Credit Questions & Answers
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  • Credit Questions & Answers

  • Q: How do I know if I have got negative credit scores?

    If you have paid the previous bill after the due date it brings a negative credit score, so also if there are any outstanding payments brings a negative credit score. Opening of a number of new accounts also bring out a negative credit score. On the other hand a timely payment … (more) March 25, 2010

  • Q: What is credit Score?

    Credit score is a way wherein you are judged by the way you repay your debt, the time period taken etc.  It is a means by which the lenders risk their money by lending you huge amount as way of loans. The credit score helps them choose the client according to the … (more) March 25, 2010

  • Q: Are there ways by which I can self-monitor my credits?

    You need to have a regular viewing of your credit reports from the three main credit companies i.e. the Trans Union, Equifax and Experian which give you free online report. You can compare the three reports so that you have a rough idea on what your credit reports are. These … (more) March 22, 2010

  • Q: What is the use of a credit monitoring system or service?

    There are a few credit monitoring services offering their service for a few dollars every year. They actually help monitor any irregularities in your credit report or if there has been any unusual transaction carried your credit. This service has come handy especially with the number of fraud cases that … (more) March 22, 2010

  • Q: What is the importance of credit report?

    Your credit report is one of the most important documents as it list down all your personal and financial information like Social Security Code, address, date of birth, list of your mortgages, credit cards and loans. It reflects whether you have been honoring your dues or you are not. It … (more) March 20, 2010

  • Q: What is the consolidation of credit cards and debit cards?

    Basically the process of settlement of loans through debt consolidation is easy and here most loans are usually of higher amounts. Thus consolidating them is the ideal way to avoid too many debts and get rid of unnecessary confusion regarding payment options. These days there one can see a drastic … (more) March 16, 2010

  • Q: What is credit card debt and how to manage it?

    There are various ways of managing credit card debts and even consolidation helps to settle a lot of debts, loans, credit card bills and various other options. It has been commonly used since it is a much faster process and helps in saving time and money. March 16, 2010

  • Q: What will your course of action be in case you get to know from your creditor or by carefully scrutinizing your credit report that somebody has stolen your identity?

    The first and foremost thing that should be done is to report the identity theft crime to the authorities and attain a copy of your case number. Many of the credit card companies, monetary institutions as well as others will definitely ask you for this number in order to ensure … (more) March 12, 2010

  • Q: How can I avoid poor credit scores?

    The poor credit scores can be avoided by paying the bills and debts on time. Try to make smaller payments when feasible because they don’t require much capital and help to increase credit scores almost instantly. Apart from this a regular check on the credit reports should be maintained to … (more) March 9, 2010

  • Q: How to repair credit scores instantly?

    Some of the easiest ways of repairing the credit scores are through fixing errors on the credit reports. If the credit scores reflect on the report due to data errors or manual errors then it can be rectified. This would happen if the bureau has been at fault then under … (more) March 9, 2010