3 Ways You Could Be Hurting Your Credit Score Even If You Pay Your Bills On Time

(frankieleon)

If you pay make regular credit card payments that are well above the minimum, and no one is hassling you about outstanding bills you might assume that your credit score is getting healthier or at least maintaining its current level. But there are some mistakes that consumers don’t even realize they’re making that could be hurting their FICO numbers.

Credit.com has a good roundup of ways people “accidentally” hurt their credit scores. Here are the ones we found the most intriguing:

1. Not Paying Attention To Credit Balances

You don’t have to be in deep debt to creditors to harm your credit score, especially if you don’t have a substantial line of credit to begin with.

Your “amount of debt” is the second-biggest chunk of your FICO score (after your payment history), accounting for about one-third of the calculation, and your debt-to-credit ratio has a big impact on this figure.

If that ratio goes higher than 30%, it’s negatively impacting your score. So someone with $1,000 in debt and $10,000 in credit isn’t hurting themselves, but if that same person only has $3,000 in credit, their credit score is worse for it.

This is why you should be cautious when closing out credit card accounts even if they don’t carry a balance. The loss of that available credit pushes your debt-to-credit ratio higher.

2. Co-Signing Loans

We’ve told you horror stories in the past of family members left on the hook for loved ones’ loans after the borrower died or became unable to pay, but if that borrower misses a payment or comes up short on payments your credit score may start sinking without you even realizing why.

3. Applying For Too Many Lines Of Credit

It can be so tempting to take advantage of promotions like 0% financing or cards with huge rewards bonuses for new members. Even if you have no problem paying off the purchases made with these new lines of credit, merely applying for these accounts results in “hard pull” inquiries of your credit report, which accounts for 10% of your score.

That doesn’t mean you shouldn’t sign up for lines of credit; just be aware that each application results in a short-term ding on your score.

by Chris Morran via Consumerist

DEA Agent Says Legalizing Medical Marijuana In Utah Will Lead To Stoned Rabbits

(frankieleon.)

There are many arguments for and against using marijuana legally in this country, whether for medical use or for fun, but one drug enforcement official’s reason for his stance against legalizing it in Utah is surely one nobody’s about to forget: He says wild bunnies will get high off the stuff.

The state is currently mulling a bill that would allow people with certain medical conditions to be treated with edible forms of marijuana, reports the Washington Post.

During a Utah Senate panel on the topic last week, an agent of the Drug Enforcement Administration weighed in with his testimony, saying that if the bill passes, the state’s bunnies may “cultivate a taste” for the plant. Once they’re baked, they won’t be afraid of humans and will just sit around in their parents’ basements eating dandelion greens.

DEA Special Agent Matt Fairbanks spoke about the environmental costs associated with growing a bunch of pot on public land, mentioning all the pesticides, chemicals and possibilities for deforestation and erosion.

“The ramifications to the flora, the animal life, the contaminated water, are still unknown,” he said, adding that at some marijuana grow sites, he saw “rabbits that had cultivated a taste for the marijuana. … . One of them refused to leave us, and we took all the marijuana around him, but his natural instincts to run were somehow gone.”

On the one hand, points out the Post, illegally farming anything can hurt the environment. But on the other hand, if it was legal to grow marijuana, the state would be able to regulate how it’s cultivated on farms and in gardens instead of tucked away in the mountains.

The specter of stoned rabbits roaming lethargically through the mountain passes wasn’t enough to convince the panel against the bill, as it approved it and sent it to the full Senate. It’ll be debated this week.

Now while we all think about the stoned bunnies, let’s remember to never feed Fido or Mr. Furrykins McCatterson pot.

DEA warns of stoned rabbits if Utah passes medical marijuana [Washington Post]

by Mary Beth Quirk via Consumerist

Dish: Comcast Could Still Use Its Size To Block Streaming Content

(Kevin Burkett)

The FCC’s recently approved net neutrality rules will prohibit all Internet service providers from blocking any legal content from being sent or received by their users. But when an ISP also controls the nation’s largest pay-TV audience, perhaps it could use that leverage to prevent certain content from ever going online in the first place.

That’s the position of Dish Network, which recently launched its standalone Sling TV streaming (or over-the-top) service and which fears that Comcast — especially a Comcast that merges with Time Warner Cable — could make broadcasters offers they can’t refuse.

“Even if the net neutrality rules are upheld in court, there are innumerable ways that Comcast-Time Warner could sabotage over-the-top,” explained Jeff Blum, senior vice president and deputy general counsel of Dish. “And over-the-top is a reality. It’s something that is good for consumers.”

Comcast currently has around 22 million pay-TV and broadband subscribers, and that number will increase to more than 30 million if the TWC merger is approved. Only DirecTV, with around 20 million subscribers but no fixed broadband service to offer, comes close in audience size.

Blum contends that Comcast could cripple services like Sling or Sony’s upcoming over-the-top offering by giving all-or-nothing ultimatums to cable TV networks.

He gives the hypothetical example of Comcast negotiating a new contract with the Discovery Network and saying, “OK, Discovery, you want carriage on Comcast-Time Warner — our 30 million homes — we’ll give it to you, but you can’t grant the following over-the-top rights to Netflix or Sony or Dish.”

In a statement to the International Business Times, Comcast points out that it’s currently forbidden from making a deal like Blum describes because of conditions placed on Comcast’s 2011 acquisition of NBC. However, those conditions expire in 2018.

“Dish has long been one of our most vigorous competitors, and unlike us has a national footprint available in tens of millions of more homes than a combined Comcast-Time Warner Cable,” reads the Comcast statement. “Dish not wanting stronger competitors isn’t surprising and it isn’t new. Any issues regarding NBCUniversal programming and other video services, whether they be traditional or over the top are already amply covered by pre-existing FCC rules and deal conditions.”

But Blum believes that it’s Comcast — which faces virtually no competition for broadband in most of its markets — which is afraid of streaming offerings like Sling.

“Over-the-top services compete against Comcast-Time Warner,” he said. “They want people signing up for their Xfinity bundle, and they don’t want people signing up for the Sony over-the-top-service, or Sling TV or HBO Go. It’s a direct competitor.”

The Comcast-TWC merger is in the final stages of the regulatory review process. Decisions whether to approve, block, or place conditions on the deal should be coming from the FCC and Justice Dept. in the near future.

[via DSLreports.com]

by Chris Morran via Consumerist

Nabisco Confirms Cotton Candy Oreos Are Real, Vows To Stop Cookie Leaks

Nabisco, maker of Oreos, is unhappy with the mysterious Instagram user who has been leaking photos of their flavors that haven’t hit the market yet. While the company has confirmed that they will roll out cookies flavored to taste like cotton candy at some point in the future, they are unhappy that someone has been sneaking photos of upcoming products and putting them on Instagram. The mysterious cookie0man of Instagram is gone.

“It’s been brought to our attention that some of our top secret OREO flavors are leaking,” a spokesperson e-mailed Marketwatch. “As we get to the bottom of these cookie leaks, we can only say time will tell when our next delicious flavor will hit shelves.” Red Velvet Oreos may still be on shelves but were timed for Valentine’s Day. The S’Mores flavor, another possibility that was leaked, would make sense for summer.

We maintain that we would like to try Oreo-flavored cotton candy, since the other way around doesn’t sound very interesting.

Leaked photos show Oreo’s next cookie flavor [Marketwatch]

by Laura Northrup via Consumerist

CBS Reports That Lumber Liquidators Is Selling Formaldehyde-Laden Laminate Flooring

(jayRaz)

Lumber Liquidators is one of those stores that does exactly what it sounds like: they sell wood and other building supplies at a discount. A report that aired this weekend on the CBS program 60 Minutes shared some scary findings from independent lab tests performed on samples of flooring purchased from the chain. The company counters that these tests are inaccurate, and that the people behind these allegations aren’t out to protect consumers.

Lots of everyday objects give off formaldehyde, and it’s even the product of metabolic processes in our own bodies. Occasional exposure while dissecting a frog in school or getting your nails done isn’t a health concern, but prolonged exposure to a lot of formaldehyde can be dangerous. “I would say long-term exposure at that level would be risky because it would increase the risk for chronic respiratory irritation, change in a person’s lung function, increased risk of asthma,” one expert on environmental toxins interviewed by CBS news explained. While it wouldn’t necessarily affect everyone in a residence, children are more susceptible to problems than adults.

It’s the amount of formaldehyde that the flooring allegedly gives off that is alarming, the men campaigning against Lumber Liquidators told CBS. (Warning: auto-play video) In one set of tests, the lab simply assumed that their equipment was broken, since the formaldehyde levels were higher than their equipment could measure. Some samples emitted twenty times above the legal limit for formaldehyde in building materials in California.

It just so happens that the men leading this campaign against Lumber Liquidators are an environmental activist and a lawyer. They’re working on behalf of homeowners concerned about potentially toxic flooring, sure, but they also happen to have the financial backing of investors who believe the stock price for Lumber Liquidators is too high compared to the actual value of the company, and they’re shorting it. That means that people who are betting on the company to do worse are behind some of the current accusations against the company. “These attacks are driven by a small group of short-selling investors who are working together,” the company said in a statement.

However, there’s also the U.S. Department of Justice, which may be filing criminal charges against the company for selling tropical hardwoods that may have been harvested illegally.

Lumber Liquidators linked to health and safety violations [CBS News]

by Laura Northrup via Consumerist

Canadians Paying Tribute To Leonard Nimoy By “Spocking” Their Currency

Example of a Spocked bill. (Reddit)

The news of beloved actor Leonard Nimoy’s passing on Friday has saddened his fans over the last few days, but we’ve got to hand it to our neighbors in the wintry north for their unique way of paying tribute: Reviving a past trend known as “Spocking,” mourning Canadians have been doodling on their $5 bills, turning the image of Prime Minister Sir Wilfrid Laurier into that of the half Vulcan, half human Star Trek character.

Trekkies in Canada are flexing their artistic muscles with variations on the Spocking theme, which works best on older, cotton cloth bills — though some have succeeded in drawing his likeness on the newer polymer currency as well.

This outburst in affection for Nimoy was prompted by a Tweet from Canadian Design Resource, urging Canadians to Spock their bills:

"Spock" your $5 bills for Leonard Nimoy http://ift.tt/1N0s6nm

— Design Canada (@The_CDR) February 27, 2015

Canadians have been doing this since at least 2008, notes CNET, when the Facebook group “Spock Your Fives” promoted the practice.

It’s not illegal to change the bills into Spock as the denomination is still clearly visible — though PhotoShopping your own bills and trying to use them would be a big no-no — but the Bank of Canada said back in 2002 that it’s not a great idea.

“Writing on a bank note may interfere with the security features and reduces its lifespan,” the Bank of Canada said. “Markings on a note may also prevent it from being accepted in a transaction.”

Canadians ‘Spocking’ their currency in tribute to Leonard Nimoy [CNET]

by Mary Beth Quirk via Consumerist

Police: Man Tried To Pass Off Wooden Dummy As Real Person So He Could Use Carpool Lane

(NBC 4)

We all know how enticing that carpool lane can be — but when you’re driving solo, you just don’t belong there. Police in New York say one driver tried to get around the rules for high-occupancy vehicle lanes, as they’re also known, by setting up a wooden dummy as his passenger.

According to police in Long Island, a man allegedly used a wooden figure of a person, dressed in a hooded sweatshirt, so he could cruise along in the the Long Island Expressway’s HOV lane, reports NBC 4 (warning, link has video that autoplays).

And from what the officer on the scene says, it’s not like the dummy was fooling anyone.

“I was trying not to laugh at the guy because I thought it was quite silly,” the police officer said, nothing that at first, the silhouette was “realistic enough.”

As for the driver’s reason behind his stiff friend, he told the cop he had just started a new job and traveling in the HOV lane would let him get there a bit faster. He was subsequently issued summonses for speeding and occupancy violation.

NBC 4 spoke to the driver as he pulled up to his house that night after work — with the dummy still sitting inside. He reportedly said he’d been using his friend for months.

“He’s got a sister down in the basement and on special occasions, I bring her out and she wears a tutu,” he told the station.

Driver Used Wooden Passenger to Drive in HOV Lane Because “He Couldn’t Afford to Be Late to His New Job”: Police [NBC 4]

by Mary Beth Quirk via Consumerist