Finance Blog
Credit Trends: Does Age Factor into Your Credit Score?
Age may be just a number, but how does your age translate when it comes to your credit score? Here’s some good news: Age isn’t directly a part of credit score models. However, the life cycle of some accounts can be a factor—the calculation of your credit score may rely on how long you’ve held certain accounts and how long you’ve had credit open.
Here’s a refresher on a credit score’s components:
Payment history. Do you make your payments on time or are you late? If you’re late, how late are those payments? Are you paying in full or only making minimum payments? The answers to these questions will be reflected in your credit score. Amounts owed and available credit balances. Creditors look at how much installment and revolving debt you owe. They also want to know what percentage of your available credit balance you are using. Length of credit history. How long have your credit accounts been open? Which accounts have been closed and why? These answers will also be factored into your credit score. New credit accounts. Opening several new accounts can affect the length of your credit history and your available balances, and...
Credit Trends: Does Age Factor into Your Credit Score?
Written by Janet Dedrick on May 14, 2012
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Age may be just a number, but how does your age translate when it comes to your credit score? Here’s some good news: Age isn’t directly a part of credit score models. However, the life cycle of some accounts can be a factor—the calculation of…
Protect Your Family From Identity Theft
Written by Eve Becker on April 30, 2012
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Identity theft is one of the fastest-growing crimes in the United States, says the Identity Theft Resource Center, a non-profit organization that specializes in helping victims of identity theft. As complaints are on the rise, the Federal Trade Commission (FTC) has become more involved in…
Pay Off Debt with Your Tax Refund
Written by Ilyce Glink on April 25, 2012
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Have you received your tax refund yet? If you filed just under this year’s April 17 deadline, you’ll probably have to wait a few weeks. But if you took care of your taxes early, then your tax refund is probably already burning a hole in…
Child Identity Theft and Tax Fraud: What You Need to Know
Written by Eve Becker on April 18, 2012
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How can child identity theft involve tax fraud? Identity theft occurs when someone, without your permission, uses your or your child’s personal information such as name, Social Security number, or other identifier to commit fraud or other crimes. Identity theft, and child identity theft in…
Identity Thieves Use Children’s Information to Commit Tax Fraud
Written by Eve Becker on April 16, 2012
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It’s been a rough year for L. Katz. In April 2011, thieves broke into her apartment. They not only stole her jewelry but also the birth certificates, passports, and Social Security cards belonging to Katz and her two daughters, now ages 6 and 11. Katz…
Fighting Child Identity Theft with Education and Awareness
Written by Peter Schoenrock on April 12, 2012
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Years ago, parents were asked if they knew where their children were. Today, parents have a new concern: child identity theft. In 2011, more than 19,000 child identity theft complaints were reported to the Federal Trade Commission, compared with approximately 6,000 complaints in 2003. Children…
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