At some point, you may discover a discrepancy on your credit report. You can contact a number of parties to attempt to resolve the matter and get your report updated. Contact the creditor It’s best to contact the creditor first since they provide updates to the bureaus. If the…
According to the Credit CARD Act, your due date must be on the same day each month (for instance, the 7th of each month). In some rare cases, a card issuer may choose to change the payment due date because of business reasons. It’s quite common for issuers to…
If a credit card issuer seeks to reduce its risk with a cardholder, the issuer might opt to “balance chase” the customer by lowering the cardholder’s credit limit as the balance is paid down. Impacts of balance chasing If the cardholder was relying on the lost credit line for…
When you check your credit, it’s important to not just obtain a credit report from one bureau. There are three major credit bureaus: Experian, Transunion, and Equifax. Your reports at each bureau may not always have the same information, typically due to inaccurate data or the timing of the bureaus’…
Your credit score is just one factor that lenders use when deciding if, or how much, to lend to you. There are various loan types, which have different minimum scores, as well. Lenders also have their own thresholds for lending. As an example, while you may be approved by…