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There were 110 articles found in this category:
  1. questionWhat are non FICO credit scores?
    Some companies sell non-FICO credit scores directly to consumers and in many cases they are not the same scores that are sold to lenders. Here are the companies that sell non-FICO credit scores: Experian – That’s right: One of the big three credit reporting agencies. Experian sells ...

  2. questionHow will a balance transfer affect my credit scores?
    When you take advantage of balance transfer offers (when you move all or part of the outstanding balance on one credit card to another account), you affect your credit scores in several different ways. First, you are applying for a new account (which creates a new inquiry on your credit reports) ...

  3. questionWhat is an application score?
    An application score takes information from your credit application and uses it to determine your score for purposes of obtaining a new credit account. Using this statistical scoring, businesses evaluate applicants for acceptance or denial. Application scoring often factors in other relevant det ...

  4. questionHow do I order my free annual credit reports?
    Under the FACT Act (also known as FACTA), all consumers are entitled by law to at least one free credit report every twelve months from each of the three credit bureaus. This important law also marks the first time in history that this information is available from a centralized source (AnnualCr ...

  5. questionIf I apply for an auto or mortgage loan and do multiple inquiries in a short period of time, I won't hurt my credit scores, right?
    This is true. There is logic built within the FICO credit scoring system that treats multiple mortgage and auto inquiries as one search for credit (a.k.a. only one hard inquiry). The goal of this logic is to prevent consumers from being penalized for being aggressive interest rate shoppers and o ...

  6. questionIf I don’t plan to make any big purchases (i.e. house, car) in the next seven years and I clean up my credit during that time, does it really matter that I currently have bad credit?
    Yes, it does. Remember: Your credit can be viewed by your employer(s) and your insurance companies. You can lose out on a job and even have your insurance canceled because of poor credit. Additionally, your existing credit card issuers can view your credit and increase your rates and credit lim ...

  7. questionIs it against the law for a landlord not to rent to you because you have a bad credit score? If so, how bad does your score have to be?
    It’s not illegal for a landlord to deny your rental application because of your credit or credit score. That’s why they pull your credit information: to determine if they want to rent to you or not. It’s perfectly legal for them to use your credit in this way (it's called "perm ...

  8. questionIs my personal data secure when I submit the application for the Credit Report Card?
    Yes, your data is completely secure. Credit.com does not sell, market, or distribute your personal information. See where your credit stands with the first (and only) truly free offer of its kind. Get your Credit Report Card today!

  9. questionIs it bad to pay off credit cards every month (not pay the credit card company any interest)?
    Nope! It’s only bad for the credit card company, since they will make less money off of you (they still make a small amount each time you use your card, but they make this money off of businesses, not you as the consumer). Paying off your credit cards is great for you because you get to us ...

  10. questionHow often do the three credit bureaus report changes to my credit?
    Your three credit scores will change as often as the information in your credit reports change. Because your files are continually updated with new information from your creditors, your credit score from a month ago is probably not the exact same score a lender would get from the credit bureaus ...

  11. questionWhy isn't my FICO credit score free?
    Only Fair Isaac can answer that question, but here are the likely reasons that consumer FICO scores aren't free: Fair Isaac is not required to give away their product for free (the credit reporting agencies, on the other hand, are required by law to give consumers a free copy of their credit re ...

  12. questionI have no credit; what’s the best way to start out?
    A common way to establish credit is to get your parents to add you to one of their credit cards as an authorized user. This may add their accounts to your credit reports, depending upon the credit card issuer’s reporting policy. Another way is to open a few retail store accounts. These ar ...

  13. questionCan I get my Credit Report Card multiple times?
    Yes, every 30 days – and you absolutely should do so to monitor your credit. See where your credit stands with the first (and only) truly free offer of its kind. Get your Credit Report Card today!

  14. questionDoes everybody have a FICO credit score?
    No, definitely not. Your credit report has to have enough information on it to qualify you for a FICO score. If you do not have at least one account that has been open for at least six months, and at least one account that has been updated or active within the last six months, you will not quali ...

  15. questionWhat if I have a joint account with someone and I stop making payments; will that show up on both credit reports?
    Absolutely. If the lender has chosen to report the joint account on both consumer’s credit reports and the payments stop, both parties will have the negative information reported on their credit reports. Not sure where you stand credit-wise? Check your reports and scores online today!

  16. questionWhat can I do to improve my credit scores?
    The short answer to this question is the following: You can improve your credit scores through responsible credit management. That’s what credit-scoring models want to see. This means that you should always pay your bills on time, be sure to keep your revolving (credit card) debt respectab ...

  17. questionDoes FICO scoring take into account my income or my debt to income ratio as part of the score?
    No, it doesn’t. Anything that is not on your credit reports, such as your income or your debt-to-income ratio, does not count in your FICO scores. Your income does not reflect your credit worthiness, your credit risk, or whether or not you will make your payments. You could make a million ...

  18. questionIf I pay off a collection account, will it be removed from my credit report and improve my credit scores?
    Paying off a collection account will not remove it from your credit reports, nor will it improve your credit scores. All that will happen is the balance will be updated to show that the account has been paid in full. The collection will remain in your credit reports and your credit scores will ...

  19. questionWhat is a credit score range?
    The FICO credit score range is 300-850. Your credit scores are generated from models that read the data from your credit reports. These models essentially summarize the information on your credit reports, making it easier for lenders to assess your credit risk and predict whether or not you will ...

  20. questionWhat is a credit risk score?
    Credit risk scores are designed to predict the likelihood that you will pay your bills poorly but not necessarily so badly that you’d end up needing to file for bankruptcy. They are different from bankruptcy scores. Not sure how to handle your debt? Find out more about debt help and services.

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