Published On March 26th, 2012

You need to understand that a huge part of your score (30%) is determined by your “Proportion to Balances” ratio.

This is a very important number, do not overlook it. I want you to understand how this is scored so you will always be able to manage your credit and your score. There are methods & strategies to help you remove your negative credit history from your file, but you must have good credit with good ratios reporting.

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Published On March 6th, 2012

Many people believe that opening up secured credit cards are the smartest, quickest and most effective method to add positive accounts to their credit report. They most definitely are not!

This list is not intended to be all inclusive by any means, simply a few methods you can use to re-establish credit more quickly.

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Published On January 25th, 2012

A FICO Score takes into consideration 5 categories, not just one or two. The importance of any factor depends on the information in your entire credit report. Your FICO Score looks only at the credit-related information contained in your credit reports. Your FICO Score considers both positive and negative information from your credit reports.

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Published On December 19th, 2011

Not understanding their rights. The Federal Trade Commission has numerous laws pertaining to credit, credit scoring, credit reporting etc… Understanding these laws and in particular the individual “statues” within the laws help immensely when correcting problems with the three major credit reporting agencies. (Experian, Equifax & TransUnion) Most people simply don’t have the time or expertise to read, study and understand what can be done to improve their credit.

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Published On October 17th, 2011

Many times, I talk to people who ask why multiple credit checks are being done on their credit report without their knowledge. In many cases, the customer is shopping for a new car or thinking about buying a home. Sometimes this can even happen without the person’s permission. Let’s say you’ve starting the house hunt, and have looked at several houses but haven’t found the right one. In the meantime, your real estate agency could have run a credit check on you, as well…

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Published On June 24th, 2011

A decade has passed since the vault cracked open and we started learning how credit scores really work. For years, the creators of the leading credit scoring formula, the FICO, didn’t want consumers to know the scores existed, let alone what went into them. In early 2000, however, E-Loan started letting customers see their FICO scores. That free experiment was quickly shut down, but the secret was out.

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Published On April 5th, 2011

Since you have three credit reports, you actually have three FICO scores. Each credit reporting agency has a different–and somewhat bizarre–name for your score. At Equifax, the FICO is known as the Beacon credit score. TransUnion calls it Empirica. At Experian, the name is quite a mouthful: Experian/Fair, Isaac Risk Model.

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Published On March 20th, 2011

Credit reports have always been important, but they’ve grown even more important in recent years. Now more than ever, you need to make sure you understand what’s on your credit report – and you need to know what steps you can take to improve your score.

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Published On February 10th, 2011

You get constant junk emails and see TV commercials about getting your credit report and yet when was the last time you got yours?   It’s really easy to get and most important of all FREE to get.   Beginning in 2004 per the FACTA Act (Fair and Accurate Credit Transactions Act of 2003) you could get a copy of your credit report from all three credit reporting agencies every 12 months.

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Published On December 27th, 2010

Home loan shoppers should see an addition to the application paper blitz starting Jan. 1 — a mandatory alert on how their credit scores might affect the rate quote and terms they receive from their lender. The new disclosure represents the end product of a congressional effort dating to 2003 to make the crucial role played by credit scores in loan pricing more intelligible to consumers, and to alert applicants when negative information in their credit bureau files triggers higher rates…

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