by Moe Bedard
Canceling a credit card may actually lower your credit score because the company that calculates credit scores takes into account the ratio of your total credit card debt over the total available credit that is given to you. This value is known as the credit utilization ratio and the higher it is, the lower your [...]
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by Moe Bedard
Jasmine Bendon of Ventura says her FICO scores dropped from the mid-700s to the low-600s after her lender put her on a trial modification and reported it as a partial payment. On the plus side, the trial modification has cut her monthly payment by $1,300.
New reporting plan
Starting today, lenders have a new, more benign way [...]
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