Credit Industry News

Think you have just 1 credit score? How about 3 credit scores? If you believed either of these previous statements to be true then you may be in for a bit of a shock. The truth is that you actually have hundreds of different credit scores, and that is no exaggeration.

When it comes to maintaining a good credit rating paying your bills on time is a must. However, what happens when a simple mistake is made and you forget to send in a payment by the due date?

Being a credit user, you have Rights of the Fair Credit Reporting Act to protect your private data and prevent credit fraud. Here are some of those rights. 

If you’ve never heard of a credit freeze, or if you don’t know the benefits of a credit freeze, then you’re in luck. We’re about to introduce to you possibly one of the most effective protection solutions for identity theft.

Auto Loans – 4 Surprising Myths and the Truth Auto loans are the loans provided by vendors for buying a new or used vehicle by pledging the vehicle itself as collateral. When a borrower is about to secure a loan or pay off their debts, they come to face enough myths regarding auto loans. Though […]

Fair Credit Reporting Act – 6 Things To Know Credit reports can often be the source of a lot of stress. The previous statement is especially true if you are currently battling bad credit or if there are errors on your credit reports. Even if the credit problems you are facing are not your fault, […]

Worried about your current credit situation? Concerned that you’re going to be doomed for the rest of your life because of mistakes you made in the recent past? Don’t be. Know how far back does credit reports go? Your credit report simply serves as a useful guide for lenders to understand what kind of debt history […]

Surprising Factors That Impact Your Credit Score We all know that your credit score goes down when you’re generally irresponsible with debt. But even if you’re as responsible as you can be, your credit score could take a hit! Here are 5 unusual things that affect credit score. Thing 1: Forgotten credit cards affect credit […]

A debt statistics survey says that nearly 80% of Americans have Debt. People share information at incredible speeds without knowing its authenticity and unknowingly spread false information to people around them, and the same is true for the concept of Debt Consolidation. This article focuses on how to differentiate between the facts and myths about debt […]

If you’re just getting started on your financial journey, one of the most important things you will need to know is how to establish new credit without a credit history. This is also called ‘building credit’. However, it helps to understand what credit is, why you need it, and what you can do with it. […]

The title of this article actually features a big mistake. The mistake is the idea that you only have 3 credit scores and it is one of those credit myths which resurfaces over and over again. In truth while you do only have 3 credit reports, one from each of the 3 major credit reporting agencies (Equifax, TransUnion, and Experian), you really have hundreds of different credit scores.

Does the Collection Account Raise Credit Scores? When it comes to questions regarding your credit scores, more often than not there is no simple answer. Rather, the answer to most credit scoring questions is the frustratingly ambiguous, “It depends.” If you are wondering whether or not paying off an outstanding collection account will raise your […]