Month: February 2017

When reviewing a credit report, consumers need a basic understanding of the elements used to calculate a score.  When using the Fair Isaac Corporation (“FICO”), the most widely used and well known credit scoring system, there are five different factors used to determine a score with each factor contributing a different percentage to your overall […]

If you have ever been denied credit, you might believe that lenders are not upfront about your reasons for denial.  A lender must provide written notification when you are denied credit, and that notice must either provide the primary reasons for the denial, or advise you where you can mail in for those reasons.  They […]

The average consumer has heard of the three major credit reporting agencies, Equifax, Experian and Trans Union.  These big three credit agencies are responsible for gathering, storing and reporting your financial information for creditors, lenders, employers and other entities that are allowed to view it.  But did you know that there are actually checking/banking account […]