Credit Score

To close or not to close…

Posted June 21, 2017 Author: Dan Beck

I often get asked if it would be OK to close a credit card account, the easy answer is no. But also, I understand that everyone has unique situations and if you find yourself with a card that you either need to close or want to close there are a few precautions that you can …Keep reading

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Changes are coming but what does it m...

Posted April 19, 2017 Author: Dan Beck

Recent changes to credit reporting have been announced and they will start taking place this July. The Change- TransUnion, Experian and Equifax will no longer include information about tax liens and civil judgments on a consumer’s credit report if the data doesn’t include the person’s name, address, Social Security number and date of birth. The …Keep reading

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Re-aging of debt…what is it and...

Posted March 8, 2017 Author: Dan Beck

The credit industry is filled with all kinds of strange terms, one of those terms is “re-aging” and if you have any collection accounts on your credit report you need to understand what this word means. Re-Aging defined Collection accounts can and will hurt your credit but they are not allowed to hurt you forever. …Keep reading

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5 quick tips to improve your credit s...

Posted February 16, 2017 Author: Dan Beck

In discussing credit with people daily I hear all kinds of misconceptions when it comes to what to do or what not do with credit. The part that is most concerning to me is all these tips are not things people are just making up, but things that people have told them would help. While …Keep reading

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Help your kids, and maybe yourself!

Posted May 11, 2016 Author: Dan Beck

Recent studies have shown that barely half of today’s college students have a credit card compared to nearly 90% that say they have and use a debit card. While this sounds like a good trend there are some troubling facts associated with it. I agree that debt cards are better for most college students than …Keep reading

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Here we go AGAIN!

Posted October 7, 2014 Author: Dan Beck

Maxine Waters (D-CA) has introduced a bill in the House called the Fair Credit Reporting Improvement Act of 2014. Ever since this potential bill has been leaked by the press I have had several people asking me for my opinion on it. If the bill were to be passed, here are a few of the …Keep reading

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Big changes are coming…or are they?

Posted August 13, 2014 Author: Dan Beck

Last week FICO announced some big changes that have been making headlines; I have included parts of the press release below so you can read about those changes. August 7, 2014—FICO (NYSE:FICO), “a leading predictive analytics and decision management software company, announced today that the new FICO® Score 9 introduces a more nuanced way …Keep reading

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To close or not to close…that is th...

Posted April 16, 2014 Author: Dan Beck

Many people struggle with the idea of if they should close a credit card or not after they pay it off. There are many reasons as to why people think this is a smart thing to do. Some get the advice from experts of the past that used to preach this philosophy as if they …Keep reading

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How could I be declined?

Posted January 16, 2014 Author: Dan Beck

The other day I got a call from a guy that said “I have a 745 credit score and I was just declined for a credit card.” He was very upset and frustrated about this and understandably so. As we went further with the conversation he told me the 745 he was referring to was …Keep reading

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If only I had a score

Posted December 12, 2013 Author: Dan Beck

Over the years of discussing credit I have realized much of my conversations have dealt with explaining to people different ways they can improve their credit score. While this is very important and a much needed conversation, especially since it is estimated that 70 million people have what is considered a subprime credit score, I …Keep reading

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