MyMagicCredit.com ™ Credit Tips

About Credit Repair Fraud
Beware of Credit Repair Services that don't disclose your rights, that advocates new identities. Fraudulent credit repair companies have long been the target of FTC investigations which snared 20 credit repair companies in February 2006..." Read More

Bad Credit
Let's face it; when buying a new home or refinancing your mortgage loan, you don't want to be stuck with a high interest rate because of your bad credit... Read More

What is Poor Credit Costing You?
With the price of housing and transportation now on the rise, it has become more important than ever to achieve and maintain a healthy credit score. For those with poor credit, increased interest rates may further inflate the cost of living... Read More

About Credit Scoring
How credit scores can affect your mortgage approval. ”Most anyone who has obtained a home mortgage in the past 5 years or so has heard about credit scoring. How many of you have been told "your scores are great", or "if your score were 10 points higher, your rate...“ Read More

FICO Score
FICO scores are your credit rating, they range from 300-850, higher is better. Most lenders base approval on them and Higher scores mean lower interest rates...“ Read More

Credit Scoring and the Lending Industry
How the lending industry uses credit scores. ”When you apply for a mortgage, your lender will request a credit report from a credit reporting company. This is usually a local or regional company. This company pulls together a credit report...“ Read More

Nature of Credit Bureaus
Most of your creditors don't want you to read this. Why? Probably because the world's most powerful banking interests desperately need consumers to buy into a few oft-told myths which perpetuate their businesses... Read More

Dealing with Credit Bureaus
How to deal with credit bureaus. ”It is essential to understand that Credit Bureaus are nothing more than record keepers. Simply put, they keep a record of who has given you credit, when they gave you credit, how much credit you are given and whether or not...“ Read More

The Fair Credit Reporting Act
Your rights are important! ”All Federal Laws are in the consumer's favor. This means you have the advantage. The specific law used here is the Federal Fair Credit Reporting Act.“ Read More

The Fair Credit Billing Act
The Fair Credit Billing Act requires creditors to bill correctly and completely, and it's the FTC's job to make sure that the statute is universally applied. As you read the list of requirements... Read More

The Fair Debt Collection Practices Act
Historically, so many collection agencies proved to be such scoundrels (and of course there were exceptions) that the Fair Debt Collection Practices Act was enacted to protect ordinary people from their wiles... Read More

Removing Negative Credit
"Steps to remove negative credit items. ”Step 1: To dispute a negative item on your credit file you need to first identify the negative items that you want removed. Once you know which items to dispute, DO NOT complete the Dispute Forms that the Credit Bureaus included with copies of your credit file that they sent you...“ Read More

Credit Cards for People with less than perfect credit
"Struggling with less than perfect credit? These cards are designed to help. Problem credit cards are help when fixing a credit report or credit score. Keep open reported current lines of credit that show you have paid on time so your credit score goes up or stays up...“ Read More

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