My Credit Scores

Beware of Store Branded Credit Cards

2007-07-06T13:30:00.000-07:00

Store banded credit cards have been around for many years, even as long as the typical visa or master card credit card. Many big box stores have store branded credit cards like The Home Depot, Lowes, Best Buy, and other big box retailers. This strategy of issuing credit does a few things for the issuing company: It helps increase sales as well as brand image, along with other features. Many big box retailers will run specials such "make no payments for a year" which are geared to increase sales. And this is where people come into trouble...
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Credit Repair Kit

2007-07-04T09:54:00.000-07:00

It is senseless to simply let your credit rating suffer from errors as well as outdated information. As you may know negative credit information can significantly reduced your chances for qualifying for loans and credit cards at decent interest rates. If you're interested in finding out how to fix mistakes in your credit report and improving your credit for the future then The Credit Repair Kit For Dummies is definitely a must read...
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Credit After Bankruptcy

2007-07-02T12:37:00.001-07:00

Bankruptcy. It's a tough predicament to get through. But with some help from experienced professionals it can be a bit easier to get through. You might even be able to reestablish your good credit in as little as eight months. Credit After Bankruptcy will show you how you can make a lasting recovery from your credit issues...
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Credit Cards- So many choices

2007-06-15T17:11:00.000-07:00

Every week you may get a credit card offer in the mail or in an email, but which credit card is right for you? How do you determine which card will work for your lifestyle and are there even considerations to take before choosing? The answer to these questions is undoubtedly yes and described in more detail below.

First off when you're selecting a credit card you do not want to simply compare interest rates and call it a day. There are many more considerations to take before making a snap judgment. The goal is choosing a card that works well for your budget and repayment ability. Start by asking yourself a few key questions...
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Bankruptcy- What You Need To Know

2007-06-07T12:38:00.000-07:00

If you have been on the cusp of bankruptcy as of late, you must know this. You may be familiar with the definition of bankruptcy and may have coped with what you think may come next. However, you have not discovered all the ramifications of bankruptcy yet. Before you set out to declare any legal proceeding regarding your credit life, be sure to know fully what you're getting yourself into- Mycreditscores is here to help you do just that. Read on to discover all you must know before making a decision that could very well impact your life for the next decade...
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STOP! Don't pay rent. Build Wealth.

2007-06-05T08:41:00.000-07:00

Imagine what you can do with a home of your own as many advantages exist versus renting. You're not going to wake up at 12a.m. to the neighbors beating their headboard against your wall anymore. You're actually going to get your newspaper in the morning. Often times you can find a home in which the mortgage is less than what you currently pay in rent; and you're not throwing your money away. You're building wealth. Certain tax benefits exist for homeowners which can significantly increase the upside potential to purchasing a home. There are downsides to owning a home as well unfortunately; you'll have to fix faulty appliances or leaky roofs yourself. But weigh the pros and cons yourself...
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Home Mortgage 101

2007-06-01T16:11:00.000-07:00

Very few people can purchase a home without use of a mortgage. When financing a new home is the only option left, there are many financing options that are available to meet your needs. Discussed below are many of these options that are popular today. Even if you already have a mortgage, you can learn options to use later in life or share with others.

First Thing is First

How much can you afford? A good general rule of thumb is to limit your mortgage to roughly 29% of your monthly gross income as most mortgage lenders will look for this. Knowing how much you can spend before you looks is key. It is certainly a great idea to get either a pre-qualification or pre-approval before shopping for a new home; especially for first time home buyers...
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Decoding Your Credit Score

2007-05-30T12:10:00.000-07:00

Deciphering what your credit score really means and how it impacts your credit worthiness isn't as easy as it seems. If you're looking to better your credit ability and increase your score, you're at the right place. Even if you have a great score, there is always room for improvement. Your credit score is directly based on your past credit history (renting, borrowing, etc.) and there are a few tactics to included in your every day life which should have a good effect on your score...
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How to Correct Incorrect Information In Your Credit Report

2007-05-29T19:48:00.000-07:00

Although it is becoming more and more uncommon that incorrect information is contained in a credit report, it is still possible. If incorrect, incomplete, or outdated information is in your credit report, it can significantly effect your score. First to identify in your credit report is incorrect information because it may be evidence of fraud. If you do find evidence of fraud, contact the credit reporting bureaus immediately. You will be asked to explain the situation and also complete a police report if the issue is fraud...
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The FCRA and Your Rights

2007-05-22T20:23:00.000-07:00

The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies such as agencies that sell information about check writing histories, medical records and rental history records (credit bureaus also sell your information unless you opt out). This is a summary of your major rights under the FCRA. For more information about your rights and other provisions of the FCRA visit the Federal Trade Commission website at www.ftc.gov/credit...
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Why isn't Information Consistent With the Credit Bureaus

2007-05-22T19:41:00.000-07:00

When you get a copy of your credit report from the three major credit bureaus, you may be wondering why it doesn't match. You may even be wondering how to make it match.

Your information isn't consistent amongst all credit bureaus because information furnishers or providers do not share your credit data with each other. When an information furnisher has something to report it may report to one, two or all credit bureaus. That decision is entirely up to the company reporting the information. For example. If a company reports a collection to Equifax, that company may not report that same information to TransUnion or Experian. And Equifax will not communicate that information to the other credit bureaus...
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Stop the Junk Mail

2007-05-20T12:49:00.000-07:00

Every day millions of letters containing offers for credit cards, insurance, and other services and/or products are mailed to recipients who could easily live without these pieces of junk mail. You yourself may get ten or fifteen credit card offers a week. Have you ever wondered how these companies get your information? Have you ever wondered why you started receiving junk mail the day you got your first credit card or first loan? Well wonder no more. Answers to these questions are uncovered. And, more importantly, discover the solution to your junk mail problems; stop the junk mail...
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The Most Important Credit Improvement Tip

2007-05-13T09:18:00.000-07:00

There are many ways to improve your credit, but before anyone sets out to improve a credit score, the first step is assuring yourself that you will stick with it. The worst thing to do is to start a very difficult task and then simply give up. So convince yourself that this is going to be your focus for then next month, then three months, then year...
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5 Steps to Financial Management

2007-05-04T20:26:00.000-07:00

Convince Yourself
Alright, you know the extent of your debts. You know what led you to your financial issues. You're feeling how excessive debt is impacting your life. Now it's time to take action. These five steps will help you get on the road to an improved financial status and a better life.

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Unscrupulous Companies and Reporting Requirements

2007-05-04T15:19:00.000-07:00

In today's market there are great trustworthy companies and unscrupulous companies that will turn around and bite the consumer. Before buying, leasing, renting, or borrowing anything, complete a background check on the company. Companies perform background checks on consumers; why wouldn't consumers want to complete back ground checks on companies? How does a consumer complete a background check?...
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Fair Disclosure Requirements

2007-05-03T16:05:00.000-07:00

Fair Credit Reporting Act
If an lender or insurer uses a report from a consumer-reporting agency, that lender or insurer must comply with a state law relating to use and disclosure of credit and/or insurance information, as well as the federal Fair Credit Reporting Act. The Fair Credit Reporting Act is a federal law that regulates consumer reporting agencies and the use of consumer reports and investigative consumer reports provided by such agencies. The goal of the law is to help assure that credit reporting is accurate and current. The applicant must be notified in advance that a consumer report may be obtained by the insurer...
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Beware of Easy Fixes

2007-04-23T20:07:00.000-07:00

Beware of credit repair companies that "guarantee" they can remove late payments, bankruptcies, and other negative information from your credit report. Only the information furnisher who first placed the collection or late payment account on your report can effect the account. Another red flag is the suggestion to create a "new" credit report or identity by applying for an Employer Identification Number (EIN). An EIN is used primarily by businesses. And most importantly obtaining an EIN under false pretenses is a crime!...
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How Do I Get a Copy of My Credit Report or Credit Score?

2007-04-23T19:55:00.000-07:00

You should review your credit report regularly to stay informed of changes to your credit profile and to confirm the accuracy of information that is being reported. When reviewing your credit report, review it to assure that no one has stolen your identity and opened credit accounts or taken out loans in your name. It's also a good idea to review your credit report before making a major purchase so that you have ample time to correct any errors that may prevent you from obtaining the best rates...
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How Do I Raise My Scores?

2007-04-23T16:29:00.000-07:00

Many times a bill is simply forgotten about. Often those bills are reported to collection agencies and credit reporting agencies. If you are actively trying to increase your credit scores for reasons such as: getting a better rate on a loan or increasing your chances of getting approved for a loan. Below are actions to take to effectively increase your credit scores. Do keep in mind that, like everything in life, increasing your score takes time...
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What If My Credit Report Contains Inacurate Information?

2007-04-21T19:43:00.000-07:00

Review your credit report once you have a copy. Review the information to check that it accurately shows how you have paid your bills and also check if all the accounts shown are yours. This is where you will find some signs of identity theft, like new accounts that were opened in your name without your knowledge or permission. Make sure to identify accounts that you no longer use and do not need and make a note to close them...
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2007-04-13T16:33:00.000-07:00

About This Site

2007-04-13T09:42:00.000-07:00

This site provides free, useful information that seems to be hidden to the general consumer. Information concerning consumer rights with regard to credit based products and services are explained. All information within this site is provided at no cost to the reader, so take away as much as you'd like.

You may ask how this is possible; well, a few ads are placed on the site to both offset the cost of producing and hosting the content and to provide useful, extensive resources to readers. When readers find the informational ads interesting and click on them to read more, that pays our bills.

So read read read and enjoy!