While the three major credit bureaus each allow you to access your credit report once a year at no charge through annualcreditreport.com, getting your actual credit score will likely cost you some money. [More]
This Valentine’s Day, Tell Congress You’d Really Love Access To A Free, Reliable Credit Score
By February 13, 2013
5 Myths About Your Credit Score
By September 15, 2011
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]
How Long Should Paid-Off Medical Debt Be Part Of Your Credit Report?
By August 1, 2011
Right now, any medical debt that gets sent to a collections agency can remain on your credit report for up to seven years, even after it’s been paid off. This ding on your credit score can be the difference between qualifying for a loan or being denied. That’s why the House Committee on Financial Services is looking at a bill that would erase some paid medical debts from folks’ credit reports. [More]
Man's Credit Score Damaged By Appendectomy He Never Had
By July 5, 2011
While going through the process of obtaining a mortgage, a California man found out that his credit score had dropped nearly 100 points because he had been referred to a collections agent for $2,800 owed to a doctor in Texas for an appendectomy. Only problem is, he still has his appendix. [More]
Ways You Can Screw Up Without Messing Up Your Credit Score
By October 2, 2010
Your credit can determine interest rates for loans, as well as whether or not you’ll qualify for credit in the first place. Employers also ask you to let them run credit checks on you to see if you’re reliable. So it’s in your best interests to avoid making mistakes that will ruin your credit rating. [More]
Is A Perfect Credit Score of 850 Even Possible?
By April 9, 2010
A perfect credit score of 850 is technically possible, according to FICO spokesperson, Craig Watts but may not be possible for anyone. [More]
FTC Wants Your Input On How To Improve AnnualCreditReport.com
By October 12, 2009
The problem with annualcreditreport.com—other than its name—is that getting your reports from the site is a little like dealing with GoDaddy: you have to deal with upsells and side-sells at every step. You can indeed get your free credit reports from the site, but you’ll also have to keep turning down other offers from the three participating bureaus. Hell, there are even ads (sorry, “sponsor” links) on the home page, the one place where you’d hope for the least consumer confusion.
Michael Jackson Had Bad Credit
By August 28, 2009
It was apparently the least of his problems, but the late King of Pop had less than stellar credit, says TMZ.
Psht, Bank Of America Doesn't Need Your Consent To Give You A Credit Card
By June 29, 2009
Hector didn’t know whether or not he was going to accept Bank of America‘s offer of a new credit card with a $3,500 limit, so the bank made his decision easy by issuing the card without his permission. When Hector discovered the surprise credit line, he called Bank of America with two requests: explain how they could open a new account without his consent, and keep the account open until he could figure out the new line’s impact on his credit score. Of course, without a peep, Bank of America immediately canceled the new credit card, leaving Hector wondering what might happen to his credit score…
Credit Card Companies Are Warming Up To Reduced Payoff Deals
By June 17, 2009
If you’ve fallen into a debt pit and can’t make your credit card payments, and now you’re watching them steadily mount with penalties, fees, and steep interest rates, consider negotiating a lower payment. The New York Times reports that while most card companies won’t admit it officially, they know when they’ve got a customer who can’t pay, and they’re much more willing to settle for a lower amount than they were a year ago.
Laid Off? You May Be Asked To Pay Off That Corporate Credit Card Anyway
By May 4, 2009
Rob lost his job, but kept the company credit card. Well, not so much the card, but the unpaid balance that went with it. As Rob’s employer stopped cutting him paychecks, it also stopped making payments on the account as well, and the creditor started hounding Rob, who wrote in to syndicated columnist Todd Ossenfort.
New York Times: Walking Away From Your Mortgage, Not So Bad After All
By March 22, 2009
Great news, distressed homeowners! If you aren’t eligible for the President’s homeowner assistance package and can’t negotiate a better deal on your mortgage, the New York Times says that turning in the keys and leaving your home may not be the end of your financial world. The Times mapped out a guide for dealing with the various players controlling your mortgage…
How Credit Bureaus Correct, Or Fail To Correct, Errors On Your Report
By February 3, 2009
SmartMoney’s Anne Kadet looked into the process by which the three major credit bureaus—Experian, TransUnion, and Equifax—investigate and correct errors on credit reports. What she found was that the process is “almost entirely automated,” and that “many lenders respond by simply rereporting the erroneous data.” Here’s how it works, and your meager options when something goes wrong.
By February 2, 2009
Looking for a quick estimate of your credit score? CreditCards.com has a simple questionnaire that will give you an idea where you probably stand. [CreditCards.com]
Can Businesses Really Check My Credit Report Before Offering Me A Job?
By January 14, 2009
Reader Brandon wants to know if those freecreditreport.com commercials are being misleading when they tell you that your credit report can affect where you get a job.
Is It OK To Use Credit Cards For Everything, If You Pay Them Off Every Month?
By October 29, 2008
Reader Rebekah has a question about credit cards. She and her husband pay off their cards every month, but like to charge most of their expenses because they enjoy the reward points. She’s wondering if this is a good idea and how it affects her credit.
American Express Randomly Cut My Credit Limit From $25,000 to $1,800
By September 29, 2008
Reader Pierre is a small business owner who has an American Express Business Account that used to have a $25,000 limit, but has now been cut to $1,800. He says his company’s bill is usually around $12,000 a month, and it is always paid in full — on time. While Pierre is clearly upset with American Express, the Wall Street Journal says that all banks are cutting access to credit.
CreditKarma.com Makes Free Credit Score More Like FICO's
By September 2, 2008
The CreditKarma.com site we told you about in our roundup of “5 No BS Ways To Get A Credit Score For Free” has changed its calibration system so the free, advertising-supported, credit score it gives you is now on the 300-850 range, just like your FICO score. It’s still not your FICO score, but it does make the approximation, based on TransUnion data, more relevant. If you’re do some major money moves, like getting a mortgage, you would still want to pay for the FICO score for total accuracy, but if you just want a general sense of how you’re doing, CreditKarma.com is a great way to do it for free.
