As we’ve said before, these are not usual times.  While the credit scoring formula remains pretty much the same, based on five distinct components, the financial industry has changed drastically.  Therefore, credit building information is subject to the whims of the credit card companies and their reactions to the current financial market and to the [...]

Here is a question that resurfaces at least twice a year:
I should have a credit score of over 800 for the best rates, right?
Well, not necessarily.  FICO scores range from 300 to 850; most lenders have a minimum score required for loan or credit card approval, typically in the mid 600s to lower 700s right now.
Yes, it [...]

We recently had a question from someone considering a short sale for their house.   This person is not eligible for a loan modification and their lender recommended a short sale.  When they put the house on the market, they are considering making just partial payments while they try to sell it.
The question is: DOES MAKING A [...]

Last week, Federal Reserve Chairman Ben Bernanke revealed that he was the victim of identity theft.   Yes, it really can happen to anyone.  Even the head of an organization that provides consumer information about identity theft prevention. 
Mrs. Bernanke had her purse stolen while she was at a D.C. Starbucks.  It had personal identification, four credit cards [...]