America Saves Week is Feb. 22 to March 1

Posted on Feb 19 2009 by

Dear Readers,

February 22 to March 1 is America Saves Week, which is sponsored by more than 100 companies, including Experian. You might wonder what saving has to do with credit, and the answer is a lot, especially in today’s difficult financial times.

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Experian and myFICO.com

Posted on Feb 19 2009 by

Dear Readers,

Many of you have sent emails expressing concern that Experian discontinued its relationship with myFICO.com. I would like to provide you with some additional information regarding that decision.

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Inquiries by existing creditors won’t hurt your credit scores

Posted on Feb 04 2009 by

Dear Experian,

There are numerous credit checks performed by credit card companies I’m not active with. Does this lower my score?

– JRR

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Cosigning for stepson can hurt your credit report

Posted on Feb 04 2009 by

Dear Experian,

I cosigned for a car for my stepson. I thought that if he didn’t pay I would be responsible for the loan, and I was fine with that. What I didn’t realize is that if he was late with his payment, my credit would be affected. I had a credit score of 803 when I signed. He missed payments, and now my credit score is lower. Even though this is not my loan, will my credit report be affected for seven years? Is there a way to correct this?

– LPH

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Correction on Experian report should also be made on other credit reports

Posted on Feb 04 2009 by

Dear Experian,

When one thing is corrected on an Experian credit report as the result of a dispute, does that mean it is corrected on the other two credit reports?

– DDS

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VantageScore grade of “B” is very good

Posted on Feb 04 2009 by

Dear Experian,

I have a “B” rating with an 838 score. Is this regarded as a good score?

– EFF

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Tax liens and your credit report

Posted on Jan 21 2009 by

Dear Experian,

I have tax liens showing on my credit report, but have taken care of them a long time ago. I have documentation showing that they are paid, but I don’t know how to get them off my credit. What do I do?

– UBB

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Defining “revolving trade” and other credit report terms

Posted on Jan 21 2009 by

Dear Experian,

What is an open, revolving trade?

– JUS

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Getting credit report updated quickly after debts are paid

Posted on Jan 21 2009 by

Dear Experian,

I’m paying off all of my husband’s debt rather than settling. I’m capable of paying the balances in full and am getting confirmation of “paid in full” for theses accounts. Is there a way to speed up the process of having the credit bureaus update his credit file and score so that it immediately reflects that his payments have been made for these debts? May I contact the agencies directly to provide them with this information?

– MDW

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Requesting a decrease in your credit limit can hurt credit scores

Posted on Jan 21 2009 by

Dear Experian,

Your creditor raises your credit limit. As a consumer, you are not comfortable with the increase, and you would like to lower the credit limit. What impact does this have on the consumer’s credit score?

– YLO

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Accounts not deleted when bankruptcy is discharged

Posted on Jan 07 2009 by

Dear Experian,

My bankruptcy was discharged in February, and I was under the assumption that all the accounts would be taken off my credit report. Did I receive the proper information regarding this situation?

– RRI

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What happens when you pay off “bad” credit

Posted on Jan 07 2009 by

Dear Experian,

When a piece of “bad” credit exists on my report, what happens if I pay it off? Is it automatically updated to “good” credit? Does it still reflect negatively on my report? Are the months that I could not pay still reflected, but changed to a $0 balance?

– GTH

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How to find out who has requested your credit report

Posted on Jan 07 2009 by

Dear Experian,

How do I find out who has been inquiring about my credit? If there are people that I never applied for credit with, can I get the inquiry removed, and will that help my credit score?

– CKY

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How long does it take for paid off accounts to show zero balance

Posted on Dec 24 2008 by

Dear Experian,

If I pay off all of my credit cards to a zero balance, how long does it take for that payoff to show up in an improved credit score? I want to pay off all of my cards and improve my score for a mortgage application.

– ANG

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Paid collection accounts not removed from credit report immediately

Posted on Nov 26 2008 by

Dear Experian,

If I pay the bills that were sent to collection will they come off? How do you get them off? I’m trying to get a home in the next few months and my credit score is low.

– AMH

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Unpaid hospital bills can affect your credit

Posted on Nov 12 2008 by

Dear Experian,

Do unpaid, uninsured hospital bills affect your credit?

– SSI

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Removing bankruptcy from your credit report

Posted on Nov 12 2008 by

Dear Experian,

It’s been just about 10 years since my bankruptcy was been discharged. How do I go about getting it removed from my credit report?

– ENZ

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The impact on credit scores when you exceed your credit limit

Posted on Oct 15 2008 by

Dear Experian,

Will going over the credit limit on a credit card affect my credit negatively, even if the creditor does not charge a fee?

– CHO

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Getting free credit report when application is declined

Posted on Oct 01 2008 by

Dear Experian,

I have been denied credit. Can I get a free copy of my credit report?

– ZLR

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Loans from your 401k do not appear on your credit report

Posted on Sep 03 2008 by

Dear Experian,

Can my portfolio/mutual funds/401k be added to my credit report, depicting net worth? Is there a section on the credit report that shows a person’s net worth? Can personal loans that I have taken from my 401k and paid back faithfully be added as positive information to my credit report?

– NTU

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Medical collection accounts on a credit report

Posted on Aug 20 2008 by

Dear Experian,

I have a customer who is trying to resolve a credit issue. I work for a bank. The account entry says “Medical Payment Data.” He does not know how to contact these people to pay the account. Can you help me help this customer?

– FNB

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Tradelines and your credit report

Posted on Aug 06 2008 by

Dear Experian,

Is adding tradelines to your credit beneficial? What are the pros and cons of tradelines? Do you have any documentation concerning tradelines?

– RRI

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The meaning of “closed/current” and other account status descriptions

Posted on Jul 09 2008 by

Dear Experian,

In the status category what does “closed/current” mean? If an account was closed it should be closed right? I just do not understand why some just say “closed” and others “closed/current.”

– EJH

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Adding a fraud security alert and opting out

Posted on Jun 11 2008 by

Dear Experian,

How do I opt out online as I am an identity theft victim and am taking care of all this? I want to opt out immediately.

– JRK

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Impact of mortgage “short sale” on your credit report

Posted on May 14 2008 by

Dear Experian,

Some people are saying a “short sale” is better than a “foreclosure” on a credit report, but is that true? Don’t both circumstances drop the credit score significantly?

– NTE

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