Americans boost debt for second-straight month – In search of perfect credit: How you can boost your score

Americans took out $5.56 billion more in auto, student and personal loans in November but continued to cut credit card debt, the Federal Reserve just reported. It’s the first back-to-back monthly increase since the summer of 2008.

Full Story: http://content.usatoday.com/communities/ondeadline/post/2011/01/americans-boost-credit-debt-for-second-straight-month/1

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In search of perfect credit: How you can boost your score

In the enigmatic realm of credit scores, 850 is frequently the magic number* — the almost mythical perfect score. But how possible is it really to achieve a perfect score, and is it worth the effort? MyFICO.com reports that only 13% of consumers have achieved scores over 800.

Don’t make any credit inquiries for six months.

* As long as you won’t seek loans in the next six months, open a handful of new credit card accounts

* don’t cancel old cards, and keep them in occasional use so they don’t get canceled by the issuer.

* take out a car loan even if you can pay in cash, and don’t hurry to pay off student loans if the interest is bearable.

By Colleen Kane, CNBC.com

http://www.usatoday.com/money/perfi/credit/2011-01-08-perfect-credit-score_N.htm

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5 Ways to Wreck Your Credit Score

Settling past-due debts with a creditor to pay less than you owe.

Transferring balances from a high-interest account to a low-interest account.

Closing old credit cards.

Paying off your car or your mortgage.

Avoiding debt altogether won’t help you.

By: Colleen Kane

Full Story: http://www.cnbc.com/id/40606384?__source=usatoday|perfectcreditscore|&par=usatoday

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Credit scores get easier to track down and less secretive

Under "risk-based pricing" provisions that took effect Jan. 1, lenders are required to send a notice to loan applicants who receive a loan with a higher rate than the best rate available. The notice must also explain how the applicant can get a free credit report.

However, the law gives lenders who don’t want to wrestle with these notices — and the rules governing who must receive them are complicated — an alternative. If they send all loan applicants a copy of their credit score, they don’t have to provide risk-based pricing notices.

Sandra Block

Full Story: http://www.usatoday.com/money/perfi/columnist/block/2011-01-11-yourmoney11_ST_N.htm