Credit 101: What Is Revolving Debt Utilization?

Credit 101

Credit 101: What Is Revolving Debt Utilization?

Credit 101: What Is Revolving Debt Utilization?

A “revolving” credit account is an account where your monthly payment is based on your balance, which can change from month to month. Revolving balances can also be paid in full without incurring finance charges, if paid within the the “grace period.” Revolving utilization, also known as your “debt-to-limit ratio” or “credit utilization,” measures the… Read More

This Week in Credit News: The Truth About Report Errors

Credit Score

This Week in Credit News: The Truth About Report Errors

This Week in Credit News: The Truth About Report Errors

The biggest news this week revolved around a piece on “60 Minutes” about a Federal Trade Commission report on the accuracy of credit reports. Are Mistakes Ruining Your Credit Report? Credit.com’s Director of Consumer Education Gerri Detweiler took a look at the FTC report, which found that one in five consumers have errors on their… Read More

Lawmakers Hold Credit Reporting Hearing After CFPB Study

Credit Score

Lawmakers Hold Credit Reporting Hearing After CFPB Study

Lawmakers Hold Credit Reporting Hearing After CFPB Study

The federal watchdog agency tasked with ensuring consumers have more protections that relate to their finances recently released a study on the ways in which the credit reporting industry typically works, and its findings prompted a hearing on Capitol Hill. Earlier this month, the U.S. Senate Committee on Banking, Housing and Urban Affairs’ Subcommittee on… Read More

CFPB Releases Study on Credit Reporting Agencies

Credit Score

CFPB Releases Study on Credit Reporting Agencies

CFPB Releases Study on Credit Reporting Agencies

Today the Consumer Financial Protection Bureau released a study focusing on the “infrastructure and processes” employed by the three major credit reporting bureaus, Experian, Equifax and Transunion. The paper and the accompanying conference call with the media both focused on the centrality of the credit reporting industry in the lives of American consumers in the… Read More

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

Credit Score

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

Non-Traditional Credit Reports Now Regulated by ‘Free Report’ Rule

While consumers have been able to get a free copy of their credit reports from each of the nation’s three largest reporting bureaus, there was some information compiled by other, smaller firms to which they did not have easy access. However, a new rule from the federal consumer watchdog agency recently changed that. Now, roughly… Read More

CFPB Now Keeping Tabs on Credit Reports

Credit Score

CFPB Now Keeping Tabs on Credit Reports

CFPB Now Keeping Tabs on Credit Reports

In the past, the federal watchdog agency in charge of protecting consumers’ finances and credit has taken responsibility for handling complaints about a number of different types of loans, but has once again expanded its purview. In addition to all the other types of issues over which it accepts complaints, the Consumer Financial Protection Bureau… Read More

Should Utility Payments be Reported to the Credit Reporting Agencies?

Credit Score

Should Utility Payments be Reported to the Credit Reporting Agencies?

Should Utility Payments be Reported to the Credit Reporting Agencies?

Most consumers are aware that how they manage “standard” credit obligations — such as mortgage, automobile and student loans as well as credit cards — are recorded in their credit histories at the three major national credit reporting agencies (Equifax, Experian, TransUnion).  This information is then accessed and used by lenders when evaluating a person’s… Read More

Will a New Credit Card Change My Score?

Credit Score

Will a New Credit Card Change My Score?

Will a New Credit Card Change My Score?

Credit does not have to be complicated. At Credit.com, we sometimes receive questions that can be vexing to an average consumer, but to a true credit expert it is actually quite simple. Reader Mike Smothers asked us just such a question recently: “When a credit card company issues me a new credit card,” he wrote in… Read More

How Can I Erase Judgments From My Credit Reports?

Credit 101

How Can I Erase Judgments From My Credit Reports?

How Can I Erase Judgments From My Credit Reports?

Credit reporting can be very confusing for consumers. We get this question all the time: How do the three major credit bureaus — Equifax, Experian and TransUnion — gather the information in our credit reports, and how come they sometimes disagree? A Credit.com reader using the screen name “Tammy” is wondering exactly these things. Tammy… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to your experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.