Credit Rehab

Are Credit Card Companies Raising Interest Rates?

By Jeanette Ponder

In 2002, credit card companies made $50 billion in profits from finance charges and interest rates on consumers' revolving credit debt. With many banks making the bulk of their profits from interest, it's no wonder that companies are now looking to increase profitability in a time of great financial upheaval. Credit card companies charge a percentage, called an interest rate, for the...

How Do I Boost My Credit Score?

By Phyllis Benson

A credit score is a rating that helps predict if a person will pay debts and credit payments on time. The credit score is based on information from a credit report. The credit report shows consumer financial history, how much is owed, the type of credit activity and other factors. Credit scores determine whether or not you can get credit and how much you will pay for loans or credit. If you have...

What Affects Someone's Credit Rating?

By Casey Lognion

A credit score is a way for potential creditors to judge a person's creditworthiness. Generally, a good credit score is considered to be over a 700 on a scale of 350 to 850. Fair is usually from a 600 to 700, poor is 500 to 600 and bad is anything under 500. But, getting a good credit score takes more than just paying your bills on time. The type of credit you have, the amount of available...

How Do Credit Scores Work?

By R. Lindley

Whenever you apply for a mortgage, a vehicle loan or a credit card, the lender pulls your credit report to determine whether or not you are a good risk. Your credit report consists of all of the credit accounts you have, including a detailed history of the accounts. Your payment history makes up 35 percent of your credit score, with your debt-to-credit ratio accounting for 30 percent. The other...