Your credit report consists of information of where you live, how you pay your bills, and tracks all of your outstanding debt. Your credit report also contains public records such as liens and bankruptcies. The credit reporting agencies, in turn, sell this information to creditors, insurers, and employers
How A Credit Freeze Works A credit freeze is also known as a “security freeze.” It allows you to place restrictions on your credit report, making it more challenging for identity thieves to open new accounts in your name.
Established by the credit bureaus Experian, TransUnion, and Equifax, the company VantageScore will utilize the new process starting on July 1st. If you don't recognize the name, just appreciate that VantageScore calculated the credit scores to approve or deny roughly 8 million credit card applications last year alone.
Sharing joint credit accounts can be a great move for your credit score, or it can be a horrible decision. If the individual you are co-signing with is reliable and has an excellent credit history, then co-signing may be a great decision for you (especially if you aren't paying the loan).
The Federal Housing Authority (FHA) has helped out many prospective home buyers who may have a less-than-perfect credit history. In fact, their FHA mortgages have made it possible for people to buy a house who may not otherwise be able to because of their credit.
Making bill payments on time every month is one of the best ways to maintain a good credit score. However, there are occasions when paying a bill after the due date is unavoidable. The level of how your score is affected typically depends on several factors.
The Fair Credit Reporting Act gives everyone the right to know the details of how their credit score is calculated. Therefore, all individuals can request this information and by law, it must be provided.
When it comes to maintaining good credit, there are plenty of times that having joint accounts, commonly known as co-signing an account, can be very beneficial to all involved parties. However, there are a couple of ways that a joint account can negatively affect your credit when used improperly.
Now, many in the financial industry are suggesting that it would be prescient for lenders to use alternative forms of data to evaluate whether or not a borrower is creditworthy. In this article, we will look at some forms of alternative data that could serve as feasible options for evaluating an individual borrower's creditworthiness.
Many factors are at play when determining your credit score, and credit inquiries are a relatively small part of them. A large drop in your credit score is unlikely if you are shopping for rates on your car or student loans or mortgage