Posts Categorized: Credit Report

Big changes are underway with regard to credit reporting, and those changes will impact how credit scores are calculated. These changes appear across the board to be good for consumers. The reform is a voluntary effort by the 3 major credit bureaus—Experian, Equifax, and TransUnion—and it’s called the “National Consumer Assistance Plan”. This idea has…

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Do you want to close a credit card account but are unsure how it will affect your credit score? There are many reasons why we may want to close a credit card, such as avoiding annual fees, too many fees, high interest rates, or unsatisfactory customer service. Whatever the reason, please review the following to determine what is best for you:

The Fair Isaac Corporation FICO™ states “They would never recommend closing a credit card for the sole purpose of raising the score.”

Consumer credit reports can vary in the way they look and the order information is listed depending on which of the three major national credit-reporting bureaus provided the report.   Consumers can obtain their free credit reports once every 12 months at www.annualcreditreport.com. If you believe that there is inaccurate information on your credit report, it’s…

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We’ve talked about credit scoring a lot, and even created an infographic to break down “What is a good credit score?”. In that article, we identify 680 as the threshold for “good” credit, meaning a good credit score range is 680-850. As we discussed in a recent article on credit score levels, The ranges vary…

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Credit Score Levels

We’ve written here often about credit scores and what various credit score levels say about you. Our infographic “What is a good credit score?” gives a breakdown of scores from 300 to 850, with this rough set of guidelines: 300-550: Poor credit 550-620: Subprime 620-680: Acceptable 680-740: Good credit 740-850: Excellent When we originally created…

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