Clients often ask me about the “inquiry” section on their credit reports. A significant number of consumers don’t know what the inquiry section is or about the different type of inquiries.
The inquiry section is a listing of all the companies and/or individuals who have asked to see your credit history. There are two types of […]
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Filed under: Credit Reports
In addition to the big 3 credit reporting agencies (Experian, Equifax & Trans Union), there exist some small credit bureaus. You should check your credit reports with the smaller credit bureaus as well as with the big 3. Innovis is an example of one of the smaller credit bureaus. You can request your Innovis credit […]
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Filed under: Credit Reports
Fair Isaac, the developer of the FICO credit score, has made some changes to the way your FICO credit score is calculated. Here are some of the changes: If you are an authorized user on someone else’s credit card, you will no longer benefit from the credit rating associated with that credit card. You’ll now […]
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Filed under: Credit Reports
Many companies that solicit new credit card accounts use prescreening to identify potential customers. Prescreened offers are based upon information in your credit report that indicates you meet the criteria set by the credit card company. There will be inquiries on your credit report showing which companies obtained your information for prescreened offers but these […]
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Filed under: Credit Cards, Credit Reports
If you don’t intend to dispute the parking ticket you received, cough up the money and pay it timely. Tardiness is costly. Many states add hefty late fees to parking tickets that are not paid on time. Some states will tow your car and other states will withhold your state tax refund. Some jurisdictions send […]
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Filed under: Credit Reports, Debt Collection
A security freeze locks access to a consumer’s credit report and credit score. This helps to prevent a thief from using your personal information to obtain credit. If a consumer wants to apply for credit, they use a PIN number to unlock access to their credit report. Victims of identify theft can […]
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Filed under: Credit Reports, Identity Theft
Credit card companies have been adding universal default clauses to the terms of credit card agreements. This will be very detrimental for consumers who are late on even just one payment with a different credit card or loan. The universal default clause allows credit card companies to pull your credit report on […]
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Filed under: Credit Reports