Aug
30
armero asked:
I have several credit cards with high balances that require minimum payments of at least $20.00 and higher. Interest rates are at 20% and higher. I know that banks will bargain with a consumer to lower the interest rates significantly by closing the credit card for use. My question is, isn’t it true that if one closes a credit card, it will look bad on their credit report and have a negative effect? Thanks for the help.
ETHAN
I have several credit cards with high balances that require minimum payments of at least $20.00 and higher. Interest rates are at 20% and higher. I know that banks will bargain with a consumer to lower the interest rates significantly by closing the credit card for use. My question is, isn’t it true that if one closes a credit card, it will look bad on their credit report and have a negative effect? Thanks for the help.
ETHAN
Aug
29
Free Equifax Credit Report
Filed Under Credit | Leave a Comment
Anna Josephs asked:
Equifax credit report agency is one of the three FCRA Company found in 1899. The Equifax credit report is provided by Equifax agency. Equifax has evolved into a leader in enabling and securing global commerce, brining buyers and seller together from all over the world.
The Equifax credit report provides host of solutions which have been made keeping consumers in mind. This helps consumer to empower with all the information, access, educations, and other valuable benefits?
Equifax bureau has been tracking credit report. Equifax credit report gives you all the record of your all past credit payment history and information from the creditors you have done business with.
Equifax has a good reputation through a commitment to protecting the privacy and confidential records of my credit history sent to them by creditors like Visa credit cards. Equifax promotes the accuracy and privacy of all the information’s in the files of the nation reporting consumer companies.
Equifax credit report brings business and consumer together. Along with other credit report companies they form the most popular national report agencies. The majority of your auto and home equity lenders loans are approval based their decision by your credit report score. To get the low interest rate the key is your high and good credit score.
Under Fair Crediting Act (FCRA) Equifax provides you a copy of your credit report at your request once in every 12 months and if don’t received you can take an action. Equifax online sites help many to get their credit report online. One has to fill their online forms with all the correct information and receive your credit report with in a day. With all the correct information fill the form if not your form will get rejected.
Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Free Yearly Credit Report . For more details please contact at annajosephs@gmail.com
GERRY
Equifax credit report agency is one of the three FCRA Company found in 1899. The Equifax credit report is provided by Equifax agency. Equifax has evolved into a leader in enabling and securing global commerce, brining buyers and seller together from all over the world.
The Equifax credit report provides host of solutions which have been made keeping consumers in mind. This helps consumer to empower with all the information, access, educations, and other valuable benefits?
Equifax bureau has been tracking credit report. Equifax credit report gives you all the record of your all past credit payment history and information from the creditors you have done business with.
Equifax has a good reputation through a commitment to protecting the privacy and confidential records of my credit history sent to them by creditors like Visa credit cards. Equifax promotes the accuracy and privacy of all the information’s in the files of the nation reporting consumer companies.
Equifax credit report brings business and consumer together. Along with other credit report companies they form the most popular national report agencies. The majority of your auto and home equity lenders loans are approval based their decision by your credit report score. To get the low interest rate the key is your high and good credit score.
Under Fair Crediting Act (FCRA) Equifax provides you a copy of your credit report at your request once in every 12 months and if don’t received you can take an action. Equifax online sites help many to get their credit report online. One has to fill their online forms with all the correct information and receive your credit report with in a day. With all the correct information fill the form if not your form will get rejected.
Anna Josephs is a freelance journalist having experience of many years writing articles and news releases on various topics such as pet health, automobile and social issues. She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Free Yearly Credit Report . For more details please contact at annajosephs@gmail.com
GERRY
Aug
28
Jon Arnold asked:
Other than eating, sleeping, and breathing, one of the most important things you should be doing on a regular basis is ensuring that the data in your credit report is accurate. That is such a simple statement, yet it is ignored by the vast majority of consumers, probably due to several factors, such as:
* Consumers seem to accept the fact that errors will “self correct” in a reasonable period of time, where in reality nothing could be further from the truth.
* Consumers don’t know how to find out if there is wrong information on their credit report, which impacts their total credit score negatively.
* Consumers don’t realize that having a low credit score (lower than what they deserve, if the information maintained by the credit bureaus was accurate) can impact a huge number of factors in their everyday lives.
* Consumers don’t realize that studies have shown that the MAJORITY of credit reports on consumers and businesses have errors and inaccuracies.
Your credit score is used by anyone loaning you money such as credit card companies, home loan lenders, auto loan lenders and finance companies. You need to find out what your credit score is before you talk to any lender in case there is something on your report that they may question. Your credit score is the actual number ranging from 300 to 850 that lenders use to judge your creditworthiness and the interest rate they’ll charge you. Having a credit score lower than what you actually deserve could mean the difference between getting approved for a loan or credit card, or being denied. If you are approved, a lower credit score can mean the difference of the lender assessing a 14% interest rate or a 6% interest rate, which can cost you hundreds and even thousands of dollars more at the end of the loan period.
The “big three” credit bureaus are required to give you a free copy of your credit report annually, or any time that you have been denied credit based on information that they provided to a potential lender. It may take some time to get through to the credit bureaus to request a copy of your credit report, but this is well worth your time to do so. Be sure to get a copy of it from all three of them, since some lenders only report to one or two of them. This means that the information on your credit report from one credit bureau is almost certainly not going to be identical to the data from another credit bureau.
If you notice any errors on your report, you should complete a dispute form with the credit bureau. When they send you a copy of your credit report, they will usually include instructions on how to file a dispute for erroneous or inaccurate information. Some experts say that if you are disputing say 5 different items, you should file 5 separate dispute forms so each one can be addressed specifically. There is some merit to that discussion, since the credit bureaus may view a dispute consisting of many items as “frivolous” and not take appropriate action to correct the information.
Under the Fair Credit Reporting Act, you can dispute information in your credit files with the three credit bureaus, and the creditor is required by law to verify the disputed information. You have the right (and indeed, the obligation) to dispute the completeness and accuracy of information in your credit files. When a credit bureau receives a dispute, they must investigate and record the current status of the disputed items within a “reasonable period of time”, usually defined as 30 days. If the information reported on your credit report cannot be verified by the creditor, the credit bureau is required by law to remove the information.
Check your credit report regularly, at least once per quarter. Even if the creditor misses that 30 day window, they can report the information again later, at which point when you see it appear again, you can (and should) dispute it again. Sometimes, for blatantly wrong information, you may want to contact the creditor directly and find out why they insist on putting inaccurate information on your credit report.
DARRYL
Other than eating, sleeping, and breathing, one of the most important things you should be doing on a regular basis is ensuring that the data in your credit report is accurate. That is such a simple statement, yet it is ignored by the vast majority of consumers, probably due to several factors, such as:
* Consumers seem to accept the fact that errors will “self correct” in a reasonable period of time, where in reality nothing could be further from the truth.
* Consumers don’t know how to find out if there is wrong information on their credit report, which impacts their total credit score negatively.
* Consumers don’t realize that having a low credit score (lower than what they deserve, if the information maintained by the credit bureaus was accurate) can impact a huge number of factors in their everyday lives.
* Consumers don’t realize that studies have shown that the MAJORITY of credit reports on consumers and businesses have errors and inaccuracies.
Your credit score is used by anyone loaning you money such as credit card companies, home loan lenders, auto loan lenders and finance companies. You need to find out what your credit score is before you talk to any lender in case there is something on your report that they may question. Your credit score is the actual number ranging from 300 to 850 that lenders use to judge your creditworthiness and the interest rate they’ll charge you. Having a credit score lower than what you actually deserve could mean the difference between getting approved for a loan or credit card, or being denied. If you are approved, a lower credit score can mean the difference of the lender assessing a 14% interest rate or a 6% interest rate, which can cost you hundreds and even thousands of dollars more at the end of the loan period.
The “big three” credit bureaus are required to give you a free copy of your credit report annually, or any time that you have been denied credit based on information that they provided to a potential lender. It may take some time to get through to the credit bureaus to request a copy of your credit report, but this is well worth your time to do so. Be sure to get a copy of it from all three of them, since some lenders only report to one or two of them. This means that the information on your credit report from one credit bureau is almost certainly not going to be identical to the data from another credit bureau.
If you notice any errors on your report, you should complete a dispute form with the credit bureau. When they send you a copy of your credit report, they will usually include instructions on how to file a dispute for erroneous or inaccurate information. Some experts say that if you are disputing say 5 different items, you should file 5 separate dispute forms so each one can be addressed specifically. There is some merit to that discussion, since the credit bureaus may view a dispute consisting of many items as “frivolous” and not take appropriate action to correct the information.
Under the Fair Credit Reporting Act, you can dispute information in your credit files with the three credit bureaus, and the creditor is required by law to verify the disputed information. You have the right (and indeed, the obligation) to dispute the completeness and accuracy of information in your credit files. When a credit bureau receives a dispute, they must investigate and record the current status of the disputed items within a “reasonable period of time”, usually defined as 30 days. If the information reported on your credit report cannot be verified by the creditor, the credit bureau is required by law to remove the information.
Check your credit report regularly, at least once per quarter. Even if the creditor misses that 30 day window, they can report the information again later, at which point when you see it appear again, you can (and should) dispute it again. Sometimes, for blatantly wrong information, you may want to contact the creditor directly and find out why they insist on putting inaccurate information on your credit report.
DARRYL
Aug
26
jamiehanson asked:
For most people, credit reports are quite a mystery and are hard to understand. But regular checking of your credit report will help you to keep the information accurate and available when you need to pull your credit report to obtain credit. This sampling of credit report related terms are pulled from the Glossary of Finance Terms available on RateNerd.com. Credit Limit/Line of Credit: In open-end credit, the maximum amount a borrower can draw upon or the maximum that an account can show as outstanding, and is shown on a credit report. Credit items: Information reported by current or past creditors on a credit report. Credit Report: A report documenting the credit history and current status of a borrower’s credit standing. This confidential credit report on a consumer’s payment habits as reported by their creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the credit report. Credit reports may be viewed by companies issuing credit (credit cards, auto loans, mortgages and so on), and many others including prospective employers, land lords, insurance companies, utility companies and more. It is vital for consumers to check their credit report regularly and to correct any errors. Credit Score: A credit risk score is a statistical summary of the information contained in a consumer’s credit report. The most well known type of credit risk score is the Fair Isaac or FICO score. This form of credit scoring is a mathematical summary calculation that assigns numerical values to various pieces of information in the credit report. The overall credit risk score is highly relative in the credit underwriting process for a mortgage loan. Another popular score is the Beacon score. Credit Scoring: Tool used by credit grantors to provide an objective means of determining risks in granting credit. Credit scoring increases efficiency and timely response in the credit granting process. Credit scoring criteria is set by the credit grantor. Creditworthiness: The ability of a consumer to receive favorable consideration and approval for the use of credit from an establishment to which they applied, mainly determined by the credit score and credit report. Fair Credit Reporting Act (FCRA): A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one’s credit report. Identity theft (ID Theft): Identity theft is a crime in which an imposter obtains key pieces of personal information, such as Social Security or driver’s license numbers, in order to impersonate someone else. The information can be used to obtain credit, merchandise, and services in the name of the victim, or to provide the thief with false credentials. Identity theft has become rampant over the past decade, and is difficult to repair. Unfortunately, the victim is generally treated as guilty until proven innocent. Identity theft can be thwarted by careful retention of records and one of several services which monitor for suspicions activity on their credit report. Credit reports, credit scores and credit histories are important to maintain if you want to obtain credit. Check the resources at RateNerd.com for more information.
WELDON
For most people, credit reports are quite a mystery and are hard to understand. But regular checking of your credit report will help you to keep the information accurate and available when you need to pull your credit report to obtain credit. This sampling of credit report related terms are pulled from the Glossary of Finance Terms available on RateNerd.com. Credit Limit/Line of Credit: In open-end credit, the maximum amount a borrower can draw upon or the maximum that an account can show as outstanding, and is shown on a credit report. Credit items: Information reported by current or past creditors on a credit report. Credit Report: A report documenting the credit history and current status of a borrower’s credit standing. This confidential credit report on a consumer’s payment habits as reported by their creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the credit report. Credit reports may be viewed by companies issuing credit (credit cards, auto loans, mortgages and so on), and many others including prospective employers, land lords, insurance companies, utility companies and more. It is vital for consumers to check their credit report regularly and to correct any errors. Credit Score: A credit risk score is a statistical summary of the information contained in a consumer’s credit report. The most well known type of credit risk score is the Fair Isaac or FICO score. This form of credit scoring is a mathematical summary calculation that assigns numerical values to various pieces of information in the credit report. The overall credit risk score is highly relative in the credit underwriting process for a mortgage loan. Another popular score is the Beacon score. Credit Scoring: Tool used by credit grantors to provide an objective means of determining risks in granting credit. Credit scoring increases efficiency and timely response in the credit granting process. Credit scoring criteria is set by the credit grantor. Creditworthiness: The ability of a consumer to receive favorable consideration and approval for the use of credit from an establishment to which they applied, mainly determined by the credit score and credit report. Fair Credit Reporting Act (FCRA): A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one’s credit report. Identity theft (ID Theft): Identity theft is a crime in which an imposter obtains key pieces of personal information, such as Social Security or driver’s license numbers, in order to impersonate someone else. The information can be used to obtain credit, merchandise, and services in the name of the victim, or to provide the thief with false credentials. Identity theft has become rampant over the past decade, and is difficult to repair. Unfortunately, the victim is generally treated as guilty until proven innocent. Identity theft can be thwarted by careful retention of records and one of several services which monitor for suspicions activity on their credit report. Credit reports, credit scores and credit histories are important to maintain if you want to obtain credit. Check the resources at RateNerd.com for more information.
WELDON
Aug
25
how often can I apply for credit cards?
Filed Under Credit | 7 Comments
dghost asked:
Hi, I just applied for a citi credit card and It was denied…
I am new here in the US, since January 2008, and I bought a car on March, and because of my car loan my credit started to run. The reason they didn’t approve my CC was: “The consumer reporting agency serving your area has reported only a limited credit history for you.”
Which credit card should I apply for? And when should I apply for? Because I’ve been reading and they say it’s not a good idea to apply too often..
Thanks
ANGEL
Hi, I just applied for a citi credit card and It was denied…
I am new here in the US, since January 2008, and I bought a car on March, and because of my car loan my credit started to run. The reason they didn’t approve my CC was: “The consumer reporting agency serving your area has reported only a limited credit history for you.”
Which credit card should I apply for? And when should I apply for? Because I’ve been reading and they say it’s not a good idea to apply too often..
Thanks
ANGEL