Posts Tagged ‘ credit scores ’

The meaning of “derogatory public record”

Dear Experian, My credit score states "time since derogatory public record or collection is too short." What is a “derogatory public record”? - JTR[ READ MORE ]

Discharged bankruptcy will still affect credit scores

Dear Experian, Once a Chapter 7 bankruptcy is discharged, will it still affect my credit score? - ADZ[ READ MORE ]

Qualifying for new credit when you have no credit history

Dear Experian, I have no credit score and am unable to get credit for a car loan. How do I get a credit score? I have my own apartment and am paying all utilities. Will that help? If so how long does it take, or where should I start? - KNY[ READ MORE ]

Deciding whether to close paid off accounts

Dear Experian, I have four accounts that have a limit of $300 each. I have had these accounts for years. I would like to know if I should close them once I pay them off. I am concerned that having credit cards with low credit limits is negatively affecting me. - JLD[ READ MORE ]

There are different credit scores, but not different “levels” of credit reports

Dear Experian, My Experian report says my score is 781. A credit card company said my score from Experian was 720 five days earlier. They said I may be receiving a different level of reports. Does Experian report different scores with a wide range of numbers? - JLD[ READ MORE ]

Checking your own report will not hurt your credit scores

Dear Experian, Will checking my own credit report through Experian lower my score? - MZN[ READ MORE ]

Adding an authorized user who has declared bankruptcy

Dear Experian, If I add an authorized user who filed bankruptcy to my credit card, will that affect my credit scores? - SDY[ READ MORE ]

Impact of balance transfers on credit scores

Dear Experian, I have a question about balance transfers. I have a credit card with a balance that I am paying interest on. My husband has an existing credit card balance transfer offer at 0% for 12 months. That card is under his name and it has no balance. If I transfer my balance to his offer, how will that affect our credit score? Also, do any balance transfers affect your credit scores as long as you do not utilize any of the accounts after the transaction? - STN[ READ MORE ]

Why inquiries can change credit scores

Dear Experian, Why does my score change with inquiries? - ADM[ READ MORE ]

New credit card not appearing in your credit report

Dear Experian, I have had a new credit card since December. They state that they are reporting to the credit bureau but I see no record of it. How can I get this card on my credit report to help my scores? - ATK[ READ MORE ]

Inquiries can have small impact on credit scores

Dear Experian, I haven’t had negative activity on my credit report for over two years, and my score was recently 674. I applied for a credit card, and they did three hard inquiries but did approve me. Then right after I got the card my credit score went down eight points to 666. I called the creditor and they said they would put in a dispute for me. Can three hard inquiries cause your credit score to go down eight points, even though I was approved? - TCL[ READ MORE ]

Time is necessary before credit score can be calculated

Dear Experian, My husband and I recently purchased a used car. He makes an annual income of $63,000 and I am a full-time, unemployed student. Because he had zero credit and I had student loans on creating a small credit score, we were only able to sign jointly for the car. He was told being the co-signer would be a great way to start earning credit. He's tried to get a credit card but continues to be denied for lack of credit. We've had the car now for four months and all payments have been on-time. We just ran his credit looking at refinancing the car to a lower interest rate and the account is there, but he still does not have a credit score. Our bank suggested contacting you to see how long it takes before he will begin earning a credit score. - CJF[ READ MORE ]

Impact on credit scores of missed payments, mortgage modification

Dear Experian, I'm considering entering into a six month reduced payment plan with my mortgage lender. I understand this will have a negative impact on my credit. Will this have a worse impact than being 30 days late on my mortgage payment? - STS[ READ MORE ]

Late payments not deleted immediately after account is paid off

Dear Experian, I have paid off an account that previously had a late payment mark on my record. Is there any possible way to remove the negative mark on my credit scores, now that the account has been paid off? - ALT[ READ MORE ]

Renewing pre-approved car loan likely will cause hard inquiry

Dear Experian, I applied and was approved for an auto loan through my credit union, which I have numerous accounts with - mortgage, savings, money markets, and credit cards. Twice I've let the preapproved loan expire and asked to have it re-approved. I have not made a decision on a car. Each time I have it re-approved I get a notice that includes my credit score. It's always really good. Am I harming my credit scores by letting the loan offer expire and resubmitting again? I need to do this for a third time (and this time I plan to use it!), but wondered how this fits into what you've told us before about inquiries with "existing creditors." - LGD[ READ MORE ]

The impact of loan modification on credit scores

Dear Experian, How will a loan modification affect my credit scores? I've never been late on my payments and have been approved for a modification without any late payments. - HBO[ READ MORE ]

Credit scores hurt by lack of revolving accounts

Dear Experian, My credit report says my score is reduced because I have no revolving credit accounts. Would it help my score to apply for and use a credit card? - RYN[ READ MORE ]

Requesting lower credit limits could hurt credit scores

Dear Experian, If I lower my credit limits on my credit cards, does that lower my credit score? If so, why? - PGR[ READ MORE ]

Impact of inquires from utilities, cable TV, rent, and cell phones on credit scores

Dear Experian, How do inquiries from utility, cable television/internet, cellular telephone and residential rentals impact credit scores since payment histories are never reported? - MDB[ READ MORE ]

Improving credit score without credit card

Dear Experian, How can you improve your credit score if you don't have any credit cards? - HQB [ READ MORE ]

Inquiry for employment will not affect credit scores

Dear Experian, I have been applying for work at employment agencies. They want my permission to conduct a credit check. My concern is that I was told in the past that if too many people are doing credit checks on me, it signifies a problem and can reduce my credit scores. Is that true? - CICc[ READ MORE ]

Repossession remains seven years and can affect credit scores for the entire time

Dear Experian, How long does a repossession reflect on your credit report, and how does it affect your credit report? - MMY[ READ MORE ]

Finding out what accounts are hurting your credit

Dear Experian, How can I find out what accounts are hurting my credit? - RBR[ READ MORE ]

You cannot dispute a credit score

Dear Experian, Can I dispute the score? I have a creditor that hasn’t reported me current on several opened accounts. I show current with Experian and one of the other credit agencies but there is no account data with the third. I show the lowest score from them. - NTA[ READ MORE ]

Declination notice received after withdrawing loan application

Dear Experian, I withdrew an application for credit from a national bank on the same day of my request. They still sent me the packet, and then several days later they sent me a declined notice. Does this affect my credit score? - CHR[ READ MORE ]