Credit Scores

Thursday, February 7, 2019

To Raise Your Credit Score, Start by Understanding It


The nuance in credit scores comes from the elements beyond simply paying what you owe on time, although there is less transparency with these other factors influencing your score. The second-largest part of your score’s makeup belongs to how much you owe.

 https://www.
Read more . . .


Thursday, December 6, 2018

Will a lender getting a copy of my credit report affect my score?


Answer:

A single credit inquiry from a lender will have little impact on your credit score.

Credit scoring models also take into account when a consumer is shopping for the best rate on a student loan, auto loan, or mortgage and do not penalize them for this comparison shopping.

For these types of loans, scoring models generally count multiple inquiries as one inquiry if they occur within a reasonably short period of time.

In general, credit inquiries for the same type of loan made within a 14-day period will be treated as no more than a single inquiry.
Read more . . .


Wednesday, October 24, 2018

How More Americans Are Getting a Perfect Credit Score


Members of the 850 Club can be broken into two groups. There are the super-knowledgeable tacticians trying to crack scoring algorithms, and the naturally prudent. Some are prepping for a loan. Others are just credit-score hobbyists.
Read more . . .


Monday, October 22, 2018

FICO Plans Big Shift in Credit-Score Calculations, Potentially Boosting Millions of Borrowers


Credit scores for decades have been based mostly on borrowers’ payment histories. That is about to change.  

Monday, September 17, 2018

D.C. was up in arms over Equifax breach — what happened?


There has been little to no action in Congress that relates to the Equifax data breach or enacting legislation which creates future remedies or legislation designed to prevent such massive data breaches,” said Jim Francis, an attorney at Francis & Mailman, a firm that focuses on consumer protection litigation. 

 

https://www.americanbanker.


Read more . . .


Monday, July 16, 2018

Forty Percent of Americans can't cover a $400 emergency expense


 Credit remains more important than ever.  Be sure your credit reports are accurate -- it's your right under federal (and New York) law.


Monday, June 11, 2018

Credit problems may hinder job search


According to a survey conducted by the Society for Human Resource Management, 60% of private employers check the credit histories of some of their job applicants, and 13% check the histories of all potential hires. 

Read more . . .


Thursday, June 7, 2018

Free credit freezes are coming soon


The new law has a long name – Economic Growth, Regulatory Relief, and Consumer Protection Act – but the outcome is simple. When the law takes effect in September, Read more . . .


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