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If you’ve always maintained a strong payment history with your cellphone and cable bills and want a little credit for it, you may be in luck. Credit-scoring giant FICO just announced a new scoring model designed to give credit scores based on people’s payment history with their phone, utilities and other bills. LexisNexis Risk Solutions and Equifax introduced the FICO Score XD... Read More
A foreclosure can lead to a litany of problems, financial and otherwise, for homeowners and their families. And, as people work to keep their home or simply get through the filing, they often don’t have time to consider their credit score. In fact, for a time, perhaps they shouldn’t. “If a person is going through... Read More
People may wait in excessively long lines to get a bite-sized sample at Costco, but nearly half of Americans don’t take advantage of a much more important freebie. According to a new Equifax survey, most consumers know they have access to free credit reports each year, but 42% don’t seem to be capitalizing on the... Read More
There’s nothing more frustrating than seeing something that’s wrong or unfair on your credit report and being unable to fix it. That pain point is especially difficult when you’ve already gone through the process of disputing an error (or many errors) with the major credit reporting agencies and, for one reason or another, your dispute was... Read More
Missing a single loan payment may seem like a small faux pas, but it can actually do big damage to your credit score, particularly if it’s your first slip-up. A 30-day late payment can lower a good credit score of 780 by 90 to 110 points, according to a study by major credit scoring model... Read More
To view your credit report, you typically have to provide the credit reporting agencies with your Social Security number. You’re also generally asked to answer some security questions, based on information on your credit file, to verify it is, in fact, you requesting the report. (Sample Q: What is the name of your student loan servicer?)... Read More
Here’s something you probably already know: You get a free annual credit report from each of the three major credit reporting agencies. You probably also know it’s important to regularly look at your credit reports to check them for accuracy. That’s the easy part — when it comes to fixing problems on your credit reports,... Read More
It’s the big, bad boogeyman of credit scores: bankruptcy. A formal declaration that you are incapable of paying off all your debts as agreed. And while taking such action could spare you from paying off all — or at least some — of the loans that put you so badly in the red, you can expect your... Read More
If you think the credit scoring system in the U.S. is onerous, check this out: Chinese adults living in Shanghai who don’t regularly visit or call their parents could see their credit scores lowered as punishment, according to Chinese media reports. New regulations, which take effect next month, are designed to bolster 2013 legislation aimed at getting Shanghai adults to “visit and... Read More
Your credit score isn’t like your family; you aren’t stuck with it forever. In fact, credit scores are quite fluid, as a recent study from VantageScore Solutions shows. The study looked at the credit scores of 2 million consumers between 2011 and 2013, reporting that 49% of these consumers saw a credit score increase of around 19 points during... Read More
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