Credit scores change as the information on your credit report changes,
sometimes as often as once a day. Some consumers get caught up in their credit
scores and obsess about what they can do to raise them. Rather than concentrate
on the number itself, the best thing you can do is to concentrate on good credit
habits, such as paying bills on time and keeping your debt to a minimum. Using
smart financial practices, you can grow your credit score over time.
credit was often cut off or reduced. But with the passage of the ECOA, these automatic actions are outlawed. Whatever rating system a creditor uses, he can not downgrade your rating simply because you are 65 or older. The Fair Credit Reporting Act (FCRA), if you are of legal age to sign a contract, a creditor can not:
Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.