Credit Logic

Tip of the Day - It's best to keep unused credit cards open so that you benefit from a longer average credit history and a larger amount of available credit. Credit scoring models reward you for having long-standing credit accounts, and for using only a small portion of your credit limit.

ℹ️The Fair Credit Reporting Act was developed to protect the consumer from unfair credit reporting practices. It was revised to include online disputes under Section 611a(8). In this section, it says that the agency may disregard other paragraphs if the information is deleted within three days of notice of a dispute.

❗The paragraphs to be disregarded include the following requirements:

➡️The credit bureau doesn’t have to forward the dispute and other information to the creditor.

➡️The credit bureau doesn’t have to send you with written results from the investigation of the dispute.

➡️The credit bureau doesn’t have to show the method of verification.