Establishing Credit

How Credit Scoring WorksThe all important credit score! It determines the amount of loan you can get, it determines the interest rate at which you are charged for a loan, etc. Your credit score plays an important figure in your financial life.

Credit Reports Inside and OutThe Credit Report is like your scorecard in the lending world. Every time you prepare yourself to acquire or purchase something that requires financial assistance from a lending institution, your credit report will be your "presentation card".

Identity Theft - Dont Think You Are ImmuneAs identity theft becomes more prevalent, the need to regularly check your credit report is very easy to see and understand. Two big headlines in the news recently point to how closely tied your credit report and identity theft are.

Credit Reporting: How Does It Work?In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes.

What is the Check 21 Act?Check 21 is the common name for the Check Clearing for the 21st Century Act. It's new legislation that was recently passed by congress and made a law when signed by the President of the United States (remember "I'm just a bill" from Saturday morning cartoons).

Credit Cards - The Top 3 Things You Need To KnowToday there are so many different credit cards available, student prepaid, low interest cards etc. that it has becomes a real hassle to find the right one that will suit your needs.

Credit Score: The Brightest Feather In Your Financial CapCredit scores are the most important aspect that determines your financial future. Carrying a good credit score is an asset and can pave your future towards greener pastures.

Credit Card Is Adding The Silver Lining To Your PocketIn the new millennium plastic money or credit cards has rendered a new zing factor to your pocket. This has not only made you economically more flexible but subsequently added glamour to your financial image as well.

Why Does FACTA Matter to Me?FACTA stands for Fair and Accurate Credit Transaction Act. FACTA is the law which allows any American access to their credit report once per year.

I've Heard About FACTA; What Does It mean?What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500.

Establishing Credit - What You Need To Know Part 1Establishing credit is one of the most important things you can do in order to add stability to your financial record and dramatically increase your ability to borrow necessary funds in order to purchase a new home, new car or even pay for college expenses. Unfortunately credit has two sides to it that consumers can exploit.

Establishing Credit - What You Need To Know Part 2In my previous article "Establishing Credit - What You Need To Know Part 1" I discussed the need for a good credit history and what lenders were looking for prior to loaning an individual money or additional funds based on their credit history. This article will go into the necessary steps someone needs to take in order to initially establish their credit history.

Credit CardsCredit cards are a form of unsecured credit. The issuer is extending you a line of credit, usually tacking on all sorts of little surprises in the fine print.

Know Your Credit Card RightsWhen you apply for a credit card, the application that you sign is also a legally binding contract laying out all the termsbetween you and the bank, such as the interest rate and how its calculated, the grace period, whether there's an annual fee, etc.While you have to agree to the terms and sign if you want the credit card and while the lender will certainly hold you to the terms, the lender doesn't feel similarly committed.

ChexSystems: Who They Are and How it Affects YouChexSystems is a company that maintains a subscriber membership service used in the banking industry. The members consist mainly of Banks, and Credit Unions, but can include other types of Financial Institutions.
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