March 31st, 2016
Your credit card utilization rate – your collective credit card balance divided by your collective credit card limit – is an important factor used by most credit scoring models to calculate your score. Generally, lenders see that if you’re using a greater amount of available limit, there is an indicator of a greater risk of not being able to pay your debts. In general, a credit card utilization rate of less than 30 percent is recommended.
March 10th, 2016
In Credit Karma’s recent Credit Fumble research, almost half of all people surveyed (47 percent) said that they had missed one or more payments on a credit card or loan before they entered their 30s. Missing payments have a myriad of potentially negative run on effects: you can incur a missed payment fee, your interest rates might rise, and it could end up on your credit report and potentially cause your credit score to fall. Banks and issuers consider how reliable you were in the past in paying your debts as an indicator in how reliable you will be repaying future debts.
November 12th, 2015
According to an FTC study, one-in-four consumers have an error on their credit report that could affect their credit score. A credit report error, such as a fraudulent account or incorrect account details, can have a powerful impact on a consumer’s financial health.
November 12th, 2014
Credit can be a confusing topic, with a lot of misinformation circulating around. We decided to debunk some credit myths, with your help! Read on to see which credit myths we talked about and whether they're fact or fiction!
August 15th, 2014
To celebrate our newest feature (full credit reports!), we had an engaging discussion with our Twitter followers about the importance of checking and reviewing your credit report regularly. Here's how it went!
April 1st, 2013
It’s no April Fools’ joke! Credit myths and rumors are unfortunately spread around all the time, especially on the World Wide Web. We’ve talked about lots of these myths over the years, and today we’re wrangling 10 of the most common credit myths to help set things straight. No foolin’!
March 28th, 2013
Unlawful detainer. Chances are you don't know what that means, unless you've been expelled from your home. It's the technical term for the legal action taken to evict someone from a property. Unsurprisingly, evictions most frequently occur when a tenant has broken the terms of his or her lease, like when you fail to pay rent. That kind can do a number on your credit health. But there are other types as well. Today, we'll take a quick look at the different types of evictions and then go over how an eviction can affect your credit.
March 5th, 2013
So far for National Consumer Protection Week we've covered 4 Ways to Keep Your Money Safe and How to Spot and Avoid Credit Repair Scams. Today we’re talking about what you can do to protect your credit from things like fraud and errors. Read on for five of our best tips.
February 13th, 2013
For years there’s been an ongoing debate about accuracy of credit reports. Various studies have claimed that 3 to 25 percent of reports contain errors. The study released in May 2011 by the Policy and Economic Research Council claimed that 19.2 percent of credit reports contain errors, but less than 1 percent of corrected errors led to significant increases in credit scores. The main issue with this study has been that it was initiated and paid for by the Consumer Data Industry Association, a trade group for the credit bureaus.
February 4th, 2013
This is a great question, and one that can definitely be confusing. There are likely two reasons why you might have a hard time getting a credit report. The best-case scenario is easily fixed, while the worst-case scenario will take some time to remedy. And there’s a weird-case scenario that could prevent you from pulling a credit report, too. We’ll get to that one at the end.