Updated September 27, 2021 If you want to earn great credit scores, pay your bills on time every month. The previous statement is good advice; however, it is also incomplete. Paying your bills on time is not enough to achieve and maintain great credit scores. Only 35% of…
Category: Credit Scoring
Equifax Data Breach: How to Find Out If You’re Affected and What to Do About It If You Are
In September of 2017, the credit reporting giant Equifax announced some very unsettling news. The credit reporting agency experienced a massive data breach which unfortunately compromised the personal identifying information of approximately 143 million people.
Who Is Allowed to Check Your Credit Reports?
Accessing your credit information is easier now than it has been at any other point in history. Thanks to the Fair and Accurate Credit Transactions Act, an amendment to the Fair Credit Reporting Act (FCRA), you even have the right to view a free copy of all 3…
The Difference Between Hard Inquiries and Soft Inquiries
Credit scores, like FICO and Vantage Scores, are based upon a variety of factors. For FICO scores the factors which make up an individual’s credit scores fall into 5 categories. The least influential categories, Mix of Credit and Inquiries, each account for 10% of a consumer’s credit scores….
How Do I Know When Something Has Been On My Credit Report for Too Long?
Overcoming past credit problems can sometimes be a long, tedious process (especially if you are going it alone without professional assistance). However, thankfully there is a strict time limit regarding how long past credit mistakes are allowed to haunt your credit reports. In other words, most negative credit…
The Ideal Credit Card Balance to Optimize Credit Scores
As a reader of the GreatCredit101 Blog you already know that credit cards can be a very powerful tool – when used properly – to help drive your credit scores upwards. A credit card with a $0 or very low balance can potentially help to give your credit scores…