What Credit Card Balance Will Show Up On My Credit Report?
What Credit Card Balance Will Show Up On My Credit Report? Credit Cards by John Ulzheimer Share Share Email Q: John, I was reading a couple of your articles and I have a question.I just opened a credit card with a pretty low credit limit, $2,000. I know I need low credit card utilization or […]
If I am late on only one payment, will it hurt my credit?
If I am late on only one payment, will it hurt my credit? Civil Penalty by John Ulzheimer Share Share Email One isolated late payment can impact your credit, but it depends upon how late you were on the payment, which credit score is used and just how late you were. Some scores will give […]
If I Pay or Settle a Collection Will it Improve My Credit Scores? A New Answer To An Old Question!
If I Pay or Settle a Collection Will it Improve My Credit Scores? A New Answer To An Old Question! Civil Penalty by John Ulzheimer Share Share Email A collection account results from an unpaid bill that is usually past due 150 to 180 days (5 to 6 months). When the creditor determines that the […]
CFPB will Supervise Credit Reporting Agencies
CFPB will Supervise Credit Reporting Agencies Credit Cards by John Ulzheimer Share Share Email The Consumer Financial Protection Bureau (CFPB) was formed in July 2010. Since this time it has been investigating many institutions including banks, consumer credit reporting agencies, credit card issuers, student loan originators, payday lenders, and mortgage lenders. Basically the Consumer Financial […]
Will My Scores Go Up Considerably If I Pay Off My Debt?
Will My Scores Go Up Considerably If I Pay Off My Debt? Auto Loans by John Ulzheimer Share Share Email “John, I just sold my house and thankfully I got enough to cover both of my mortgages, a first and a HELOC. When my credit reports are updated to show zero balances on those loans […]
Will Changing Banks Lower My Credit Scores?
Will Changing Banks Lower My Credit Scores? Auto Loans by John Ulzheimer Share Share Email With millions of consumers switching banks in fourth quarter 2011 (26 percent because of high fees), you may be concerned what impact moving banks may have on your credit score. It all depends upon the financial institution’s policy. Most banks […]
Will Credit Monitoring Hurt My Credit Score?
Will Credit Monitoring Hurt My Credit Score? Credit Monitoring by David B. Coulter Share Share Email One of the most common questions that come up when it comes to credit monitoring is, “will credit monitoring hurt my credit score?” There are many myths that credit monitoring platforms can hurt your score in a way that […]
If I Short Sell My House Will My Credit Card Interest Rates Go Up?
If I Short Sell My House Will My Credit Card Interest Rates Go Up? Credit Cards by John Ulzheimer Share Share Email The following question was submitted via SmartCredit.com’s blog. Q: John, I’m thinking of doing a short sale on my rental house to get rid of it. If I do that can my credit […]
How Many Points Will a Hard Inquiry Cost on Your Credit Score?
How Many Points Will a Hard Inquiry Cost on Your Credit Score? Credit for Beginners by David B. Coulter Share Share Email Whenever you or anyone else checks your credit report, it will show up as an inquiry. That’s not a reason to panic. If it’s just a soft inquiry, your score is unaffected. Even […]
If I order a copy of my credit report, will it hurt my credit scores?
If I order a copy of my credit report, will it hurt my credit scores? Auto Loans by John Ulzheimer Share Share Email When you get a copy of your credit report and/or monitor your credit, there is no impact on your credit or your score. A credit inquiry is recorded on your credit report […]