While most major lenders and creditors report to at least one of the credit reporting agencies, there is no requirement to report, and not all companies do.
Attorneys general in 31 states have reached a $6 million settlement with the major credit reporting agencies Equifax, Experian and TransUnion to make changes in the way they address errors in consumer reports and how some negative information is added to credit reports.
There is already evidence that a new credit-scoring approach by Fair Isaac Corp. will provide a pathway to decent FICO scores for some consumers who currently don’t have traditional scores.
You see the ads in newspapers, on TV, and online. You hear them on the radio. You get fliers in the mail, email messages, and maybe even calls offering credit repair services. They all make the same claims: “Credit problems? No problem!”
The last thing on most college students’ minds is their credit score. But at the same time, this number will define their financial lives for years to come. And making poor choices today could impact their lives for decades.
In a matter of minutes, your identity could be stolen and you could face a long road of financial problems. This is actually easy to avoid with SafeIDLock. If you have already experienced identity theft, SafeIDLock will help you restore your identity.
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?”
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.
We have come to accept that our credit history will be pulled and checked if we want to borrow money.