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.

What Can You Do If Your Credit Report Is Wrong?

According to a recent report issued by the Federal Trade Commission, 26 percent of all Americans have ďpotentially materialĒ errors on their credit reports. The findings are alarming when one considers the fact that nowadays, a credit report affects everything from securing a good job to a low interest rate on a car loan.

Credit reports are compiled by the three major credit reporting agencies: Equifax, Experian and TransUnion. The three agencies use financial history on consumers to compile a report. The report contains every account ever held by the consumer, whether they paid on time or defaulted, as well as employment and residential histories.

The agencies then use the report to generate a credit score for each consumer. A credit score is a three-digit number that is generated using a mathematical algorithm which pulls data from a consumerís credit report. Credit scores range from 300 to 850 and are intended to predict the financial risk associated with granting credit to that particular consumer. Credit scores over 700 indicate the consumer is in good financial standing and a low-risk for failure to repay debt.

Consumers who generate scores in the 600-700 range generally have missed a few payments here or there, but are not consummate loan defaulters. While they are seen as a slightly higher risk category, they are not totally excluded by creditors. Individuals who have a score lower than 600 generally are considered high risk and may have difficulty securing loans and utility services.

Because a good credit report affects so many aspects of a personís life, it is best to check it regularly to ensure there are no mistakes which could affect your ability to secure loans and services.

The information revealed by the FTCís report is alarming in that 10 million Americans likely are paying more in interest on credit cards and loans due to faulty reporting. This is why it is vital that all consumers check their credit reports at least once a year.

So what do you do if you review your credit report and discover errors?

The first step to take is to file a formal dispute with the credit reporting agency which included the error on your report. Each agency provides information on how to dispute information at the time it issues a report to the consumer. Reports can be filed via regular U.S. Mail or through an online form on each of the credit reporting agenciesí websites.

Once a dispute is filed, the credit reporting agency investigates by contacting the creditor which provided the information. The creditor then reviews their records to determine if they made a mistake in their original reporting to the credit reporting agency. Once their investigation is complete, they report their findings back to the credit reporting agency. The consumer then is notified if their dispute has been validated and resolved, or if the creditor has determined their original information is correct and refuses to alter it.

In the event a creditor refuses to change information which the consumer believes to be false, re-disputes can be filed; however, unless the consumer provides supporting information to validate their claim and prove the information was incorrect, the same outcome is likely. Truly disgruntled consumers who feel they arenít getting anywhere with a creditor or the credit reporting agencies have the option of filing a complaint under the guidelines of the Fair Credit Reporting Act, which is administered by the FTC.

If all this sounds like a long and manual process, there are companies who will clear up your credit report for you. 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

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