A credit inquiry is an item on a credit report that shows a business with a “permissible
purpose” (as defined under the federal Fair Credit Reporting Act) has previously requested
a copy of the report.
When you check your credit report, you may notice that a number of credit inquiries
have been made, sometimes from businesses that you don?t know. But the only inquiries
that cou (more…)
As a consumer you’ve learned the importance of establishing a good credit rating with
your lenders. Whether you are shopping for a new home or auto, or searching for the
best deals on insurance, your credit worthiness will be judged by your credit rating
or credit score.
A bad credit history or bad credit habits will place “black marks” on your credit
profile. These include th (more…)
It’s easy to think that bad credit is no problem from the advertisements in the media.
However, have you ever examined the fine print on those “easy credit” ads? You’ll
discover that people with bad credit and bankruptcies are paying twice, three times,
even four times the amount of interest that a person with good credit pays.
By getting the lowest possible interest rates, you save (more…)
On March 14, 2006 the nation?s three main credit bureaus sent out a press release
announcing that they have adopted a new credit scoring system. This new scoring
system is not a whole lot different then the old FICO scoring system, but there are
differences. The FICO scoring system had a different algorithm to compute the
credit score for each bureau. The FICO scoring system also had a different range (more…)
