A presentation of the Did You Know Series Did you know…The Federal Trade Commission (FTC) has an abundance of free publications that you can order to help you with your credit? They offer publications on topics such as: How to Build a Better Credit Report, Understanding Your Credit Scores, How to Deal With Debt, Understanding … Read more
Did you know…adding your child or spouse as an authorized user on a credit card can help them establish credit? It should only be used as a stepping stone to help them establish their own credit, and should not be a long term solution. Once the authorized accounts have helped them establish new credit and … Read more
Did you know…Paying off a collection account does not normally have a positive effect on a credit score? On the contrary, it can actually have a negative effect. The reason being is that the bureaus will not back date the payment date. So that means when a collection is shown as paid off, it will … Read more
Did you know…One of the biggest factors in determining a credit score is balances on revolving debt? Optimally the bureaus want to see no more than 3 revolving debts with balances and those balances being below 30% of the high credit. They also want to see several other open revolving accounts with no balances. Having … Read more