Fraud alerts and security freezes important tools to protect your credit and identity.

More than ever, it’s important to monitor your own credit and take precautions in to prevent having your credit compromised or identity stolen. But if it does happen, it’s absolutely crucial that you are prepared to act, taking measures that will stop the thieves in their tracks or at least minimize the damage. There are two main steps you can take to do just that: fraud alerts and security freezes. Often misunderstood or confused, understanding what these two credit score ...

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Is my credit score FICO or Fake-O?

We’ve all seen them: those quippy credit report commercials with the jingles that get stuck in your head all day long. They talk about credit monitoring, bad credit and of course they offer – what luck! – a free credit report.

Well, as the old adage goes, if it sounds too good to be true, it probably is.
What many credit reporting companies such as these don’t tell you, is that all credit scores are not created equal. Sure, it’s possible ...

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7 Items that are easy to remove from your credit report.

1. Negative accounts over seven years old.
For unpaid debts and delinquencies, seven years is the magic number for items to fall off your credit report. (Some bankruptcies stay on for 10 years.) In fact, most credit bureaus start erasing those pesky old negative items after six months and change. But if you see an item still reporting, simply dispute it with the credit bureaus. You’ll want to verify the time the debt was unpaid, when it was charged off ...

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Climbing your way to the top of the credit score mountain.

Do you have a top-notch credit score? If you have a 720 or higher FICO score, you may be patting yourself on the back, as that’s commonly considered a superior score. But most people don’t realize there is another whole level to climb on the credit score mountain and reaching the peak will get you even better savings on interest rates, mortgages and loans. FICO scores go all the way to 850, yet many people stop looking upward once they ...

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Citigroup partners with FICO to provide credit scores to its customers.

Up until only a few months ago, consumers were largely in the dark when it came to the credit score information that big banks and credit card companies used to make decisions about their own customers. But that all changed last November when the Fair Isaac Company, known as FICO, rolled out a program encouraging banks to provide free credit scores to their own customers. The initiative received a huge boost in legitimacy recently as Citigroup announced that they would ...

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Accounts in Dispute

What does it mean when an account is in dispute?
While the credit bureaus are conducting their investigation of the validity and accuracy of an account they will often times put the verbiage, “consumer disputes account information” or “information disputed by consumer” in the comments section of that particular account. Please note, that not all accounts will have the dispute comment.

How does this affect me?
If you are planning or in the process of purchasing a home you would most ...

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FICO’s new Score 9 is a win-win for credit reporting accuracy, consumers with medical debt.

This week, the credit reporting giant FICO reported they’re rolling out an update to their scoring model, FICO Score 9.  Once implemented, it will provide a more accurate and fair way to gauge consumer collections for credit scoring.  The highlight of FICO Score 9 is that it will differentiate medical collections from other consumer credit accounts in collections.  Up until now, those two types of accounts were lumped in together once they hit collections – hurting credit scores the same way.  But with a ...

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30 in 30; how to boost your credit score 30-points within 30 days.

Your credit score is all-important these days, the gateway to achieving wealth and financial independence for your family. That’s never more critical than when a consumer is 30 days out from applying for a big loan like a mortgage or a car loan, obtaining some types of insurance, or even applying for a job. For that reason, it sometimes becomes critical to boost your score in a hurry to save money by taking advantage of the best interest rates – or even get approved at all. ...

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How will FICO Score 9 impact credit scoring? Not as much as you may think!

FICO’s recent release of its FICO SCORE 9 model caused a buzz of conversation among financial circles and even news media.  There are plenty of questions and concerns by consumers and headlines in the traditional news media.  But most people still don’t understand FICO 9 or what kind of impact it will have on credit scoring.

The following is a combination of data from several sources, but especially

Different banks and lenders use FICO in different ways.  Many of them still ...

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