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My credit report is showing some late payments on a couple of my credit cards and I know I wasn't late in paying them.
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Your credit card statement says a payment is due on or before a specific date, but waits to post payments on that date unless they were received at a designated early hour, before the usual mail delivery time. Some of these banks will even raise the interest rate based on this "late" payment.
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I pay my bills, how can my FICO score be so low?
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Your scores could be based on false and inaccurate information. In 2002 the Consumer Federation of America (CFA) conducted a survey: 43% of parents of reports had conflicting information as to how often consumers had been late by 30 days. In 29% there was conflicting information about how many times the consumer had been 60 days late. Conquer Credit will strive to get this information correctly updated or even deleted all together.
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We are getting ready to purchase a new home. How is my FICO score going to affect our mortgage?
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Falling below the 620 cutoff point can impose significant costs on mortgage borrowers. Over the life of a 30-year, $150,000 mortgage, for example, a borrower incorrectly charged a subprime rate of 9.84 percent instead of a prime rate of 6.56 percent would pay $317,517 in interest instead of only $193,450 in interest—a difference of $124,067 in interest payments. We work directly with Mortgage Brokers to get you qualified for the best rate we can and our work can save you thousands in interest rates alone.
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