All posts in Credit guide

Credit reports are detailed documents that show how you’ve managed credit over time. Both lenders and creditors provide information about accounts to the three credit bureaus. The data is then input into their system and compiled to create credit reports. It’s important to understand your credit report for a few key reasons: Lenders use credit…

When was the last time you reviewed your free credit report? If it’s been awhile, it may be in your best interest to do so as credit reports sometimes contain errors or fraudulent information. In fact, “Of all the complaints posted to the Consumer Financial Protection Bureau’s website in 2016, the highest percentage were complaints…

When disputing negative items on your credit report, you may need to contact the credit bureaus for assistance. But that’s not the only reason why it may be necessary to contact the credit bureaus. They also have customer service representatives on hand to handle credit reporting requests related to fraud alerts, security freezes, membership support,…

The last time you applied for credit, did the lender mention anything about your FICO credit score? Whether you were attempting to get approved for a car loan, mortgage, or credit card, chances are your FICO credit score was a major determining factor for approval. And the lender or creditor may have asked if you…

If you’ve been in the credit world for some time, chances are you understand the many benefits you’ll derive from having a good credit score. For starters, good credit means you will qualify for the most competitive offers on financing. It could also equate to lower insurance premiums and competitive employment opportunities, just to name…

Are you looking to raise your credit scores to get approved for a loan or credit card? Or maybe you just want a peace of mind knowing that your credit score is in good shape. Depending on where you currently stand and what items are your credit report, it could take a little or a…

If a debt collector files a lawsuit against you for the amount owed and you ignore the lawsuit or fail to give a timely response, they may be awarded a judgment by the judge, notes the Consumer Financial Protection Bureau (CFPB). When this happens, your credit could sustain major damage. Even worse, you could sustain…

Were you recently denied a checking or savings account at a financial institution? Unless it was a direct result of your credit rating, chances are there’s an issue with your ChexSystems report. But what is ChexSystems, and how do banks use it to make decisions on who gets approved for accounts and who doesn’t? More…