Thursday, April 27, 2017

How Do Credit Reporting Agencies Get And Keep My Information? – Credit Card Insider

Today’s question is: How Do Credit Reporting Agencies Get And Keep My Information?
Ask us your credit questions in the comments and find your next card at

The 3 credit reporting agencies – Experian, Equifax, and TransUnion – collect information about your loans, credit cards, and other financial activity. This information is voluntarily offered by the lenders, who benefit by being able to get a good idea of someone’s credit risk by looking at their credit report. Credit scores are created based on the information in these reports. If you think that some information is incorrect or missing from your credit reports, you can file a dispute with the relevant agencies.

Every week, John Ulzheimer answers YOUR credit questions. Email us, give us a call, or ask on live chat, and we may answer your question on YouTube!

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Does Opening A New Credit Card Hurt My Credit Score? – Credit Card Insider

Today’s question is: Does Opening A New Credit Card Hurt My Credit Score?
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Several things happen when you open a new credit card, which could potentially increase or decrease your credit score. You’ll be generating hard inquiries on your credit reports and also decreasing the average age of your accounts, which will both lower your score, but you’ll also be increasing your total amount of available credit, which could improve your score.

Every week, John Ulzheimer answers YOUR credit questions. Email us, give us a call, or ask on live chat, and we may answer your question on YouTube!

To learn about credit scores, credit reports, managing debt, and how credit cards work, check out our learn section at

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Fast And Easy Access for Credit Reports With Equifax Canada

If you are a Canadian resident or citizen and you are having thoughts about applying for a loan, lenders will very likely consult Equifax Canada to provide them with your complete and confidential credit report to guide them in finding what loan or credit extension category you rightfully qualify for.

With the help of Equifax Canada most individuals can view their credit report directly from the source. The probability is that you will be able to receive this report online through Equifax customer service.

With its general headquarters based in the United States, Equifax Canada speaks of integrity as a consumer credit reporting agency. Most of the transactions are aimed at business and consumer intelligence which is possible due to the comprehensive database which allows data integration of public records, banking information and other necessary functions.

It was during the year 1999 when Equifax started to offer products that make credit history monitoring easier. This includes services such as fraud alerts for consumers that are at risk of becoming victims of identity theft or credit fraud. This consumer credit reporting agency also sells online reports and credit monitoring services subscriptions.

Equifax customer service promises tools and information for protection of personal and business account info drawn from their extensive and comprehensive data. This is equally relevant for both consumers and businesses. Personal management confidentiality is one of the major concerns of Equifax. Their veracity is primarily based on Equifax’s principle that all consumers have the right to credit as categorized by his/her credit file.

The Equifax address in Canada is in Montreal, Quebec. For consumers who want to contact Equifax Canada, the agency is reachable toll free at the Equifax telephone number of 1-800-465-7166.

Customers have continuously trusted Equifax for more than 100 years with the fundamental objective of furnishing pioneering solutions and reliable results.

The Preventing Identity Theft site offers tips to increase credit score, as well as identity theft statistics and information about searching credit bureau files. Visit today!

Zemsegu Pasaule — MASTERCARD


The Facts Towards Credit Bureaus

Are you currently under the effect that there’s some commitment amongst the credit agencies plus the government? Credit restoration specialist Jim Kemish offers some insights.

Perhaps not an agreeable provider

In a current weblog entry I published, “immense legislation has been enacted to safeguard you against the influence of the credit bureau’s inaccuracies. The proper you need to obtain copies of three credit reports free of charge on a yearly foundation is not an amiable public service by the credit reporting agencies. The bureaus happen needed to supply this service among the precautionary measures within the Fair and Accurate Credit Transactions Act. Your credit report might have a major impact on your financial life. Give your credit the interest so it deserves and review your reports frequently.”

A Reader reacts

A reader reacted by asking, “I look over your credit agencies are managed by the Federal Trade Commission. Doesn’t this indicate a relationship utilizing the government?” Under is my response along with some extra applying for grants the topic.

The Credit Bureaus aren’t national Agencies

we responded that, “the connection between the credit agencies and federal government matches the relationship you have actually aided by the federal government. Because your activities are conscripted by law will not in anyway claim that you will be fundamentally a law abiding citizen (although I’m certain that you will be!). As many individuals live-in a consistent adversarial relationship aided by the federal government, therefore do many large businesses. The credit bureaus are constantly at chances utilizing the law. Because of the possible impact that credit reporting errors have on your own monetary life, we highly declare that you modify your viewpoint of this bureaus adequate to be really cautious regarding the content of your credit history.”

Purely For income

the regrettable main presumptions that people, just like the preceding reader, have actually inside their attitude to the credit bureaus is the fact that the bureaus possess some type of official standing. This can not be farther through the truth. They’ve been purely for revenue companies. Experian and Equifax are openly exchanged companies and list their incomes within the billions of dollars. Trans Union is a privately held business with revenues approximated in addition inside billions. The 3 credit agencies have maintained a consistently adversarial commitment because of the government and consumers throughout their histories.

An Adversarial partnership

An adversarial relationship using public just isn’t unusual for large businesses. All tasks tend to be selected for the purpose of producing profits. A brief history of lawsuits brought against the bureaus as time passes paint a definite photo. The office associated with Attorney General of Florida happens to be following activity against Experian regarding deceptive statements, deceptive marketing, a misleading domain name (, and failure to honor cancellations for their credit tracking solution supplied through this so-called no-cost credit history site.

A History of Conflict

the sort of behavior explained by the Office associated with the Attorney General of Florida is in keeping with countless fees contrary to the three bureaus. Inside 1970s Equifax ended up being charged with rewarding its staff members for obtaining negative info on customers. This fee, which lead to a consent decree, provides an appealing hint concerning the corporate culture.

Experian Gets an “F”

In 2006 a respected consumer supporter internet site ranked the client service provided by the 3 bureaus. The reviews were dismal including a grade of “F” fond of Experian, who had been sited for not even offering clients with an individual service telephone number. Credit restoration just isn’t from the concern record at credit bureaus!

Absolutely nothing changed

The above mentioned customer recommend web site has actually an ongoing post that claims, “Using The 2003 amendments towards the FCRA, and the introduction associated with the TRUTH Act, countless customers will dsicover the grade of their particular credit reports degrade further. TRUTH means Fair and Accurate Credit Transaction Act, but in truth it is just our government attempting to appease millions of consumer just who complain about the present credit rating industry. But they are just appeasing united states in title only…”

The Forces at the job

We have been helping our clients with credit fix since 1989 and thus have handled the 3 bureaus on a frequent basis. There are 2 major forces at work that shape the behavior of the credit agencies. The initial major force may be the must optimize and protect profits that may bring about decisions about working policy which are not within the most readily useful interest for the public. The 2nd power that conspires aided by the revenue motive could be the sheer almost all information the credit bureaus want to handle and keep maintaining. The end result has been widespread and severe mistakes on customer reports coupled with a horrible corporate bureaucratic weight to correcting the situation. So look at your credit history on a regular basis.

Copyright © 2007 James W. Kemish. All Content. All Rights Reserved.

Jim Kemish is the president and president of Power Mortgage, a Florida mortgage organization situated in Delray seashore, Florida. Jim is also the President of sky-blue Credit, a national credit fix business.

Best Cash Back Credit Cards for 2017 | BeatTheBush

I’ve optimized my cash back rewards like crazy and so let me show you what I do to get the most cash back from a combination of cards. This is an update from previous videos as the cash back credit card scene changes in dynamics all the time. This means I need to update the strategy from time to time.

Q4 Q1 Q2 Q3 Q4
Sears Gas Groceries Rest 10%
SallieMae Gas Groceries 5% Until 3/1/2017
USBank Cash+ Dept & Fast Food 5%, Rest 2% Dept & Fast Food 5%, Rest 2%
Freedom Dept Stores/Wholesale Clubs/Drugstores 5% Gas/Local Commuter(no Park/Tolls/Amtrak) 5% Grocery Stores (no Walmart Target) 5% coming coming
Discover It Amazon/Dept Stores/Sam’s Club 5% Gas/Ground Transport/Wholesale Clubs 5% coming coming coming
CitiDouble 2%
Ink Rest/Gas/Office Supply/Hardware Store/Home Imprv 3%
Citi TY Premier Gas/Travel/Hotel/Car Rental 3% Dining Entertainment 2% Others 1%
Amex Blue Cash Everyday Groceries 3%, Gas 2%, All 1%
———————- CHEAT SHEET END .

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