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Our most current tip is titled: Phone Numbers and Web Sites that YOU should know
April was Financial Literacy Month, so Data Facts has compiled a list of very important numbers and websites for consumers... read more

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Archived Newsletters

4 Myths about Credit
Myth #1: Your credit accounts need to be in your name ONLY to strengthen your credit history... You can build credit history with your parents' help if they are willing to share a credit card with you. Another option is to add you as an authorized user onto their accounts... read more

5 C's of Credit when Applying for a Loan
When you apply for a loan, the lender will evaluate your request in order to determine whether or not it is a good decision to lend you and your business money. A common evaluation framework is the Five C's of Credit: capacity, capital, collateral, conditions and character... read more

7 Deadly Credit Score Sins
Credit scoring continues to be a confusing, and often misunderstood topic. There are many factors that can have a significant impact to your FICO score, but there are 7 major default factors that will undoubtedly lower your score. Understanding these 7 deadly sins and how they impact your score will help prepare you to make the best decisions, and help you navigate your way back towards a higher credit score... read more

Avoid the Downside of Credit Mismanagement
Learn how interest rate and grace period along with introductory rates, and penalties affect your credit score... read more

Credit & Identity Theft Prevention Tips for College Students
You've graduated from high school and are looking forward to attending college this fall. Entering college is your first big step into adulthood. Many students find themselves living on their own away from their parents for the first time, and this brings on many responsibilities, including financial obligations... read more

Credit Health Score
A credit score is a measurement to determine your credit worthiness, and we should all strive to keep ours as HIGH as possible. This means managing our payments, watching our credit card balances, and not frivolously applying for new credit... read more

Do Corporate Credit Cards Affect Your Score?
More and more small businesses are using corporate credit cards. It is a great way to keep track of expenditures, and many issue these cards to individuals within the company to cover expenses such as travel, marketing, etc. While this card shows your name on the front of the card, usually along with the business name, does that mean it is showing up on your credit report?... read more

Do's and Don'ts of Foreclosure
Facing a foreclosure, or potential foreclosure, is very frightening from both a financial and emotional perspective. However, it is more important than ever that you are aware of actions you should take – and shouldn't take – to avoid making the situation worse... read more

Experian to Include Residential Rental Payments on Credit Reports
As of December 2010, Experian is the first and only major bureau now incorporating positive rental data from its Rent Bureau Division into credit files. This opens a new avenue for the estimated 50 million under banked consumers... read more

Free Consumer Credit Scores
Starting July 21st, 2011 consumers will be able to get their credit score for FREE. So what can consumers expect to see in the new credit score disclosure?... read more

How Mortgage Delinquencies Hurt Credit Scores
The FICO credit score is a standard consumer credit risk analyzer in the financial industry, used by more than 90% of all major lenders. Although credit score calculation criteria {(i.e. payment history (35%), amounts owed (30%), length of credit history (15%), type of credit (10%), and new credit inquiries (10%)} is public knowledge, the exact formula is a tightly guarded secret. However, we now have a bit more insight into how FICO evaluates mortgage delinquencies... read more

How To Protect Yourself After a Data Breach
The recent Sony/Playstation security breach is believed to be the largest data breach in history with over 100 million people's personal information compromised. This breach included names, birthdates, gender, physical and e-mail addresses, logins, passwords, and usernames. Credit card information, purchase histories and other profile data stored on Network servers may also have been stolen by the hackers... read more

Identity Theft: The Newest Open Door to Thieves
ID theft continues to be a rampant and expensive crime in the U.S. Purse-snatching, dumpster diving, and mail stealing are all ways that criminals steal your identity... read more

Increase Your Credit Score – High Tech & Low Tech Ways
Protect your credit score! Whether you are a high tech Smartphone addict or barely use email, here are some everyday tips that you can put in place. These routine practices will boost your credit score to the top of the charts... read more

Military Members Now Get FREE FICO Credit Scores
In an effort that was announced March 2, 2011, all active duty service members and their spouses can now access their FICO scores for FREE... read more

Mortgage Triggering: Who is calling my customers?
Mortgage Triggering is a frustrating, pull-your-hair out phenomenon that rears its ugly head frequently during a refinance boom. If you are a mortgage lender and haven't experienced it yet, lucky you... read more

New Year's Resolution – Build a Better Credit Score
Whether you are one who sets New Year's resolutions each year or one who has never set a New Year's resolution, this year you can set one goal that is fully achievable – improving your credit score. Improving your credit score will help you in multiple ways in 2011 and beyond... read more

Pay off your credit card every month? Your credit report may still show a balance.
To all you consumers who pay your credit card balances in full every month; good for you! Not carrying a balance on a credit card is one of the best financial maneuvers you can make for yourself. This ensures that you won't rack up expensive finance charges, nor will you find yourself deep in credit card debt.

However, if you are using your credit cards, your credit report may still show a balance, even if you pay it in full... read more

Requesting Your Child's Credit Report
As you know, there are rules that keep young people from doing certain things until they reach a set age. Accessing credit reports is among them. These restrictions — whether they take the form of laws, guidelines or more informal rules — are in place to keep minors safe from potential identity theft... read more

Social Security Numbers: Times Are A Changin'
Social security numbers began being assigned in 1936 to track workers' earnings so that proper benefits could be paid. These 9 digit numbers were created from a specific formula. This year, that formula is changing... read more

The Pros and Cons of Prepaid Credit Cards
American Express made headlines recently with the announcement that it's rolling out its first prepaid card targeted to the general population (rather than teens). Prepaid credit cards are now the fastest growing segment of the plastic market. While the newer prepaid credit cards are expected to continue with the trend of much lower fees than those of the past, there are pros and cons to prepaid credit cards you should know about before you take the leap... read more

The Truth About Closing Credit Cards
If you have read anything about how to get and keep a high credit score, you have probably seen this advice: never close your credit cards. This advice is true and good. Sort of... read more

Things You Need to Know about Harp 2.0
Millions of homeowners are underwater on their mortgages, owing more than their homes are worth. This year HARP (Home Affordable Refinance Program) has been re-vamped to allow more homeowners to refinance their mortgages... read more

Tips to Avoid Telemarketing Scams
While there are many legitimate companies that use the telephone for marketing, consumers and business lose millions of dollars to telemarketing fraud each year. It's sometimes hard to tell the difference between reputable telemarketers and criminals who use the phone to rob people. Criminals use tactics such as offering sweepstakes and lotteries, loans, club memberships, vacations, work from home, and credit card scams... read more

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