Credit Cards, Cancellations, and FICO Scores
Sometimes, there are good reasons for closing a credit card account. You may have too many and want to simplify your life. Credit cards you never use are easier to lose track of. If one is lost or stolen, you’ll kick yourself for the frustration you could have spared yourself had you cancelled it. But before closing that account, familiarize yourself with the possible effects on your credit score. Your debt-to-available-credit ratio makes up 30 percent of your FICO score...Read More
BANKRUPTCY SCAMMERS
According to the National Association of Consumer Bankruptcy Attorneys (NACBA), a recent scam occurred in which con artists targeted people around the country who had filed for bankruptcy or who were just getting started in the process. As part of the ruse, the scammers used software to trick Caller ID systems into displaying caller info that appeared to be that of the consumer’s bankruptcy attorney. Victims of the scam would then be instructed to immediately wire money to satisfy a...Read More