Are you in favor of lowering the standards of credit scores to help the economy?
Dr. Ernest J Folk asked: With the economy down and it impossible to get credit. Do you think it is a good idea to lower the credit standards so that it is easier to get credit. For example. Those that currently have high credit scores should be able to pay no interest [...]
Importance of Credit Scores
Credit scores can have a big impact in many areas. Credit scores determine if someone gets approved or
declined on any type of credit.
Credit scores are defined as
numerical expression based on a statistical analysis
of a person’s credit files, generated by a
mathematical algorithm.
To be more exact, credit scores are determined on
the basis of the certain amount of [...]
How do you know the item on your credit report is from which credit burea?
0808 asked: I got a credit report from a lender (the lender type of credit report), it lists 3 credit scores.
There is a same tax lien listed twice, one has account number , the other doesn’t has an account number. Which credit bureau should I contact for this issue? How do [...]
My credit card balance is over 50%. How long will it take my credit score to go back up?
Casey asked: Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next [...]
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