For many people, the announcement last year that the three major credit reporting agencies would remove paid medical debts from credit reports was a welcome relief. Medical bills and the confusion those bills and insurance cause, has led to many people owing debts they never planned for. Here is an update on the changes to credit reports, credit scores, and how to manage medical bills.
A recent headline from the Consumer Financial Protection Bureau (CFPB) has alerted consumers that another financial institution has been fined for, “Illegally Exploiting Personal Data to Open Sham Accounts for Unsuspecting Customers.” This typically happens when financial institutions incentivize their employees to open new credit and loan accounts and to sell certain financial products. Find out how you can protect yourself.
It's true that missing the due date on some of your bills will damage your credit score, but there are some financial transactions that don't have any effect, either good or bad.
It' s true that missing the due date on some of your bills will damage your credit score, but there are some financial transactions that don't have any effect, either good or bad.
The DTI is the percentage of our income that goes toward paying our monthly debts. These ratios can often be overlooked as many people assume that a good credit score and income are the only two elements taken into consideration when seeking to purchase a home, car, or even to open a credit card. However, for many lenders, a good report and credit score are not enough to be considered a suitable candidate.
This video covers difference in popular credit score models FICO and VantageScore and a quick overview of sites where you can obtain a free credit report or score.
It is always a good time to check your credit report, but which free source should you choose? Here is a list and some things to look for before you provide your personal information.
Many creditors are offering ways to avoid making payments during the COVID-19 pandemic, but is that the best for your finances? There are options for staying on top of bills during this time and avoid jeopardizing your future.
A quick look at the new FICO score along with the other credit scores such as Vantage, that are available to consumers.
A peek into the difference between a Vantage credit score and a FICO credit score.