Category: Credit Reporting

It’s income tax season and many Americans have already planned what they will do with their refund check as soon as they get it. Making large purchases or taking a vacation are popular ways to spend tax money. Many consumers also use their tax refunds to pay down credit cards or other debt.  Whether you [...]

These days, many consumers are becoming more conscious about the role their credit scores play in their everyday lives, but at the same time, they may not know exactly what goes into it, and what they can do to improve it.About 42 percent of consumers have checked their credit scores in the past 12 months, [...]

STEPS TO OBTAIN FREE ONLINE CREDIT REPORT   Step 1: Open a browser and go to www.annualcreditreport.com. Step 2: Select your state using the drop down menu and click “Request Report”. Step 3: Complete the online form and click “Continue”. Step 4: Click on the check box next to TransUnion (you may also choose Experian or [...]

We’ve come to accept that our credit history will be pulled and checked if we want to borrow money. That’s fair enough. We’ve begrudgingly accepted that insurers set car or home insurance premiums in part based on how customers handle their credit. A growing number of people affected by record joblessness and foreclosure rates nationwide [...]

Let’s face it, now a days, a high credit score isn’t easy to achieve. Not only do you have to master the basics — maintaining positive payment history and a low debt to credit ratio, but in order to be part of the upper echelon, you must pay attention to details as well. Knowing what [...]

The FICO Expansion score is a credit risk score developed by the Fair Isaac Company specifically to help lenders determine the credit worthiness of consumers with insufficient credit histories. The score predicts how likely a consumer will become delinquent in the 24 months following the analysis by evaluating financial relationships, usually absent in credit bureau [...]

A credit score is a number lenders use to help them decide: “If I give this person a loan or credit card, how likely is it I will get paid back on time?”  The score is generated through statistical models using elements from your credit report. However, your score is not physically stored as part of your credit [...]

There are two kinds of subscribers that furnish information about you to a credit bureau. Credit Grantors (banks, finance companies, etc.) are the businesses that lend you the money. Credit Users (car dealers, mortgage brokers, etc.) use the credit report to qualify you for a loan from the Credit Grantors. Credit Grantors are the only ones that are [...]