Term: credit 101
14 found

How to Build Credit Without Going Into Debt

By Steven Shaw on 7/7/2016

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Unless you were born in some remote location and lived off the grid your entire life, it’s not news to you that good credit is needed to function in today’s society. Your credit history is what indicates your trustworthiness to lenders, stores, and even employers and landlords. Bad credit or no credit is a major barrier preventing some from attaining good interest rates or securing a new lease agreement, among other things. There’s really no point in me stressing the utter importance of having a good credit score. That’s a given. But for those of you who fear having outstanding loans, balances on credit cards, or debt of any kind, how does one achieve good credit?

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build credit
credit 101

Does Everything on My Credit Report Affect My Credit Scores?

By Steven Shaw on 5/27/2016

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Credit reports, as you’ve no doubt heard, are tremendously important. After all, the information on them dictates your credit scores, which, in turn, dictate whether you’re able to readily score things like a mortgage, auto loan, credit card and even affordable insurance or cellphone plans.

But not every piece of information on that crucial report carries weight.

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credit report
credit score

2 Bureaus Corrected My Credit Report, But the Third Won’t. What Can I Do?

By Steven Shaw on 9/11/2015
financial frustrationsOne of the most common concerns we hear from readers is that their credit report contains errors or information they don’t understand or recognize. There are a number of reasons wrong information could be on your credit report, but the solution is often to dispute the information with the credit bureaus to get it removed from your report. But for some consumers, the problem doesn’t end there.
credit 101
credit report
Credit Report Errors

Why Does My Credit Card Limit Affect My Credit Score?

By Steven Shaw on 7/14/2015

Why Do My Credit Limits Affect My Scores?

Occasionally we get questions from readers who have gotten an automatic credit limit increase, and they wonder if there is a downside to accepting it. Or they close a little-used account and their credit scores go down, even though they are using cards and paying them off exactly as they had been.

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Credit Card Limit
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What to Do If You Can’t Get Your Free Annual Credit Report

By Steven Shaw on 7/8/2015

What to Do If You Can't Get Your Free Annual Credit Report

Let’s talk about free credit reports. First of all, the big question: Are they really free? Yep. Federal law requires the three major credit reporting agencies — Equifax, Experian and TransUnion — to give consumers a free copy of their credit reports every year (here’s how to get yours). You can get credit reports from many places, but AnnualCreditReport.com is the only website where you can get the ones you’re entitled by federal law to receive for free.

6 Mistakes You Make When You Check Your Credit

By Steven Shaw on 6/5/2015

6 Mistakes You Make When You Check Your Credit

You may know that if you apply for a credit card, loan, a place to live or perhaps a job, there will be a credit check. But do you know what someone reviewing your credit will find? You can have at least an idea of the answer if you check your own credit first. Doing so won’t affect your credit scores, so that’s not a worry. Still, there are some common mistakes consumers make when they check their credit.

credit 101
Credit Check
credit report
credit score

How Late Can I Pay a Bill Before It Hurts My Credit?

By Steven Shaw on 5/22/2015

How Late Can I Pay a Bill Before It Hurts My Credit?

It’s irritating to run across a bill and to realize it was due yesterday… or last week. If it’s a credit card bill, you may also have to pay a fee (sometimes, if it’s a rare slip-up, you can get it waived), and it can be especially scary to find an overdue bill if you have applied for credit or plan to in order to make a big purchase, like a house or vehicle. Readers often ask us how late a payment has to be before their creditors report it to the credit bureaus:

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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.

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Disputes

When’s the Right Time to Pull My Credit Reports?

By Steven Shaw on 3/19/2015

pull my credit report

A close friend recently asked me for advice about reviewing her credit reports and credit scores. A few years ago, when she got a mortgage, her scores were very good — in the 800s — but she has since had a run-in with a department store card that she fears may have had a negative impact on her credit. So it’s smart for her to find out what’s going on.

AnnualCreditReport.com
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credit report

Can You Get a Perfect Credit Score?

By Steven Shaw on 1/7/2015

perfect credit score

So you’re a little ambitious — competitive, maybe — and the idea of a good credit score seems a little, well, tame. You want a perfect credit score. But is that even possible?

Shantai Dixon is hoping so. She wrote recently on the Credit.com blog:

Is it possible to get a credit score to reach “perfect” (850 score) if there has already been a blemish to the score?


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