Credit Score Archive for March, 2010

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

  by Sally Maison
  

  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

• Have you been victimized by a Fraudulent Credit Repair Company?

  by Brian Anderson

  Are you depressed because of your financial status? Did you ever consider asking a credit repair company to mediate in fixing your credit history, as part of a credit score advice? By some play of bad luck, did you encounter a credit score advice which turned out to be a scam and suddenly realized that you spent thousands of dollars without actually achieving the results you are expecting? Many people have gone that way before you did so do not … (more) March 9, 2010

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

  by Sally Maison
  

  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
  

  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

• Understanding Credit Scores and Credit Access

  by George Hauser

  It takes credit score tips to better gain an insight on how these scores work. Moreover, it is not an overnight task to be able to achieve better scores. What is it all about these scores anyway that people strive hard in developing good performance as borrowers of credit? How important are these scores in advancing a better and brighter financial future? The disputes are greatly recognized and every American knows that credit is part and parcel to the survival … (more) March 5, 2010

• Understanding Credit Scores and Credit Access

  by George Hauser

  It takes credit score tips to better gain an insight on how these scores work. Moreover, it is not an overnight task to be able to achieve better scores. What is it all about these scores anyway that people strive hard in developing good performance as borrowers of credit? How important are these scores in advancing a better and brighter financial future? The disputes are greatly recognized and every American knows that credit is part and parcel to the survival … (more) March 5, 2010

• The Hazardous Effects of Identity Theft on Credit Scores

  by Sally Maison
  

  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
  

  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
  

  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