Dear Creditnet: I’m currently in the market for a new TV and Best Buy is offering 0% financing for three years.
My question is when you open an account like this, how big of a hit does your FICO score usually take and how long will it take to rebound?
I could easily pay cash for the TV up front, but the “finance” person in me says it’s free money—why not take the terms? Read the rest of this entry »
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Author: Joshua Heckathorn, Date posted: July 28th, 2010
Category: Ask Creditnet Questions, Credit Cards, Credit Scores
There’s a lot of free credit scores floating around the Internet, but as I’ve written about in previous posts, none of them are actually credit scores that matter. Often advertised by the credit bureaus themselves, these scores may give you a rough estimate of where your true FICO scores stand, but that’s about the only purpose they should serve.
If you ever want to know your real FICO credit scores, the ones the vast majority of lenders rely upon when assessing your credit risk, the best option has always been to purchase them directly from myFico.com. And while this is still the case, many consumers will now have a way to get a peek at their FICO scores for FREE. Read the rest of this entry »
Author: Joshua Heckathorn, Date posted: July 22nd, 2010
Category: Credit Scores
Dear Creditnet: I currently have a Capital One No Hassle Visa credit card that expires in August 2010. This card has an annual fee, and I’m tired of paying it every year.
Do I have to cancel my card in order to apply for a different Capital One card with no annual fee? Read the rest of this entry »
Author: Joshua Heckathorn, Date posted: July 13th, 2010
Category: Ask Creditnet Questions
One of the most common questions we receive from readers is “what’s the best way to dispute errors on my credit report”?
Contrary to popular belief, disputing online through the credit bureaus’ websites isn’t the best way to get results or document your efforts. It may be the the fastest, but it’s certainly not the most effective route to take. Read the rest of this entry »
Author: Creditnet.com, Date posted: July 8th, 2010
Category: Credit Repair
Ever stopped by a convenience store to quickly buy a drink with your credit card only to have the cashier point to a tiny sign taped to the wall that says “Sorry—The Minimum Credit Card Purchase is $5″? How inconvenient is that? Read the rest of this entry »
Author: Joshua Heckathorn, Date posted: June 30th, 2010
Category: Credit Cards, Credit News
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