Your Facebook profile can hurt your credit score – Is it true?

FICO has not yet started to collect data from Social Media to calculate your credit score. However, this doesn’t mean that it won’t do it in the future. So, it’s always better to have a clean social media profile in order to have a good score.

Check out the article: http://finance.yahoo.com/news/facebook-profile-really-hurt-credit-154900670.html

Categories: Miscellaneous

Video – How to make wise investment decisions

Investments – One of the most important decisions you have to make in order to make your money grow and secure a good financial future. You need to invest wisely so that you get a good ROI (Return on Investment). You can check this video to clear your misconceptions regarding investment and how to invest wisely.

Categories: Finance

Foods that can make you happy! Sounds interesting!

Really liked this article. Let’s all be happy!

How many of us know that certain foods can uplift your mood? Yes, we all have tried or at least know that eating chocolate can make you happy. However, every time you don’t have to count your calorie while trying to be happy. There are also some healthier options to uplift your mood. For spice lovers – you can try chili peppers or fish lovers can try salmon. You can read this article to find out your most preferable food to be happy.

Categories: Miscellaneous

Monitor credit reports and dispute inaccurate items to have good score

In my previous blog posts, I have discussed regarding the factors that influence your credit score and what factors don’t affect your credit score. As told, today I thought of discussing regarding monitoring your credit reports and dispute inaccurate items – one of the essential things to have a good credit score.

Here’s a brief overview of how to do that.

First of all, you should order your credit reports from the 3 major credit bureaus, namely, Experian, Equifax and Transunion. You can order a copy absolutely free of cost at least once a year. However, you can also get free copies if your loan request has been denied or you’ve been a victim of identity theft.

Now, after you’ve ordered your credit reports, you should go through it carefully. Look for the following things in your credit report:

  • Accounts that are not yours
  • Late payments marked when you’ve paid on time
  • Closed accounts mentioned as open
  • Incorrect SSN (Social Security Number)
  • Inaccurate employment details
  • Incomplete/wrong name, address, date of birth and phone number
  • Along with this, you should also look for:

    Bankruptcies (if any) reported for more than 7 or 10 years in case of Chapter 7 and Chapter 10 respectively
    Lawsuits and judgments which are more than 7 years old

    If you spot any of the above-mentioned things, then you should dispute them by following these steps:

    • Mark the errors/inaccuracies in the credit reports
    • Fill out the form, provided by the bureau(s)
    • Attach the specific credit report copy
    • Mention the reason of inaccuracy
    • Provide enough documentation to support your dispute
    • Inform the creditors about the items you’ve disputed
    • Send letters through certified mail with return receipt requests

    So, your responsibility doesn’t end just by making your payments on time. Your responsibility is much beyond that. Ensure that your credit report is error-free. This will help you have a good score and enjoy a good lifestyle.

    Categories: Finance