The Flip Side of the Card Act
With the new credit card regulations that were passed with the recent Card Act, creditors have an obligation imposed upon them to be more fair and transparent. However, since this fairness and transparency will wind up costing credit card companies as much as 80 million dollars yearly, the industry must come up with some way of making that money back.
Free credit report is really free to get. However, there are some sites that misuse the law and get the benefit of the ignorance of the users. When selecting the right website, the users can avoid any contradiction.
Grasping your FICO score is relatively straightforward. Your credit rating is based on several factors, payment record, length of credit payment history, and derogatory marks on a credit file. Regrettably in a down economy many people are finding themselves with stumpy credit scores.