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Beginning July 1, some Americans’ credit scores may increase by as much as 20 points. Effective Saturday, the three major credit reporting companies — Equifax, Experian and TransUnion — will reevaluate two pieces of information that have, in the past, negatively impacted credit scores. Tax liens and civil judgments will no longer leave a blemish on your credit score.
According to a report by FICO, about 7% of the population, or about 11 million people, will have a judgment or lien removed from their report. For those who will see their scores rise following this change, it could be by up to 20 points.
Remember that there are quite a few ways you can check your credit score for free. Many credit card issuers, such as American Express, Barclaycard, Capital One, Chase, Citi and Discover allow you to check your credit score for free as a cardholder. And if you’re not a cardholder, Discover, Capital One and Chase allow anyone to enroll in their programs and check their scores for free.
Beginning this Saturday, July 1, quite a few Americans will be pleased to see their credit scores increase — even if it’s just by a few points. With credit scores, every point counts, so the possibility of an additional 20 points is great news for those who have seen their scores decrease because of liens or judgments.
With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game. Here are the top 5 reasons it should be in your wallet, or read our definitive review for more details.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards