New York Senator Schumer Tries to Make “Free” Credit Reports Free

Most people can sing along with the commercials about free credit reports. These commercials are entertaining and funny, but are they offering an honest product? New York Senator Charles E. Schumer doesn’t think so. He believes these ads are the equivalent of scams and wants to do something about it. [Read more]

Credit Reporting Rules Are Changing

The word “credit” is being tossed around constantly these days, and it has everything to do with the recent credit crunch and new legislation regarding credit cards. The Credit CARD Act of 2009 has a lot of provisions regarding what credit card companies are going to be allowed to do in the future, but there is also a sneaky little addendum regarding credit reports. [Read more]

Tips To Help Your Credit Score

Everyone knows how important it is to have a good credit score. The higher the better is what you always hear, but what can you do to help keep your credit score up? You may know the basic strategies, but more goes into your credit score than you might think. [Read more]

Credit Reports Are Essential To Financial Recovery

People who are looking to recover financially have a lot to consider when it comes to rebuilding their lives. Even for those who aren’t bankrupt, they have to figure out what they’re going to do about their debt and how to manage it in a way that works with their level of income and basic needs. [Read more]

Tips to Improve Your Credit

It almost goes without saying that if you have debt, you have a less than stellar credit rating, and with more Americans in debt now than ever before, chances are likely that you or anybody you know can benefit greatly from just a few simple tips and advice on the ways in which a credit score can be improved. Even if you have a great credit score, it is still good to improve of refresh your understanding of the ways in which you can maintain a good score and keep building it into something exceptional. [Read more]

FICO 08

With the changes in the market place and the shifting attitude of consumers towards plastic over cash, Fair Isaac has deemed it necessary to make a few changes. Fair Isaac or FICO is responsible for doling out consumer credit scores when can pretty much make or break a consumer searching for a mortgage, a loan, and even employment.

FICO’s new model is set to debut in a few months but many consumers and lenders are getting ready for the change now. FICO will keep the scale in which the credit scores appear the same. Which means consumers can still expect to see a number ranging from 350 to 800 which the higher the number reflecting the better score. [Read more]

The Fair Credit Reporting Act

The three credit report agencies, Equifax, Experian, and Trans Union can be said to have quite a lot of power, for they hold the information that can make you or break you when it comes to being approved for credit. However, consumers do have something on their side, and that is the Fair Credit Reporting Act.

Not just an act, but also an actual Federal law, the Fair Credit Reporting Act can be the only thing that can be a buffer between the consumer and these credit agencies. It gives you certain rights, which influence how the three agencies are obligated to do their job and also gives them several responsibilities. [Read more]