Related Posts

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  The Differences to a Drop in Credit Scores from a Late Payment

  No one wants to have a late payment show up on his / her credit report. Nevertheless, it happens. Due dates or recent charges are easily forgotten and before you know it, a 30-day late payment appears on your credit report. Your FICO® credit scores suddenly decline and you are left wondering, “Following a late payment, why does one FICO score for one consumer drop a lot more than another consumer's FICO score.”
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  What Consumers Think They Know & What They Actually Know are Two Very Different Things

  In a recent survey on credit scores, those between the ages of 25 and 70 graded themselves as having a “B” grade understanding about credit scores. When they took a subsequent questionnaire, their passed rate was 29%. Do consumers really think they are much smarter than what they really know about credit scores? The correct answer is a resounding “Yes” and this costs every such consumer a lot of money.
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  Going from What You Thought was an “A” to a “D” in Understanding Your Credit Scores

  When reviewing a credit situation or teaching a class on credit scores, it is always interesting to get feedback. People always state that they know a lot and are an “A” student in understanding their credit score. After a review is complete however, they quickly discover that many important points have been completely overlooked, and their credit score understanding is more like a “D”. As one professor put it, “The vast majority of individuals do not even have any fathom idea of all the factors impacting their credit scores.”
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  The Differences between Online Credit Reports and Lender’s Credit Reports

  When you look at a credit report online at one of the many “free” websites, do you think you are seeing all the information found in your lender’s credit report? Are the credit reports the same or are they different? If they are different, what information is missing from those free online credit reports? To let you know, the credit reports found online are vastly different than the ones lenders use. A credit report found online is called a “consumer credit report” while a “lender’s credit report” is one used by lenders. You need to know the differences. Knowing what is in your lender’s credit report gives you accurate and real time information. The free consumer online credit reports give you a partial glimpse of your lender’s credit report – it does not give you the same information found in your lender’s credit reports. The more important question is; where can you get access to your lender’s credit report and review it?
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  Dropping Critical FICO® Score Points While Shopping for Your House

  Nate was looking to purchase his very first home sometime within the next six months. He contacted a realtor who told him to go to a lender to get pre-approved for a mortgage. This is a common practice, but there is a BIG PROBLEM and it is one that could easily cost you lots of money. For Nate, it cost him almost two thousand dollars because he went beyond the 90-days and he was at 719, costing him lots of money. It can easily happen to any homebuyer.
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  Knowing the Difference Between Credit Suggestions and Credit Score Solutions

  Knowing the difference between a credit suggestion and a credit solution can save you a lot of money. It can mean the difference between a credit score increase say 3 or 4 points, while a credit score solution can increase your scores at least 30 to 40 points in most situations.