Christopher Wright asked: Each time you apply for credit, whether for a car, credit card, or whatever, an inquiry is left on your file. This tells potential creditors who and where you have been applying for credit with. Too many inquires within a certain period of time is bad for your score. It becomes even [...]
Anthony O. Ugbodaga asked: What exact information do you have in your credit report? Generally, your credit report comprises of four types of information.1. Your Identification: This contains information on means of identifying you. The following information it contains are listed below.. Full Name . Year of Birth . Previous and present addresses . Social [...]
Helen Hecker asked: Assuming you already have a copy of your annual credit report you may have already found some errors that should be removed. Errors should always be a big concern because they can and probably have affected your credit score, also called a FICO. You can repair your credit with a little bit [...]
Hector Milla asked: There are three credit reporting bureaus which although do similar business, may come up with varying reports. Different individuals and professionals work in the firms and thus it’s expected that their conclusions even on similar things is different. With this in mind, a consumer would therefore be better off if he considered [...]
Matt Douglas asked: If you have a tax lien on your credit report, you should take immediate action to remove it. This is a very bad mark and will lower your score considerably.The first step is to have the bureaus validate the lien. You need to send each bureau a dispute letter. Once your letter [...]
Tiffany Dow asked: As the economy continues to go through major upheaval, banks are becoming increasingly reluctant to loan money – even to each other! The lending boom in which banks and lending institutions loaned money indiscriminately has led to a huge rise in home foreclosures, financial upheaval, and near disaster.The $700 billion bailout has [...]
Jared Wright asked: Taking a peek into your credit bureau report is like looking into your school evaluation. It holds pertinent information about your financial activities. The facts contained on your credit report are provided by creditors. The credit report also includes public records. This document gives financial agencies or institutions a picture of how [...]
Adam Tijerina asked: Due to the recent credit crisis and housing collapse leading rules have changed dramatically. Despite historically low mortgage rates, most people cannot qualify for them without a really good credit score. This is why it is very important to get your free credit scores and know where you stand and know where [...]
Herschel Bentley asked: Historically, the function of the Credit Bureaus first began as collection agencies and they only gathered negative information. Then Fair Isaac & Company developed the FICO scoring system to improve the overall credit reporting system. Today, the bureaus report both positive and negative credit history to provide a risk-grade rating that estimates [...]
Tim Gorman asked: Lenders want to see a track record of debts owed and duly repaid. If you do not have a traditional credit record that shows payments made on credit card purchases, a car loan, or a student loan, it is still possible to establish a credit history. Many lenders have been griping that [...]