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 […]
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 […]
How Long Does It Take to Get Approved for a Credit Card?
How Long Does It Take to Get Approved for a Credit Card? Credit Cards by Maria Shahid Share Share Email Credit cards are a virtual necessity of contemporary life. Without them, it’s difficult to rent a car, purchase an airline ticket or shop online. Yes, you can use a debit card for these purposes, but […]
Does Opting Out of Credit Card Offers Really Increase My Credit Score 10-20 Points?
Does Opting Out of Credit Card Offers Really Increase My Credit Score 10-20 Points? Credit Cards by John Ulzheimer Share Share Email I’m writing this blog as quickly as I can. In the past 30 minutes I’ve gotten two questions from two completely different people asking me the exact same question, almost verbatim. That means […]
How Does Getting Married Affect My Credit?
How Does Getting Married Affect My Credit? Credit Cards by Maria Shahid Share Share Email T’is the season of love, or is it? The summer months from May to August fall under the wedding season. Unfortunately, with the arrival of COVID-19 many couples are having to postpone their wedding indefinitely, or do smaller and more […]
If my home loan is underwater, does that hurt my credit?
If my home loan is underwater, does that hurt my credit? Credit Report by John Ulzheimer Share Share Email Thankfully, this is pure myth. The short answer is – the value of your home does not impact your credit, but your payment history does. The mortgage information included on your credit report includes: the original […]
How Does the Mortgage Process Work?
How Does the Mortgage Process Work? Credit for Beginners by David B. Coulter Share Share Email The vast majority of home buyers purchase their dream home with financing, and that means applying for a mortgage. Don’t believe everything you’ve been warned about, however. The loan application process is more user-friendly, automated and transparent than many […]
Does Paying a Collection Reset the 7 Year Credit Reporting Clock?
Does Paying a Collection Reset the 7 Year Credit Reporting Clock? Credit Monitoring by John Ulzheimer Share Share Email Q: John, I have a collection from an old cable bill that’s 3 years old. From reading your articles I know I’ll have to live with it on my credit reports for 4 more years. Recently […]
How Does Tax Fraud Happen?
How Does Tax Fraud Happen? Credit Cards by John Ulzheimer Share Share Email An audit of the Internal Revenue service regarding fraudulent tax returns was requested by U.S. Senator Bill Nelson, a Democrat from Florida. The investigation was conducted by the Treasury Department’s Inspector General, J. Russell George. According to this investigation, more than $5 […]
How Often Does My Credit Score Change?
How Often Does My Credit Score Change? Auto Loans by John Ulzheimer Share Share Email The frequency with which your credit score changes is a product of the frequency of the changes in your credit report. Because your credit score is based upon the information in your credit report, updates to your credit report can […]