Posts Tagged ‘ credit ’

Debt consolidation might help, but also could hurt your credit

Dear Experian, Does debt consolidation for credit cards with high interest rates help your credit? - SRO

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Obtaining a free report after being declined or adverse action is taken

Dear Experian, I was approved for a credit card in October 2013. I have never exceeded the limit and have made all payments on time. I just received a notice that they are reducing my credit limit to the same amount as my current balance on the card. The reasons state, “Derogatory public record information, too few accounts currently paid as agreed, length of time of credit established, and lack of recent installment loan information.” One of the other credit reporting companies will not release a free credit report. This doesn’t seem right to me. What should I do? - PSJ

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Late payments during mortgage modification can be reported

Dear Experian, I have never been late with mortgage except the two months I was working on a mortgage modification with my mortgage company. I was told not to pay my mortgage payments until a determination was made, yet my account shows I was two months late. Why? - SKV

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Closing store credit cards could affect your credit scores

Dear Experian, Can closing a few of my department store credit card accounts affect my credit scores if I have established good credit and have high credit scores? My husband wants to eliminate our higher interest rate cards. - LTB

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Getting your credit scores before buying a car

Dear Experian, I'm buying a car and would like to know my credit score. How can I obtain this before shopping? - NTS

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Authorized user’s credit scores could be hurt if mother doesn’t pay

Dear Experian, I am an authorized user on my mother’s account. Will it affect me if she misses payments? Will it hurt my credit? - SHN

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Credit card balance can affect credit scores even if paid in full each month

Dear Experian, My credit score factors say “amount owed on revolving accounts is too high,” but I pay the balances off every month. I make more than $1 million per year and have no debt at all. Please explain why this is a factor in my score. - TRZ

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Student loans are debt obligations like any other loan

Dear Experian, My student loans are affecting my credit. Why? - NCB

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You must submit request in writing to permanently opt out of receiving prescreened offers

Dear Experian, I received a letter from Experian today regarding permanently removing my name from pre-approved credit offer mailing lists. The letter is requesting name, Social Security number, current address, and previous address. I would like to permanently remove my name, but I am not sure that this letter is legitimate. Can you please confirm? - SBA

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National Protect Your Identity Week reminds us to be proactive in preventing fraud

As National Protect Your Identity Week (Oct. 20–26) nears an end, think about how you can actively protect your identity. Here are several ways to use your credit report to identify unauthorized activity and stop possible identity fraud before suffering potential financial loss.

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Establishing credit before going to college

Dear Experian, I am a 19 year old college student trying to establish credit early, and it would be helpful throughout college to have a low limit credit card just in case. Also, I am trying to get a car loan, and I know I need to use credit to gain credit. I applied for a credit card through my bank and was declined. I also applied for a student credit card and was declined again. How am I supposed to establish a credit history if I can’t get approved for anything? My parents are just starting to rebuild their credit themselves. Is there any way that I can establish credit without having to have somebody cosign for me? - FCS

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Requesting a security freeze for a minor child’s credit report

Dear Experian, I'm concerned that someone may use my minor child’s identification information fraudulently and I want to take precautions. How can I request a security freeze on a minor’s credit file? - SRD

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The meaning of “key derogatory” as a credit score factor

Dear Experian, What does "Key Derogatory” mean? - RTC

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How to request a credit report if you are incarcerated

Dear Experian, How does an inmate go about getting a credit report? Where can he get the proper forms to fill out without access to the internet? - NTP

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Collection agency may request a report without your permission

Dear Experian, Can a collection agency request your credit history without your consent? I have one on my report under "inquires shared with others" in which I did not consent. - LDA

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Reporting positive rent payments can help your credit scores

Dear Experian, How can I report my rent payments? My landlord does not. - TCR

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Student loan will appear on cosigner’s credit report as well as the student’s

Dear Experian, If I cosigned for a student loan, will the loan balance show on my credit report, or it will only show on the student’s credit report? - CSY

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Loan modification could hurt your credit scores depending on how it is modified

Dear Experian, I am interested in a modification on my mortgage loan. I would like to modify my repayment When I asked the bank if a modification would negatively impact my credit scores, I was told that it may be reported to the three credit reporting companies, but that the impact to my credit scores would be up to you. Would a modification, lower monthly payments or deferred payments lower my credit scores? - RYR

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Experian does not extend credit or provide credit cards

Dear Experian, How can I get a credit card with Experian? - SHL

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Dispute results letter is sent automatically

Dear Experian, Can I get a letter about the results of a dispute after the 30 day mark? I am trying to buy a house and they need the letter. - KLZ

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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

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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

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