Credit Scoring Rules Amendments Include More Information Equifax, Experian and Trans Union, the nation’s 3 credit reporting giants have agreed to some key policy changes. Under pressure from New York Attorney General Eric Snederman’s lawsuit the credit reporting agencies have agreed to a number of important changes. Trained employees will be required to review the documentation even […]
Mandatory Credit Card Arbitration Mandatory Credit Card Arbitration of any claim a consumer may have against the issuer of the card is required by the contract the consumer entered into. This contract containing mandatory credit card arbitration was drawn up by the issuer of the card. It is reasonable to expect that the terms will be favorable […]
FICO “Balance and Burden” Key This Essay is aimed at the more advanced Student of Credit Repair. Those who are just beginning to study credit repair can benefit from reading also. Then file away to come back to it later. In the familiar pie chart that breaks down the importance and weight of the various […]
Annualcreditreport.com Your Free Credit Report All consumers are entitled to a free credit report each year from each of the 3 major credit reporting agencies. These credit reporting powerhouses are: Poster, “Hold on to Your Social Security Card” – NARA – 514504 (Photo credit: Wikipedia) Equifax Experian Trans Union The process involves a screening procedure […]
Credit Reporting Judgments and Liens Credit Rules A new day has dawned. New credit reporting rules kicked in on July 1, 2017 creating drastic judgments and liens credit rules. From this day forward the reporting of 98 per cent of civil judgments and 50 per cent of tax liens will be forbidden. The presence of judgments or tax liens has always […]
Trended Data Credit Scores Credit scores are based on a snapshot of the data contained in your credit file at a given point in time. If you habitually carry a high balance close to the credit limit you can pay it off just before the statement closes for the month. The report submitted by the lender to […]
Credit reports are your financial scorecard. Information vital to lenders is rated and scored by FICO to determine your score. Understanding credit reports will help you score high.
FICO rules the roost of credit scoring. It is used by 90% of lenders. Vantage scores are good for educating consumers. Vantage scores are free and readily available on credit monitoring sites like CreditKarma.com. FICO credit scores, are powered by more analytics and are trusted by large, leading lenders like Fannie Mae and Freddie Mac. […]