Buzz kill…Here’s Why Your Credit Score is Meaningless to Lenders
Buzz kill…Here’s Why Your Credit Score is Meaningless to Lenders Auto Loans by John Ulzheimer Share Share Email 700, 680, 545…we’re all focused on our credit scores and with good reason. Credit scores can determine whether or not we can get credit to buy a home, a car, an education. Credit scores can determine what […]
Can A Balance Transfer Help my Credit Scores?
Can A Balance Transfer Help my Credit Scores? Credit Cards by John Ulzheimer Share Share Email First, what is a balance transfer? Credit card issuers want to increase their share of your wallet and will offer you low interest rates in exchange for you transferring the balance from another credit card to their credit card. […]
Does Opting Out of Credit Card Offers Really Increase My Credit Score 10-20 Points?
Does Opting Out of Credit Card Offers Really Increase My Credit Score 10-20 Points? Credit Cards by John Ulzheimer Share Share Email I’m writing this blog as quickly as I can. In the past 30 minutes I’ve gotten two questions from two completely different people asking me the exact same question, almost verbatim. That means […]
Did Your Credit Card Issuer Close Your Account?
Did Your Credit Card Issuer Close Your Account? Credit Cards by John Ulzheimer Share Share Email “We are writing to advise you about a change being made to your account.” This prologue is a part of letters being sent to millions of U.S consumers and sets an ominous tone for the remainder of the communication. […]
If I Pay or Settle a Collection Will it Improve My Credit Scores? A New Answer To An Old Question!
If I Pay or Settle a Collection Will it Improve My Credit Scores? A New Answer To An Old Question! Civil Penalty by John Ulzheimer Share Share Email A collection account results from an unpaid bill that is usually past due 150 to 180 days (5 to 6 months). When the creditor determines that the […]
What Is An Auto Credit Score?
What Is An Auto Credit Score? Auto Loans by David B. Coulter Share Share Email Most people don’t know their credit score has no impact on qualifying for a car loan. Instead, it’s what’s known as an Auto Industry Option Score, which we call an Auto Score on SmartCredit.com. The Auto Score is usually calculated […]
CFPB will Supervise Credit Reporting Agencies
CFPB will Supervise Credit Reporting Agencies Credit Cards by John Ulzheimer Share Share Email The Consumer Financial Protection Bureau (CFPB) was formed in July 2010. Since this time it has been investigating many institutions including banks, consumer credit reporting agencies, credit card issuers, student loan originators, payday lenders, and mortgage lenders. Basically the Consumer Financial […]
Why should I pay more than the minimum on my credit card?
Why should I pay more than the minimum on my credit card? Credit Cards by John Ulzheimer Share Share Email “John, other than not wanting to pay interest, is there any other reason I should pay more than the minimum on my credit card?”
Why Didn’t My Credit Scores Go Up After I Paid My Tax Lien?
Why Didn’t My Credit Scores Go Up After I Paid My Tax Lien? Bankruptcy by John Ulzheimer Share Share Email I received the following question regarding the influence of paid tax liens on credit reports and scores. “John, I had a Federal tax lien in 2010. I paid it in 2012. I was under the […]
Should I Take Advantage of A Credit Card Payment Holiday?
Should I Take Advantage of A Credit Card Payment Holiday? Credit Cards by John Ulzheimer Share Share Email Simply put, a payment holiday lets you skip a payment. It is usually offered by your credit card company in December and is a marketing gimic to gain loyalty and income for the financial institution. One way […]