Are Utilities Reported to The Credit Bureaus? Not yet, but soon?
Are Utilities Reported to The Credit Bureaus? Not yet, but soon? Credit Cards by John Ulzheimer Share Share Email On September 9th 2012 a bill called the Credit Access and Inclusion Act (HR 6363) was introduced by Representative Jim Renacci from Ohio. The bill suggests that public utilities should report account information to the credit […]
Credit Card Issuers Using Questionable Legal Tactics to Collect Credit Card Debt
Credit Card Issuers Using Questionable Legal Tactics to Collect Credit Card Debt Civil Penalty by John Ulzheimer Share Share Email It was recently reported by the New York Times that various credit card companies are using nefarious tactics to recoup money lost to defaulted credit card balances, including falsifying documents and using incomplete records and […]
Can Your Thin Credit Report Be Scored?
Can Your Thin Credit Report Be Scored? Auto Loans by John Ulzheimer Share Share Email Every industry has its own unique terminology and the credit industry is no exception. One of the common terms used to describe credit reports is “thin,” which is a description of the amount of information housed by the report. What […]
How Can I Fix My Credit Scores?
How Can I Fix My Credit Scores? Credit Cards by John Ulzheimer Share Share Email I received the following question from a reader late last week and, frankly, couldn’t wait to write an article responding since it’s such a great question. “John, I am in the middle of refinancing my home loan and I’m in […]
3 Reasons Not to Skip Over Your 3-Bureau Credit Report
3 Reasons Not to Skip Over Your 3-Bureau Credit Report Credit for Beginners by David B. Coulter Share Share Email While most borrowers are concerned about the single number that measures their credit risk — the credit score that ranges from 300 to 850 — it’s worth your while to obtain your 3-bureau credit report […]
How Long Does It Take To Correct Credit Report Errors?
How Long Does It Take To Correct Credit Report Errors? Credit Monitoring by John Ulzheimer Share Share Email According to the Fair Credit Reporting Act the credit reporting agencies must employ reasonable procedures designed to ensure maximum possible accuracy of your credit files. That’s the standard. It’s not to maintain extraordinary procedures guaranteeing 100% accurate […]
What’s an “Open” Account and how are they scored?
What’s an “Open” Account and how are they scored? Credit Cards by John Ulzheimer Share Share Email Open, closed, usable, not usable…an Open account simply means it’s not “closed”, right? Nope, it sure doesn’t. An Open account is a specifically designated account type rather than the status of a revolving credit card account.
FICO vs. VantageScore: A Look at the Different Types of Credit Scores
FICO vs. VantageScore: A Look at the Different Types of Credit Scores Credit Monitoring by David B. Coulter Share Share Email The US lives by two credit scoring models — FICO and VantageScore. The latter was created in 2006 by Experian, Equifax, and TransUnion, the three major credit reporting bureaus. FICO, created by the analytics […]
5 Ways to Increase Your Credit Limit in a Short Amount of Time
5 Ways to Increase Your Credit Limit in a Short Amount of Time Credit Cards by Maria Shahid Share Share Email The most obvious benefit of a higher credit limit is increased spending power. With access to more credit, you can be more flexible in your spending and may even earn additional rewards like […]
Should I get my tax refund on a prepaid debit card?
Should I get my tax refund on a prepaid debit card? Credit Cards by John Ulzheimer Share Share Email For those of you fortunate enough to actually get money BACK from the government this year, you’ve got some choices to make. Primarily, you’re going to have to decide how you want to receive your money. […]