Seniors should freeze credit reports

Seniors should freeze credit reports
The 3 principal consumer reporting agencies for credit are Equifax, Experian and TransUnion. You have to contact all 3 agencies to place security freezes on your credit reports. The freezes stop new services or loans from being taken out in your name.

800 Number For Equifax Free Credit Report
Equifax Warns Consumers to Protect Personal Data During Fraud Prevention Month – Marketwire Equifax Canada March 5, 2013 – 08:30:00 AM Equifax Warns Consumers to Protect Personal Data During Fraud Prevention … national credit bureaus and …
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SubscriberWise Chief to CFPB and Consumers Everywhere: Each of Us has Profound Control over Our Credit Reports and FICO Scores

Massillon, OH (PRWEB) April 26, 2015

SubscriberWise®, a leading provider of analytics driven subscriber decision management technology and the largest issuing consumer reporting agency for the communications industry, announced today that the company president is offering new advice, credit suggestions, and decades’ insight to the CFPB and the nation’s credit consuming population.

“Conspiracy theorists and others love to perpetuate the notion that credit scores are mysterious, secretive, and impossible to understand or control,” argued David Howe, FICO professional, child identity theft expert, and SubscriberWise CEO. “They’re none of the above. Rather, they’re complex. Extremely complex, in fact. And they’re based, in large part, on highly refined mathematical models that rely on millions of consumer credit files for empirically derived, scientific outcomes: outcomes that are not only regulated, but that are retrospectively correlated to payment performance metrics that often span multiple decades.

“Undoubtedly, transparency and access to accurate information and education concerning credit scoring did not exist in the past. The lack of information certainly contributed to the hysteria, fear, and ignorance that grew out of the emerging technology,” continued Howe. “Sadly, much of the same continues to surround scoring models today. However, unchanged are the fundamental behaviors (i.e. paying bills on time and low credit card utilization) that generated high scores in the past. These same behaviors, they remain true and predictive today just as they did in the past.

“Fortunately inadequate information is no longer a reality or concern for consumers. Collectively we should bestow individual consumers, watchdog groups, regulators, and others our appreciation and gratitude for the vast and open information that is widely available today.

“Everything a consumer needs to obtain super-prime credit ratings – across every credit scoring model on the market – exists on a myriad of commercial sites; this same information can be found here,, on the taxpayer-owned Consumer Financial Protection Bureau’s website,” said Howe.

In addition to the well known guidelines – which together are sufficient for achieving and maintaining favorable credit – there are a number of other little-known suggestions for consumers who may have unexplained or significant scoring variations among different models and/or repositories. Following are many of the common-sense and well known guidelines for achieving and maintaining excellent credit:

Pay as agreed. Although life events, medical and economic hardships, and myriads of financial circumstances make this impossible for millions of consumers, paying bills on time is the single most important factor in the calculation of a credit score
Don’t get close to credit limits, particularly if you’re going to apply for new credit and a high score is essential to obtain the most favorable terms/approval. Fact: Howe generated simultaneous perfect FICO and Vantage scores across each repository with credit utilization below 5 percent of total available credit, among many other maximum scorecard indicators. It is proof that credit scores can be mastered without knowledge of advanced mathematics and without FICO’s proprietary credit scoring formula.
Apply for credit as needed. Fact: Howe’s most recent revolving credit card account was opened nearly one decade ago.

In addition to the above (particularly true for consumers who have scores that vary significantly), Howe provides these other important suggestions:

Compare credit reports. Determine, for example, if a tradeline (i.e. a ten year old revolving bankcard that’s been paid perfectly and includes a substantial line of credit) is reported to each of the national credit repositories: Equifax, Experian, and TransUnion. A missing tradeline that is not reported can have a significant negative impact on the calculation of a credit score. Fact: A colleague of Howe’s learned that his credit union failed to report his long and perfect-paid revolving credit card account to TransUnion. The net result was a significant loss of points because of the missing information. Once the account was finally reported, the score increased to a super-prime rating. Fact: Consistent credit data yields consistent credit scores:
Pay close attention to score reason factors contained on risk based pricing notices and credit score disclosure notices in particular. For example, a reason factor that indicates “too many accounts with balances” can mean 1 (one) too many. Fact: 1 (one) revolving balance with a small amount owed relative to the available credit is the best possible scenario for consumers with FICO scores above 760; this is also probable among every FICO scorecard. Fact: Reason factors are vague and do not always translate into the everyday human lexicon. Fact: A reason factor of “no recent bankcard or revolving balances reported” means that no balance is reported at the moment the score is generated. For example, it may not matter if a balance was reported as recent as yesterday…if it’s not reported when the score is generated today.
Charge a balance on one revolving credit card before applying for a mortgage (particularly true for consumers who have an American Express or other travel and entertainment charge card). Fact: FICO scores based on models used in mortgage underwriting are typically – perhaps always – not recent FICO models (i.e. FICO 8 or FICO 9). The older models treat Amex and T&E charge cards differently from the more recent models. Fact: A credit report that is scored and that also has no reported revolving balance with a favorable utilization ratio (< 6 percent is recommended) will result in a loss of points, even if the Amex or T&E account is reported with a balance. Fact: No bankcard balance reported will result in a loss of points for many – if not all – consumers. Fact: A credit card that contains an account number that starts with a 3 may be excluded from mortgage based FICO models regardless if the account is a credit card or a charge card (i.e. Bank of America branded Amex revolving credit cards).
Know your statement closing date and try to determine when the creditor reports the information to the repositories (generally once each month). Fact: This is tricky and it’s not always possible to know. It’s also not always consistent in terms of the date information is reported.

About SubscriberWise

SubscriberWise® launched as the first U.S. issuing consumer reporting agency exclusively for the cable industry in 2006. In 2009, SubscriberWise and TransUnion announced a joint marketing agreement for the benefit of America’s independent cable operators. Today SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative.

SubscriberWise contributions to the communications industry are today quantified in the tens of millions of dollars annually.

David Howe is founder and president of SubscriberWise. He is also a consultant and credit manager for MCTV. At MCTV, Howe manages the bad debt and equipment losses on annual sales in excess of $ 60 million. During his 18-year career at MCTV, Howe has reviewed more than 50,000 credit submissions. His interest in credit began in 1986 while a 17-year-old student in high school.

Howe is the only known individual – living or deceased – to have obtained simultaneous perfect FICO 850 scores across every national credit bureau. Howe has also obtained simultaneous perfect Vantage scores at Equifax, Experian, and TransUnion.

Howe has obtained FICO Professional Certification and is also the first and only citizen of the world to describe and report the details of the perfect FICO and Vantage scores to U.S. reporters.

Howe produced and published two videos on the subject of perfect credit: FICO 850 Credit Report Facts and FICO Scores: The Facts. The first general-purpose FICO scores were debuted a quarter century ago.

SubscriberWise is a U.S.A. federally registered trademark of the SubscriberWise Limited Liability Co.


SubscriberWise, 888-596-1119

American Consumer Credit Counseling Takes the Mystery away from Credit Reports

Boston, MA (PRWEB) March 06, 2015

Consumers can take much better control of their economic lives through getting a much better comprehension of their particular credit file and results during National Credit knowledge Month. United States Consumer Credit guidance – a non-profit credit guidance company that serves consumers all over the country – states lots of people don’t know the difference between a credit report and a credit score. And they don’t recognize all the means these resources can be used.

“Often times, people are unaware of the impact their credit report and rating might have,” said Steve Trumble, President and CEO of American credit Counseling ( “Not only can it impact your ability to have credit, however it may also influence your ability to get work or lease a flat.”

a credit file is reveal history of precisely what was done with credit, while a credit history is a mathematical level or representation of this information in one’s credit history. Credit ratings are employed by financial institutions, landlords, insurers, companies and others to assign a particular amount of risk to an individual’s ability to fulfill obligations.

Each person is eligible to one free credit file from all the three reporting companies, such as Experian, Equifax and Trans Union. This credit history should include a listing of every credit line and loan that one has already established, as well as the repayment record on those records. The report will even show information that is personal particularly previous and current details, employment history and personal safety quantity.

A lender’s point of view is dependent on a consumer’s credit score. If somebody has a positive credit score then they are thought to-be low-risk, however if one has a negative credit score chances are they have emerged as high-risk. If you have info on the credit file that doesn’t appear precise and adversely impacts the credit score, then it is crucial that you get in touch with the credit scoring companies to dispute the error.

Whenever calculating a credit history, the most frequent scoring system is named the FICO rating, where the credit score ranges from 300 to 850. According to this scoring system, the bigger the rating the reduced the danger. If a person has actually a lower FICO score, they could have a greater rate of interest which will lead to a higher monthly payment.

March is National Credit knowledge Month – an ideal time for you to get wise in terms of deciding your credit score. American credit guidance has provided the five factors in which credit rating is computed:

1)    repayment history (35%)- The prompt way a customer performed or would not repay your debt. This can include various types of credit accounts, late or missed payments, and public information and collection items.

2)    Amounts owed on credit reports (30%)- the full total dollar number of debt currently owed. For bank cards, this means the total amount owed across all accounts with regards to the sum total credit limit. When increased portion associated with the borrowing limit has already been used, this can indicate overextension and a better probability of future missed repayments. Keeping charge card balances really underneath the limits can really help this an element of the score.

3)    amount of credit history (15%)- the quantity of time the buyer features held credit records. This can include just how long ago your reports had been established. A longer history assists your credit rating.

4)    New credit (10%) – a well established credit history without way too many reports is very important. Starting several records in a short span can indicate better risk.

5)    kinds of credit (10%)- combine different sorts of credit including retail records, home loans, charge cards, etc.

To improve an error, United states Consumer Credit Counseling recommends consumers to file a dispute by contacting the credit rating agency. When a dispute is posted, it will take around thirty days the agency to analyze and respond.

ACCC provides no-cost credit counseling, bankruptcy counseling, and housing guidance to consumers nationwide needing economic literacy knowledge and money administration. To find out more, contact ACCC:

    For credit counseling, telephone call 800-769-3571
    For personal bankruptcy guidance, telephone call 866-826-6924
    For housing guidance, call 866-826-7180
    For all about monetary training workshops in brand new England, call 800-769-3571 x1980
    Or check us out on the web at

About American Credit Rating Guidance

American credit guidance (ACCC) is a nonprofit credit counseling 501(c)(3) business focused on empowering customers to attain economic management and debt settlement through training, credit guidance, and debt management solutions. To be able to assist consumers attain their particular aim of credit card debt relief, ACCC provides a variety of no-cost consumer individual finance resources on a number of subjects including budgeting, credit and financial obligation administration, student loans, homeownership, identity theft, senior lifestyle and your retirement. Consumers may use ACCC’s worksheets, videos, calculators, and web log articles to really make the best possible decisions with regards to their particular economic future. ACCC holds an A+ score aided by the bbb and it is a member of this Association of Independent credit rating Counseling Agencies. To learn more or to access free monetary education resources, log on to or see

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Today banks and credit institutions can lend to consumers confidently based on the information received from CIBIL on the consumer's past credit behavior as well as anticipate likelihood of default based on the CIBIL TransUnion Score. CIBIL has also …
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