Credit Industry News

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 […]

Are you aware of how to detect identity theft? You have probably heard the ominous statistics before on the nightly news or maybe you have even read articles online about how identity theft is one of the nation’s fastest-growing crimes. Hopefully, you will never fall victim to an identity thief, but with billions of dollars […]

Guarding Their Future: How to Safeguard Your Child from Identity Theft Do you want to know how to protect your child from identity theft? When it comes to identity theft, it is not only your credit reports and personal information that you need to protect. Your child’s personal information can also be stolen by identity […]

In the midst of all of the stress and emotional turmoil which often accompanies divorce, you may be tempted to ignore the potential danger that a divorce may pose to your credit and opt, instead, to save those problems for another day. After all, you are probably dealing with more pressing issues such as custody, […]

Demystifying the National Consumer Assistance Plan: Essential Details You Need to Know In the spring of 2015 Equifax, TransUnion, and Experian (better known as the 3 major credit reporting agencies) agreed to a landmark settlement agreement. Though originally announced by the attorney general of the state of New York, Eric T. Schneiderman, and shortly thereafter […]

The Difference Between Credit Reports and Credit Scores The credit industry often uses terms and abbreviations which are not fully understood by consumers. To make matters worse, sometimes uninformed members of the news media or even some self-proclaimed “experts” will misuse credit terms and perpetuate credit myths, occurrences which only add to consumer confusion about […]

Welcome to Part 3 of our powerful series, Credit Cards 101. In parts 1 and 2 of this series you have already learned some important information about how properly managed credit card accounts can be very effective tools to help you build better credit. Of course, while well managed credit card accounts can potentially be great for your credit scores, credit card debt can actually wreak havoc upon your credit scores very quickly. For best results (both financially and from a credit score standpoint) it is important to develop the habit of paying off your credit card balances in full each month.

What Your Credit Report Doesn’t Show No one likes a tattletale, and at times that is exactly what a credit report may feel like. Credit reports, after all, can tell future lenders and even potential employers all about your financial past, including any mistakes you may have made. Yet the truth is that your credit […]