Credit report free credit score Rapid City

MoneyWatchs Jill Schlesinger asked John Ulzheimer, president of consumer education for Credit.com, to name the most common misunderstandings and to tell us what will really hurt (or help) your score.

With FICO scores typically ranging from 350 to 850, 35% of the points on your score are directly tied to whether youre making your payments on time, says Ulzheimer. That leaves 65% of your score that has nothing to do with missed payments. You cannot hang your hat on whether or not you are just making your payments on time, and assume you have fantastic credit he says. Im quite sure the credit report free credit score Rapid City credit card industry started that [rumor], Ulzheimer says with a chuckle. Although carrying balances will cost you in interest and financing charges, from a credit score perspective, theres nothing wrong with carrying a balance on your credit card. But very large balances will affect your creditization the percentage of your credit limit that youre carrying as a balance. request free credit report You need Javascript enabled to view the video player. What you really want is a relatively low balance never more than 15 percent of your overall limit. Although a lot of people treat them as though they are interchangeable, credit reports and credit scores are two completely different things. Employers in most states can look up your credit credit report free credit score Rapid City report as part of a pre-employment screening (and during your term of employment) but they do not have access to your credit score.

Any lender, insurance company, landlord, or utility provider can buy your score from one of the three accredited credit report agencies. They use that score to determine the amount credit report free credit score Rapid City of risk theyre taking in credit report free credit score Rapid City doing business with you then use it to grant or deny you, and to set the terms. canadian free credit report This one is partly true: Whether you face a short sale, a foreclosure or bankruptcy credit report free credit score Rapid City proceedings, youll have that black mark on your credit report for at least seven years. (A bankruptcy will actually be on there for 10.) But your credit score does improve as that item gets older; you just need patience and good behavior. And as a matter of fact, you can have a very solid credit score in three or four years. The assumption is that a short sale is actually better for your credit score than a foreclosure, but in reality, they have the same effect. Its certainly better for the neighborhood than a foreclosure would be someone is keeping the house clean, mowing the lawn, not ripping copper piping out of the wall but from a credit-score perspective, there is no difference. Subscribe to this discussion via Email or RSS credit report free credit score Rapid City As previously working in the industry as a loan officer, I have to say this is the first accurate article I credit report free credit score Rapid City have seen pertaining to credit. all 3 free credit reports

I have been looking for a secured card to put 10K on just so I will not have to deal with any of this, I get more then 10 CC offers every day in my email and the worst thing is if you apply for the stupid cards they ding your credit rating, who invented the credit rating?