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Correct Credit Card Use
Having a credit card has become the norm in today's society. If you have a flippant attitude and don't use your credit card in the correct manner then you could unwittingly become deep in debt without realizing it or the implications. Looking at...
Credit Card Comparison - Understanding
Making comparisons for a credit card can save a lot of money on
interest and fees. Doing a research will help in finding a sight
one that suits your needs. Let us help you in considering some
points before you settle for a card.
_ The first...
Credit Card Reward Programs: Getting The Most Out Of Your Credit Cards
Credit cards can earn you cash, airline miles, or rewards. To
get the most out of your credit card company, you have to choose
the right program and use your card often.
Pick The Right Program
Do you want a free trip to Hawaii or cash at...
Credit Score An Introduction
There's a lot of confusing information about credit scores out there. There are people out there who believe that they don't have a credit score and many who think that their credit score doesn't count for much. Your credit score can spoil your...
No Credit Check Personal Loans - If You Need Fast Cash, A Payday Loan Online Is A Very Quick Process
Online payday loans can get you fast cash through a very quick process. By processing applications online and depositing money into your checking account through direct deposit, you can have your cash advance within hours.
Instant Approval...
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Credit Repair Services vs. 'Do-It-Yourself' Credit Repair
Millions of Americans suffer because of bad credit these days, and almost all of these people turn to the Internet for help. In the past 5 years hundreds of ‘internet-based’ credit repair services have sprung up , preying on consumers in need of real help. Most of these companies have built less than desirable reputations by over-promising and under-delivering; all the while taking millions of dollars from those in need.
For this week’s article I am going to compare ‘internet based’ credit repair services to repairing your credit yourself using a system like Loan Saver PRO: for Consumers; you can learn more about their system here - http://www.loansaverpro.com/index-1.html. Hopefully I will open your eyes to the fact that you can do everything they can do, for far less money, and achieve even better results in far less time.
Cost Comparison
Credit Repair Service – Almost every credit repair company found on the internet charges a set-up fee of at least $60 and an ongoing monthly fee of at least $49. They initially tell you that your credit repair work will probably take around 3 months to complete. In reality, your credit repair work ends up taking close to a year or more and now you’ve paid them at least $600. The goal of most credit repair services is to take their time repairing your credit so they can keep debiting your bank account.
Do-It Yourself Credit Repair – There are several ‘do-it-yourself’ credit repair systems found on the internet. Most of these systems cost no more than $40, which is less than the set-up fees for most credit repair services, plus there is no monthly fee. Some of these products are good and some are bad—whichever one you choose, don’t use a ‘do-it-yourself’ system that uses ’pre-made’ letters to launch disputes; I’ll explain this in more detail below.
Dispute Letters
Credit Repair Service – Almost every ‘internet based’ credit repair service, and some ‘do-it-yourself’ credit repair systems, use ‘pre-made’ attorney letters to dispute information on your credit report. Using these types of letters often raises major red flags at the credit bureau level and may result in your dispute request being denied. How do you know if your dispute has been denied? You’ll know when you receive a ‘Will Not Take Action’ letter from the credit bureaus.
Do-It Yourself Credit Repair – There are two primary ways you can dispute negative items on your credit report. One way is to write several original letters to the credit bureaus, which can take
several hours to complete and adds weeks onto the credit repair process.
The second and easiest way to dispute negative items on your credit report, is to launch your disputes online. The credit repair system that I helped develop, Loan Saver PRO, shows you step-by-step how to order the right credit reports (yes, there are some wrong ones), launch effective online disputes, and manage the whole credit repair process.
Results
Credit Repair Service – If it sounds too good to be true, it probably is. To get your scores into the 800’s would take over 10 years of perfect credit, so don’t believe it. ‘Internet based’ credit repair services will also try to tell you where your score will be in 30-60 days and that’s impossible to predict. Also, any credit repair service that promotes pipe dreams of a new car and a new house is not to be trusted; unless of course they plan on loaning you the down payment.
Do-It Yourself Credit Repair – A reputable ‘do-it-yourself’ credit repair system should never promise a certain score. However, I will promise that if you decide to use a reputable ‘do-it-yourself’ credit repair system, and are patient, your scores will increase significantly. On average, I have seen the Loan Saver PRO credit repair system raise scores into the high 600’s and low 700’s. With those scores, you can likely get any loan or credit card you desire, and at the best rates possible.
Again, I hope the above information will help you make a better decision when deciding what to do regarding your credit situation. If you still decide to work with an ‘internet based’ credit repair service, make sure you do your research, and don’t say I didn’t warn you.
To help get you started with the ‘do-it-yourself’ credit repair process, my company Loan Savers LLC, offers a free guide that will help you order the right credit reports needed to repair your credit. Visit http://www.loansaverpro.com/index-1.htm and submit your email address to receive a free Insider’s Guide to Ordering Your Credit Reports.
About the Author
Todd Disraeli has been in the mortgage and credit repair business for over 10 years. Todd's primary expertise is consulting with mortgage companies and helping them turn declined loans into approved loans. Todd uses his extensive knowledge and experience to help mortgage companies, and their loan officer’s, work smarter and not harder.
Although he might seem controversial at times, he speaks the truth whether the credit bureaus like it or not.
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| Equifax Personal Solutions: Credit Reports, Credit Scores ... |
| National consumer credit reporting company that offers credit reports, FICO(R) credit scores and identity theft protection products to consumers and small ... |
| www.equifax.com |
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| The FTC's web site on Credit |
| Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance ... |
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| Federal Trade Commission - Consumer Credit Center |
| Features an assortment of helpful articles related to credit issues. |
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| Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. |
| www.annualcreditreport.com |
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| Springboard - Non-Profit Consumer Credit Management |
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| myFICO - FICO Credit Scores, Online Credit Reports and Identity ... |
| myFICO.com: Get your Free credit report and Free credit score with a 30-day trial of Score Watch. All three FICO Scores and Credit Reports Available now ... |
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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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| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
| www.ncua.gov |
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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" ... |
| en.wikipedia.org |
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| Credit (finance) - Wikipedia, the free encyclopedia |
| Any movement of financial capital is normally quite dependent on credit, ... Sometimes if a person has financial instability or difficulty, credit is not ... |
| en.wikipedia.org |
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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 ... |
| FreeCreditReport.com: Free credit reports and credit scores from Experian. Get your free credit report and credit score now. It's free, fast, and easy! |
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| Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
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| The Credit Card Prank |
| In my lifetime, I have made nearly 15000 credit card transactions. ... Credit card signatures are a useless mechanism designed to make you feel safe, ... |
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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. |
| www.cuna.org |
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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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