How to Steer clear of Credit Card Scams

Posted on April 4, 2012 by admin

b) Transactions summary – This is the itemization of all credit accounts contained in the credit report.

c) Outstanding Account Record – This provides the details, by particular credit areas of the transactions undertaken by the individual. The credit areas are real estate, revolving fund accounts, collectibles, installment credit and the other credits entailed.

d) Other available information – These include all publicly available credit information about an individual’s activities.

For more information on TransUnion credit reports, visit

TransUnion Credit Report – Understanding Your Credit File

Following are some advices that can help you stop credit card scams: Protect Your Credit CardYou should not lose sight of your card. While receiving, you should sign every credit card. You must not leave your credit card receipts here and there. Once you receive your statement, you should conciliate your account with the credit card receipts. Your highest liability according to U.S. federal regulations is $50 for every credit card and various credit card providers would even relinquish that charge for reliable customers.

Credit Report – How Do Late Payments Have an effect on My Credit Report And Score?

Posted on April 4, 2012 by admin

The credit score rating scale ranges from 300 – 850.

Credit Score Rating Chart Score Description 760 – 849 Excellent score. 700 – 759 Great score. 660 – 699 Good score. 620 – 659 Fair score. 580 – 619 Poor score. 500 – 579 Undesirable score.

The next question is usually, “How is my credit score determined and how do I obtain my score?

Your report can be obtained for free once a year every year or if you have been denied credit, employment, insurance, housing, public benefits, or employment based upon consumer credit report.

Credit Score Rating Scale and Chart – Where Do You Fit? Of course you don’t want to make any late payments on your credit cards or loans and affect your credit report and score unless you absolutely have to, but what happens if you’re unable to avoid it? The same applies to 60-day late payments. Also a one time late payment of 30-60 days may never be reported to the credit reporting agency. The three main credit bureaus are Experian, Equifax and Trans Union.Credit card companies and other creditors look at 90-day or 120-day late payments as a red flag. They can no longer trust you to make your payments on time so your credit score will go down. It doesn’t matter if the payment was for $25 or $1000, they will look at it the same way.Also sometimes late payments may cause a rise in the interest rates on your credit cards.If you can avoid making any late payments you’ll dramatically improve the scores on your credit report. It’s best to spend a little time learning about credit reports, how you can fix or repair your credit report and scores now and how you can raise your credit scores fast.

Could Poor Credit be Erased – Recommendations and Methods

Posted on April 4, 2012 by admin

The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus — Equifax, Experian and TransUnion.

What the law doesn’t do is give every American the ability to read their credit report.

Part two is your credit history. This is usually the longest part of your report because you probably have had department store accounts, multiple credit cards, multiple bank and other financial institution loans, mortgages, car loans, lines of credit, home equity loans and other transactions involving credit.

The total amount of the loan with your high credit limit or if it is a credit card, your highest balance follows.

Part four is the Inquiries section. Part one are the inquiries you initiate by filling out a credit application.

Each credit report bureau places an explanation of terms usually on the backside of the report pages. You need to have a basic understanding of how credit bureaus deal with different items reported on your credit, then, with the help of some new laws, you can easily erase bad credit. If you follow proper steps while dealing with the credit bureaus, it is not so very hard to erase your bad credit.First of all you have to dispute the items which are errors, duplicate accounts, collections or charge offs that have been on your report for several years by now.