The Federal Trade Commission, or FTC, was formed in the U.S. in 1914. Their job is to make sure that the public does not fall victim to unfair business practices. They enact laws that keep businesses honest and make them provide equal service to all. (more…)
Archive for the ‘Credit Score’ Category
The FTC Recommends Self Credit Repair
Sunday, August 15th, 2010Easy Tips for Rebuilding Credit
Sunday, August 15th, 2010With such difficult financial times in the economy today, many people are faced with credit problems. Rebuilding your credit can help you in the future when you want to buy a home or car, or take out other loans. There are many things you can do to make a big impact and greatly improve your credit. Whether you ended up having credit problems because of job loss or other financial problems, there are many solutions that can go a long way towards helping you find a way out of the trouble you’re in. One of the easiest things you can do to improve your credit is by getting your free credit score. (more…)
How Mortgage Issues Might Affect Your Credit
Sunday, August 15th, 2010These days, many people are struggling with financial problems due to job loss or other issues caused by the economy. One of the biggest things affecting the credit of millions of people is mortgage issues. Whether you’ve faced foreclosure or are having trouble securing a mortgage because of credit issues, there are many things you can do to recover. Many people might opt for credit repair programs, but they can be costly and there are growing numbers of credit repair scams. The safest way to tackle bad credit is by dealing with it yourself using some hard work and the helpful tool of credit repair software. (more…)
Identity Theft Can Damage Your Credit
Sunday, August 15th, 2010Understanding the things that might damage your credit will help you when it’s time to do some credit repair. With the current state of the economy, many people find themselves in situations that have put their credit at risk. From job loss to foreclosure, there are many things that can change once-exemplary credit. One of the biggest problems that can cause permanent damage to your credit is identity theft. Knowing how to protect yourself from this credit-harming culprit is an important tool that can provide you and your family with the protection you need. (more…)
Identity Theft Has Devastating Effects on Credit
Sunday, August 15th, 2010In today’s world, it is easier than ever for hackers and thieves to assume your identity. In fact, all it takes is a lost wallet or someone memorizing your credit card number in line behind you at the bank or using a cell phone to take a photo of a check while you are paying for your groceries. Using the data found on your check, which typically contains not only your account number, but your name and billing address, thieves can go online and charge a number of different items and services to your name. If you aren’t vigilant, they can amass thousands of dollars in debt before you even know anything is amiss. (more…)
How Credit Scores are Determined
Sunday, August 15th, 2010If you have ever taken the time to read over your credit score, you’ve probably wondered, ìHow do these companies figure my credit score?î Lots of others probably wonder the same thing. How do those credit reporting companies figure out that three-digit number?
Credit scores range from 300 to 850, with 850 being the best possible score you can achieve. Credit companies use this score to make a quick decision on whether or not to accept an application for a credit card, loan, mortgage, etc. It keeps them from having to go through your entire credit report. (more…)
Understanding FICO 08 and How it Affects You
Sunday, August 15th, 2010The world of credit is filled with many confusing terms, and it can be quite overwhelming to try to find a way to improve credit scores. With the economy being in such unstable shape, many people who used to have exemplary credit find themselves struggling with a variety of credit problems. From bankruptcy to foreclosure, this economy can lead to many problems that are out of your control. Whether you lost or job or just find yourself struggling because of the economy, you’ll want to figure out a way to handle credit issues. (more…)
Credit Score Facts You Need to Know
Sunday, August 15th, 2010If you’re like many people today, you could use a credit score boost. In the game of credit, knowledge really is power. When you really know how to deal with your credit score, you’ll be able to make good choices that will help you in your credit repair quest. Here are some fact you need to know before you get started repairing your credit. (more…)
Credit Score Changes in FICO 08
Sunday, August 15th, 2010The FICO score is the most common credit score used by lenders to determine whether they will extend you credit. FICO is named after its developer, the Fair Isaac Company. In January, there were changes made in order to update the credit scoring model. This new model is called FICO 08 and is now used by TransUnion and Equifax, two of the three major credit bureaus. Experian has not adopted FICO 08 yet, and it is unknown whether they will in the future. (more…)
Understanding Credit Inquiries and How They Affect Your Credit
Sunday, August 15th, 2010When it comes to understanding credit, there are many resources that can help you. Before you attempt the daunting task of fixing credit, you’ll want to gain at least some understanding of the various things that could have affected your credit, as well as the best ways to fix it. Credit inquiries are something to be aware of, as to how they might affect your score. Inquiries are something that can happen quite often, so you should understand what happens with each one. You can find many ways to repair your credit yourself, including credit repair software.
Credit inquiries occur when you apply for credit. You’ll see these inquiries listed on your credit report when you attempt fixing credit later. They do count towards your FICO credit score, but only moderately. The impact inquiries have on your credit score depends on what type of inquiry it is. For example, loans that commonly involve “rate-shopping”, such as auto loans or mortgages won’t weigh as heavily as other types of inquiries. You can improve your FICO score by doing your rate shopping in a focused period of time, because that will have a smaller impact on your score.
When you’re attempting the task of fixing credit, there are many confusing terms you’ll need to familiarize yourself with to effectively solve the problem of bad credit. From identity theft to credit inquiries, there are many things to research and gain an understanding of. Inquiries don’t have a huge impact on your overall score as long as you understand the best ways to use them to your advantage. Finding your way to good credit can be daunting, but understanding the best and easiest ways to improve it will really help, especially if you want to repair it yourself.
Credit repair software can work wonders when it comes to fixing credit. Whatever led you to bad credit in the first place, you can find your way out of it with a little patience and a lot of determination. Credit inquiries are one of many things that might have affected your credit score over the years, so understanding them will certainly help you when it comes time to repair it. With so many people facing devastating financial troubles, there are many things that can help you find your way out of debt. When you’re ready to do something about bad credit, a little research can go a long way.
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