by kathywardteam | Feb 1, 2013 | Revolving/credit card accounts, Scores
We have just seen evidence that some mortgage scoring models prefer a very small balance on at least one credit card. Equifax score rose 9 points when a client added $10 balance to one credit card. Paying your cards to zero every month does boost scores, however...
by kathywardteam | Jan 26, 2013 | Revolving/credit card accounts, Scores
In your credit reports credit card accounts are referred to as ‘revolving credit’. Because your credit score is calculated independent of your income, your use of revolving credit is very important. Keeping your balance 30% or less of your credit limit and paying...
by kathywardteam | Jan 2, 2013 | Home Buyers
If you’re looking to purchase, today’s historically low rates will allow you to purchase a more expensive home without breaking your budget. We’re in that sweet spot of low prices & low rates. Now is a great time to buy! Some argue that you need...
by kathywardteam | May 21, 2012 | Scores
CK, a consumer credit monitoring site, is not accepting new clients. At this time, they continue to provide service to those who signed up prior to about April 1st. RUMOR HAS IT a new online site is being generated to take the place of CK. The middle of June, 2012, we...
by kathywardteam | Jan 30, 2012 | Revolving/credit card accounts
Cancelled debt may constitute income that is subject to state and federal taxation. Consult with a tax professional if you receive a 1099-C form. We have heard of these forms being sent out fifteen years after debt had been generated. If you don’t submit this...
by kathywardteam | Dec 29, 2011 | Scores
Every lender has their own computer generated scoring model. Lender A might give more importance to payment history than lender B. Lender B might give more importance to length of credit history than lender C. Etc. And, most lenders now give more importance to...
by kathywardteam | Oct 12, 2011 | Revolving/credit card accounts
You might be confused to find you have an account reading AMEX/DSNB. Macys is now associated with American Express, which is noted as AMEX in credit reports.
by kathywardteam | Sep 13, 2011 | Scores
Credit Keeper has an error occurring…they are sending alerts regarding new account activity, usually a collection. However, within the credit report the date collection was opened is not recent. This appears to be a CK computer problem.
by kathywardteam | Sep 12, 2011 | Revolving/credit card accounts, Uncategorized
The person added as ‘authorized user’ does not need to use the account, or be provided a credit card for use, therefore the holder of the account is not impacted by this move.
by kathywardteam | Sep 12, 2011 | Scores
Sometimes your scores will drop when activity occurs on a derogatory account, such as settling a collection account. However, the scores generally rise above previous level in 30 – 60 days.
