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


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How You Can Raise Your Credit Score If Itís Low

So youíre one of the 220 million Americans who have bad credit Ė resulting in a low credit score that has rendered it nearly impossible to secure a loan at decent interest rate you can afford. But donít despair. There is hope for repairing the damage and restoring your credit.

Credit reports are used in a variety of ways and by a number of different agencies. Credit card companies, utility companies and financial institutions all use a personís credit report to determine financial stability. Even employers are jumping on the credit-reporting bandwagon, using a potential employeeís credit report as part of the hiring process.

The recent recession also has created quite a credit crunch for those with bad credit histories. As part of new financial legislation, banks and other financial institutions were required to write off record numbers of debt in order to comply with the law. Unhappy with losing out on the ability to collect on that debt, financial institutions have gotten a lot pickier about to whom they lend money, closely scrutinizing credit reports and scores prior to agreeing to do business with a particular lender.

So what do you do if you suspect your credit score is keeping you from excelling financially?

The first thing to do is to request a copy of your credit report from all three credit reporting agencies. Equifax, Experian and TransUnion are the three credit-reporting agencies that compile financial histories on consumers in the United States. The Fair Credit Reporting Act indicates that every consumer is entitled to one free credit report annually. You can opt to receive one from each of the credit reporting agencies, or from just one of them. Because each agency collects data differently, it may be wise to request a report from each of the three agencies.

Once you have your credit reports, pore over them carefully, checking for any discrepancies or outright errors in your financial history. A common reason for misinformation on a credit report is that another individual shares a name similar to yours, and their information has accidentally found its way onto your report. Another reason for errors can be identity theft. If there are accounts listed on your report which you do not hold, it is important to dispute them with the credit reporting agency, and immediately request that a fraud alert be placed on the accounts in question.

If there are no mistakes on your report and you simply have bad credit due to past financial indiscretions, there are ways to help repair the damage.

  • Pay bills on time. Failure to pay on time or at all can have a serious negative impact on your credit report. It is best to make small payments rather than to forego them at all. Complete avoidance can result in a collection agency taking over your account, which is detrimental to your credit score.
  • Low balances are best. Many consumers erroneously assume that racking up huge sums on credit cards is the best way to ďbuildĒ credit. The exact opposite is true. If you already are struggling with paying off debt, running up large amounts on credit is never a good idea.
  • Donít apply for new credit. Every time a consumer applies for a new credit card, their credit report takes a ďhitĒ and their credit score lowers a bit. It also is wise not to close credit accounts which you arenít using for the same reason. It is better to leave them open without balances than to close them.

Lastly, do not be afraid to seek out the help of a reputable consumer credit counseling service, which may be able to help you reduce your payments so that you can begin to pay off all debt owed, rather than simply moving it around. 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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