Is the Credit Blacklist a Real Thing or an Urban Myth

Is the Credit Blacklist a Real Thing or an Urban Myth Is the Credit Blacklist a Real Thing or an Urban Myth? Is the Credit Blacklist a Real Thing or an Urban Myth?Even though it can feel like youre being blacklisted, the real answer is much more mundane.Your fingers are shaking as you type the last of your information into the credit card application. You’ve been denied in the past, but this time you are sure that you will be accepted. After all, the company sent you a notice saying that you were “pre-approved!”You hit “submit,” cross your fingers, and wait. 15 seconds later a response comes back.Denied.What the heck is going on here?! You mention it to your uncle Terry and he tells you about this thing called the “credit blacklist.” Basically, because you’ve misused credit cards in the past, you are on a secret list that will ensure you never get a credit card ever again.Sounds about right, you think to yourself. But is that what’s really going on here? Is there really such a thing as a credit blacklist?No, there is no such thing as a credit blacklist.Please forgive us fo r not keeping you in suspense. But no there is absolutely no such thing as a credit blacklist.Maintaining a hard blacklist is forbidden under the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA). The FCRA was passed in 1970 and the ECOA was passed in 2003. Both are aimed at preventing discrimination in lending and ensuring proper use of citizens’ private data.But if there is no credit blacklist, then why would someone consistently be denied for credit? The answer lies in their credit history, as well as the algorithms that large companies use to make their lending decisions.Your credit history determines your credit future.Whenever you take out a loan or a credit card, make a payment (or not make payment), add money to your credit card balance, close a card, pay off a loan, or file for bankruptcy, that information gets reported by your creditor and added to your credit report.Information stays on your report for seven years (or longer in some cases, inc luding bankruptcy) and it weaves a fairly comprehensive picture of how you’ve used credit in the past. When people talk about your “credit history,” they are basically referring to whats contained in your credit report.Or rather, your credit reports, because you actually have three of them. Each of the three major credit bureausâ€"Experian, TransUnion, and Equifaxâ€"collects information and maintains their own separate version of your credit report. Depending on which businesses report to them, information can vary between reports.The info contained on your report is whats used to create your credit score. More often than not, the score used is your FICO score (created by the FICO corporation), but it could also be your VantageScore, which was created a joint venture by the three credit bureaus.If you are being denied for credit, it’s likely because of the info on your credit report and how it’s reflected in your score.A poor credit history can have the same effect as bein g “blacklisted.”The exact algorithm for creating your FICO score is secret, but the FICO corporation has made it known that your score consists of 5 different information categories and that some categories are more important than others.The two most important categories are your payment history  and your amounts owed. Payment history makes up 35 percent of your score, while amounts owed make up 30 percent. Together they make up well over half your total FICO score.The other three categories combine to make up an additional 35 percent of your score. The length of your credit history comprises 15 percent, while your overall credit mix and your recent credit inquiries each make up 10 percent.If you’re being denied for credit, the odds are good that it’s because of problems in your payment history and/or your amounts owed. Maybe you had a period where you were out of work and skipped a number of credit card or installment loan  payments. Or perhaps you were one of the 58 percen t of recent college graduates who racked up too much credit card debt within their first two years out of school.Even if it’s been half a decade since you cleaned up your financial act, that information is still on your report and dragging down your creditworthiness.Credit report errors could be resulting in a “blacklist” effect.Credit bureaus collect information on hundreds of millions of Americans, so it’s not at all surprising that mistakes end up on people’s reports. But that lack of surprise doesn’t forgive the immense damage that these errors can do to your score.Errors can arise from any number of things, including the company that reports the info to the bureau making a mistake on their end. Oftentimes, an error will stem from your information being confused with someone else’s because you two have the same name.Don’t worry. These errors can be fixed. To check your report for errors, just visit www.AnnualCreditReport.com and request a copy. By federal law, ea ch credit bureau is required to provide you with one free copy of your report per year. All you have to do is request it.If you find an error on your report, then follow the instructions laid out in this blog post: How Do You Contest Errors On Your Credit Report?Getting flagged by Chexsystems can feel like you’re on a blacklist.Beyond the three major credit bureaus, there are a number of credit reporting agencies that track different aspects of consumer behavior.One of the major agencies is Chexsystems, which tracks deposit accounts (stuff like checking and savings account). If you have a history of poor financial behavior with a checking accountâ€"racking up NSF fees, constant over drafting, refusing to pay a negative balanceâ€"then Chexsystems will flag you.The next time you go to a bank to open a new account, you could be in for a rude awakening. While opening a bank account might seem like a formality, a poor Chexsystem score will basically ensure that your application for a b ank account gets rejected.Information stays on your Chexsystems for five years, which means that it could be that long before you are able to open another bank account. And if a lender, landlord, or utility company decides to pull your Chexsystems report, it could negatively affect your application with them as well.There is no credit blacklist, but that doesn’t make having bad credit any easier.If there were a hard and fast credit blacklist, it would almost be a little comforting. After all, getting your name removed from  this blacklist would set you on the path to financial success. Personal loan and credit card applications would come flowing in, and you’d stop having to rely on bad credit loans, no credit check loans, and cash advances to get by.But the truth is far more complicated. Poor financial behavior will stick with you long after you’ve cleaned up your act, and random errors on your credit report will ding you for stuff you didn’t even do!The only thing you can do to improve your credit is to keep practicing smart money habitsplus a few weird little tricks that can help you out as well.To learn more about ways to improve your credit score, check out these related posts and articles from OppLoans:Want to Raise Your Credit Score by 50 Points? Here Are 4 Great  TipsHow to Fix Your Bad Credit in 2018Why You Should NOT Close That Old Credit CardHave you ever felt like you were on a credit blacklist? We want to hear from you!  You can  email us  or you can find us on  Facebook  and  Twitter.

The Most Important Scientific Discovery By Man Ever - 550 Words

What Has Been The Most Important Scientific Discovery By Man Ever? (Essay Sample) Content: "What Has Been The Most Important Scientific Discovery By Man Ever?"NameCourseInstructorInstitutionDate"What Has Been The Most Important Scientific Discovery By Man Ever?"Throughout the history of the world, there have existed scientists who have come forth with many discoveries that have transformed the world, for the better. Although some other discoveries have come to ruin the world, making it unsafe place, there exist hundreds of refined discoveries that have contributed a great deal, in positively shaping life on earth. Many of such discoveries are well known. However, there exist some other discoveries that are easily ignored regardless of the lots of incredible impacts they have contributed on the planet. Penicillin is one of the most significant scientific discoveries by man ever made (De 2005, p. 76). Its invention has greatly helped in the development of other medicines and even further other advancements in the world of medicine. Penicillin, a wonder drug,à ‚  has tremendously facilitated in the discoveries of other antibiotics, which have saved the world of many deaths that were a common thing, prior to the discovery of the drug (Baran et al. 2013, p. 25).The discovery process of penicillin started in the year 1928, when Alexander Flemming noticed some bacteria and fungus growth on his workstation and another dish containing mold juice (De 2005, p. 32).  The scientists then realized that his mold juice  could kill some of the bacteria. Through the help of his assistant, Frederick Ridley and Stuart Craddock, the trio isolated the penicillin from the mold juice  giving birth to the anti-bacterial drug. Penicillin was then officially introduced in 1940s to the medical industry in the era of World War II (De 2005, p. 43). During the time, the drug was widely produced and used as a therapeutic medicine, especially in treating soldiers who fought in the War.Before the discovery of penicillin, the world lacked an effective drug tha t could treat such infections as gonorrhea, pneumonia and rheumatic fever (De 2005, p.37). People could die from such ailments resulting from blood poisoning caused by small cuts or scratches. Doctors could not do anything to save people with bacterial or fungus infections other than waiting and hoping for miracles to happen. The adoption of penicillin in curing a wide range of diseases in the mid 90s led to the development of pharmaceutical industries in the United States and Europe. This furthered the study and research for more natural products that could possess antibacterial activity, which led to the discoveries of new antibiotics for instance streptomycin, tetracycline, aminoglycosides and many more (Baran et al. 2013, p. 65).Today, medical industry is experiencing breakthroughs, with the discoveries of new medicines (Stringer and Ahmadi 2009, p. 904). As new diseases keep on surfacing, advancements in medical science and technology have over the years stood out in helping er adicating the diseases, saving ...

Witty Mothers Day Quotes

A chuckle and good humor—that could be your gift to your mother on Mothers Day. Use these witty Mothers Day quotes to crack her up. Pin up posters with witty Mothers Day quotes to pack a punch. She will appreciate your sense of humor and your tactful expression. Roseanne BarrI know how to do anything—Im a mom. Rodney DangerfieldMy mother never breast-fed me; she told me she only liked me as a friend. Erma BombeckWhen your mother asks, Do you want a piece of advice? it is a mere formality. It doesnt matter if you answer yes or no. Youre going to get it anyway. Larisa OleynikIf my mom reads that I am grammatically incorrect, I will have hell to pay. Phyllis DillerI want my children to have all the things I could not afford. Then I want to move in with them. Milton BerleIf evolution really works, how come mothers only have two hands? Bob MonkhouseMy mother tried to kill me when I was a baby. She denied it. She said she thought the plastic bag would keep me fresh. Peter De VriesA suburban mothers role is to deliver children obstetrically once, and by car for ever after. Buddy HackettMy mothers menu consisted of two choices: Take it or leave it. Nora EphronWhat my mother believed about cooking is that if you worked hard and prospered, someone else would do it for you.

Mammal Species Characteristics

Have you ever thought about what makes mammal species different from other vertebrates? If not, Im sure that you have noticed the differences between a snake, which is a reptile, and an elephant. Being a mammal myself, I have always found this particular class of vertebrates very interesting. As you will see, mammals have certain characteristics that differentiate them from other vertebrates. Lets take a look at some of these characteristics. Mammal Characteristics To begin with, mammal species are in the Class Mammalia, within the Subphylum Vertebrata, under the Phylum Chordata, in the Kingdom Animalia. Now that you have that straight, lets look at some specific traits of mammals. One main characteristic that mammals have is a feature that usually stands on end in frightening situations. Can you guess what it is? Yes, its hair or fur, whichever the case may be. This trait is useful in maintaining the constant body temperature that is important to all endothermic animals. Another characteristic is the ability to produce milk. This comes in handy while nourishing babies which are usually born fully developed (exceptions are the monotremes and the marsupials). Fertilization occurs within the reproductive tract of the female and most have a placenta that provides nutrients to the developing embryo. Mammalian young are usually slow to leave the nest, which allows for a longer period of time for the parents to teach skills that are necessary for survival. Respiratory and circulatory features of mammals include a diaphragm for proper lung ventilation and a heart that has four chambers to ensure that blood is circulated appropriately. Mammals can comprehend and learn things, which can be attributed to a larger brain size as compared to vertebrates of similar size. Finally, the existence of teeth that are different in size and function is a trait that is seen among mammals. All of these characteristics (hair, maintaining a constant body temperature, production of milk, internal fertilization, young born fully developed, highly developed circulatory and respiratory systems, larger brain size, and differences in the size and function of teeth) make mammal species unique among the vertebrates.

Diabetes Mellitus Type 1, Type 2, And Gestational Diabetes

Introduction Diabetes Mellitus, also known commonly as diabetes, is a chronic condition in which the body doesn’t produce or misuses insulin in the body. There are different classifications of diabetes: Type 1, Type 2, and gestational diabetes. Type 1 is when the body does not produce any insulin. It is usually diagnosed in children and young adults. Type 2 is when the body doesn’t use insulin properly and can develop in anyone and seen at any age. Both types require strict management which can range from medications to diet. If it’s not managed correctly, it can lead to a diabetic coma or even death (Diabetes Basics, n.d.). Definition of the disease According to the American Diabetes Association, Type 2 diabetes is insulin resistant, or your body does not use insulin properly (Facts About Type 2, 2014). The body’s pancreas over produces insulin to make up for the misusage of it but overtime pancreas over works and can’t keep up with regulating normal blood glucose levels. History of the Disease Diabetes mellitus was first discovered in 1910 by Sir Edward Albert Sharper-Schafer after studying the pancreas. In 1949, insulin is discovered to help in the transporting process of glucose into the cells and in the same year the insulin syringe is designed and approved. A year later, the American Dietetic Association and the U.S. Public Health Service develop a meal planner and food exchanges. Type 2 diabetes isn’t recognize until 1959 when two doctors realize the someShow MoreRelatedDiabetes Mellitus : A Lifelong Disease935 Words   |  4 PagesDiabetes mellitus is a lifelong disease that lessens the body’s ability to use energy found in food. There are three major types of diabetes including type 1, type 2, and gestational diabetes. People with diabetes cannot break down the sugars and carbohydrates found in food. The main type of sugar the body uses for energy is glucose; Glucose is the special sugar that fuels the cells in your body. 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The Real Estate Market Barre, Massachusetts Is A Small...

Barre, Massachusetts is located in the center of the state, a small town of approximately 5,000 people. The real estate market there is average, with some new homes being built and families being drawn to the area for its small-town charm. Though it is a smaller community, routes 32, 122, and 62 are easily accessible and provide access to many larger cities including Worcester and Leominster. Many families that live in town have family members that travel to work in the larger cities. There are currently sixty homes for sale in Barre, MA, with the majority of them in the $250,000 to $300,000 range. Most homes in this range have three bedrooms and from  ½ to 2 acres of land. Styles of homes in Barre include antique homes and farmhouses as well as newer, modern construction. The homes are located in neighborhoods for the most part, with a few located on busier routes on the main streets. While most homes for sale are in this middle range there are a few homes with more acreage and f our bedrooms for sale upwards of $500,000. At the other end of the market there are a three houses for sale under $150,000. These homes are smaller, with two bedrooms, and are in need of some repairs and upkeep. While Barre is small, the town does have a small grocery store, the IGA, as well as a hardware store, a pharmacy, two gas stations and two banks. There are plenty of restaurants including an Uncle Sam s, a Dunkin Donuts and a Subway. The Barre Mill is an informal, family restaurant with

Preparation and Reactions of Boric Acid Free Essays

To prepare boric acid from sodium deteriorate (borax) To carry out tests on the prepared sample of boric acid To study the physical and chemical properties of boric acid Introduction: Boron is an element in the p-block of the periodic table. It has the electron configuration of 1s22s22p1 and is in group 3 or coup 13 (PUPAS classification). In nature, it consists of two isotopes BIB (19. We will write a custom essay sample on Preparation and Reactions of Boric Acid or any similar topic only for you Order Now 6%) and BIB (80. 4%). Boron is bonded to the oxygen in nature. The important sources of Boron are borax and kerning. Boron sides and their derivatives are technologically important and are relatively inexpensive to produce. Boron oxides is very difficult to crystallite and normally exists in a glassy state (d=l . CACM-1). Molten boron oxide has a high melting point of 450 degree Celsius that is readily dissolves metal oxides to form colored borate glasses as one of the main commercial uses of boric oxide. Particularly, borosilicate glasses find wide applications in glassblowing and the production of glass objects. On top of the boric acid, it is also known as hydrogen borate as a weak monobasic Lewis acid. At room temperature, it exists as white powder or colorless crystals with a chemical formula of HOBBS or B(OH)3. Apparatus and materials: ;Sodium deteriorate ;Concentrated hydrochloric acid ;Concentrated sulfuric acid ;Methyl red indicator ;Imitation ;Beaker ;Methanol ;Distilled water ;Electric heater ;Test tube ;Test tube rack ;Glass rod ;Suction funnel ;Suction pump ;Filter flask ;Filter paper ;Spatula ;Watch glass ;Splint Procedures: 1 . About log of sodium deteriorate (borax) is dissolved in CACM of water in a beaker. 2. The mixture is boiled and CACM of concentrated hydrochloric is added into the solution. 3. The beaker is immersed into a container with ice and water to cool down the temperature. 4. After the solution is cooled down, the boric acid is crystallized out by using the Boucher funnel, 2 layers of filter papers, suction pump and a filtering flask. 5. The remaining crystals in the beaker and on the glass rod are washed well with ice-cold water for a few times and filtered off with the Boucher funnel. 6. The yield is left aside to be dried and the weight is measured and recorded. Test 1 1. A little boric acid is inserted into a test tube. 2. Small amount of distilled water is added to dissolve the acid in the test tube. 3. A drop of methyl red indicator is added. 4. Test tube is labeled as A. 5. Steps 1 to 3 are repeated again by replacing the acid with the imitation and the test tube is labeled as B. 6. Half of each solution in test tube A and B are mixed in a test tube labeled as C. 7. All results and observation are recorded. -rest 2 1. A small amount of boric acid crystals is inserted into a Tyrant boiling tube. 2. A little ethanol is added into the boiling tube Just to cover the acid. 3. Some concentrated sulfuric acid is then added into the tube. 4. The boiling tube is held by a test tube holder and heated on a Bunsen burner. 5. The vapor produced is ignited by using a burning wooden splinter. 6. All observations are recorded. Discussion: First and foremost, we managed to yield 4. Egg of HOBBS. According to our calculation, the theoretical mass that we are supposed to obtain is 6. Egg. This means that our percentage of yield is 74. 64%. According to Vogue’s Textbook of Practical Organic Chemistry, yields around 100% are called quantitative, whereas yields above 70% are good. This means that our team did quite a great Job. Boric acid is a Lewis acid that is able to interact with the water molecules to give out hydrogen ions and dehydrogenation ion in the solution. In test 1, the methyl red indicator is used to determine the acidity of the each solution in different test tubes. The indicator can show the pH range at around 4. 4 – 6. 2. At pH 4. 4, the solution with the indicator will appear to be in red in color and whereas at pH 6. , it will show allow. On test tube A, solution turns from colorless to pink color. This shows that boric acid is a relatively weak acid with pH around 4-5. Next on test tube B, the methyl red indicator is added into a imitation solution. The color of the solution seemed to remain unchanged. It is colorless. In fact, the solution is supposed to change from colorless to yellow. Perhaps, we accidentally made some mist akes by adding the wrong reactant in the experiment or we were a bit of too rush deciding the color of the solution without looking at it carefully. Thirdly, when we mix both he solutions from A and B, an intense pink solution is formed. This means that a stronger acid is formed. It can be simply explained by the stronger acid complex formed in between imitation and boric acid. The pH is less than 4 for sure. According to the test 2 results, a beautiful green flame is formed when we ignite the vapor with a burning wooden splinter. By mixing the alcohol (methanol) and acid (conch HOSTS) will create ester (CHI)BIBB. An alcohol flame itself is usually, ordinarily colorless. The presence of the green in the flame is indicating the ester formed contains boron element. A strong acid like concentrated sulfuric acid is needed to propionate the HOBBS and this will create the electroplate which attacks the O atom of the methanol. Without the existence of a strong acid, an intense green flame might not be formed. This is because ester may not formed and even if it is formed, it will exist in equilibrium with the alcohol boric acid. Thus, making the green flame not really intense. There are a few precautionary steps that should be taken during this experiment. Firstly, suction pump used in test 1 is powerful and thus, 2 layers of filter papers are seed to cover the holes of the Boucher funnel. From our experience, the suction pump will cause the filter paper to be torn if only a piece of filter paper is used. Furthermore, we shall always pour the solution slowly on the rod, so that the solution will flow slowly without causing any wastage. By using this method, we can make sure the crystals are accumulated in the middle of the filter paper and it eases our Job to take out the filter paper from the funnel. On top of the safety, all acids are corrosive. In this experiment, we use concentrated hydrochloric acid and concentrated elliptic acid. We shall wear gloves and handle them with extra care to prevent and avoid any accident to occur. In addition, a tyrant boiling tube is used instead of a test tube in test 2 (flame test). A boiling tube can withstand strong heat without breakage. Test 2 (flame test) has to be carried out in the fume hood as the vapor released from the boiling tube is toxic. Therefore, we shall remain our distance with the vapor, although the green flame is beautiful. Last but not least, we shall discard the excess boric acid into the waste bottle instead of basin as to prevent water pollution. How to cite Preparation and Reactions of Boric Acid, Papers