Does A Bad Credit Score Mean You'll Be Bad At Your Job?

Does A Bad Credit Score Mean You'll Be Bad At Your Job?

A growing number of employers are running credit checks on potential hires before making a job offer. Unfortunately, there are a large number of people out there whose credit reports are still marred by the recent and ongoing economic troubles. So does it make sense to consider an applicant’s credit history? [More]

While Getting House Financed, TWC Dings Score With Unauthorized Credit Report Pull

While Getting House Financed, TWC Dings Score With Unauthorized Credit Report Pull

Shawn is peeved. He’s in the middle of securing financing on a new house and the last thing you need during that time period are any surprise people looking at your credit report. These inquiries can bring your score down. But he got exactly one of those, a “hard” one, thanks to an unauthorized peek-a-boo Time Warner Cable decided to do on his credit report when called them up to ask about reducing his cable package. [More]

How Lower Credit Scores Cost You More Money

How Lower Credit Scores Cost You More Money

People talk a lot about credit scores. Bands play songs about them in TV ads that try to sell you credit reports. It’s generally known that a higher score is better than a lower score. But what really is the difference between a person with a 820 and one with a 620? Is one a better person than the other? Not necessarily, but the person with the 620 score can expect to pay $227 more a month on a $216,000 30-year fixed rate mortgage. Here’s the breakdown. [More]

Groups Call On TransUnion To Stop Selling Employee Credit Reports To Employers

Groups Call On TransUnion To Stop Selling Employee Credit Reports To Employers

Employers pull the credit reports of prospective employees as a way to determine whether they’re trustworthy and good at managing money. But now more than 25 civil rights groups, labor unions and consumer groups have banned together to demand that TransUnion stop selling credit reports to employers. They say the practice is invasive, discriminatory, and worst of all, doesn’t even work. [More]

Freeze Your Credit Report

Freeze Your Credit Report

One way to protect yourself from identity theft is to “freeze” your credit report. This means that no new lines of credit can be opened in your name because lenders are prevented from taking a look at your credit report. This stops identity thieves from opening credit cards under your name and going on spending sprees. It also means extra hassle for you when you want to legitimately open credit. There’s always a tradeoff between security and convenience. Here’s how to do it. [More]

5 Myths About Your Credit Score

5 Myths About Your Credit Score

How one’s credit score is computed is to most people a complete mystery, akin to figuring out a quarterback’s passer rating. Thus, there are numerous myths and half-truths that have attached themselves to credit scores, some of them having at least a partial basis in fact. [More]

Get A Free FICO-esque Score From Credit Sesame

Get A Free FICO-esque Score From Credit Sesame

Credit Sesame is an advertising-supported service that gets you your credit score for free. No hidden fees, singers in Renaissance garb or gotchas. It’s not quite your FICO, but it’s close. [More]

TransUnion Wants You To Share Your Credit Score On Facebook

TransUnion Wants You To Share Your Credit Score On Facebook

Social media may have created a culture of over-sharing, but what’s too personal to share with your Facebook friends? Michael was checking his credit report, and was surprised to see a “Share on Facebook” button directly below his credit score. [More]

ID Theft: Fix Some Fraudulent Accounts Before Correcting Legit Ones

ID Theft: Fix Some Fraudulent Accounts Before Correcting Legit Ones

One of the side effects of someone using your identity to open up a bunch of accounts and leaving you saddled with the bills is that your credit history gets trashed, which means you get victimized a second time over as your real creditors jack up your interest rates and take other adverse action. Your bank account could even get frozen, making you late on some bills. But before you go plead your case to get your credit restored with them, you’ll want to fix some of the fraudulent accounts first. [More]

Do VIP's Get Privileged Treatment From Credit Bureaus?

Do VIP's Get Privileged Treatment From Credit Bureaus?

NYT reports that the three major credit bureaus each keep a special VIP list of important people who are given preferential treatment when fixing their credit reports. The list has the names of celebrities, politicians, judges and others on it. When they have errors on their reports, they are fixed by employees who work in America, and fixed swiftly. The rest of us get our requests shunted overseas to be dealt with in a cursory manner. [More]

Never Pay A Debt Collector The Full Amount

Never Pay A Debt Collector The Full Amount

The dirty little secret of debt collecting is that most of them are not working directly for the original company you ran up the debt with. They’re an outside third party and they bought your debt for pennies on the dollar. The debt collector’s goal is to get the most money out of you for the least amount of effort. This means all you have to do to make this calculus work to your advantage is settle with the debt collector for around the same price he paid to buy your debt. So start low. [More]

Free Sample Letters For Dealing With Credit Bureaus

Free Sample Letters For Dealing With Credit Bureaus

Cleaning up a dirty credit report usually involves a lot of letters. Because just mustering the strength to sit down and face this task may have already drained you of your creative juice, via Frugal For Life here are a few sample letters you can use when dealing with the credit bureaus, debt collectors and creditors. Use them as Madlibs or as inspiration to kick your own cleanup spree into high gear. [More]

Trying To Ruin Your Ex's Credit Score Is Not A Good Way Of Getting Revenge

Trying To Ruin Your Ex's Credit Score Is Not A Good Way Of Getting Revenge

When a romance goes south, it’s not unheard of for at least one of the parties involved to begin dreaming up clever ways to continue making the other person’s life hell. And one thing you definitely don’t want to do is try to screw with your ex’s credit score. [More]

Sony: PlayStation Network Users' Credit Card Info May Have Been Leaked

Sony: PlayStation Network Users' Credit Card Info May Have Been Leaked

Sony’s early bid for a high seed in next year’s Worst Company tournament continues, as does the mass outage of its PlayStation Network. Yesterday, the company admitted that it wasn’t sure if users’ credit card info was compromised by whatever evil forces hacked the system, but now Sony has slightly upgraded that uncertainty by saying that credit card info may have been leaked. [More]

Someone Explain To Experian How American Express Cards Work

Someone Explain To Experian How American Express Cards Work

How does American Express work? Michael writes that Experian doesn’t seem to understand how the company’s credit limits work. His card technically has no limit, and this confuses Experian. They coped with the confusion by showing that instead of having theoretically infinite available credit, he had $0, making his pristine record look pretty bad to potential lenders. [More]

Being 30 Days Late On House Payment Can Knock 100 Points Off Credit Score

Being 30 Days Late On House Payment Can Knock 100 Points Off Credit Score

Usually very closed-mouth about how it calculates scores, FICO released a whole bunch of data about how being late on your mortgage payments affects your credit score. For instance, being 30 days later on a mortgage payment can chop your 780 credit score down to 670. And a short sale or deed-in-lieu of foreclosure will hurt your score just as bad as a foreclosure if the service reports it as having a deficiency amount or an unpaid balance. Yikes! Here’s some sexy tables with more details: [More]

Get A Bad Deal On Your Loan? Now You'll Know Why

Get A Bad Deal On Your Loan? Now You'll Know Why

If you applied for a loan and got denied or received a higher interest rate than other borrowers with better credit scores, starting July 21st, the lender has to send you a free copy of your credit score. [More]

Comcast Says It's Not Pulling My Credit Report, Then Pulls My Credit Report

Comcast Says It's Not Pulling My Credit Report, Then Pulls My Credit Report

Brian found himself in a troubling situation with Comcast. He was setting up service at his mother’s home, about thirty miles from, his home where he already had Comcast service. Comcast’s systems apparently aren’t set up to handle one person with separate accounts in different regions. A customer service rep told Brian that he would not be checking his credit report in order to set up the new service: then ran right up against the freeze Brian had put on his credit report in order to prevent unauthorized access. From, say, Comcast. [More]