Posts Tagged ‘ credit scores ’

Transferred/closed student loan history still affects credit scores

Dear Experian, I recently filed a dispute to get the status of my federal student loans changed. They were reported as delinquent because of missed payments. However there was a forbearance put on the account, and after the dispute, the status was updated to transferred/closed. Should my score improve with this update? - CMW[ READ MORE ]

Not enough activity to generate credit score

Dear Experian, Recently we were told my husband’s credit report with Experian was not reporting and that his credit score is not available. We received a message that says “Factor 9002, Risk Score not available due to model exclusion criteria.” What do we need to do to correct this? - RCH[ READ MORE ]

Authorized user accounts could factor in to credit scores

Dear Experian, Do items on my credit report in which I am listed as an "authorized user" contribute to my score? - DRH [ READ MORE ]

Key to improving scores is making payments on time, not hiring credit repair

Dear Experian, I paid a credit repair specialist $1,800, and seven months later my score has only improved a little. I need help to improve my score. Can you guide me? - DSG [ READ MORE ]

Being unemployed will not hurt scores if bills continue to be paid on time

Dear Experian, Will a period of unemployment hurt my credit scores? - JNO[ READ MORE ]

Ordering your own credit report won’t hurt your credit scores

Dear Experian, Is there any way I can check my credit score without it hurting my score? How much does it hurt me to order my credit score? - KWS[ READ MORE ]

Alarm company can turn past due account over to collections

Dear Experian, I have a dispute with a security alarm company. They have implied a contract extension on a policy that I did not approve. I have not made a payment on the policy since November 2012 and am concerned that they may eventually turn the balance over to collections, thus negatively affecting my credit, though they have not threatened such action yet. Is there an arrangement I can make with the credit reporting companies that can prevent harm to my credit in the event that issues with this company escalate? That is, can I prevent them from damaging my credit history by reporting this unpaid balance? Or is my only option to pay them? - JSS[ READ MORE ]

Name change after marriage won’t hurt credit scores

Dear Experian, I am married for a second time. Can having my maiden name and two married names negatively affect my credit score? My "middle" score is 780 but I am trying to improve to 800 plus. - TEV[ READ MORE ]

Intentional late payments for debt settlement will damage credit scores

Dear Experian, I am considering signing up with a debt settlement company. They told me that in order for them to negotiate the best deal with my creditors I must refrain from paying my bills for more than 90 days. Won’t this negatively affect my scores? - TND[ READ MORE ]

Why there isn’t just one credit score

Dear Experian, Why isn't there one credit score across the board? Could you please explain why lenders receive different credit scores than what I receive? Why are the credit scores different from each lender, such as for car loans, mortgages and other loan companies? - ICH[ READ MORE ]

Multiple auto loan inquiries count as only one

Dear Experian, I was shopping for a car recently and multiple lenders checked my credit. I have checked my credit report and all inquiries are showing up. I thought when shopping for a car the inquiries count as one? - SLA[ READ MORE ]

Business credit cards on your personal credit report

Dear Experian, I am the sole proprietor of an LLC. Will credit cards in my name and the name of the business show up on my personal credit report? - AHK[ READ MORE ]

Settled or charged off accounts in your credit report are “potentially negative”

Dear Experian, If an account is paid off/closed, settled, or charged off, why would it still be showing as potentially negative? Is there any way to get these removed so they no longer affect me negatively? - JNG[ READ MORE ]

Cosigning for apartment could hurt but might help credit scores

Dear Experian, My grandson wants us to cosign for an apartment. Does this affect our credit score in any way or just if he doesn't pay rent? - MTP[ READ MORE ]

Allowing late mortgage payments for short sale

Dear Experian, If I'm planning to do a short sale but have not yet gone behind on monthly payments, is there any advantage to not going behind on payments? In other words, does your credit get damaged exponentially in that scenario? If it doesn't really matter, then wouldn't it be wiser to just stop payments now and save the money? - MTS[ READ MORE ]

Mortgage application denied because of inactive credit history

Dear Experian, How can I get my credit file updated? I have paid off two loans and made every payment on time. However, when I tried to get preapproved for a home loan I was told my credit report was inactive because there has been no change to my report in six months. - PAT [ READ MORE ]

“Missing accounts” might not be reported by your lenders

Dear Experian, There are four accounts missing on my report, and the one account listed has the wrong creditor's name on the account. What can I do to correct this? -TMM[ READ MORE ]

Lack of mortgage loan listed as credit score risk factor

Dear Experian, I was looking at my credit report and it stated, "You do not have a mortgage account in good standing.” What does this mean? I do not own a house. - JKL[ READ MORE ]

On-time cell phone payments are not currently reported

Dear Experian, If I have a two year contract with a cell phone company, and if I pay my cell phone bill on time in full every month until the contract is up, does that build my credit score? - CMR[ READ MORE ]

Student loans reported as “claim filed with government”

Dear Experian, My student loans were consolidated into a new loan. My old student loans now state “closed/paid collection” and, “Claim filed with government for insured portion of balance on loan.” Does this negatively impact my credit scores? I see "potential negative account" on all of the old loans. Can I get these old student loans removed to improve my credit scores? - JNN[ READ MORE ]

Credit scores not impacted by employer listing or income

Dear Experian, It appears all three credit reporting agencies had listed my employer incorrectly. What impact does my correct employment and earnings have on my credit rating? -RCH[ READ MORE ]

Lowering credit limits can hurt credit scores

Dear Experian, I have heard that requesting lower credit limits can hurt your credit scores. Is this true? -MMB[ READ MORE ]

Application declined because credit score can’t be calculated

Dear Experian, I am trying to get a loan and am being denied because your company won’t list a score on me. Why? - LRT[ READ MORE ]

New spouse’s old debt won’t hurt your credit scores

Dear Experian, If I have a very good credit score and I marry someone with a bad credit score and previous debt, does that affect my credit score? - DTR[ READ MORE ]

Impact of having a repossession reinstated

Dear Experian, If you have a repossession and then a reinstatement, does the reinstatement help your credit scores? - CBN[ READ MORE ]