This holiday season, many people pull out their credit cards to purchase Christmas gifts. Some people are lured into opening store credit cards to “save 10%” or receive “no interest ’til 2012″ or something like that. While you are in the shopping mode, you may not be thinking about how this affects your credit report [...]
The holidays are a joyous time of year, but many Americans overspend on gifts and celebrations. The overspending can cause serious harm to your credit score. The good news is that this is the best time of year to improve your credit score. Here are some tips to protect and improve your credit score: 1. [...]
When you look at your credit reports, do you have a difficult time deciphering what is helping you and what is hurting you on your credit report? Here are some things to look for on your credit report: Delinquent Accounts This includes accounts that were inaccurately reported as delinquent as well as those that were [...]
If you are thinking about buying a home, it is often a good idea to check out your credit first. You should probably check your credit several months before you plan to buy a home to ensure you have time to take care of any problems with your credit. If your scores are so low [...]
Credit Reports generally contain five types of information: Identification Information Information such as the name of the individual, current and previous addresses, and Social Security number. Trade Line Information Detailed information reported by creditors on each current and past loan, lease, or other debt (such as utility and medical debts). Public Record Information Information derived [...]
It is important to check your credit reports several times a year so that you know if there are any mistakes on your report and also to catch any fraudulent use of your credit. If you apply for credit or a loan, records of your previous dealings with money are vital. Whether you get the [...]
It’s easy to make mistakes when it comes to your credit. Some mistakes are worse than others. Since your financial future depends on what your credit report says about you, there are some things you do want on your credit report. If your credit report contains any of these items, contact Trinity Credit Services at [...]
Have you been thinking about what you’d like to change for the New Year? Many New Year’s resolutions involve improving health or getting rid of a bad habit. In addition to making those positive resolutions, also consider how much your life would improve if you also resolved to improve your financial health. Get Your Free [...]
10% of your credit score is determined by the number of inquiries made for your credit report. Credit inquiries are placed on your credit report each time a business requests a copy of your credit report. The Fair Credit Reporting Act (FCRA) requires businesses to have an acceptable reason for accessing your credit report. Some [...]
You may be wondering how long it takes for credit report information to be updated. When you have a good credit score, credit is available to you and the rates that are charged for the credit will be low. When you have a bad credit score, credit is harder to get and the interest rate [...]
A question we get asked all the time is “How much will my credit score go down if I have a bankruptcy on my credit report?” In the past, we had no way of knowing exactly how much the score would change. FICO has kept their proprietary scoring methods under wraps—until now. They have revealed [...]
Whenever you apply for a loan, your lender/creditor checks your credit report to predict your creditworthiness. It is advisable to check your credit report at regular intervals to see if you have any errors and get them fixed. Annually you should review your credit reports and verify the following information: – Your social security number [...]
In efforts to prevent you from becoming a victim of “good credit gone bad”, you need to work to keep your credit in good standing. If you don’t work at maintaining excellent credit, you may find yourself with credit denials and collection phone calls. If you are faced with a dropping credit score, the first [...]
You finally got an interview for the jobs of your dreams. Your background and experience are perfect and your references are impeccable. You hope for an offer soon. Then the hiring manager says they just need to do one more thing: run a credit check. Oh no! Depending on the kind of position you’re looking [...]
Credit Scores The big three Credit Bureaus (Trans Union, Experian, Equifax) do not share information with one another. Differing scores between the three credit bureaus can result from one bureau reporting information that is not reporting with another credit bureau. If your credit scores vary between the three bureaus by more than 50 points, this [...]
Facts about the U.S. credit economy – There are over one billion credit reports issued annually – Two-thirds of the American economy is driven by consumer spending – Outstanding consumer credit totals $1.7 trillion – Credit reporting saves the average person 200 basis points on their mortgage loan – On average, every U.S. household owns [...]
If you are looking at your credit report, you may be wondering what the number ratings indicate. The following list shows the ratings used in credit reports and will assist you in the process of understanding your overall credit rating and what credit report items you should consider disputing with the credit bureaus. Number Rating [...]
Obviously making late payments or missing payments altogether is going to wreck your credit score. Fortunately, not all missed and late payments are counted equally. The FICO score weighs missed and late payments by several criteria, including recentness, how late a payment was and the frequency of missed or late payments. Recentness has the most [...]
Did you know that more than 70% of all credit reports contain errors? That is why it is so vital to review your credit reports at least once a year. If you find errors on your report, you can try to dispute them yourself. You may get some good results, but if you want the [...]
Did you know that not paying overdue book fines at the library can hurt more than your book-borrowing privileges? It can damage your credit score, as well as unpaid parking tickets. Public institutions can use credit to get people to pay their fines and fees. If someone has unpaid parking tickets, it could be killing [...]
Your credit score is a “snapshot” of your risk at a particular point in time. It changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit. For example, past credit problems impact your score less as time passes. Lenders request a [...]
Your credit score is one of the most important factors used to decide whether you will qualify for a major loan and what its terms will be. Every day, many would-be borrowers are denied loans, while consumers with strong credit histories are getting great rates on mortgages, car loans and student loans. Understanding how your [...]
Unfortunately, legitimate credit repair and restoration companies have taken a lot of heat over the last decade because some organizations made false claims and often times did nothing to help consumers. The FTC and state attorney generals have been working hard to remove the bad companies and to make sure the good ones are operating [...]
Research conducted by US Public Information Research Group in Washington, D.C. finds that: 29% of credit reports contain serious errors, false delinquencies, or accounts that did not belong to the consumer. 41% of credit reports contain demographic information that was misspelled, outdated or incorrect. 20% of credit reports were missing major credit, loan, mortgage or [...]
Most people think about their credit score when they are trying to get approved for credit. Maybe they are applying for a credit card or trying to get a home loan. A lower than average score is a red flag to lenders that you are more likely than to be late on your payments or [...]
In a study by the Fair Isaac Corporation, it was discovered that 49% of the people polled did not understand that credit scores measure their credit risk. Chances are you too may not know how your score affects your life. Your credit score follows you everywhere. Your credit score determines: For which types of credit [...]
Your credit score determines if you will get approved for credit and at what interest rates. In order to save money, it is important to try to improve or maintain your credit score. If you need credit restoration, please contact Trinity Credit Services at 1-888-669-7372 for you FREE Credit Report Evaluation. Payment History Tips Pay [...]
You know the effects of bad credit. You have to rent instead of own. You have trouble getting approved for real estate mortgages and other financing. You sweat when the car dealership looks up your credit because you know you either won’t get approved or you will have to pay high interest rates. You have [...]
Many consumers are under the impression that there is nothing that can be done to change the information on their credit report. Thankfully, this is not true. We demand the validation and verification of derogatory information using the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Fair and Accurate Credit Transaction Act [...]
Most “credit repair” companies have a one-step system where they send out one form letter to each of the credit bureaus. You can do this yourself. The problem with this method is that there is only about a 10% chance anything will be removed. If an item does get removed, it will likely put put [...]
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