Obtaining a free copy of your credit report has become very easy task thanks to government intervention and the establishment of the FACT Act. The destination on the internet to go to for a free credit report is annualcreditreport.com. The service is entirely free; unfortunately, a free credit score is not included with that site or service. There are several options to review when it comes to getting a copy of your credit score. Whether it is a free credit score or not is … [Read more...]
Find Out Your Credit Score
October 5, 2010 By Leave a Comment
To find your credit score should be an easy task, unfortunately it’s not. Unlike credit reports, there is no universal resource that entitles consumers to a free copy of their credit score. Consumers are entitled to one free credit report within a 12 month period from each of the three credit bureaus but are not entitled to receive a free credit score. The FACT Act which is a revision made to the Fair Credit Reporting Act, allows consumers to get one free credit report from each of the … [Read more...]
Remove Inquiries from Credit Report Sample Letter
September 30, 2010 By Leave a Comment
When trying to improve a credit score, removing inquiries from the credit report can help. Inquiries, as a rule, have very little impact on a credit score but they can shape the score if there are a number of credit report inquiries in a short period time recorded in the credit report especially when the individual credit report has a limited credit profile or credit history. Before a consumer pursues the process of trying to remove the inquiries from a credit report they should be … [Read more...]
Remove Inquiries from Credit Report
September 28, 2010 By Leave a Comment
Since the Fair Credit Reporting Act allows only authorized inquiries to appear in a consumer credit report, consumer can remove inquiries from a credit report. To remove inquires from a credit report a consumer should first be fully aware of the credit inquiry and credit score process. According to the Fair Credit Reporting Act, businesses with a permissible purpose may review the information in your credit report. Every time you apply for credit whether it is a mortgage or credit card, … [Read more...]
Credit Score Scale
September 27, 2010 By Leave a Comment
In order to improve a credit score or to know the likelihood of being approved for a loan or credit request, a consumer should know what the range of credit scores are or what the appropriate credit scale is. The common credit score scales available are not absolute measures, but can be used as a good guide on where an individual’s credit score falls within the available range of scores. There is not one credit score scale. Credit scores are determined based on the information in an … [Read more...]
Credit Report Inquiries
September 26, 2010 By Leave a Comment
Credit report inquiries are recorded in credit reports every time a business that is authorized to view your credit report does so. Although credit report inquiries are often necessary, too many credit inquiries can reduce a credit score. A credit score can be lower as a result of too many inquiries which is an indication that you have been applying for multiple new credit lines in a short period of time. By federal law, your credit report must list all parties that have made an inquiry … [Read more...]
Credit Check Agencies
September 25, 2010 By Leave a Comment
Credit check agencies are companies that collect and sell information about the credit history of an individual. The report that the credit reporting agencies produce regarding consumer credit histories are called a credit reports. A credit check agency is a term that covers a number of different types of credit reporting agencies. Credit check agencies are also known as consumer reporting agencies and credit bureaus. The credit check agencies or credit reporting agencies take in a … [Read more...]
FTC Targets More Credit Repair Operations
September 22, 2010 By Leave a Comment
Since a good credit score and credit history has become so important for consumers to obtain credit and housing and insurance and other products and services, companies that target consumers who have poor credit histories with promises to clean up their credit report have run amuck. The FTC is one government agency responsible for curtailing fraudulent, deceptive, and unfair business practices regarding credit repair organizations. The FTC announced in the first week of September that … [Read more...]
Review the Credit Accounts in Your Credit Report to Improve Your Credit Score
September 9, 2010 By Leave a Comment
Once a consumer is familiar with the components from a credit report that factor into a credit score, one of the first step steps to try and improve a credit score is to review the credit report for errors and inaccurate information. Credit reports are often filled with numerous errors however; most of these errors do not impact a credit score. The focus in reviewing the credit report is to have the accounts and records that impact the credit score repaired or removed. When reviewing a … [Read more...]
Debt Validations Letters
September 2, 2010 By Leave a Comment
The Fair Debt Collection Practices Act (FDCPA) gives consumers the right to request that a debt be validated which can be requested with a debt validation letter. Debt validation is different from the verification process that can be done through the credit reporting agencies. A request to verify a debt simple means the credit reporting agency requests that the creditor verify their records for accurate information. A debt validation requires that the collection agency prove the debt is … [Read more...]