Category Archives: Credit

Consumers Need to Keep a Close Eye on All 3 Credit Reports to Avoid Errors

(Source: Loansafe.org) – A recent study conducted by the FTC found that 5% of consumers had errors on at least one of their three credit reports. The three major U.S. credit bureaus include; Equifax, Experian, and Transunion. These errors can lead to serious financial hardships and cause consumers to fail underwriting requirements when looking to […]

Consumers with Credit Scores Below 620 Fell by 1 Million in the 3rd Quarter of 2012

(Source: Equifax) – ATLANTA, — The number of consumers with subprime credit scores is shrinking across the country, according to new data from Equifax. The total number of consumers with Equifax credit scores below 620 fell 2.1%, or by about 1 million consumers, in the third quarter of 2012 versus the third quarter of 2011.  […]

FTC Report Shows That 5% of Consumers Had Errors on Their Credit Report Profiles

(Source: FTC) – A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance.

How often can I check credit scores without a penalty?

Are you concerned about your credit rating and unsure if checking it repeatedly will affect your score? You’re not alone. Many people have possibly heard the same things that you have – that repeated credit checks will lower your credit scores. This is true, but do not become a worry wart over your credit and […]

How to Monitor My FICO Score

Your FICO score, named after Fair, Isaac and Company (the business that is known for developing the most popular credit scoring equations), is a summary of your credit history. This summary includes reports from the three major reporting bureaus: Equifax, TransUnion, and Experian. Your FICO score indicates to potential lenders how much of a risk […]

How often can I check my credit score without a penalty?

Are you concerned about your credit rating and unsure if checking it repeatedly will affect your score? You’re not alone. Many people have possibly heard the same things that you have – that repeated credit checks will lower your credit scores. There are two distinct differences in the types of credit checks that will determine […]

Do apartment credit checks lower your credit score?

Question: I have been searching for apartments and each one is asking for a separate application with a credit check as well. Thus far, I have applied for three and am worried about how this may affect my credit. Will these credit checks lower my credit score? Answer: The answer to that question depends on […]

Moody’s Lowers Rating for State System in Pennsylvania

(Source: Bill Schackner Pittsburgh Post-Gazette (MCT) — Moody’s Investors Service has downgraded the State System of Higher Education’s long-term credit rating, citing challenges from declining enrollment and slumping state support to its limited ability to curb labor costs and its escalating construction debt.

Real Estate Q&A: How to Repair Credit After Foreclosure

(Source: By Gary M. Singer, Sun Sentinel (MCT) – People often ask me what they can do to rebuild their credit and get their financial house in order after the foreclosure or short sale is over. But before you start worrying about your credit score — which just gives you the chance to take on […]