credit score

17 Stories

Woman Sues Credit Agencies: I'm Not Dead

St. Louis woman ran into a strange red-tape hassle

(Newser) - A 40-year-old St. Louis woman isn't dead, but she said she spent months trying to convince credit reporting agencies that she's alive. Alexandria Goree is suing Experian, TransUnion, and Equifax over the glitch, contending that it was difficult to get loans or a new home, reports the St.... More »

Medical Debt Gets a Break in Credit-Report Overhaul

Big 3 agencies agree to revamp system to better address errors, medical bills

(Newser) - Good news for consumers who've had to play the waiting game to pay off medical debt: The three largest credit-reporting agencies in the US are working together to overhaul their systems to take better care of customer issues and the way medical debt is handled, Reuters reports. In a... More »

Why Your Credit Score Might Be Going Up

Change in way they're calculated will be more forgiving of medical debt

(Newser) - A modification to how one of the most common credit scores is calculated will mean better credit ratings for many Americans, reports the Wall Street Journal . Fair Isaac Corp. said yesterday that it won't place as much emphasis on medical debt when calculating consumers' FICO scores and will turn... More »

A Third of US Is on Debt Collectors' Books

Average amount owed: $5K

(Newser) - More than a third of Americans with credit scores have debt "in collections"—meaning one in three of us has been reported to collection agencies, a study finds. That's a total of 77 million people whose non-mortgage debt is significantly overdue, the Urban Institute notes. The study... More »

Study: 1 in 5 Had Error in Their Credit Reports

But few of the errors would change prices consumers pay

(Newser) - One in five consumers had an error in a credit report issued by a major agency, according to a government study released today. The Federal Trade Commission study also said that 5% of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto... More »

Hey, Baby: What's Your Credit Score?

Financial history becoming a bigger factor in dating decisions

(Newser) - Forget about your sign, the new hot first date question is, "What's your credit score?" As the New York Times reports, more and more daters are getting questions about their financial history, and in some cases, a weak credit score (under 660) could yank some of those fish... More »

1 in 4 Americans a Credit Risk

Credit scores sink to new lows

(Newser) - Thanks to the Great Recession, the credit scores of millions more Americans have sunk to new lows. New figures show that an astounding 1 in 4 households are now in the lowest credit category, boosting the number of those considered poor lending risks to 43 million. Even more consumers are... More »

MJ's Credit Score: Pretty Crappy

Plus: DNA tests and sperm samples and paternity questions, oh my!

(Newser) - If Michael Jackson hadn’t been the King of Pop, he probably would have had trouble getting a loan. His average credit score was a “very low” 563.67, TMZ reports—the average Californian’s is 672. Collections and delinquent accounts contributed to the score, and Barneys even shut... More »

Ben Stein Bitches About Getting Fired by the Times

(Newser) - Ben Stein is miffed about his summary expulsion from the New York Times’ Sunday business section, and he explains why in a lengthy piece for the American Spectator. Booted over a TV commercial he did for an online credit reporting service—not his first commercial, and not a subject he... More »

Times Cans Stein Over Credit Report Ads

(Newser) - Ben Stein has been booted from his job as a New York Times columnist for shilling for an online credit report service, Gawker reports. Stein touts the value of FreeScore.com in television commercials, but the Times’ ethics policy states “it is an inherent conflict for a journalist to... More »

Credit Checks Trap Jobless in Financial Spiral

(Newser) - For many unemployed Americans, a new trend is keeping the prospect of a new job out of reach: detailed credit checks of prospective employees. Once used mostly for government positions, cheap credit checks are now routine at private employers seeking to cull huge applicant pools. Businesses say they're just... More »

Credit Scores Plunge as Consumers Twist in Wind

Average drops 6 points, likely to fall further

(Newser) - Consumers are caught in the credit crunch, and their scores are starting to show it, USA Today reports. The average TransUnion credit score fell 6 points between the third quarter of 2008 and the first of 2009, and the group’s financial services director expects it to fall even more... More »

States Seek to Restrict Employer Credit Checks

Lawmakers want employers to prove credit reports are necessary

(Newser) - Several states and Obama administration officials are seeking restrictions on employers that unfairly screen out job applicants using credit checks, USA Today reports. Spiking unemployment and mortgage foreclosures brought on by the financial crisis have hurt many, and lawmakers say trustworthy people are being shut out of good jobs. Some... More »

Experian Cuts Access to Credit Scores

Consumers are about to know 33% less about their credit rating

(Newser) - Knowing their credit rating will become one-third harder for consumers as of tomorrow, USA Today reports. Experian, one of the three major companies that calculates credit scores, has canceled its deal with the company that provides the info to consumers, meaning millions will lose access to Experian's version of the... More »

New Credit Scores in Play Today

Fair Isaac Corp. hopes new scores will better predict consumer defaults

(Newser) - New credit scores intended to make identifying bad risks easier make their debut today, with TransUnion taking the lead in offering “FICO 08” metrics, reports the Wall Street Journal. The new formula is more forgiving of one-time lapses than its predecessors, but popularizing it may take years, according to... More »

Lawsuit Gives Consumers Free Look at Credit Scores

At $10B, may be largest settlement in history

(Newser) - More than 160 million consumers will be treated to a free look at their credit score, thanks to a class-action settlement against TransUnion Corp., the LA Times reports. Everyone who had any kind of loan account between 1987 and yesterday is entitled to 6 months of free credit reporting; at... More »

7 Ways to Raise Your Credit Score

Simple tips to boost that murky rating

(Newser) - Credit scores are key if you're getting a new cell phone, new home, new car—even a new job. The Today Show offers 7 simple steps to give your score a boost:
  1. Fix errors on your reports: A mistake on one report can sink a score.
  2. Be timely: Payment history
... More »

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