Thinking of Credit Repair? Think Twice

Thinking of credit repair? Think twice

You’ve probably heard ads promising to fix bad credit. The thing is, some credit repair agencies use tactics that are just plain illegal, that don’t work, or both — leaving you out hundreds or thousands of dollars; the last thing you need when you’re having money trouble.

No one can remove “accurate and timely” negative information from anyone’s credit report, but sometimes people claim that they can. So how do you tell if a credit repair offer is a scam?
Read more

Debunking the “Never Close Your Oldest Credit Card” Myth

In this video, I interviewed John Ulzheimer (who is a nationally recognized expert — and expert witness — on credit reporting, credit scoring and identity theft) about one of the biggest credit score myths out there: the idea that closing a credit card is bad because it causes you to lose the value of the card’s age. Click the video above to hear what he has to say, or continue on to read the transcript if you prefer that.
Read more

Is There an Error on Your Credit Report?

Could there be an error on your credit report?

Credit reports (and the credit scores based on them) are now used for more than just getting loans. For example, your credit reports may be used to determine whether or not to rent to you, to decide how much you might be charged for some types of insurance, to figure out whether or not to offer utility services (including cell phone service) to you without a deposit, and sometimes even whether or not to hire you for a job.

So, even when you’re completely committed to getting out of debt, it’s important to check your credit reports regularly. They could be wrong. Reviewing them could also help alert you to identify theft that you might not otherwise know about.
Read more