CoreLogic’s CoreScore Report supplements credit data
In early October, CoreLogic, a leading provider of credit information, announced they have a report that assesses credit risk and could be used as a a supplement to the traditional credit report. It is called the CoreScore Credit Report and ispliant with the Fair Credit Reporting Act (FCRA). It merges CoreScore consumer information and credit report data into one report. It
Tags: Credit, Credit Reports
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Check this out According to TransUnion, which is one of the big three credit bureaus, credit card delinquencies are currently at their lowest level in 17 years.
Surprised? I am. Given all the tight job market, stagnant wages, and increasing food prices (among other thing), I wouldnt have expected it.
At the same time, however, more Americans are falling behind on their mortgages. According to Charlie Wise, TransUnions director of research and consulting, Consumers are protecting their credit cards. It gives them financial flexibility.
Back in 2008, 4.3% of consumers were current on their credit cards but behind on their mortgages. Fast forward to 2010, when that number climbed to 7.4%. On the flip side, the number of consumers that are delinquent on their credit cards but current on their mortgages dropped from 4.1% to 3.0%.
So the numbers here arent huge, but theres a definite pattern and the relative changes are quite large.
Tags: Credit, Credit Cards
Its QA time again. This one comes from babe112083 who is asking
Anyone know of any really good secured credit card deals for people who have bad credit? Im looking for one preferably with minimum annual fees.Actually I just read what the difference between secured and unsecured is and I really want an unsecured credit card. Is there any that you would suggest?
Answer: I can understand why youd what an unsecured credit card. The title itself implies you dont have to put down any of your money. This of course is very misleading.Stay away from unsecured credit cards for bad credit. Its true; in most cases you dont have to put down a dime..but when you get your 1st billyoull most likely see a very large annual fee. Ive seen unsecured credit cards with an $150 annual fee. I just think a secured credit card is better. At least if you ever close it, youll get your deposit back. With the unsecured credit card for bad credit, your annual fee just goes to the bank. Read full article…
Tags: Bad Credit, Credit, Credit Card, Secured Credit Card
Many of you might be asking this same question so Im posting with the answer here. Enjoy. The question is from questions
Rebuilding my credit and I have an old Master Card account that was charged off that I am attempting to satisfy. I want to obtain a secured card from a local credit union to start establishing some good credit. Do I have to satisfy the old account before doing this or will I be able to get the secured card.
Answer: In general , secured credit cards will be issued irrespective of your credit history. Do not worry just apply for securied credit card. With credit unions it will be much easy than banks.
Knowing why prepaid credit cards build credit is important to successful credit repair efforts to maximize your effort to improve credit score. If you have suffered through a bankruptcy or have extremely bad credit rebuilding takes time and effort, and prepaid credit cards are often the first step rebuilding your credit rating and rebuilding your finances. Let us discuss the reasons why these cards build credit.
Your credit rating as assessed by the credit bureaus is essentially an estimation of your financial health and responsibility. The exact formula for credit score is not known, but it takes into consideration your current personal finance situation along with your credit history with lenders. Falling behind on payments, seizures, foreclosures, as well as too many credit lines available negatively impact your credit rating. In your efforts to build credit after these financial mistakes one must address reestablish your responsible history and financial health.
Prepaid credit cards build credit by extending a credit line to otherwise high risk people.
Tags: Build Credit, Cards Build, Cards Build Credit, Credit
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