Credit Education

In the past decade the credit bureaus unethical, borderline illegal, means of handing disputes online and reducing all disputes to a simple code have been highly questioned.  Not only are these methods challenged by consumers, but attorneys and even elected government officials have gotten involved to challenge the bureaus on these tactics. TransUnion procedures were […]

In May of 2007 CFA and Washington Mutual conducted a study on consumer awareness of the credit scoring system. The study showed how little consumers really know about their own credit. Here are some of the interesting results from this study: Understood that their credit score would increase when they paid off large balances 65

The media, newspapers, internet are full of information, but sadly, much of the information concerning credit is inaccurate. Let’s check out some common credit myths: Credit Myth: “FRCA scores are locked in for six months, and they change every six months.”  That’s a total myth because actually, the FRCA score is based on the data

When it comes to credit scoring 30% is a magical number. 30% of the total FICO credit score is based on Available Credit, or the amount of credit available on open accounts.  FICO credit scoring models rate credit scores higher if revolving accounts have balances less than 30% of the high credit limits. The utilization