Tag Archives: creditcheck

Why Should I Check My Credit Score?

A credit score is something important that can factor into several decisions. Whether you are trying to secure a loan, apply for new housing, or a new job, a credit background check could be completed to see if you are eligible. A poor credit score can make it difficult to secure these important items, and your credit score may not be an exact reflection of your credit history. Mistakes on credit reports are quite common. You can get a free copy of your credit report from the three major credit bureaus once a year. How Is Credit Score Calculated? Payment history, amount of credit owed, length of credit history, new credit, and type of credit used.  Bankruptcy and late payments are included in payment history scores. Different factors have varying degrees of weight in the overall score. What Are Some Common Reporting Errors? False identities: Credit agencies have been found…
Read More »

Posted in Bankruptcy | Tagged | Leave a comment

The 3 Best Ways to Avoid Bad Credit

How do I build good credit? This is a question often asked and often answered. Instead of pursuing that route, we’re going to look at how to build good credit through its opposite: how to avoid bad credit. How to Avoid Bad Credit Don’t pay your bills late – The single most important factor in avoiding bad credit is to avoid paying bills late. Your payment history constitutes a large amount of your credit score. A history of paying your bills late reflects that you are unreliable at paying back borrowed money. Don’t use too much of your available credit – A high utilization of your available credit gives the appearance that you cannot control your spending habits. Say you have a $1,000 credit limit and you’ve used $500. This would mean you are 50 percent “utilized.” If you are continually spending close to your credit limit, you look risky…
Read More »

Posted in Bankruptcy | Tagged | Leave a comment

New Law Set to Ban Credit Checks During Hiring

The New York City Council recently passed a bill that would ban the use of credit checks during hiring. The bill, which was approved by a 47 to 3 vote, is set to drastically change the way people are hired. City council members who voted in favor of the bill say that one of the most important changes will be that the practice, which was disproportionately discriminatory towards blacks and Hispanics, will allow more people to get jobs they deserve. Supporters Praise the Change Labor unions, support groups and council members who supported this legislation will be especially elated by its approval, because of similar bills being rejected in past years. This bill will help to end a form of discrimination that has been improperly valuating potential employees since the 90s, when the credit bureaus found a new market in hiring managers. For years now, credit checks have been used…
Read More »

Posted in Employment | Tagged | Leave a comment