FAQ Archives

What influences your credit scores?

May 11th, 2011 by Cara

payment history (35%) -level of indebtedness (30%) -age of credit history (15%) –credit inquiries (10%) -types of accounts (10%)

Who sees your credit report?

May 11th, 2011 by Cara

Court Ordered – YOU – credit transactions, credit review of existing customer, debt collection – employment screening -insurance underwriting – government license screening – state or local child support enforcement authorities.

What does your credit report not include?

May 11th, 2011 by Cara

Your level of education, medical history, purchases paid by cash or check, gender, national origin, race or religion, your investments, income, alimony commitments.

What kinds of personal information is on your credit report?

May 11th, 2011 by Cara

Name, telephone number, address, social security number, date of birth, and current employer.

What is Equal Credit Opportunity Act?

May 11th, 2011 by Cara

Law prohibits credit denial based on your sex, race, age, religion, marital status, national origin or receipt of public assistance. You are entitled to an explanation of any credit denial.

What constitutes an acceptable credit score for a student loan?

May 11th, 2011 by Cara

700 to the maximum of 850.

How often can I request a free credit bureau report?

May 11th, 2011 by Cara

Annually.

Website address to request free credit bureau report?

May 11th, 2011 by Cara

www.annualcreditreport.com

What is a Credit Bureau?

May 11th, 2011 by Cara

An organization that tracks repayment of credit obligations, data stored on your credit report and is available to other financial institutions and ranked as to your credit worthiness or credit risk.

What is graduated repayment?

May 11th, 2011 by Cara

Monthly payments gradually increase, usually every two years – hopefully along with your income.

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