Five Tips for Dealing With a Declined Credit CardNews from Fox Business:Credit cards can cut you off for a variety of reasons. Here’s what to do in response.
1Your card was declined, but why?
What are five words you never want to hear from a waiter?
“Your credit card was declined.”
It happens all the time for a variety of reasons. You may be over your credit limit. Your credit score may have dropped, or the credit card company may suspect that the card is being used fraudulently.
And it gets worse from there. That sliver of plastic […] Continue Reading…
10 Facts You Might Not Know About Your Credit ScoreNews from Benzinga:
It’s probably the most important number in your financial life. However, most people don’t know theirs.
The number is your FICO score, also known as your credit score. Developed by Fair Isaac Corporation (NYSE: FICO), the number is based on points assigned to each of five categories: credit history, payment history, accounts owed, types of credit used and new credit.
The score ranges from 300 to 900 with most people falling between 500 and 700. The higher the score, the better.
Here are 10 things you […] Continue Reading…
Paying off loans may not improve credit scoresNews from MSN Money:
This post comes from Deanna Templeton at partner site Credit.com.
With credit playing such a huge factor in your financial future, it’s no wonder we look for ways to maximize our credit scores. One common strategy for building your credit scores is to pay off credit card debt. It can give your credit scores a nice boost, especially if you’re carrying a large balance.
It may seem logical, then, to assume that the same strategy must apply to other types of accounts — like a car or […] Continue Reading…
Northern California cities top the chart with highest credit scoresNews from e-wisdom.com:
San Jose & San Francisco rank highest
Two metropolitan areas in northern California ranked highest in a recent study conducted by TransUnion that revealed metropolitan areas with the highest and lowest credit scores.
According to TransUnion, the metropolitan area consisting of San Jose, Sunnyvale and Santa Clara ranked highest of any metropolitan area in the U.S. with an average credit score of 700.
The metropolitan area consisting of San Francisco, Oakland and Fremont took second place in the ranking of highest credit score with an average […] Continue Reading…
One in 5 Credit Reports FlawedNews from HispanicBusiness.com:
Most people don’t check their credit scores, but millions of Americans’ credit reports contain mistakes that can affect their ability to qualify for a loan or make credit more expensive to obtain, according to a new government study released Monday.One in five consumers, or about 40 million people, have an error on at least one of their credit reports from the three main credit rating bureaus. Errors could cause them to pay more for financial products such as auto loans, mortgages or insurance, according to a U.S. […] Continue Reading…
Why You Should Check Your Credit Reports Each YearNews from Kiplinger Personal Finance:
Luckily, I’ve never found a major error on my credit reports over the years. However, once I did discover that my deceased father was listed as my husband on one of my reports — a little creepy but not something that would drag down my credit score.
SEE ALSO: How to Fix an Error on Your Credit Report
As I said, I’ve been lucky. That’s because a study by the Federal Trade Commission released on February 11 found that one in four consumers had […] Continue Reading…
Soon, there will be scores to check credit card fraudsNews from Economic Times:MUMBAI: Soon, there will be scores on the lines of credit scores to check credit card frauds. In view of the recent instances of credit card frauds, the National Payments Corporation, backed by the Reserve Bank of India, is prodding banks to sign up for a software that would map customer spending and throw up alerts.The software would generate scores based on the historical spending habits of a customer, such as the amount, the variety of outlets and the frequency, among others, […] Continue Reading…
New Year, New Credit Report CheckNews from Fox Business:
We are more than a month into the New Year, which means you have another opportunity to review your credit reports for free. By law, each year U.S. consumers are allowed to download one free copy of each of their credit reports so they can review the reports for errors. This helps you avoid mistakes and discrepancies that damage credit scores.
A recent study found one in four credit reports contain some type of mistake so annual score check’s are vital to keep your financial health intact.
You […] Continue Reading…
Check With Your Credit Union First For the Best Auto Loan DealNews from Credit Unions Online:
Throughout the financial crisis the majority of Americans hung onto their car, concerned that purchasing a new vehicle would add another payment to their monthly expenses.
However now with rates lower than ever and the economy showing signs of life, 2013 is being considered to be the ideal year to spring for a new automobile.
Greg McBride, senior financial analyst at Bankrate.com tells USA Today that, “We’ve never seen rates this low” coming from both banks and credit unions. McBride adds […] Continue Reading…
How To Raise Your Credit Score 100 PointsNews from TheStreet.com:
If you are preparing to apply for a new credit card or a loan, you’ll want to achieve the highest credit score possible. While FICO cannot provide an exact correlation between individual actions and specific points earned because there are so many variables in each credit score, there are steps you can take that will tend to raise your score. Some of these steps will have an almost immediate impact, while others may raise your credit score by as much as 100 points over time.
Check […] Continue Reading…