Deanna Templeton is a financial literacy advocate with 15+ years in the banking and consumer credit industries, including five years with FICO in their credit scoring division. She specializes in educating consumers on the importance of healthy credit management, and shares valuable insight on consumer credit and finance issues.
We recently received this reader question: “I have several negative items on my credit report, including two charge-offs and a collection that I know are not mine and the creditors refuse to remove them. The name that was used isn’t my last name and the address listed is in another state that I have never lived... Read More
One of our readers went car shopping, and had an unpleasant surprise when the dealer made a credit inquiry. Here’s the story: Recently my boyfriend and I went to look at vehicles for him. He saw one he was interested in but knew we weren’t ready to purchase yet. The auto dealership convinced him to... Read More
When it comes to your credit scores, the amount of credit card debt you’re carrying can have a significant impact on your scores. With that in mind, how does transferring a credit card balance to another card affect your credit score? That’s the basis of this reader’s question: I’m rebuilding my credit. Do I get... Read More
Frustrated after being denied for a credit card and later a personal loan, a reader recently wrote in to find out why his utilities and rental payments weren’t being reported in his credit reports or factored into his credit score. His question: “I just applied for a credit card and was turned down. My credit... Read More
If you become a victim of credit card theft, it’s extremely important to report the theft immediately in order to minimize any damage the charges may cause. As shown by this reader’s question, waiting to notify the card issuer may cause additional, unnecessary damage to your credit reports and scores if the fraudulent debt ends... Read More
We recently received a question from a reader who’s planning to purchase a home in the near future and is worried that a record of charge-offs on her credit report could hurt her chances of qualifying for a home loan: Hi. I plan on buying a home in 6 months, and have more than 20%... Read More
When it comes to understanding how your credit score is affected by how much of your available credit you’re using, it can seem complicated. One reader found that a high utilization rate — that is, using a lot of their available credit — was the only negative factor on their credit reports, so they asked us... Read More
The decision to file bankruptcy isn’t an easy one, but it does offer a way out for those who are faced with debts that they won’t ever be able to pay. And while it offers a chance at a fresh start, trying to repair the damage bankruptcy does to your credit can be downright frustrating,... Read More
There’s no denying the fact that credit has become a fundamental part of our financial lives. It influences how much we pay in interest on auto loans, mortgages, student loans and credit cards. It also influences our insurance premiums, deposits on utilities and rent, and in some cases, it can even impact our ability to... Read More
Here at Credit.com we encourage our readers to ask questions, share their personal stories and even vent their frustrations, as is the case with a reader who recently wrote to us to with this question: Why are free credit reports different from the credit reports provided to lenders and other businesses?! What one gets from a... Read More
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