Report Advice

Good saving habits and good credit go hand-in-hand

Posted on Feb 16 2011 by

Dear Readers,

February 20-26 is America Saves Week. But why talk about saving in a credit advice column? The answer is that savings and good credit go hand-in-hand. You can’t have one without the other.

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The meaning of “satisfied” and its affect on credit scores

Posted on Feb 16 2011 by

Dear Experian,

What does satisfied mean on your credit report and does it help your credit rating?

- PST

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Collection accounts may be for more than original debt

Posted on Feb 02 2011 by

When an account has been purchased by another lender, or transferred to another lender, and the new lender starts collections on the account, can the “Credit limit/Original amount” that is been recovered be higher than the amount shown on the credit report? This amount has not changed from the original lender to the new one.

- CTR

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Adding new spouse as authorized user can help build credit history

Posted on Feb 02 2011 by

Dear Experian,

My wife had no credit history before we were married. I set her up as authorized user for a couple of my frequently used credit cards. Does this help her build up her credit history?

- HNA

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Marriage will not affect your credit monitoring service

Posted on Feb 02 2011 by

Dear Experian,

If I get credit monitoring for myself for all three credit bureaus, how is that impacted if I am married?

- YSK

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Accounts deleted after dispute could be returned to your credit report

Posted on Feb 02 2011 by

Dear Experian,

I disputed an account and it was deleted because the lender didn’t respond in time. I just got a letter saying they are putting the account back on my report. Can they do that?

- RLG

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Why banning access to credit for students is a bad idea

Posted on Jan 19 2011 by

Dear Experian,

I currently have no credit history and graduated from college last year. I have applied for two credit cards four months apart and got denied for both due to insufficient credit references and revolving credit accounts. I really want to establish my credit for the future. What can I do to get approved the next time? Also, is there anything else I can do to start building my credit?

- ASA

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Mortgage modification should not be confused with mortgage refinancing

Posted on Jan 19 2011 by

Dear Experian,

In order to refinance our home we might have to miss two or three payments to qualify for a modification loan. We have an excellent credit rating now. Is there a way we could miss these payments without affecting our credit rating?

- KHR

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Auto repossession will not be removed after paying remaining balance

Posted on Jan 19 2011 by

Dear Experian,

I recently had my car repossessed. Within a very short period of time I paid my remaining balance in full. I also have a statement from the creditor proving my $0 balance. Is it possible with this paid in full letter that the repossession can be removed from my credit?

- JMS

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Data Privacy Day – tips to help you be a safer, smarter user of new technology

Posted on Jan 19 2011 by

Dear Readers,

Data Privacy Day is Jan. 28, 2011. Here are some tips from Experian and ProtectMyID™ to help you become a safer, smarter user of new technology.

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Personal report lists who has requested your credit report for two years

Posted on Jan 05 2011 by

Dear Experian,

I need to know who has inquired on my credit report. I have a copy of my credit report from a lender who denied me credit and it only shows the number of credit report inquiries. I want to know who has inquired and the dates they inquired.

- DMO

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Charged off account cannot be reported after seven years

Posted on Jan 05 2011 by

Dear Experian,

Can a charge off be reported after seven years if it is sold to another company?

- YAY

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“Soft inquiries” are not an exception to access a frozen credit file

Posted on Jan 05 2011 by

Dear Experian,

Can a utility company still obtain my report with a “soft hit” on my credit, or is my information frozen and no information can be released with a state credit freeze on my account? A utility company told me they can still do a credit check on my account even when it has a freeze on it because they do a soft hit.

- SMK

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Explaining what a credit report is and why it is important

Posted on Dec 22 2010 by

Dear Experian,

What is my credit report?

- NSS

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Defining “potentially negative, closed”

Posted on Dec 22 2010 by

Dear Experian,

Does “potentially negative, closed” mean the account was paid?

- MLL

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Cosigning mortgage for daughter can impede access to future credit

Posted on Dec 22 2010 by

Dear Experian,

I cosigned on a mortgage loan for my daughter. My credit report shows this as my mortgage, even though I am not making payments. Does this reflect on my credit if I want to take out a loan in the future? And if it does, what can I do about it?

- ZIM

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Why both creditors appear on your report after a loan is sold

Posted on Dec 08 2010 by

Dear Experian,

One creditor sold an account to another. Why are they both showing up on my credit report?

- DSH

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The impact of using 99% of your available credit before applying for a mortgage

Posted on Dec 08 2010 by

Dear Experian,

I was looking at my credit report online and it showed that I am using 99 percent of the credit available to me. What does that mean? Also, I know that I have one student loan that is at almost $60,000. How much effect is that going to have on me if I am trying to get a home loan?

- RAH

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You don’t need a textbook to learn how to read your credit report

Posted on Dec 08 2010 by

Dear Experian,

Do you have online booklets explaining how you can read a credit report?

- ECL

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Never send debt payments to credit reporting companies

Posted on Nov 24 2010 by

Dear Experian,

How and where can I repay or pay on a debt that’s on my credit report?

- TCP

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Bankruptcy has greatest impact on scores, collections a close second

Posted on Nov 24 2010 by

Dear Experian,

What is worse, having several credit cards in collection or having a bankruptcy on your credit report?

- JUA

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Rebuilding credit after job loss

Posted on Nov 24 2010 by

Dear Experian,

I lost my job two years ago and have had a bad patch paying my bills. My credit score dipped substantially. I managed to get on plans with my late accounts and am on track to be debt free in about three years. Can my score ever improve?

- THO

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Preventing stolen checks from impacting your credit report

Posted on Nov 10 2010 by

Dear Experian,

About a year ago my checkbook was stolen. Whomever it was stolen by has continuously written bad checks in many places. I filed a police report and closed my bank account one week after I discovered my missing checkbook. I was honestly unaware that this would affect my credit report. How do I get all this fixed?

- CKE

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Getting your personal report does not affect credit scores

Posted on Nov 10 2010 by

Dear Experian,

Does it affect my credit score if I pull my own credit report more than twice a month?

- LAK

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How you might not qualify for bankruptcy protection

Posted on Nov 10 2010 by

Dear Experian,

How do you not qualify for bankruptcy?

- EYC

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