Credit Coaching Guide – Part 3 (What to avoid) When trying to improve your credit score or credit history, avoid any of the following: Asking a creditor to lower your credit limits. This will reduce that all-important gap between your…
Credit Coaching Guide – Part 2 Experts say the average time required to rebuild one’s credit to the point at which you can be accepted for a major credit card or small loan is approximately two years. Here are some…
Credit Coaching Guide – Part 1 Don’t despair if you find yourself with a less than desirable credit score and credit history. You are human and can make mistakes. It’s natural. The key to this is recognize that your spending…
Finding Your Score Pt 2 If you want to know your actual credit score, you will usually have to purchase it. This can be done in a few ways. You can get it from one of the three major credit…
Finding Your Score Pt 1 You would think that finding out what your credit score is would be easy. In a way it is, but only because I’ve done my research and you won’t have to spend time surfing websites…
All About FICO (con’t) There are about 100 different ways to compute a credit score. As we have discussed FICO is the main source lenders use to derive a credit score. FICO has 49 different algorithms that are split across different…
Credit Inquiries The final part is inquiries. That’s a list of everyone who asked to see your credit report. Any time anyone gets into the report, it’ll post an inquiry. That means if you try to apply for a credit card,…
Public Records The next section is the part you want to be blank. The public records section is never a good story. If you have a public record on there, you’ve had a problem that has required litigation. It doesn’t…
Collection Accounts Collection accounts are accounts that are seriously past due and have been transferred to an attorney, collection agency or creditor’s internal collection agency. As your debt is transferred between different agencies, you may see several records on your…
Details Credit Information Most credit reports also give you more in-depth information about specific accounts. This is also an important part of the credit report you’ll want to review for accuracy. The following information may be reported for your account…
