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7 Surefire Ways To Repair Bad Credit
Do you have a poor credit rating? If so, you are one of tens of thousands of Americans with the same problem. In fact, it seems that this has become a national ‘disease.’ And just what do people need that have a disease? They need a cure. Here...
ACH or Credit Cards
Most businesses accept credit cards and consider the process
fees a cost of doing business. However by implementing an ACH
payment system you can realize dramatic savings and increase
sales.
ACH refers to the Automated Clearing House and...
Common Credit Score Myths
A lot of credit score myths about fico score ratings get spread around and some of them are just outdated information. Sometimes even lenders can give you the wrong advice and it can get confusing. But the bottom line is bad information can cost you...
WARNING Credit Repair
The world is swarming with predators ready to tell you that they can repair your credit. Some of the sources say they can repair your credit in as little as three minutes, while others tell you as little as 25 days.
If you are searching for a...
Why Does A Credit Card Expire And How Do You Renew It?
Besides the long string of numbers that identify your account, there is a short little series of numbers that makes up your card's expiration date. Most of us don't even pay any attention to that date, but you can bet that the credit card approval...
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Are You A Credit Risk? No? Are You Sure?
You may not find out how bad your credit really is until you apply for a mortgage. Then you will quickly realize that the low interest rates everybody raves about these days, the rates that are a big part of the rising prices of real estate across America, don't apply to everyone. To be specific, they don't apply to you! If you have bad credit, you are not going to receive the same low interest rates on your home loan that your neighbor with good credit will.
Why not, you may ask. Well, here's the thing. If your credit score is poor, banks and other financial institutions consider you to be a risky business partner. In order to lend you money, they have to insure themselves against the risk that you may default on payments. They do this by offering you a higher interest rate so their end of the deal looks a bit sweeter. For you, though, it means higher monthly payments and that you can afford to borrow less money than if your credit was better.
If you don't even know if you're considered a credit risk or not, don't you think it's time you found out? This is one of the smartest moves you can make, business wise, as it affects not only your mortgage but the interest rates you get on your credit cards, car payments and virtually every financial agreement you enter into.
Checking your
credit score
When banks and others want to ascertain what kind of credit risk you may pose, they will consult your FICO score before doing anything. The FICO is like a report card of your credit. Your FICO score is a three digit number ranging from 300-850. You actually have three separate FICO scores, one for each credit bureau - Equifax, Experian, and TransUnion. These may not show the same score, since not every creditor reports to all three credit bureaus.
In order to make sure you see the same thing that your eventual creditors are seeing, order all three of your fico scores. Study them carefully. You look at the total score, naturally, but you also want to scrutinize the details carefully. Maybe that rent check last year that you sent in one week too late was never registered properly. This will definitely affect your overall score.
If you do find any errors in the reports, make sure to contact those responsible for that specific record and ask them to correct the entry. If you are lucky, a couple of phone calls will make a real difference in your credit score!
About the Author
Gus Benson runs http://www.credit-risk.info, a website dedicated to information on credit, bad credit and credit risk. Click to visit his site: Credit Risk
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| The FTC's web site on Credit |
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| AnnualCreditReport |
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| Springboard - Non-Profit Consumer Credit Management |
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| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
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| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
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| Credit - Wikipedia, the free encyclopedia |
| Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
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| Credit (finance) - Wikipedia, the free encyclopedia |
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| The National Foundation for Credit Counseling |
| DebtAdvice.org is a service provided by the Members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit ... |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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| The Credit Card Prank |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
| Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
| credit.about.com |
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