Personal Finance: Lenders must disclose rejection reasons
News from Sacramento Bee:

If you’re not feeling a lender’s love, you’ll soon know exactly why you got jilted.

Starting Thursday, if a lender denies you a credit card, a car loan or other loan product based on your credit score, you’re entitled to a free copy of that score. You’ll also get a list of the reasons why you got rejected. Ditto if you get a less-than-favorable interest rate on a new loan.

Some credit experts call the new disclosure rules a historic change in how consumers are treated by lenders.

It’s all part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Congress enacted last year to give consumers more clarity in their financial life. The legislation also created a new Consumer Financial Protection Bureau, which officially springs to life on Thursday as well.

The bureau’s mission is to ensure that consumers know exactly what they’re getting with mortgages, credit cards, loans and other financial products. Or as the bureau’s fledgling website (c…………… continues on Sacramento Bee
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How to Use Credit Cards to Improve Your Credit Score
News from Benzinga:

It is common knowledge that you need a good credit score in order to get a reasonable interest rate on a loan. However, it isn’t necessarily easy to get a good credit score. It takes years of sound financial planning and thoughtful borrowing habits to achieve that goal. You can help the process along by using certain methods which, if used patiently and for an extended period of time, can contribute to a high credit score. Following are a few suggestions on how to use credit cards to improve your credit score.

Use Your Cards the Right Way

Unfortunately the misuse of credit cards is what gets a lot of people into a credit mess in the first place. If you want to improve your credit score it is possible to do it by using credit cards, but you must use them the right way. Credit cards in and of themselves are not dangerous or evil, but using them unwisely can lead to all sorts of trouble. If you owe a lot of money on a credit card and want to pay off the d…………… continues on Benzinga
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