article thumbnail

How to Remove Collection Accounts from Your Credit Reports

Credit Corp

FAQ Consider Hiring a Credit Repair Company How Collection Accounts Impact Your Credit Collection accounts have a significantly damaging impact on your credit score because they’re negative marks that indicate to lenders you may not pay your bills on time—or ever.

article thumbnail

What is Debt Consolidation and How Does it Work?

Better Credit Blog

These include transferring all your debt onto just one credit card as well as taking out a secured or unsecured personal loan—perhaps with the help of a professional debt consolidation company. Owing money to several creditors and remembering when the monthly payments are due for all of them can be overwhelming.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How a Car Loan Can Increase Your Credit

Credit Corp

Your New Car Loan Shows up on Your Credit Report. As with any new credit account that you get, your new car loan will show up on your credit report. Depending on the specific credit bureau or bureaus that your vehicle loan lender reports to, it will only show up on those credit reports.

Loans 98
article thumbnail

How to Check Your Credit Score Without Hurting It

Credit Corp

Checking your credit score will not hurt it. When you check your credit score, it is considered a “soft inquiry,” which means it does not negatively impact your score. Remember that while a few points may not seem like a lot, they could make a difference in whether or not you get approved for credit and what interest rate you receive.

article thumbnail

Do Existing Debts Impact Your Credit Score When You Move Abroad?

Credit Corp

Stringent data protection laws are another reason why credit organizations don’t share your credit report with credit bureaus outside the country. This gap in communication between two credit bureaus from different nations creates a barrier to transfer your credit score abroad.

Lender 94
article thumbnail

What Is a Soft Credit Check?

Credit Corp

Promotional soft credit checks. These are typically run by creditors who want to see if they can offer you potential products. For example, if you receive a mailing from a personal loan or credit card company stating you have been prequalified for potential credit, that company has probably run a soft check.

Lender 99
article thumbnail

4 Ways To Remove Collections From Your Credit Report

Better Credit Blog

The Fair Credit Reporting Act (FCRA) requires credit reporting agencies to show only accurate information about your credit history. If you can find inaccurate information, the credit bureau will have to fix the information. Have a Professional Remove Collections From Your Credit Report.