Term: credit reports
20 found

Big Changes to Credit Reports Are on the Way: What It Means for You

By Steven Shaw on 5/21/2015

Settlement Means Big Changes to Credit Reports Are on the Way: What It Means for You

Attorneys general in 30 states have reached a $6 million settlement with the major credit reporting agencies Equifax, Experian and TransUnion to make changes in the way they address errors in consumer reports and how some negative information is added to credit reports. The agreement is very similar to one announced March 9 by the attorney general of New York. The Consumer Data Industry Association, which represents the bureaus, says the new settlement is just more states joining the initiative announced in New York in March.

credit 101
credit reports
Disputes

Millions With Credit Problems Can Now Get Free Credit Scores

By Steven Shaw on 4/23/2015

Millions of People With Credit Problems Will Now Have Access to Free Credit Scores

Millions of Americans working with nonprofit credit counselors will have free access to their FICO credit scores as part of a new agreement between FICO and the three major credit reporting agencies, Equifax, Experian and TransUnion. The Consumer Financial Protection Bureau announced the agreement in an April 21 blog post, saying that this change will allow counselors and their clients have more informative, productive conversations about how to improve clients’ credit standings.

credit reports
credit score
credit scores
FICO credit score
FICO Score
free credit score
managing debt

5 Things You Absolutely Need to Find in Your Credit Reports

By Steven Shaw on 3/6/2015

find in your credit report

You probably already know it’s a good idea to review your credit reports and your credit scores. But what happens when you get a copy of your credit report and you aren’t sure what to make of it?

credit reports
debt usage ratio
Dispute

Add a Credit Check to Your New Year To-Do List

By Steven Shaw on 1/12/2015

Add a Credit Check to Your New Year To-Do List

If you’re like me and you spend the beginning of the year setting up all those appointments and updating lists of tasks that have to be done on an annual basis (like checkups, turning the mattress and replacing the batteries in smoke detectors), I have another item to add to your list: a credit checkup.

The start of a new year is a great time to check your credit reports and set yourself up for a worry-free year of healthy credit, or to set up a plan to reach specific credit goals. Follow the steps below to perform your annual credit checkup. (I promise it won’t be as uncomfortable as your dental exam!)

AnnualCreditReport.com
Credit Check
credit reports

Does Bad Credit Last Forever?

By Steven Shaw on 11/6/2014

bad credit

 There’s no sugarcoating it: Going through foreclosure, bankruptcy or debt collection is unpleasant. When going through financial problems, it may seem like things are far from getting better, including your credit score, but having a few bad marks on your credit history doesn’t mean you’ll never bounce back. Eventually, negative items will age off your credit report, and you don’t have to wait for a clean slate to rebuild your credit standing.

bad credit
credit reports
credit score
rebuild credit

How Do Credit Report Errors Happen?

By Steven Shaw on 9/4/2014

credit report errors

If you have seen wrong information on your credit report – and plenty of people have – you’ve probably wondered how it got there. After all, if the statements you get from your lenders are accurate, shouldn’t your credit reports be? Credit reporting agencies manage billions of pieces of information about our credit histories, though, and there are several ways mistakes can happen.

credit report
Credit Report Errors
credit reports

The Most Misunderstood Part of Your Credit Report

By Steven Shaw on 9/2/2014

credit report

If you’ve checked your credit reports or reviewed your credit scores recently, you probably noticed the section of your credit report called “inquiries,” which lists the names of companies that have reviewed your report recently.

credit report inquiries
credit reports
Inquiries
Inquiry

5 Ways to Get Things Off Your Credit Report

By Steven Shaw on 6/24/2014

off your credit report 

Negative information on your credit can be extremely frustrating. You know it’s not good, and you just want it to go away. Before you pull your hair out or spend thousands of dollars trying to repair your credit, you’ll want to understand the ways this kind of information can be removed from your reports.

CFPB
Consumer Financial Protection Bureau
credit report
credit reports
Dispute

Where Did Credit Reports Come From?

By Steven Shaw on 5/1/2014

credit report origin  

We may be in an age of Big Data, but collecting information on consumers is nothing new. Credit reporting goes back to the late 1800s, when it was just a couple of guys going from door to door, asking merchants to describe the customers who had credit at their stores. The technical, sometimes-long files we now know as credit reports started out as a few notes in a ledger that said something like, “Reliable,” “Slow to repay” or “Won’t pay, but father will cover debt.”

CFPB
credit reports
Equifax
Experian
TransUnion

What Your Credit Reports Won’t Tell You

By Steven Shaw on 4/24/2014

What Your Credit Reports Won't Tell You 

A credit report is a pretty simple concept: It’s a report on your past use of credit and loans. That part is generally pretty easy for people to grasp. It’s some of the other stuff on the report — and the stuff that’s not on the report — that confuses some and leads to misunderstanding the credit report’s purpose.

credit report inquiries
credit utilization rate
Credit Inquiries
credit report
credit reports
credit score
credit scores
Inquiries
Reasons for Inquiries