Premier Blog

Latest Posts

Start your credit repair today!

  • Categories
  • Archive for the ‘History and Reporting’ Category

    The Impact of the Great Recession on Credit Scores

    Monday, December 22nd, 2014

    When considering the impact of the Great Recession on credit, many assume that there was an overall negative result. With all of the credit defaults, it is reasonable to expect a decline in scores. However, this is not what we actually see. The results may not be what you would initially think. Up? It could […]

    You haven’t got a CLUE

    Monday, November 10th, 2014

    Just when you think you realize how much of your information is being passed around, there is another entity compiling your financial footprint. LexisNexis (formerly ChoicePoint) is a company similar to the credit bureaus. It collects information on your dealings with insurance instead of with credit. Just as credit related information is reported to the […]

    Frequency of Inaccuracies – Reporting Errors on Credit Reports

    Monday, August 11th, 2014

    Lebron James shot .567 from the field in 2014. Ty Cobb hit .366 over the course of his career, good enough for the best of all time. Peyton Manning’s completion percentage was .683 in his 2013 campaign. So how are the credit reporting agencies doing? We would expect excellence from those reporting our financial dealings […]

    Credit Bureaus – The Ugly Truth

    Monday, July 7th, 2014

    The average American consumer has little knowledge of the credit reporting process that leads to the formation of credit reports.  Most understand that credit reports are important, but few investigate their own report for errors.  This inherent trust of the credit reporting process is unfounded and dangerous.  The three largest consumer reporting agencies (CRAs), or […]

    Credit Monitoring

    Monday, June 23rd, 2014

    Ever feel like you’re being watched all the time?  Security cameras, internet cookies, or that man in the trench coat over there (yeah we see you bud) make it seem like nothing ever goes unseen.  But what about your finances?  Many banks, the credit bureaus, and other companies offer credit monitoring services.  These services alert […]

    Credit: A History

    Friday, June 13th, 2014

    Friday the 13th is unlucky for several reasons, one of which is that in 1307 the Knights Templar was taken out by the debt-ridden French monarch on that unlucky day.  As it is Friday the 13th, we will honor the destruction of the Knights Templar by exploring the history of credit – stick with me […]

    Irrelevant Factors

    Monday, April 28th, 2014

    Although a credit report contains many items, it does not contain everything about you.  Consumers are protected by law from having certain things on their credit reports or considered for their score.  Other factors are chosen to not be included because they do not accurately predict credit risk.  Below are listed some things not on […]

    Credit Scoring Models: 99 Bottles of Credit on the Wall, 99 Bottles of Credit…

    Monday, April 14th, 2014

    FICO was first, therefore it has had a virtual monopoly on credit reports used in the industry for decades. In the last ten years with the proliferation of the internet, many other scores have appeared.  Each predicts default risk in slightly different ways.  Many of them appear similar to FICO’s scale but are in fact different […]

    Purpose of a FICO Score – Predict Default Risk

    Monday, December 9th, 2013

    The importance of credit scores cannot be emphasized enough, but what is the intended purpose of such scores?  Developed by Fair Isaac Corporation (FICO) in 1958, credit scores attempt to compile all financial data on a person and represent his/her default risk in a simple scalable number.  With this data, a lender can properly accept, […]

    Putting the “Free” Back Into “Free Credit Report”

    Thursday, September 26th, 2013

    On 26 September 1914 the Federal Trade Commission was created.  The FTC has become stronger and more active throughout its existence and today it is a major player in the credit world.  The enforcement of free annual credit reports is under the jurisdiction of the FTC, which were made available under the Fair Credit Reporting […]