March 23, 2018

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How Often Should You Check Your Credit Report?

Why Is A Good Credit Score Helpful?

What Kind Of Information Will Your Credit Report Contain?

What Can You Do If Your Credit Report Is Wrong?

How You Can Raise Your Credit Score If Itís Low


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Why Is A Good Credit Score Helpful?

A consumerís credit history is the barometer for their financial health.

There was a time when good credit was only important in securing a loan for a large purchase, such as a house. Nowadays, a personís credit history affects every aspect of their life, from jobs to rates on car insurance. Consumers with poor credit will have a lot of doors closed to them.

There are three major credit reporting agencies in the United States: Equifax, Experian and TransUnion. Each agency compiles a credit report on consumers based on their financial histories. Financial histories include bank accounts, credit card accounts, auto loans and even bankruptcies and foreclosures. Any time a consumer has taken out credit, it is included in their report.

Credit reporting agencies use that information to assign a credit score to consumers. The score is ascertained through calculating a mathematical algorithm, which extracts data from the report to generate a three-digit number. Scores can range from 300 to 850. Consumers who have a credit score of over 700 are considered financially stable and desirable individuals with whom to conduct business. Individuals with scores under 500 generally do not secure new loans or credit, and can be subjected to much higher interest rates than their financially-stable counterparts.

There are many reasons why a good credit score is helpful.

In addition to resumes and interviews, employers also have begun to give credence to potential hiresí credit histories. In a recent nationwide survey, 69 percent of employers admitted to using an applicantís credit report as part of the hiring process. The Fair Credit Reporting Act requires any employer who wishes to view a potential employeeís credit report to first seek permission from the person. Persons with higher credit scores are seen as more honest, hardworking employees and employers will lean toward hiring someone with an excellent credit score over someone with a poor one.

Credit card companies also use a consumerís credit score to determine whether they wish to extend credit to that individual. Consumers who have excellent reports can expect to receive unsolicited offers from credit card companies quite frequently. Credit card companies want to do business with those who are financial stable, offering lower interest rates and other incentives to encourage them to open accounts.

Mortgage lenders also tend to provide better interest rates and loan terms for those with a good credit score. When applying for a mortgage, most brokers prefer consumers whose credit score is at 700 or higher. These are borrowers who have solid financial lending histories and are seen as very low risk for defaulting on a mortgage. Those with scores under 700 can find themselves subject to higher interest rates, which in turn results in larger monthly payments.

Utility companies also determine whether to provide service based on a personís credit score. Most utilities are paid for after they have been used by the consumer, making this a very risky venture for the utility company if a person has bad credit. Utilities have little recourse other than stopping service if a person fails to pay for the gas, electricity, water, phone or cable services they already have used. If a consumer has a bad credit score, it can affect whether a utility company chooses to provide service. has reviewed and ranked the best credit repair services available today.

Which Credit Report Does Synchrony Bank Pull

Though you may not have heard of Synchrony Bank, there is a very good chance that you've interacted with the company in the past. Synchrony Bank is a major issuer for store-branded credit cards offered by companies such as American Eagle, The Gap, Banana ...

Published:  Wed, 21 Mar 2018 23:19:00 GMT

Experian's new online dispute center helps consumers correct issues with their credit reports easily and conveniently

COSTA MESA, Calif., March 22, 2018 /PRNewswire/ -- For consumers in today's digital world, data accuracy and protection are top of mind. The newly enhanced Experian dispute center is a powerful, convenient and easy-to-use tool designed to help consumers ...

Published:  Thu, 22 Mar 2018 03:09:00 GMT

Credit insurance market 11 company profiles and competitive landscape analysis report just published

The report scrutinizes the market by an exhaustive analysis on market dynamics, market size, current trends, issues, challenges, competition analysis, and companies involved. Download Free Research Paper for Technical Details @ ...

Published:  Thu, 22 Mar 2018 04:59:00 GMT

How to Negotiate a Clean Credit Report

A late payment on a credit bill or other debt such as a mortgage can have a significant impact on your credit score. And the higher your credit score is to begin with, the more it can fall after a late payment. Paying your bills on time is the best way to ...

Published:  Thu, 22 Feb 2018 08:28:35 GMT

'Free' credit report scam

Joel Hesch spent 15 years as an attorney in the Fraud Section of the Department of Justice helping administer the national whistleblower reward program. He is the author of "Whistleblowing: A Guide to Government Reward Programs: How to Collect Millions of ...

Published:  Tue, 20 Feb 2018 17:27:47 GMT


DEAR BRUCE: I have two collections on my credit report from the hospital. The amounts are $57 and $1,462. I wasn't even aware of these charges until I ordered my credit report. I went ahead and paid the $57 bill and contacted Equifax to have them remove it.

Published:  Sun, 28 Jan 2018 07:20:00 GMT

Credit report series scheduled at library

The Wyomissing Public Library will offer a three-part series, "Solving the Mystery of Credit Reports," beginning Tuesday at 6 p.m. The series, which will continue on Feb. 27 and conclude on March 6, is free and open to the public. Presented by Visions ...

Published:  Sun, 18 Feb 2018 16:01:00 GMT

Business Report: Credit card debt across America

The average credit card balance in America is more than $6,300, according to a new report by the Experian credit agency. The average credit score is 675. The state with the highest average credit score is Minnesota, with an average rating of 709.

Published:  Mon, 15 Jan 2018 11:44:56 GMT

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