Credit Score Archive for April, 2010

• Credit Score Advice: Don’ let you credit cards affect your credit score

  by Sally Maison

  If you are planning to make an investment, you need to go to a creditor. Credit is the term used to describe the process where a borrower borrows some money from a lender to buy goods and services. The borrower also promises to pay the money back in periodic instalment at an interest rate decided upon previously. When you apply for a loan or a credit, the creditor will try and find out the kind of person you are financially. … (more) April 29, 2010

• Credit Score – Clearing The Air

  by Sally Maison
  

  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

• What else can Make Your Credit Score Low?

  by George Hauser

  The presence of credit score tips simply means that you have a partner in managing credit, or improving credit scores for that matter. Much has been said about what to do and what not to do when it comes to gaining and maintaining good scores. Is there anything else that can downgrade your score? One of the few mistakes that people do is closing accounts, especially those that have made a good history of handling credit. Hoping that delinquencies will … (more) April 27, 2010

• Knowing Your Credit Scores Helps You Boost It Higher

  by Sally Maison
  

  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
  

  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
  

  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
  

  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

• Are You Creditworthy? – Creditworthiness and Your Credit Score Tips

  by George Hauser

  Creditworthiness is a creditor’s measure of an individual’s or company’s ability to meet debt obligations. A lot of creditors check on a person’s ability to pay his liabilities thru checking on his credit score. A credit score is a three digit number that ranges from 300 to 850. To other people it could just be an ordinary number but to lenders, creditors, mortgagors and most importantly to those who plan to secure a credit, this number means a lot. Credit … (more) April 20, 2010

• Credit Score Advice: Don’t let credit enquiries affect your credit score

  by Brian Anderson

  Everybody has heard the terms credit, credit report and credit score. In these times of economic hardship, these terms are being thrown about. However, few actually know what credit is and what does credit report have or what credit score denotes. Credit is when a person wants to make an investment and goes to a creditor or a lender. This creditor or lender must now take the decision regarding the loan. To take the decision, the creditor will inquire … (more) April 19, 2010

• FTC monitors on Free credit report websites

  by Sally Maison
  

  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