niki asked:


I get my free credit report every year. I need to know how I can get my free credit score I’d appreciate any good answers someone can teach me, how to get free credit score report.

You’re My Best Friend…Cap& asked:


I have a medical bill that is currently in a lawsuit. This company NCO reported the same account on my credit report twice. Is this legal to do?

Mike A asked:


I’m applying for a credit card tomorrow. I’ve had credit cards and loans in the past, and always just put my address. Right now I’m in a precarious position though, I currently live with family but move into an apartment at the end of the week to begin med school shortly after. How does renting, owning, or living with family impact a credit decision? Should I apply now, and put that I live with family, or wait until the end of the week so that I can indicate that I rent?

Your credit score report can be affect by more than your available credit history. We talk about how credit cards, mortgages, car loans, and any type of loan that reports to all 3 credit bureaus will affect your credit score. We don’t always talk about utility companies and how they can have a negative impact on your credit report. Here are utility companies I like to consider non-creditors. In other words these companies don’t give you a line credit, they just provide a service.

Utility companies

- Phone companies

- Electric companies

- Security companies

- Cell phone companies

- Water companies

- Gas companies

- Cable companies

- Internet Companies

Let’s assume you are having a tough time currently, and you stop paying your cable bill. The cable company will give you a little time to pay off the debt for service rendered, but will eventually turn that debt over to a collection company. The collection company in return will report that obligation to the 3 credit bureaus wanting their money. This is how it works with any of the companies mention. Once this collection reports to the credit bureaus your credit rating just dropped about 100 points. Utility companies on the other hand don’t help your credit when you are in good standing, but will also hurt your credit score if you don’t pay. Once the collection hits your credit report, and you finally decide to pay off the collection, the collection will be on your credit report for 7 years. 7 years of negative information will be on your credit report. If you don’t pay the collection, the collection company can sell the collection repeatedly to different collection companies which will ultimately drive down your credit score even more.

Pay your bills on-time

If you get behind, call your creditors immediately and work out a payment arrangement with them. They will typically work with you, especially during tough economic times. A creditor or utility company would rather get some form of payment versus nothing. If you don’t pay your bills including utility bills it will affect your credit score report. With lending getting extremely tough currently, your credit scores are more important than ever. If you have credit issues, the banks may look at your credit history as too big of a risk for there portfolio.

Don’t assume if you don’t pay utility it will not affect your credit. Because it will affect your credit, and will not go away until you pay it off. If you are unsure what is on your credit report, get a copy of your free credit score report today.

By: Mike Clover

About the Author:

bliss seeker asked:


Am a single mom tired of wasting money on rent and been wanting to live off the gird for a long time.

Mike A asked:


I recently checked my credit report and noticed that three credit inquires I made this December (MC, Discover & Visa) were still on my report. How long do they stay?

kadabra1001 asked:

================================ || New Job/Pirate Restaurant Commercial || ================================ They say a man should always dress For the job he wants, so Why’m I dressed up like a pirate In this restaurant? It’s all because some hacker Stole my identity Now I’m in here every evening Serving chowder and iced tea Shoulda gone to: Free credit report dot com Yee-haa! I coulda seen this coming at me like an atom bomb They monitor your credit and send you email alerts So you don’t …

joeinchino2000 asked:


I had an apt complex in California put a negative item on my credit report. The charges they list are invalid (they made up charges over 30 days after we moved out) but they hired a collection agency and I now have this thing on my credit report. How do I challenge it to get it off?

anpresco asked:


My boyfriend and I are applying for a home loan. The loan officer wants to use both of our credit and financial info for the application. I have both the better credit and longer employment history, but need my boyfriend’s additional income to qualify for the amount we need to purchase a home. Will his less than established credit hurt us, or will it not matter?

Credit reports and scores are a popular topic among home buyers these days. In truth, this has always been an important topic for people buying a home, but it’s even more important today.

After the subprime lending crisis that came to a head in 2007, the federal government began to tighten down on mortgage lenders. In response to the alarming number of mortgage foreclosures, the government stepped up regulation of lenders. And as a result, those mortgage lenders will pay closer attention to a borrower’s credit score today than they did a few years ago.

So what kind of score does a home buyer need in the current economy? As in the past, this depends on the individual mortgage company involved and their particular lending practices. But one thing is for certain — a better credit score will certainly make your home buying process easier. It will help you qualify for a loan quickly, and it will also help you secure the best interest rate on that loan.

Let’s Get Specific – The Average Score in the U.S.

Ask ten different financial experts what the average credit score in the U.S. is, and you will probably get ten slightly different answers. With that said, most will agree that the average score falls between 650 and 700. Keep in mind that higher is better.

Additionally, a score of 720 or higher is ideal for the home buying purposes. You will have no trouble qualifying for a mortgage loan with a score over 720, and you’ll also quality for the best interest rates and terms. This is key, because it translates into a smaller mortgage payment each month. And who doesn’t want that?

Improving Your Credit Before Buying a Home

Now let’s assume that you have requested copies of your credit scores from a website like MyFICO, and it you’ve found that it is lower than average (and certainly lower than the ideal range of 720 or above). How do you go about increasing your score before buying a home?

Here are some things you can do:

Most importantly, make sure that you pay all of your bills on time (credit card bills, car payment, etc.). This will improve your score faster than any other single act. It’s also wise to pay down your debt as much as possible, starting with those credit card balances. This will give you a more favorable debt-to-income ration. Lastly, be sure to avoid any new lines of credit or loans. You don’t want any new forms off debt dragging you down when trying to buy a home.

So let’s summarize what we have learned…

What credit score do you need in order to buy a home? That will depend on the lender. But most experts agree that a 720 or above is needed to get the best interest rate on your mortgage loan. You might get approved for a loan with a lower score than that, but you certainly won’t get the best interest rate.

So the key is to (A) know what your score is in the first place, and (B) work hard to improve it before applying for a mortgage if it’s low. These have always been important things for home buyers to do, but they are even more important today as a result of the tougher regulation of the lending industry.

By: Brandon Cornett

About the Author: