When your credit score drops to the point wherein you cannot borrow money anymore, there are still ways of recovering from this. One is letting it recover naturally. Negative records can stay on your credit report for up to a maximum of 10 years only. …

According to a recent report by Meredith Whitney, an analyst with Oppenheimer & Co., the Americas biggest credit- card lenders— Bank of America, Citigroup, JPMorgan Chase, American Express and Capital One— could cut as much as 2 trillion in consumer cr…

I understand that FICO 08 will weigh the account balances more heavily than the previous FICO versions. It use to be a 30% weight – but now it is more….

Another element to watch out for is the amount of utilization you have on your existing accounts. The old adage that banks only lend money to people who don’ t need it is pretty much true. Opinions vary, but having your total utilization (total debt di…

Is credit repair a“ scam”? Not the Credit Repair Companies that I am familiar with- their clients enroll, pay a fee and generally graduate the program with higher (usually high enough to qualify for a mortgage) credit scores. That would seem to disqual…

Bumpage (or b*) is the act of pulling your credit reports over and over in order to delete old inquiries. Basically, the outdated systems used by Equifax, Experian and TransUnion can only hold so many inquiry requests on your credit file. Once the syst…

It’ s very easy to buy things with credit cards. All you have to do is swipe it and the thing is yours. You have to realize that even though you can buy something today without paying, eventually you will have to pay for that item (and interest charges…

Whatever approach you decide on to convey a dispute to a credit agency, be sure to include as much information as you are able in order to help the reporting bureau find the inaccurate item and create the problem to the creditor. Be sure to include you…