Credit Scores

24
Jul
A Year Later, How Has Americans’ Perception of Equifax Changed?

Last year between May 13th and July 30th, Equifax fell victim to a cyber-security breach where hackers were able to access roughly 145.5 million U.S. Equifax consumers’ personal data, in addition to at least 209,000 consumers’ credit card credentials being stolen.  Equifax, one of the three major credit agencies, announced the attack ​on September 7, [&h

Posted in: Credit Scores, Reports,
18
Jul
How Small Business Owners Can Prepare for Responsible Borrowing

Do you have a small business or a side hustle you want to expand in the future? If you’ll be looking to get a small business loan, you may need to give your finances a checkup and make sure they are ready. Depending on the status of your business, you may or may not have a […]

Posted in: Credit Scores,
17
Jul
Does Having Multiple Credit Cards Hurt Your Credit Score?

Some consumers hold multiple credit cards for a variety of reasons. For example, you might open multiple credit card accounts to take advantage of different rewards programs. It’s not uncommon to have both a travel card and a cash back card. Or, others might want access to more credit or want to earn multiple sign-up bonuses. Regardless

Posted in: Credit Cards, Credit Scores,
31
May
Pinch Rent Review: How Does It Work?

Despite the fact that many young Americans pay rent, on time and in full, on a regular basis, none of these diligent payments are reported to the big three credit reporting agencies. Why? Because often rent is paid via check, transfer, or cash to your landlord. Landlords typically haven’t reported any of this information to […]

Posted in: Credit Scores,
02
May
How Accurate is Discover’s FICO Score?

Discover offers consumers a Credit Scorecard, which is a free service that includes a FICO score. Discover and a majority of other lenders use FICO scores in lending decisions. And a consumer, it’s understandable to want to see the same information that lenders see when checking your credit. However, there are different types of credit […]

Posted in: Credit Scores,
07
Mar
How to Build Credit With an Authorized Credit Card Account

Whether you are a young adult, a new U.S. citizen without a credit history, or even someone simply trying to rebuild a credit history, the process of building up your credit score can be long and difficult. You need credit to build a credit history. One way to begin trying to build credit is being an authorized […]

Posted in: Credit Cards, Credit Scores,
02
Mar
Which Credit Reporting Agencies Banks Use to Pull Your Credit Report

There are three main credit reporting agencies (CRA) operating within the United States. Each one is a for-profit company responsible for recording and compiling your credit history. A business that has a legitimate reason to request a credit check can contact one or more of the big three CRAs to pull your credit report. Some […]

Posted in: Credit Scores,
27
Feb
How to Start Building Credit at 18

Building a solid credit history is essential for anyone who hopes to be able to own property, obtain favorable loan rates, and have more employment options. For young adults, the conundrum has always been that you need credit in order to build good credit, and it is not always available when you’re first starting out. Understanding Credit Can […]

Posted in: Credit Scores,
19
Feb
Credit Karma vs. FICO Score

Until recently, when someone talked about a credit score they meant a FICO credit score. Credit scores are numerical gauges of consumer financial history, stability, and ability to handle credit and loans. For a while, FICO credit scores served as the default credit rating in the marketplace. Although other financial institutions had their own credit […]

Posted in: Credit Scores,
08
Feb
A State-By-State Review of CFPB “Credit Reporting” Complaints In 2017

If you have ever browsed the LendEDU blog, you know we love digging into the Consumer Financial Protection Bureau’s (CFPB) Consumer Complaint Database in order to tell a story and reveal eye-opening trends. The CFPB’s complaint database is one of the most powerful tools that we have at our disposal. Hundreds of thousands of consumer-submitted complaints [&

Posted in: Credit Scores, Reports,