The term credit can mean many things. For most people, it is the ability to borrow today and pay later. The idea of “credit-worthiness” defines our personal finances, and reaches out to all parts of our financial lives. Credit can be an accounting term. You can talk about credit cards, your credit history, your credit score, or the three credits you got in college for taking Bowling. This page is the credit nerve center of ThinkGlink.com. From this page you can learn more about what credit means and how having good, bad, or mediocre credit affects your personal finances.
Closed By Consumer Stated On Credit Report
A reader found "closed by consumer" several times on her credit report. Ilyce states that it is impossible to remove these closed accounts and that it is best to hold a credit card for a long time.
How To Dispute Credit Report Errors
If you find errors on your credit report you need to immediately report them to the three credit reporting bureaus - Experian, Equifax, and Trans-Union. The credit reporting bureaus are required by law to investigate and resolve disputed information within 30 days. If the information is incorrect, and you can prove that, then the credit reporting bureaus must correct this information quickly.
Personal Finance Advice: Credit Monitoring Services
Credit Monitoring Services are in demand right now, as consumers want to protect their identity and their credit history. The three credit reporting bureaus. Equifax, Experian and Trans-Union each offer monthly services to monitor your credit. They will notify you if someone accesses your credit history or social security number or if there are changes to your credit history.
Understanding How Credit Scores Work
How are credit scores calculated? How can you improve your credit score? What's a good credit score? What's a bad credit score? Turns out most of us don't know the answers to these questions. According to a new survey, most consumers do not have the slightest idea what credit scores measure, what good and bad scores are, or, how their credit scores can be improved.
Improving My Credit Score
Want to improve your credit score? What you can do to get your credit report, get your credit score, and what you can do to make your credit score higher.
No Checking Or Savings Account? Use Prepaid Cash Card
Prepaid cash cards have come to the financial rescue for millions of Americans who don't have a checking or savings account. Having a checking or savings account is better for Americans, because it gives them more options. More than 250,000 people don't have a checking or savings account, so they use a prepaid cash card.
Late Payments On Credit Card Means Trouble
Late credit card statements can change your credit score, and not for the better. There are many online resources to help shop for a lower interest rate, help you budget, and help make payments on time.
Mistakes In My Credit Report
What do you do if you find a mistake in your credit report? If there has been a mistake reported as fact by the credit reporting bureaus, you can file a complaint and ask for an investigation of your account. It might not be easy, but there are ways to clean up your credit report.
Credit Report Contains Liens, Bankruptcies And More
What can you find in your credit report? A credit report lists both good and bad credit items such as credit cards, liens and bankruptcies. Learn what bad credit items are and how to fix them on your credit report. If you don't understand something on your credit report an accountant may be able to help you.
Credit Card Versus Debit Card
Credit cards allow you to borrow up to your credit limit, which usually exceeds the amount of cash in your checking account. You're not actually borrowing real dollars, you're borrowing the credit card company's money. In many cases, banks offer credit cards, so you're borrowing the bank's money. Cash debit cards are a cross between credit cards and checking accounts. You can pay for your goods and services with the cash debit card just as you would a credit card. But instead of borrowing the credit card company's money, the money comes directly from your checking account.