July 20, 2010
There are many reasons why credit reports are requested, ranging from new business partnerships, prospective tenants or lease agreements, and loan/credit card application approval amongst others. While credit reports are often fairly accurate, there are some instances when the information contained on the report may be outdated or inaccurate.
read more…
May 25, 2010
Building a strong credit history can be very difficult for those who are starting out from scratch. It can take several years for some people to build a reputable credit score, but the need for a high credit score has never been more present than in today’s society. There are however ways to expedite the process of improving credit history, without having to wait several years to do so. read more…
April 11, 2010
Not all credit cards will report payments to credit bureaus. This can harm a borrower’s plan to repair a poor credit score.
When repairing credit it is quite common to take a credit card, borrow a manageable amount and keep paying the credit back. In this way a credit score can be rebuilt as a pattern of steady repayment of debt is re-established. This is usually recommended as a way of repairing credit as it not only establishes a record of repaying debt, it also brings in good habits of regular repayments and monitoring debt levels. In other words it re-trains a person who has previously had a problem with repaying debt in managing their debt. read more…
January 3, 2010
Credit card checks are checks that allow for money to be withdrawn on the credit card. They are like normal bank checks in that they can be paid to anyone, although some are made out to the account holder and can only be paid to that person.
Credit card checks are treated as cash advances. This means that they fall under the cash advance rules that credit card companies operate. Cash advances are rarely treated as well as credit card purchases. For a start cash advances have no grace period. This means that interest is charged from the day a check is cashed, unlike a purchase when interest is usually charged a set number of days after sending the statement.
If money is taken out with a credit check then this will count against the cash withdrawal limit. The cash withdrawal limit is a lower amount than the overall credit limit, and usually a proportion of the credit limit. read more…
December 6, 2009
Although many people charge for a personal credit report, including the credit reporting bureaus, it is possible to get credit reports without any charge.
Every American is entitled to a free credit report from the three main credit reference bureaus, Experian, Equifax and TransUnion. This is available once a year, if a second report is requested within twelve months then there is a charge. read more…