Personal finance with Scott Burns: Always worry when someone invites you to

Personal finance with Scott Burns: Always worry when someone invites you to
Q: I have been informed about a group that finances receivables and sells them to investors, who get a return of 5 to 7 percent. I have never heard of this type of investment. Apparently you must be “invited” to invest. Have you heard of this? Is this …
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Best loan rate starts to beat mortgages
Hitachi Personal Finance, Sainsbury's Bank and Tesco all offer loans under 4.5pc, while many standard variable rates (SVR) on fixed rate mortgages are still priced at around 5pc. Santander's SVR, for example, is 4.74pc. >> Our mortgage "best-buys" here …

Biz2Credit Small Business Lending Index for Nov. 2013 Reports Rebound in Loan Approval Rates at Banks and Other Lenders

Biz2Credit Small Business Lending Index for Nov. 2013 Reports Rebound in Loan Approval Rates at Banks and Other Lenders

New York, NY (PRWEB) December 11, 2013

Small business loan approvals at big banks ($ 10 billion+ in assets) increased to 17.4% in November 2013 from 14.3% in October, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on In a year-to-year comparison, lending approval rates at big banks have increased more than 30 percent.

“Big banks have begun to feel the pressure to lend more money with the Dodd-Frank reform charging nearing and we should expect to see more changes accordingly in the next year,” said Biz2Credit CEO, Rohit Arora, who oversaw the research.

Additionally, small business loan approvals at small banks increased from 44.3% in October to 49.7% in November. More importantly, approval rates at banks both big and small have returned to pre-government shutdown levels in September, as the IRS and SBA are catching up on the backlog of loan applications.

“The refinancing boom at big banks has waned, and their distribution strength will soon fade as branch networks are losing money. Big banks must begin to focus on improvements in other areas such as technology,” added Arora, one of the nation’s leading experts on small business finance. “It’s still puzzling why many banks and credit unions still do not offer online small business applications to streamline the process. This would benefit both the financial institutions and the loan applicants.”

Meanwhile, credit unions, which had been on the lending rebound prior to the government shutdown, also experienced a slight increase in approval rates in November. Approval rates at credit unions improved to 44.5%, from 43.4% in October, but they are still down nearly 10 percent in a year-to-year comparison.

Alternative lenders continue to thrive in small business lending. Approval rates by alternative lenders dropped slightly to 67.2% in November 2013, down from 67.3% the previous month.

“The popularity of alternative lending continues to increase as the desperation of small business owners to acquire capital becomes more urgent and because alternative lenders’ interest ratted have dropped considerably,” Arora explained. “The vast majority of alternative lenders are no longer ‘legalized loan sharks,’ as was frequently the case a few years ago. New players continue to enter the small business adding market.”

Arora anticipate that funding approval rates will climb in December and beyond as more pressure from Dodd-Frank is expected in the coming months.

To view the historic mapping of the Biz2Credit Small Business Lending Index, click here.

About the Biz2Credit Small Business Lending Index
Biz2Credit analyzed loan requests ranging from $ 25,000 to $ 3 million from companies in business more than two years with an average credit score above 680. Unlike other appraised, the results are founded on primary data submitted by more than 1,000 small business owners who applying for funding on Biz2Credit’s online lending platform, which connects business borrowers with more than 1,200 lenders nationwide.

About Biz2Credit
Founded in 2007, Biz2Credit has arranged more than $ 1 billion in small business funding throughout the U.S. and is widely recognized as the #1 online credit resource for startup loans, lines of credit, equipment loans, working capital and other funding options. Using the latest technology, Biz2Credit matches borrowers to financial institutions based on each company’s unique profile — completed in less than four minutes — in a safe, efficient, price-transparent environment. Biz2Credit’s network consists of 1.6 million users, 1,200+ lenders, credit rating agencies such as D&B and Equifax, and small business service providers including CPAs and lawyers. Visit, follow on Twitter @Biz2Credit, and Facebook at


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Related Equifax Press Releases

How do you get your free credit report if you don’t have the requested information?

Question by : How do you get your free credit report if you don’t have the requested information?
I recently attempted to get my free annual credit report online, however my attempt hit a wall when I was asked to provide a credit card number for a debt that I had accrued a few years ago. I no longer have any information which tells me what this number is and the only way I’ve found that I could retrieve this number would be to actually see the credit report itself. Is there any way around this catch-22?

Best answer:

Answer by Villa
Make sure you are actually on the site the FTC considers the only non scam/spam site, which is very careful in typing that address since there are spam/scam sites with very similar names. A mis-type by one letter can take you to one of those.The reason I mentioned the above is that when asked security questions ,they generally do not ask such a specific question like asking for an account number.Usually the questions are more generic and they will give you several options to chose from for the answer.Such as – In did you have a loan with – then they will list 4, or so, different creditors and ask you to choose a yes or no answer.Double check what site you are trying to get your reports from and if in doubt, go to the CRA’s own websites and enjoin from there or call the phone number they list.

Give your answer to this question below!

Free Credit Score Analyzer Video Released by Helps Consumers Understand How to Improve Credit Scores

Free Credit Score Analyzer Video Released by Helps Consumers Understand How to Improve Credit Scores

Los Angeles, CA (PRWEB) May 2, 2008, the credit and debt site that keeps consumers updated on the latest information regarding personal credit reports, credit scores, and credit monitoring services has released a special feature to help consumers understand the anatomy of a credit score. The video feature, “Understanding My Credit Score” is available to visitors at the Credit Learning Center.

“Increasingly, consumers want to know, what’s my credit score and what can I do to improve my credit score? We produced this video to help consumers understand how information in their credit report impacts their credit hit,” said Walter Burch, Editor of Credit Learning Center. “Beyond maintaining a good payment history, many consumers aren’t aware of the other things they can do to improve credit scores. This video feature will clearly explain what consumers can do to assist improve credit ratings on all three credit bureaus, Experian, Equifax, and TransUnion,” added Burch. In addition to payment history, the feature also explains the statistical significance of other credit score factors such as debt-to-available credit ratio, length of credit history, credit inquiries, and more.

The average credit score in the U.S. is about 680. Typically, consumers with a higher-than-above credit tallied are extended lower interest rate offers on everything from home loans and refis to auto loans, credit cards and more. These days, special credit scoring formulas are also utilized by the insurance industry to manage venture and determine rates for various categories of insurance including home insurance, auto insurance, and more.

The bottom line: The three digit credit score is an asset that can be worth tens of thousands of dollars or more over the lifetime of a consumer.

For the complete video have “Understanding My Credit Score”, consumers may see


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More Free Credit Score Press Releases

Instant Online Credit Report Pros and Cons

L. Sampson asked:

Knowing what is on your credit report is important and with the plethora of companies that offer instant online credit reports for free, getting a copy of yours is easier than ever. There are good reasons to take advantage free online credit reports, but with anything that contains your personal information, there are reasons to be cautious.

Benefits of getting an instant online credit report

Having instant access to your credit report can come in handy. If you are heading out to go car shopping, you might want to quickly peruse your current credit report so you know your credit worthiness before you talk to the finance people at the dealership. Often companies that offer these services provide you with a consumer friendly report that is much easier to read and understand than the official credit reports offered through the 3 credit bureaus.

Risks to consider when getting an instant online credit report

As with anything that requires you to enter your personal information, it is important that you only deal with reputable companies. Over the last few years, there as been an upswing in fraudulent companies offering free credit reports and then stealing personal information from their customers. Typically the victims are solicited through emails advertising free instant online credit reports, so be skeptical of any advertisements for free credit reports that show up in your email inbox.

When you have found a reputable company to request your free instant online credit report from, make sure you know all the terms and conditions that come with the free report. Some free reports are only available if you sign up for a monthly credit monitoring service for which you will be billed. This isn’t a problem if you are interested in having your credit monitored, but can be inconvenient at best and expensive at worst if you have to pay monthly for a service you really don’t want.


I would like to get my credit report free online but each website ask for my credit card. Where can i check?

muslimah asked:

I would like to have my free credit report without giving my credit card information. Where can i obtain a copy of my credit report without paying anything?


Where Can I Get My Free Credit Report

Steve Evans asked:

et a free online Experian Credit Report at their web site locations when you sign up for a free trial of credit monitoring and the service is free as long as you cancel soon afterwards and before the initial free trial period is over. Simply fill out your information for identification purposes, answer a few questions and your credit report will be available to you online, in seconds, once your identity has been confirmed.

Your Username and Password will then enable you to view your credit report for 30 days over the Internet in the most secure environment that they can provide. You will also have access to an array of benefits offered by the credit card company.

Getting your Credit Report & Credit Score is the first step in knowing your credit. Monitoring your credit report allows you to stay on top of your credit on a daily basis.

Take the guesswork out of what/\’s happening with your credit say the guys and gals at Triple Advantage. They offer the opportunity for you to enroll in a free 7-day trial of Triple Advantage and get a FREE credit report & credit score just for trying it!

The fact is that consumers living throughout the U.S., have had the right to order a free copy of their credit report thanks to a federal law, known as the Fair and Accurate Credit Transactions Act (FACTA), adopted by Congress in 2003. Now that credit reports are free, consumers have better access to this important document and can take steps to make sure it offers a fair picture of their credit history.

Your credit is one of your most important assets. Having good credit means you should have more options to borrow money at the lowest cost and from the best lenders. It also means that others who look at your credit such as landlords, insurance companies, or even prospective employers are less likely to turn you away or penalize you because you have poor credit.

In this world where fraud seems like a second language on the internet, we sometimes find it hard to trust companies we want to deal with, and it is right to be careful. When it comes to repairing your credit, we recommend that you must be extremely careful about who you choose to help you along our way.

Many credit repair companies do also claim to remove negative credit as fast as you can flick a switch. Their advertisements make bold assertions and money-back guarantees. One such advert said, for example, “Bankruptcy, tax liens, judgments… no problem!! One hundred percent guaranteed!! Credit report 100% cleared in 30 days!!” Can they really make such sweeping guarantees? You decide, but be cautious and if you are worried about the risk do take expert advice. – is worth a try. I know you can use it to monitor your credit and also do clean off any bad items in your credit report. You can apply for free initial plan and get your scores and reports for free.

I know that they do say that the only way to get a free credit report that is actually free is through the government. , Experian, Transunion, and Equifax are all in it together to make money out of us. So, where can I get a “really” free credit report without having to give up my credit card information and sign up for some monthly membership or a dumb “identity theft monitoring alert” service?

Unfortunately in order to get your credit report a lot of the websites ask for your credit card information. They do that so when you sign up for a free trial if i you don/\’t cancel within that time they can charge your account. I am told that is one of the best ones out there. I believe you can sign up for their free 30 day trial and cancel it before the 30 days was up and don/\’t get charged anything.

Information here should not be construed as advice and it is offered without legal responsibility or liability. It must be emphasised that you should consult a professionally qualified individual or company (such as an accountant, financial adviser or solicitor for example) should you need advice on your financial situation, as they will be able to fashion their advice to your position accordingly.


Why You Should Apply for a Free Credit Report And What To Do If It Is Bad

Emanuele Allenti asked:

A free credit report is exactly what you need if you are unsure about your credit rating. It will allow you to find out exactly what is improving or diminishing your credit rating-and also help you to determine how best to react. There are hundreds of companies that say they can offer you a free credit report, but they will usually have a hidden charge that you won’t know about until you realize that some money has been drafted from one of your accounts. Other companies, however, are totally legit and will give you your free credit report without any additional charge.

Your free credit report will let you know why credit card companies keep turning you away. A bad credit rating will mean that you are not suitable for a credit card from that company. They will more than likely require a certain credit score for you to obtain a credit card. A free credit report will let you know where you stand in other companies’ eyes; it will also let you know your chance of being approved for a credit card.

If you have taken out a loan within the past year and had some trouble paying it off, then your credit score would have taken a bit of a knock; and you won’t know how bad it could be. So applying for a free credit report will let you know where you stand. There are two ways to apply for your free credit report. One way is through the Internet, which will allow you to have instant access to your credit report; the other way is via telephone and you will receive your credit report within two weeks through the mail.

It is a good idea to keep an eye on your credit score so that you know how bad or good it is. You will then know how likely you will get accepted for a credit card. Or how likely you are to get accepted for renting a property.

If you have just received your credit report and it wasn’t what you expected, then you will want to know which steps you should now take to correct your problems. There are a few ways to clean up your credit report and to make your credit score hit the right side of the bar. If you are wondering how to clean up your credit report, then it would be a good idea to ask yourself what got you the bad report in the first place. If it was not paying your credit card bills, then you have to convince yourself to finish paying off your debts-and to determine how best to do it. You have to sit down and write yourself a sensible budget plan and then follow through with it. That is just one sensible way on how to clean up your credit report.

Upon seeing a bad credit score, you will immediately want to know how to clean up your credit report. The best thing to do is to cut off all the things that are making it bad. Late payments are usually part of the problem; and if you don’t have a lot of money to begin with, it is probably a good idea to limit your spending to your bills. Another somewhat unorthodox approach to cleaning up your credit report is to apply for more credit from companies that you know you can pay back. You borrow small sums of money that you can pay off quickly and without any problems; this will show that you can pay off your borrowings, and that will impress the next person you seek to get credit from.

Cleaning up your credit report is a learning process. You will need to find out effective ways to restore your credit-and then you will have to consistently apply them to your life to alter your spending, saving, and bill-paying habits.


Free Credit Report Online – I need something free, instant and easy. What is the best site?

Hermon asked:


I am looking for a free credit report online. Preferably a service which provides instant results and is easy to understand. Can anyone recommend the best site to use? Something like a free credit report comparison would be awesome or even just somewhere that I can get more information about free credit reports.

Many Thanks!


You Can Get a Free Credit Report With No Hidden Fees – Get it for Free of Charge

Bryan Burbank asked:

Your credit report is your pathway to getting a loan. Most people look at these offers for a free credit report and then later they find out they were charges for some service that they did not want. You can get your free credit report without any hidden fees or extra charges of any kind.

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There are three major credit reporting agencies and they will give you a free credit report once each and every year. It is so important that you know what your credit report is at all times. There are many people who have errors on there reports and this keeps them from obtaining the loan they desire. The most important reason for having a good credit rating is that it gives you power to negotiate when you are purchasing a new home or a car.

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If you find yourself with a lower than average credit score than it is almost impossible to get approved for a low interest loan and if you are buying a house it can be thousands of dollars that you will have to pay in extra interest.

When you get your free credit report you will want to check it for any errors or any items that you do not agree with. If you find any then it is up to you to dispute these items with the reporting agency. They have 30 days after you file a complaint to verify if the information on the report is accurate or not. If they can not verify it then they are required to delete the item by law.

Remember that you can get a free credit report without paying any extra fees just make sure that you check your report to make sure it is accurate after you receive it.


Free Credit Report Online – I need something free, instant and easy. What is the best site?

sheena asked:


I am looking for a free credit report online. Preferably a service which provides instant results and is easy to understand. Can anyone recommend the best site to use? Something like a free credit report comparison would be awesome or even just somewhere that I can get more information about free credit reports.

Many Thanks!


Does anyone know the site for free credit reports when the gov. messed up?

♥countrygal♥ asked:

The gov. sent out mailings with peoples social security numbers typed on the front. They then sent out letters to everyone giving them a free site to check their credit because of identity theft. I can’t find the letter and need the web site. Also was there a specific code or anything you needed to use so they knew you were one of the people to receive the error mailings?