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Would You Buy a Credit Score if The Website Said This…
If you don’t live in Utah you probably have never heard of Representative Paul Ray. And, you’ve probably never heard of H.B. 158, more commonly referred to as the Consumer Credit Protection...
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VantageScore Solutions Announces VantageScore 3.0, and it’s got some pretty...
Today VantageScore Solutions announced the release of the 3rd generation of their credit bureau based risk scoring model, the VantageScore Score. Experian, one of the three credit reporting agencies...
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Excerpts From VantageScore’s Press Release Regarding Their 3.0 Credit Scoring...
STAMFORD, Conn, March 11, 2013 – VantageScore Solutions, the company behind the VantageScore® credit scoring model, announced today (actually it was yesterday) the unveiling of its newly constructed...
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If I am late on only one payment, will it hurt my credit?
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 you a break on an...
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Who’s Right About Credit Report Errors…Consumers or the Industry?
I’ve written about credit report errors several times over the past 9 years and the topic is what we in the writing world refer to as being “evergreen”, meaning it’s timely regardless when it’s...
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How Can I Shop Around For The Best Credit Card Rates?
I got a great question from a consumer recently about rate shopping. The question was so relevant that it warrants a short blog on the topic. Here it is… “Hi John – I know it’s a good idea to shop...
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Great Income Means a Great Credit Score, Right?
Over the past few weeks I’ve taken to task some of the more stubborn credit myths that simply won’t go away, in part because their authors refuse to acknowledge their mistakes. The most recent blatant...
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Here’s the REAL Reason You Don’t Get a Free Credit Score Annually…
Ask yourself this question…Are credit scores part of my credit report? And I’ll answer it with this…the difference between a credit report and a credit score is; A credit report is credit information...
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What Are Account “Ratings” on my credit reports?
Have you ever seen an actual raw credit report? Meaning, a credit report that has been produced directly from a credit reporting agency for the purposes of lending and not a credit report...
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Do credit scores consider information not on my credit report?
Credit scores are based upon information on the credit report. This is the only information used to predict credit behavior. The next question is, which data is and is not included in a credit report?...
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Which “Expert” Do You Believe In the World of Personal Finance?
Yesterday I took part in a TweetChat called #CreditChat along with Experian, one of the national credit reporting agencies, and Mint.com. About a quarter of a million Twitter accounts were reached by...
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Should I Stop Paying My Credit Card Bills By Their Due Date?
Today is April 1st and if you’re like me then you’re trying to avoid being the victim of a good April Fool’s Day joke. In addition to being April Fool’s Day, today is also the first day of Q2 2013....
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Does Opting Out of Credit Card Offers Really Increase My Credit Score 10-20...
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 someone...
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What Happen to My Credit If I Get Divorced?
About 50% of you who are reading this right now will get or have gotten divorced. That’s how the numbers play out. That’s the bad news. The good news is this… Being divorced doesn’t deduct any points...
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What happens if my home is foreclosed?
Over the past five or so years Americans have had to become familiar with terms that we had never heard before. We became familiar with loan modifications, short sales, and negative equity in our...
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Credit Inquiries and New Accounts 101…A Refresher
There are several reasons you apply for credit: 1) to take advantage of a special offer for a credit card; 2) to purchase a home, auto, boat, etc and 3) because you need additional credit to pay your...
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Why Doesn’t My Credit Card Ever Show a Zero Balance On My Credit Reports?
This is one of the most frequently asked questions and one of the most misunderstood aspects of credit reports and credit card bills. To understand why your credit card balance never shows as being...
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Will it hurt my credit if I’m denied for a loan or credit card?
When you apply for credit, the potential creditor reviews your credit report and this act is recorded on your credit reports as an “inquiry.” This inquiry simply indicates that you’ve applied for...
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Why is the FICO score used by auto lenders different than other FICO scores?
There are many different versions of the FICO credit score. Each of the three U.S. credit bureaus – Equifax, Experian and TransUnion – has many different generations and “flavors” of the FICO score,...
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So Exactly Who Calculates My Credit Scores…Because It Isn’t FICO or VantageScore
Before I answer the question posed in the article title it will be helpful to have some background on credit reports, FICO credit scores and VantageScore credit scores. Credit reports originate from...
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