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]

Want Just A Credit Report From TransUnion? Too Bad

Want Just A Credit Report From TransUnion? Too Bad

Michael wanted to pay a copy of his Transunion credit report. In theory, this shouldn’t be a problem: he gives Transunion money, they give him a credit report. If only it worked that way. It turns out that just buying a single copy of your report from Transunion is like trying to buy a mobile phone in America from a retail store: you can get it for “free” with a subscription to monitoring service, or as part of a package deal with other services, but you can’t just hand over cash for a credit report. [More]

Capital One Burrows Into Your Wallet, Makes Your Life Hell

Capital One Burrows Into Your Wallet, Makes Your Life Hell

Gerard, now 26, has spent his entire adult life fighting with Capital One. No, we are not exaggerating: he got his first credit card with the company at age 18, and they have been causing him payment and credit-report headaches ever since. [More]

Too Good To Be True Rental Listing Leads To Credit Score Scam

Too Good To Be True Rental Listing Leads To Credit Score Scam

We’ve been getting a few emails about a new kind of rental scam where they try to lure you into giving over your credit card and personal information to a “free credit score” site. One was from Reader Benjamin, who was looking for a house to rent when he and his wife stumbled across a too good to be true deal, a fully-furnished 3-bedroom house in Maryland for only $1200. Seeing as they had nothing to lose, they emailed the lister, just to see what would happen. [More]

Man Wants Verizon FiOS, Keeps Getting Credit Score Dinged Instead

Man Wants Verizon FiOS, Keeps Getting Credit Score Dinged Instead

Todd’s subject line to us was, “Verizon FiOS hates me,” and maybe he’s right. Each time he tries to sign up for their package deal, they check his credit score, proceed with the sign-up process, then cancel everything at the last minute due to a “technical glitch.” They say he can try a third time if he wants. [More]

Convincing The Credit Bureaus I Wasn't Dead

Convincing The Credit Bureaus I Wasn't Dead

A writer for Slate shares the tell of her trying to convince Experian and Transunion that she is not deceased, as being dead is a bit of a problem when you’re trying to buy an apartment. Transunion only took one phone call and one fax to Lazarus her, but Experian was an abyss of despair, until, out of the darkness, a ray of hope emerged… [More]

Help, Expedia Sold My Chargeback To A Collection Agency!

Help, Expedia Sold My Chargeback To A Collection Agency!

Ed and his wife successfully filed a chargeback against Expedia for a canceled trip earlier this year. Now he’s being dunned by a collection agency for the amount that Amex refunded him. [More]

Mortgage Broker Told Me To Open Up A Bunch Of Credit Cards,
Should I?

Mortgage Broker Told Me To Open Up A Bunch Of Credit Cards, Should I?

One of our readers is looking to buy a house and his mortgage broker suggested that he open up about four credit cards to establish some credit history. Should he? [More]

25 Percent Of American Consumers Now Have Low Credit Scores

25 Percent Of American Consumers Now Have Low Credit Scores

Before the recession hit, roughly 15% of Americans had FICO credit scores below 600. But after the past couple of years of late payments, defaults, and foreclosures, that number has grown to 25%, or about 43 million people. At the same time, the number of people with excellent scores (800 to 850) has increased nearly 5% from pre-recession average, which the Associated Press says is partly a result of people cutting spending and working to pay off loans more quickly. [More]

How To Dispute Credit Report Errors

How To Dispute Credit Report Errors

Over 80% of credit reports have errors on them, errors which could be lowering your credit score and keeping you from getting credit or paying more for it than you should. Here’s how to fix them: [More]

Washington Wants Better Oversight Of For-Profit Colleges

Washington Wants Better Oversight Of For-Profit Colleges

Enrollment in for-profit colleges like the University of Phoenix, DeVry University, and Kaplan University–Gawker calls them fake colleges–tripled in the past decade, and has become such a fast-growing segment of the education market that some members of Congress think it needs better oversight. [More]

Stop Believing In These Credit Score Myths

Stop Believing In These Credit Score Myths

Budgets Are Sexy sifts through the mysterious black magic that goes into establishing your credit score and reveals 10 myths to note when you’re making financial decisions that may affect the score. [More]

Are Credit Monitoring Sites Really Worth The Money?

Are Credit Monitoring Sites Really Worth The Money?

Now that everyone is so obsessed with their credit reports and FICO scores, credit monitoring services have popped up everywhere. For a modest recurring fee–one that easily adds up to over $100 a year–you can have a company constantly watch your credit report and alert you of any changes in it, so you can always be on top of your creditworthiness. But should you bother? The consumer director of the U.S. Public Interest Research Groups federation (U.S. PIRG) tells BusinessWeek that credit monitoring is a “protection racket” that turns people into “financial hypochondriacs… who are scared of their own financial shadows.” [More]

62 DFAS Employees To Be Terminated For Bad Credit

62 DFAS Employees To Be Terminated For Bad Credit

The Defense Finance and Accounting Service (DFAS), a military payroll facility in Ohio, has told at least 62 of its employees that they will be terminated for having bad credit, reports WKYC. Troy Marshall, a 17-year veteran at the DFAS and one of the people being fired (incidentally, he’s also the president of a union that expanded jobs at the DFAS five years ago), told WKYC that he handles Social Security numbers and maiden names, but nothing else. “We are people. We are not just numbers. We are not just credit reports… Look at the whole person.” [More]

Go Ahead And Cancel Your Credit Card, The Score Ding Is
Minimal

Go Ahead And Cancel Your Credit Card, The Score Ding Is Minimal

New answers pried from the secretive FICO corporation that overlords our credit scores kill a longstanding myth. It turns out that cancelling your credit cards won’t destroy your credit score. [More]

Credit Checks For Jobs On The Rise

Credit Checks For Jobs On The Rise

Some HR departments use credit checks to help determine whether to hire an applicant. The practice has always had critics, since credit histories can have errors that are hard to correct, and since there’s no strong correlation between credit history and job performance. But in this economy the practice may be even less fair, notes MSNBC, even though more organizations are relying on it. [More]

Is That Credit Score FICO Or FAKEO?

Is That Credit Score FICO Or FAKEO?

Donny just bought a bunch of credit scores. But they’re all from different companies and none of them are the same. What gives? [More]

Why People Stop Using Credit Cards

Why People Stop Using Credit Cards

In yesterday’s Money section, USA Today talked to some consumers who refuse to carry credit cards, and looked at the hidden costs. One 24-year-old says they make her uncomfortable; a guy working at a gas station to pay for college says he doesn’t want to get accosted by endless junk mailings once his name enters the pool of potential customers. Then there’s the bankruptcy lawyer who canceled his cards on principle 8 years ago, after seeing how lenders behaved when their customers suffered financial setbacks: [More]