credit score

    There are some things that can seriously affect your credit scores. Late payment of bills is one such thing, foreclosure, and bankruptcies are the others. All of these financial blunders can cause a serious dip in the credit scores. There is some amount of mystery regarding the way the FICO scores are calculated and no one really knows the precise detailing that goes into the calculation of the FICO score. However, it is important to understand that the FICO score … (more) June 20, 2011

  • What happens to your credit scores when you close your credit card with zero balance

    by Brian Anderson
    What happens to your credit scores when you close your credit card with zero balance

    Most of us would have struggled with bad debts on our credit cards at some point in our lives and when we finally manage to clear the balances on our card, it is only natural to feel relieved and may sometimes think of bidding to our cards goodbye. But think again before you decide to close the card after it has been paid off. There are two things in the credit rating system that could come back to haunt you … (more) June 15, 2011

  • What can you do about your FICO Score and how is it determined

    by Brian Anderson
    What can you do about your FICO Score and how is it determined

    Many of us try our best to get the best APY on our investments, which is a good thing. However, the money should also work the way it is supposed to and in order to do that you must ensure that it can beat the existing inflation rates, so that you don’t end up losing the value of your hard-earned money. But if you are carrying forward a huge balance on one of those high-interest credit cards or have other … (more) June 8, 2011

  • Simple things that could be damaging for your credit scores

    by Brian Anderson
    Simple things that could be damaging for your credit scores

    It is a well-known fact that having credit card balances or making late payments can be very damaging for your credit scores. But there are other things that could be equally damaging for your credit scores. Even some of the very innocent actions can ruin your credit rating. Using your debit card to rent a car Some of us learn about these things the hard way. These seemingly unimportant things can have such a huge impact at times. If you … (more) June 2, 2011

  • Know if your credit scores are good enough

    by Brian Anderson
    Know if your credit scores are good enough

    An increasing number of consumers are making use of the offer for free credit scores and finding out their scores to gauge their ability to avail loans and credit cards. However, most of them are still unable to understand if their credit score is actually good enough to guarantee a secure financial life. It is important to understand the implication of credit scores to know the various options you can choose from if faced with a financial crisis. The credit … (more) May 25, 2011

  • Utahans take up a challenge and earn better scores

    by Brian Anderson
    Utahans take up a challenge and earn better scores

    Hundreds of Utahans took up a challenge to see if they could better their credit scores and surprisingly at least a handful of them managed to gain over 100 points or more within a few weeks’ time. The results are being finalized by the sponsors including Utah Saves, Republic Mortgage, and Deseret Media Companies and it would be announced very soon. More than 120 points was boosted on the FICO score of the winner. These themes were not meant only … (more) May 18, 2011

  • On deck capital helps small businesses build their creditworthiness

    by Brian Anderson
    On deck capital helps small businesses build their creditworthiness

    There are a lot of start-up ventures and companies that receive angel funding as well as venture capital, but there are a whole lot of small businesses that are essentially the backbone of an economy and play a huge role in the success of the economy, but are never on the radar of the either the angels or the VCs. These are small businesses such as retailers, florists, restaurants, salons, that are not essentially high-end startups such as Facebook or … (more) May 12, 2011

  • Home insurance costs generally go up due to poor credit scores

    by Brian Anderson
    Home insurance costs generally go up due to poor credit scores

    Credit scores can play a huge role in determining the cost of home insurance and most Ontario consumers are blissfully unaware of this fact. When this comes to light, they wish to ban the usage of credit scores in home insurance much in the same way that credit scores are banned in auto insurance. Bryan Yetman, Chairman, Insurance Brokers Association of Ontario states that this is about consistency. If credit scores are not used for one product, he feels that … (more) May 4, 2011