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While there's no universal minimum credit score to rent an apartment, landlords generally prefer applicants with a good credit score, which is at least 670. How to improve your credit score for rentingIf your credit score isn't stellar right now, don't worry. The average credit score of a Gen Z consumer is 680 compared to the average baby boomer's credit score of 745. Credit builder loans and rent reporting companies can help you add credit history to your credit report. Frequently asked questions about apartment credit score requirementsCan you rent an apartment if you do not have credit?

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☆ Credit expert: You have 'dozens and dozens' of credit scores, but they should all have one thing in common
▼ + stars: | 2024-09-10 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The idea that you only have one credit score isn't true. In fact, it's one of the biggest credit score myths people consistently fall for, says John Ulzheimer, a credit expert who formerly worked for FICO and Experian. "You literally have dozens and dozens and dozens of credit scores that are not all the same three-digit number," he tells CNBC Make It. Unfortunately, the difference in numbers can cause confusion or even mistrust if you're not aware that you have multiple credit scores, Ulzheimer says. "But really, they're not doing anything wrong, they're just pulling a completely different credit report."

Persons: John Ulzheimer, —, Ulzheimer, they're Organizations: FICO, CNBC

☆ Why parents may want to start locking a child's credit at a very young age
▼ + stars: | 2024-08-23 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

While locking their credit won't solve all cybersecurity issues related to stolen Social Security numbers, it's one extra layer of protection parents can implement. Parents can take these steps proactively even if there's nothing to suggest a minor's credit has been compromised such as unexpected credit card solicitations or bills received in the minor's name. It can take some time and effort to lock a child's credit, but the outlay is minimal compared with what can be a lengthy and emotional credit restoration process. Locking a child's credit won't protect against all of these, but it's a solid step in the right direction, financial professionals said. To check to see if their child has a credit report, parents can mail a letter with their request to each of the credit bureaus.

Persons: —, Kim Cole, Loretta Roney, It's, Cole, Bruce McClary, McClary Organizations: Social, Social Security, Navicore Solutions, InCharge, Federal Trade Commission, Administration, Foundation, Credit Counseling

Updating your name with the credit bureaus can prevent delays in credit applications and other credit reporting errors. Hinterhaus Productions/Getty ImagesTransgender and nonbinary people can report their legal name change to credit bureaus. One of the many steps in your legal transition is to report your legal name change to all three credit bureaus — Experian, Equifax, and TransUnion — so it'll appear on your credit report. How to report a name change with the credit bureausBefore you update your name with the credit bureaus, you first need to update your name on your driver's license, Social Security card, and utility bills first since credit bureaus ask for copies of those documents to verify your name change request. Box 4500Allen, TX 75013TransUnionUnlike the other two credit reporting bureaus, TransUnion requires you to change your legal name with every individual financial institution listed on their credit report first.

Persons: Hinterhaus, there's, —, TransUnion, Ryan Klippel, Here's, Klippel, folx, you'll, Experian Experian, Allen, it's Organizations: Social Security, Optas, Social, TransUnion, National Center for Transgender Equality, UC Berkeley, Google, Security Locations: myEquifax, Allen , TX, Chester , PA, California

Sign up for a credit monitoring service such as Credit Karma to keep tabs on your credit report. If you want the best interest rates on a credit card, mortgage, or personal line of credit, you'll want to ensure your credit report accurately reflects your credit history. You can dispute information on your credit report with any of the three major credit bureaus: Equifax, Experian, and TransUnion. Dispute credit reports with Credit KarmaIn addition to your own vigilance in keeping tabs on your credit report throughout the year, it helps to sign up for credit monitoring services to keep you updated between credit reports. If your credit dispute is rejected, you can provide additional evidence to the credit bureau or contact the creditor directly.

Persons: Karma, you'll, Margaret Poe, Poe, you've, Allen Organizations: Equifax, Consumer Financial, Credit Karma, Experian, Consumer Locations: Atlanta , Georgia, Allen , Texas, Chester , Pennsylvania, unresponsiveness

☆ Stocks making the biggest moves midday: Gilead Sciences, Accenture, Trump Media, AMD and more
▼ + stars: | 2024-06-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Trump Media & Technology Group — After former President Donald Trump's company said on Tuesday that the Securities and Exchange Commission had declared effective Trump Media's registration of additional shares, the stock dropped 13.5%. Super Micro Computer — Shares jumped 5% after Elon Musk said the company will help his AI firm, xAI, build a supercomputer . Winnebago reported $1.13 in adjusted earnings per share on $786 million of revenue for its fiscal third quarter. Commercial Metals — Shares gained 5.6% after the company reported a revenue beat for its third quarter. Analysts surveyed by LSEG had forecasted $1.80 earnings per share and $1.65 billion in revenue.

Persons: lenacapavir, Donald Trump's, Elon Musk, Piper Sandler, Winnebago, FactSet, Heather Balsky, Jabil, LSEG, —, Alex Harring, Hakyung Kim, Sarah Min, Jesse Pound, Lisa Han Organizations: Accenture, Gilead Sciences, Trump Media & Technology, Securities and Exchange Commission, Trump, Darden, Garden, LongHorn, LSEG . Revenue, Winnebago Industries, Bank of America, Jazz Pharmaceuticals, Metals, Revenue, KB

☆ Medical Debt Shows Up Less Often on Credit Reports
▼ + stars: | 2024-05-03 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Rohit Chopra, the bureau’s director, said in a statement that “further reforms” were needed to scour medical debt from credit histories. The bureau is considering a rule to ban medical debt from consumer credit files. The bureau estimated in a 2022 report that well over half the debt that appeared on credit reports as being in collection was medical debt. People can incur medical bills unexpectedly, and many think that their health insurance will cover the costs. And the consumer bureau previously found that medical collection debt reported to the credit bureaus was “plagued by inaccuracies.”

Persons: —, TransUnion —, Rohit Chopra Organizations: Consumer Financial

The role of credit bureaus in credit card applicationsCredit bureaus play a pivotal role in the credit card application process. How credit bureau information influences approval decisionsCredit bureau information plays a pivotal role when financial institutions make credit decisions. Credit bureau reporting frequently asked questionsDo all banks use the same credit bureau for credit card applications? Even though the three credit bureaus score credit slightly differently, improving your credit habits will typically raise your score across the board. Our guide to the best credit cards for pre-approval can help you identify which credit cards you're most likely to be approved for.

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AT&T has also begun notifying customers whose personal information was compromised. Photos You Should See View All 60 ImagesFull names, email addresses, mailing address, phone numbers, dates of birth and AT&T account numbers may have also been compromised. HAS AT&T SEEN DATA BREACHES LIKE THIS BEFORE? AT&T has seen several data breaches that range in size and impact over the years. Avoiding data breaches entirely can be tricky in our ever-digitized world, but consumers can take some steps to help protect themselves going forward.

Persons: “, Troy Hunt, we’ve, ”, Hunt, You'll, Matt O'Brien Organizations: Associated Press, AP, Federal Trade Commission Locations: Dallas, Australia, Providence , Rhode Island

While there's no universal minimum credit score to rent an apartment, landlords generally prefer applicants with a good credit score, which is at least 670. While your credit score will suffice for some landlords, under the Fair Credit Reporting Act, landlords are also allowed to view your credit reports. The average credit score of a Gen Z consumer is 680 compared to the average baby boomer's credit score of 745. Though these services won't directly help you build credit, keeping track of your credit score is a crucial part of the credit building process. Apartment credit score requirements frequently asked questionsCan you rent an apartment if you do not have credit?

Persons: —, TransUnion, Kendall Meade, Jay Zigmont, Will, Jamela Adam, Read Organizations: Fair, Childfree, Forbes, . News, Mint Intuit Locations: AnnualCreditReport.com, SoFi, Chevron

☆ What student loan borrowers should know about their credit as bills restart
▼ + stars: | 2024-01-21 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

D3sign | Moment | Getty ImagesFederal student loan bills resumed in the fall after a pause of more than three years. "Negative information shouldn't be reported during the 12-month on-ramp period, but positive information should be included," Rossman said. Still, check for errors on your credit reportStudent loan borrowers should regularly check their credit reports to make sure the information is accurate, Kantrowitz said. If your loan servicer makes an error, such as reporting your loan as delinquent during the on-ramp period, you'll want to bring it to their attention quickly, he said. In this case the creditor would be your student loan servicer, on behalf of the U.S. Department of Education.

Persons: Ted Rossman, Rossman, Kantrowitz, — Organizations: U.S . Department of Education Locations: Annualcreditreport.com

☆ Paying rent usually won't boost your credit score. Here's what renters need to know to make it count
▼ + stars: | 2024-01-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Luis Alvarez | Digitalvision | Getty ImagesWhile rent payments do not traditionally affect your credit, a growing number of so-called rent-reporting services are trying to change that. But these services don't all operate the same way, and some may have less value for renters. There are also services geared to landlords that offer rent reporting for tenants, including ClearNow, Esusu and PayYourRent. Landlords usually shoulder the cost of these programs, but there may be processing fees depending on how you make your rent payments. When rent payments are included in credit reports, consumers see an average increase of nearly 60 points to their credit score, according to a 2021 TransUnion report.

Persons: Luis Alvarez, —, Matt Schulz, Michael Sherman, Schulz Organizations: Digitalvision, Finance, Zillow, Zillow Group

Updating your name with the credit bureaus can prevent delays in credit applications and other credit reporting errors. Hinterhaus Productions/Getty ImagesTransgender and nonbinary people can report their legal name change to credit bureaus. One of the many steps in your legal transition is to report your legal name change to all three credit bureaus — Experian, Equifax, and TransUnion — so it'll appear on your credit report. Its also recommended that you change your name with each of your lenders before updating your name with the credit bureaus. Box 4500Allen, TX 75013TransUnionUnlike the other two credit reporting bureaus, TransUnion requires you to change your legal name with every individual financial institution listed on their credit report first.

Persons: Hinterhaus, —, there's, TransUnion, Ryan Klippel, Klippel, folx, you'll, Experian Experian, Allen, it's Organizations: Social Security, Service, Optas, Social, TransUnion, National Center for Transgender Equality, UC Berkeley, Google, Security Locations: myEquifax, Allen , TX, Chester , PA, California

☆ How to get free credit reports every week—not just once a year
▼ + stars: | 2023-10-18 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

You can now get free credit reports pretty much whenever you need one, not just once a year. Americans were already legally entitled to one free credit report per year from each of the three credit reporting agencies, the FTC says. However, in response to the Covid-19 pandemic, the three agencies announced in 2020 that free reports would be made available every week. To request your free weekly credit reports, go to AnnualCreditReport.com. Note that many major banks, credit card companies and credit monitoring services offer free credit scores, but those aren't the same thing as detailed credit report.

Persons: —, TransUnion — Organizations: Federal Trade Commission, FTC Locations: AnnualCreditReport.com

☆ 5 ways to reduce credit card debt ahead of the holiday shopping season
▼ + stars: | 2023-10-12 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +6 min

But it's also important to consider the rising cost of carrying credit card debt. Overall, credit card debt in the U.S. has reached a staggering record high of $1.03 trillion, according to the Federal Reserve Bank of New York. The average consumer carries about $6,000 in credit card debt — a 10-year high. While the free credit reports on annualcreditreport.com will not include your credit score, many credit card companies offer their customers a free look at their credit scores. Work with your card issuerIf you don't qualify for a 0% card or personal loan, contact your card issuer and ask for a lower credit card rate.

Persons: Bankrate, Ted Rossman, they're, it's, Matt Schulz, Louis, —, Schultz, Rod Griffin, Oleksandra, Griffin Organizations: Federal Reserve Bank of New, Federal Reserve Bank of St Locations: U.S, Federal Reserve Bank of New York, annualcreditreport.com

Sometimes, I've made my January mortgage payment in December to deduct the interest for that year. So heading into fall, I review my budget, income, and expenditures and target areas where I can cut back. Do an insurance reviewI check all insurance policies: homeowners insurance, renters insurance, car insurance (when I owned a car), and health. This is a great time to do a comprehensive insurance review. Bonus: Plan for an extra mortgage payment and charitable contributionsIf you can, plan to make your January mortgage payment in December.

Persons: I've, it's, TransUnion —, transpire, you'll Organizations: Service Locations: Wall, Silicon

A Social Security number (SSN) allows the government and other entities to track personal information like employment history, tax contributions, and Social Security benefits. Qualifying reasons for new social security numberThe SSA outlines legitimate reasons to request a new Social Security number. Drawbacks of changing your Social Security numberA Social Security number change doesn't erase your financial history. New Social Security number frequently asked questionsCan you get a new Social Security number if your identity is stolen? Knowingly maintaining two Social Security numbers can result in a Social Security fraud charge, which can result in a maximum of five years in prison.

Persons: Nilsa Henriquez, Henriquez, —, TransUnion, It's, you've Organizations: Social Security, Social, SSA, Social Security Administration, New Social

Americans can access free credit reports from the credit bureaus every week until the end of 2023. However, since April 2020, Americans have been allowed to check their credit reports for free once per week. A Consumer Reports survey found that 34% of consumers have found an error on at least one of their credit reports. Weekly credit reports frequently asked questions (FAQ)Will checking my credit report every week lower my credit score? Because consumers can request their credit reports every week, credit monitoring services aren't nearly as necessary as they were pre-pandemic.

Identity theft is often a crime of opportunity, so reducing risk goes a long way to protect against identity theft. How to reduce the risk of identity theftEva Velasquez, president of the Identity Theft Resource Center, says it's best to take multiple steps to secure your identity. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.8/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Aura's website Learn more On IDShield's website Learn more On IdentityForce's website1. While this doesn't necessarily prevent identity theft, it does mitigate any potential damages as a result of identity theft. You can report identity theft over the phone; however, you will not receive an identity theft report.

Since the start of the pandemic, Americans have been able to access free weekly credit reports. "Even when consumers are successful in having their complaint addressed, complaints call into question the underlying data contained in consumers' credit reports," the report read. Navigating the credit reporting system in the United States requires skill and often a good deal of patience. Democratic Rep. Maxine Waters of California, who chaired the panel at the time, said during the hearing that a public credit reporting agency "would be a major upgrade over today's broken, biased credit reporting system." Consumer advocates stress that not only should credit reports be easily accessible but that Americans should be able to scrutinize the information contained in credit reports.

☆ Here's what the Federal Reserve's 25 basis point interest rate hike means for your money
▼ + stars: | 2023-02-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +7 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. "Credit card interest rates are already as high as they've been in decades," said Matt Schulz, chief credit analyst at LendingTree. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card remains one of the best weapons Americans have in the battle against credit card debt," Schulz advised. The average interest rate for a 30-year fixed-rate mortgage is now around 6.4% — up almost 3 full percentage points from 3.55% a year ago.

Sign up for a credit monitoring service such as Credit Karma to keep tabs on updates to your credit report. Even the best identity theft companies and best credit monitoring services usually stop short of reporting errors on your credit report to the credit bureaus. Credit report dispute frequently asked questions (FAQ)How common are credit report errors? Experian credit freeze: To freeze your credit at Experian, you can visit Experian's online Freeze Center. TransUnion credit freeze: You can request a TransUnion credit freeze through their online portal.

☆ Here are some strategies that can help you dig out of holiday debt
▼ + stars: | 2023-01-04 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +5 min

A new LendingTree study found 35% of Americans amassed holiday debt in 2022. And 37% of those taking on holiday debt said it would take them at least five months to pay it off. If you want to pay off your holiday debt well before this summer, here are seven steps you need to take now. Using less than 30% of your available credit can help you maintain your score, credit experts say, while using less than 10% can actually help raise that number. "A 0% balance transfer card, if you have good enough credit to get one, is the best weapon against credit card debt," said Matt Schulz, chief credit analyst at LendingTree.

What credit scores don't captureLenders have always needed a way to determine a borrower's creditworthiness, and credit scores were a faster, easier way to do so. "If you look at credit scores from the perspective of other social actors, like policymakers or consumer advocates, why someone does or does not repay might start to have more bearing on how you make sense of credit scores," says Kiviat. The credit scoring system can also reflect and even worsen existing racial and wealth inequality. However, the credit scoring and reporting systems can function imperfectly, leaving many of the most marginalized without credit scores or with poor credit scores. Furthermore, policymakers have been considering how to make it easier for people to access their credit scores and resolve mistakes on their credit reports.

☆ Interest rate hikes have made financing a car pricier — especially if you have bad credit. How much you could pay
▼ + stars: | 2022-11-03 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Tim Boyle | Bloomberg | Getty ImagesYour credit score is one of several variables consideredThe higher your credit score, the lower the interest rate you may qualify for. watch nowThe difference in the interest rate available across different credit scores can be stark. For illustration: With a credit score in the 720-850 range, the average interest rate for a five-year, $45,000 car loan is just under 5.8%, according to FICO's latest data. Compare that to what someone whose credit score fell between 660 and 689 would pay. "This is the amount of credit you're using on your credit cards divided by your credit limits," Rossman said.

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