How Many Credit Cards Should I Use?

How Many Credit Cards Should I Use? Credit Cards by John Ulzheimer Share Share Email The amount you owe represents some 30 percent of your credit score points, which is the second largest contributor to your credit score. This category not only includes the total credit utilization (revolving and installment), but also the number of […]

Experian FICO Scores Available to Consumers Again. Should You Buy?

Experian FICO Scores Available to Consumers Again. Should You Buy? Credit Report by John Ulzheimer Share Share Email It’s official. myFICO.com, the consumer division of Fair Isaac, is now making available your Experian credit report and FICO score based on Experian data. FICO has quietly released the Experian/FICO report/score combo on their website, meaning the […]

Does Paying Off A Collection Remove It From My Credit Report?

Does Paying Off A Collection Remove It From My Credit Report? Bankruptcy by John Ulzheimer Share Share Email I recently received this question from a reader (paraphrased): Q: My husband has a $10 collection on two of his credit reports.  His FICO scores on those credit reports are over 100 points lower than his FICO […]

Am I More At Risk for Identity Fraud As a Social Media User?

Am I More At Risk for Identity Fraud As a Social Media User? Civil Penalty by John Ulzheimer Share Share Email According to a report on identity fraud conducted by Javelin Strategy and Research, identity fraud increased by 13 percent or 11.6 million adults from 2010 to 2011.  The report did not attribute the increase […]

What’s The Difference Between A Credit Report and A Credit File?

What’s The Difference Between A Credit Report and A Credit File? Credit Cards by John Ulzheimer Share Share Email “John, I see the terms credit report and credit file used all the time.  Aren’t they the same thing? And if they are the same thing, why are there two terms?”

Is It Better to Rent or Buy a House?

Is It Better to Rent or Buy a House? Credit Report by John Ulzheimer Share Share Email During the recession, home ownership went from being the “American Dream” to the American Nightmare especially for those who lost their jobs and/or their homes. More Americans continued to rent, became renters because they lost their home, or […]

Can Unpaid Traffic Tickets or Library Fines Hurt My Credit?

Can Unpaid Traffic Tickets or Library Fines Hurt My Credit? Auto Loans by John Ulzheimer Share Share Email There’s been some recent reporting that traffic tickets/fines and/or fines for running toll gates will end up on your credit reports.  That is possible, but not as you may expect.  Traffic tickets or library fines are not […]

How Much Do You Think You Know About Credit Scores?

How Much Do You Think You Know About Credit Scores? Credit Monitoring by John Ulzheimer Share Share Email VantageScore Solutions and the Consumer Federation of America recently conducted a study of over 1,000 adults regarding their knowledge of credit scores.  More than half knew about credit scores.  Most knew the key ways to raise or […]

5 Components You’ll Find in Your Credit Report

5 Components You’ll Find in Your Credit Report Credit Report by Maria Shahid Share Share Email When you get a credit report, you’ll find tons of information about your borrowing habits that can be difficult to understand. The process of credit scoring and how your credit score is determined is somewhat unknown to the public. […]

Are you a Party to the Capital One Settlement?

Are you a Party to the Capital One Settlement? Credit Cards by John Ulzheimer Share Share Email Since it was formed a year ago in July 2011, the Consumer Financial Protection Bureau (CFPB) has issued the first violation to Capital One. This bureau’s purpose is to protect consumers against unfair, deceptive, or abusive practices in […]