Credit Rating « free 3 credit report

February 21, 2012

What are the best ways to repair a poor credit rating?

Filed under: Credit Rating — Tags: best, credit, poor, Rating, repair, Ways — admin @ 12:59 am

Question by gds_ny2003: What are the best ways to repair a poor credit rating?
I’m looking to repair my poor credit rating. I owe 10k+ to various creditors. I’m married, we both have a decent paying jobs. My spouse has credit problems as well. Here are my concerns:1. Are there any immediate steps that I should take to get started?2. What is considered a “good” score to have when buying a house?3. What short term steps (6 months to 1 year period) can I take to bring my rating up to a “moderate” level?4. What long-term steps can I take to make for the future so that I do not fall back to where I am now?5. I know that some credit counselling services are predatory in nature, and actually put people into more trouble than they had to begin with. Are there any reputable credit counselling services out there (preferably non-profit)?

Best answer:

Answer by ednolb
Go check out books by Suze Orman- they will answer all your questions and stear you away from any scams. Be careful because you want a quick fix and there isn’t one.

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February 9, 2012

Does a bad credit report rating in one country affect the crediting in another country?

Filed under: Credit Rating — Tags: affect, another, country, credit, crediting, Rating, report — admin @ 9:05 am

by NASA on The Commons

Question by : Does a bad credit report rating in one country touching the crediting in another country?
If someone has let’s say a bad credit history in Canada, could this somehow affect the credit rating in the United States? Is there such a thing as an international credit report?

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January 31, 2012

What determines a credit rating and what is the best score?

Filed under: Credit Rating — Tags: best, credit, determines, Rating, Score — admin @ 1:00 am

Question by Paxis: What determines a credit rating and what is the best score?
Also, where can I view my credit rating?

Best answer:

Answer by bdancer222
Your tallied is a complicated formula based on what shows on your credit account. You can get your free annual credit report from each of the three credit bureaus at AnnualCreditReport.com. Reports are free, scores are not.Creditors use FICO (scale 300 to 850) scores and it is a waste of money to buy any non-FICO score. The only set consumers can get real FICO hit is MyFico.com. Monitoring servcies use Fakko scores and even the three ascribe bureaus now sell consumers non-FICO scores which are a different scale and formula.CreditKarma.com offers a loosed score estimator based on your TransUnion credit report. It is not FICO but within 50 points or so. Good enough if you are just curious.By the way, if you have never had a credit card or loan, you have no credit history and your score would be .

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January 24, 2012

Q&A: Will it hurt my credit rating if the company cancelled card due to non use?

Filed under: Credit Rating — Tags: cancelled, Card, company, credit, hurt, Rating — admin @ 1:01 am

Question by Heidi 4: Will it hurt my credit rating if the company cancelled card due to non use?
I have a Capital One credit card which I havn’t used for over two years. I got a letter from them today that they are going to cancel my credit with them because I have not used my card.My credit rating is ‘excellent’ and don’t want this as a negative on my rating.

Best answer:

Answer by pappy12a
If you’re not going to use it just cancel it ,you can always get a new one later if you want

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January 14, 2012

Greece given world’s lowest credit rating

Filed under: Credit Rating — Tags: credit, given, Greece, lowest, Rating, world's — admin @ 5:01 pm

Standard & Poor’s has cut Greece’s credit rating by three notches to CCC, the lowest rating of any sovereign nation in the world, as European finance ministers prepare to discuss a new aid package for the country. The agency said it believed that Greece’s recession “could well persist into 2012 and thus may further erode internal political support for the revised EU/IMF programme”. Greece responded by accusing Standard & Poor’s of ignoring reform efforts in Athens and European Union talks on debt aid. Al Jazeera’s Paul Brennan and Alan Fisher report from Athens
Video Rating: 3 / 5

The United States’ prized top AAA credit rating has been cut for the first time ever. Standard & Poor’s has dropped America’s ranking to AA+.The downgrade came too late to hit Europe’s stock markets – which have already taken a hammering this week – being battered by the Eurozone and America’s debt difficulties. RT’s Daniel Bushell is monitoring the fallout in Brussels. RT on Twitter: twitter.com RT on Facebook: www.facebook.com
Video Rating: 4 / 5

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December 31, 2011

Logistic distribution maps credit score to probability of default (PD)

Filed under: Credit Rating — Tags: credit, default, distribution, Logistic, maps, Probability, Score — admin @ 5:02 pm

The logistic function can be used to transform a credit score into a probability of default (PD). The advantages of the logistic are (i) it easy to calculate and (ii) as a cumulative distribution function (CDF) the output is, appropriately, a probability between and 1.. In this video, I show two approaches to the exponent, which itself is the negative of a product of vectors (-b*x). First, the two-factor linear probability model that produces a “credit score;” the credit score is then transformed into a PD. Second, an illustrated usage which starts with “internal credit ratings” from to 100, with 100 representing perfect credit quality; in this case, the internal credit rating is adjusted to a scale usable to the logistic, then the logistic function is again used to compute a PD. The spreadsheet is available on our website!

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December 24, 2011

Credit Rating: Q&A with Martin Lewis

Filed under: Credit Rating — Tags: credit, Lewis, Martin, Rating — admin @ 5:00 pm

Video Rating: 5 / 5

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December 20, 2011

What does someones credit rating or score have to be to qualify for a car loan without the need of a cosigner?

Filed under: Credit Rating — Tags: cosigner, credit, loan, Need, qualify, Rating, Score, someones, without — admin @ 1:04 am

by Smithsonian Institution

Question by .: What does someones credit rating or score have to be to qualify for a car loan without the need of a cosigner?
What is the lowest possible credit rating/score have to be to qualify for an auto loan without the need for a co-signer?

Best answer:

Answer by Michael B
It can be really low, 550, or so, but the downpayment would have to be substantial, and your interest rate would be really high, making what you’re paying for the car substantially more than it is worth…

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December 17, 2011

What is the best way to quickly improve your credit rating?

Filed under: Credit Rating — Tags: best, credit, Improve, quickly, Rating — admin @ 5:05 pm

Question by shanem1c1: What is the best way to quickly improve your credit rating?
I have bad credit from being irresponsible and want to change this. My debt is not huge possibly only $ 4000. My wife has excellent credit. We are wanting to build a home within the next 5 years and we will have to use my income to get the loan but I am worried my low credit score is going to hurt us. I’m wondering if we take out some joint accounts if that will improve my rating (abd make payments on time). Any advice is greatly appreciated!

Best answer:

Answer by p0is0n0us_butterfly
Cancelling any extra credit cards you have can help. While it’s good to have credit, a lot of times too many credit accounted can be seen as too much potential debt you could have.

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December 3, 2011

Q & A: What is the best way to repair a bad credit?

Filed under: Credit Rating — Tags: best, credit, repair — admin @ 5:00 pm

Question Coola : What is the best way to repair a bad credit I discovered, loans and credit cards and I missed many payments on each of them and am overlimit on my overdraft and credit card. Apart from making payments on time how I can get a better credit rating? Will it only get better once I owe nothing, or if I start making regular payments on time will only improve it? How long does it take for her to begin to improve? I am in the UK therefore need info for here please. Thank you! Best answer: Answer by

goat
it really is not another way to pay them more time.

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