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Do I Need To Worry About My Credit Reports if I’m Not Applying For A Loan?
You may have all the credit cards you need, including a mortgage and a car loan. Why should you be concerned about your credit? You have no need for any additional credit right now. The reason is...
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How Can I Protect My Score During the Holidays?
When you’re at the mall giving your credit cards a workout this holiday season please keep in mind how those actions can impact your credit scores. If you’re not sure how they work…here’s a refresher…...
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Why is My Spouse’s Credit Score Different From Mine?
It’s one of the most common credit reporting and scoring myths…the one that suggests spouses have joint credit reports and share a credit score. This is, of course, untrue. Unless both you and your...
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Does My Income Impact My Credit Score?
You would think that a person with a high income would also have a high credit score, but that is not necessarily true. It depends upon how they pay their bills and how much of their credit they use...
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What’s The Best Way to Build My Credit Score?
Happy Birthday, you’ve just turned 18. Maybe you got a car for your birthday. Maybe your parents are throwing you a great party. Whatever your gift happens to be, it’s unlikely that you’re thinking...
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Will An Eviction Show Up On My Credit Report?
An eviction from a rental property is not reported to the three consumer credit reporting agencies – Equifax, Experian and TransUnion. But (there is always an exception) this information could be...
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How Do I Calculate My Credit Card Usage Percentage?
It’s one of the most important components in your credit score, and one of the most misunderstood. It’s “revolving utilization”, also commonly referred to as the credit card usage percentage or the...
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Do The Credit Bureaus Determine My Credit Rating?
The three major credit bureaus in the U.S, compile credit information from many data providers including credit grantors such as banks, credit unions, finance companies, mortgage lenders, auto lenders,...
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Will I Have Perfect Credit If I Pay My Bills On Time?
How you pay your bills or your payment history represents 35 percent of the points in your credit score, which is the largest component. This is over one-third of your score. This includes both...
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I Haven’t Used My Credit Card In Years, Why Isn’t It Closed?
Your credit card is not automatically closed, even if it hasn’t been used for a few years. Credit card companies really want your business, so they don’t usually close the account unless you can’t pay...
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How does negative information impact my score?
The consumer watch dog, the Consumer Financial Protection Bureau (CFPB) recently released a study regarding how consumer data is managed. The paper was titled “Key Dimensions and Processes in the U.S....
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If my home loan is underwater, does that hurt my credit?
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...
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Does transferring my credit card balance to a new credit card increase my...
Now that the holidays are over and the bills are coming in, you may be contemplating how to lower the amount of interest you pay on your credit cards and how to lower the amount you owe. You may have...
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I have a credit report, why don’t I have a credit score?
In order to have a credit score, you must have a credit report. The reason is that score is calculated from the data on the credit report. The credit report information has to be current and include...
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Do I Build Credit Faster By Carrying a Balance on My Credit Cards?
MYTH alert: Carrying a balance on a credit card does not increase your credit scores and it does not cause you to build credit any faster than if you were to pay it in full each month. In fact, it can...
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Should I close credit card accounts?
It’s one of the most common myths related to credit scoring…close credit card accounts if you’re not using them because it will improve your scores. This is one of the fallacies of credit scores that...
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What’s worse for my credit scores…missing a payment on a mortgage or on a...
I received the following question over the weekend and it’s a good one so I thought I’d write a little blog around the answer hoping to share the information with others who may have a similar...
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Is There An Advantage to Being an Authorized User on A Credit Card Account?
Let’s begin with a definition of an authorized user. An authorized user can use the credit card, but has no responsibility for paying it. Even though the card is issued in the authorized user’s name,...
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How Often Does My Credit Score Change?
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,...
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Be Careful Where You’re Getting Your Credit Facts
Nothing drives me crazier than reading erroneous credit advice or education online from so called credit experts. The field in which I operate is not only highly technical but also has a direct impact...
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