Credit Score Archive for May, 2010

• Credit Scores may improve with new laws

  by Sally Maison
  

  The passing of the Credit CARD Act of 2009 has put certain restriction on the management, marketing and use of credit cards. The younger section of society finds it harder to build credit with the new regulations. In order to maintain a more accurate credit report and to ensure steady development of credit scores, consumers are required to maintain credit to an acceptable level so as to receive loans from banks, money lenders, for employment and other purchases. Consumers in … (more) May 14, 2010

• Companies Dread Performance Reviews

  by Sally Maison
  

  Experts now say the best way to sabotage a company and its employees is by giving them a copy of the annual performance review. The review has been accused of destroying employee and employer relationship and cause disharmony at work places in the past. Performance reviews are merely a method to control employees. Most companies opt for this review as a mode of evaluation employees but fail to see the flaws in the review system. “It is the most pretentious, … (more) May 12, 2010

• The impact of credit scores on your chances of getting a loan

  by Sally Maison
  

  Earlier money lenders depended upon their own considerations before lending money to the customers, but now, lenders have an easier way because of the available credit records of customers with the help of CIBIL. Be it your auto loans, home loans, credit cards or personal loans, the rates given to you would be based on your credit history. CIBIL has already expanded its wings in this space having a large number of people holding their credit reports. It is now … (more) May 10, 2010

• Losing your credit score or losing your mind?

  by Sally Maison
  

  When people ask me what my credit score is, it usually makes me wonder why they do? And if your credit score needs to be improved, it usually means you have a very low credit score. Firstly, it is important to know the cause that made your credit score low. Some people cant handle credits so they prefer not accessing it in the first place. This id not about the people who couldn’t pay up their medical bills, or those … (more) May 8, 2010

• Credit scores falling? Recent news on increasing it

  by Sally Maison
  

  The days when banks blankly considered the applications of people to provide them with a loan even if the information was false, are gone.  The required rate to receive a good rate on mortgage was over six hundred, a few months before 2009.  Now, the score hiked up to 720 or more making it the ideal score. Anybody looking forward to get a credit card or a home loan must have this desired number at any cost to get the … (more) May 6, 2010

• Insurance Rates Up – Check Your Credit Score

  by Sally Maison
  

  Many people faced up a double price on their premiums in the recently issued bills. And the cause was unknown. Dave Fredrick’s premium for home insurance had to be renewed and when it came for renewal he had a raised eyebrow of thoughts. The rate on his Blenheim was double the rate he expected so he decided to find out the cause.  What he found out surprised him. He was like one of the Canadians who lost their jobs due … (more) May 4, 2010

• Credit Scores Found To Double Home Insurance Rates

  by Sally Maison
  

  Most insurance companies that need help in assessing risk and determination of premium costs in Canada are now turning towards their credit scores. Many people saw a rise in the premiums after the insurance companies decided to consider the credit scores said the market place, CBC-TV. Since many other insurance companies took this step of determining premiums so as to calibrate risk, so did the cooperators being the largest Canadian insurance company. They said that the only way to predict … (more) May 2, 2010