Credit Questions - FAQ List
This page is a list of the most frequently asked questions about credit reports and scores that we receive through this blog. If you don't find what you're looking for on this list, try using the search box to the right.
General Credit Questions
- How do I start building a credit history for the first time?
- What's the best way to establish credit for myself?
- What is a credit rating and how do I improve mine if it's bad?
- As a consumer, what should I know about credit?
Credit Report Questions
- What is a consumer credit reporting agency and what do they do? Also see: Part 2
- How do I get a totally free credit report with no strings attached?
- How does the free yearly report thing work? How do I get access to it?
- How do I read and decipher the information in my reports?
- Can two different collection agencies submit the same item more than once?
- Where can I go to buy a cheap credit report online?
- What does three credit reporting mean?
- How do I obtain a free copy of my reports online?
- Which website do I use to request my annual government credit report?
- Does the free credit report include all of the information I need?
- Why don't all three of the reporting agencies agree?
Credit Score Questions
- Is a credit rating the same thing as a score? If not, what's the difference?
- Is 700 a good credit score in the current economy, as far as mortgage qualification goes?
- What is a good FICO score these days, given the state of the economy?
- How will missed car payments affect my score?
- Do you have a FICO scoring chart that shows important factors?
- Do unpaid hospital bills affect credit scores in a bad way?
- How does a debt write-off / charge-off affect my score?
- Will paying off my bills help me increase my score? Also see: Part 2
Credit Problems and How to Fix Them (bad scores, disputes, etc.)
- How do I clear up a bad credit history so that I can get a mortgage loan?
- How long does bad credit last on your file?
- How can I raise my FICO score after filing Chapter 7 bankruptcy?
- Same question as above, but for Chapter 13 bankruptcy
- What can I do to repair my credit after filing for bankruptcy?
- How long does it take to improve a score significantly?
- My credit is good but my spouse's is bad. Can we get a mortgage loan?
- How soon will my score increase after paying off my debt?
- What's the fastest way to raise my score before buying a home?
- Do I need to write a letter to dispute errors on my credit report?
- Can I remove unpaid medical bills from my credit before 7 years is up?
- How do I dispute medical bills that are still on my report after 7 years?
- Can I dispute a duplicate collection item that's on my report?
- How do I fix my score as quickly as possible?
- Are there home loans for people with poor credit these days?
- With a score of 505 and negative entries, what should I do to improve things?
- How do I clean up my credit report history?
Credit Card Questions
- New credit card regulations were approved in December of 2008
- Does the federal government have credit card laws for consumer protection?
- Why are the card companies lowering credit limits in 2008?
- Why are they changing my due dates all of a sudden?
- Why did the interest rate on my card suddenly go up?
- How does a no-limit credit card affect my FICO score?
- Can a business credit card affect my personal score? If so, how?
- Can a card company take my house if I fail to make payments?
- Why do the card companies seem to target college students so aggresively?
- How can I negotiate with my card issuer for a lower rate?
- Is there a way I can improve my credit without using cards at all?
Debt Management Questions
Brandon Cornett is a consumer advocate and publisher of the Home Buying Institute. He can be