1) Checking your credit score/history will negatively affect you This is incorrect. Personal inquiries are considered “soft inquiries”, and soft inquiries do not count against you. Soft inquiries are not part of an individual’s credit score calculation. Check your own score all you want, it will not hurt you. 2) Your score is the only thing that matters to a lender Incorrect...
Q: What is used to calculate your credit score? A: Credit Scores are calculated based on the information that appears on an individual’s credit report the day your score is compiled. That’s why credit scores can vary , depending on when it is calculated. If you recently made a large payment to a credit card, then your score will likely be higher. Or, or you went on a spending...
Ever wonder how companies find out so much information about you? How you end up on email lists or in databases? One of the ways this happens is that Credit agencies sell your personal information. For instance, companies who have a name and address, or an email address for a potential customer, but lack other information will purchase the rest from credit agencies. Large corporations...
I stumbled over this the other day when checking my bank account with Bank of America. Currently, under the Customer Service tab when logged in, choose monitor credit report. You can do a 30 day free trial, assuming you cancel before the 30 days, and get your credit reports and scores from the 3 agencies for free. I am assuming this is a standing offer. See the screenshot for exactly...
There seems to have been a recent rash of credit score spammings, or I was just recently added to their spam list. I have been getting a lot of emails with subject lines that say “Your Credit Score May Have Changed“. The email tricks recipients into thinking their credit scores have changed and try to have you sign up with the spammer to see your new score, when in actuality your...
Having bad credit can definitely be a problem, especially when you’re trying to buy a house or a condo. Under current market conditions, it will become a little harder to get many offers on mortgages - especially since some of the sub-prime lenders have taken a serious hit. You should know, though, that there still are some lenders who are looking to lend money were it is needed. Here...
