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Bad Credit is EVIL
Bad credit is one of the worst financial situations to be in. A
bad credit can affect you in a lot of ways. With a bad credit
you can have difficulty getting a loan. Anything like poor
financial skills or bankruptcy can lead to bad credit....
Consolidate A Credit Card To Reduce Your Debt
Strange though it may sound a credit card can be a useful tool
in controlling debt. The properly chosen credit card can, in
fact, be used to consolidate debt. There are several features to
look for though if you plan to use a credit card in this...
Home Equity Line of Credit - Finding The Best Home Equity Lender
Borrowing against the value of your home using a revolving credit account is known as a home equity line of credit. Lenders offer home equity lines of credit in several ways with either fixed or variable interest rates. Information on obtaining a...
Maxing Out on the Minimum: Don’t Get Trapped Making Minimum Credit Card Payments
It’s an easy trap to fall into: you get that pre-approved credit card offer in the mail, most likely with an appealing introductory interest rate for the first six months. You feel like you deserve a little extra spending money, and the minimum...
What Is A Credit Card Merchant Account: The Most Important Element Businesses Have To Know
With the proliferation of the Internet technology, everything
revolves in a fast digital world of information technology, and
credit cards had continuously dominated the scene with
tremendous rate.
Today, credit cards had already brought...
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Establish Or Rebuild Your Credit With Secured Credit Card
We all know how important good credit is in our lives. Today,
credit is no longer a luxury but a necessity. Credit makes it
possible for us to buy needed items, without paying for them at
the time of the purchase. Without a good credit rating, it is
very difficult for us to fulfill our dreams of buying a car,
buying a house, obtaining credit cards, enjoying a lifestyle
filled with fine clothes, rich foods and exotic vacations.
You can establish a good credit record even if you have no
reported credit history. A good credit rating indicates to
others that you manage your debts responsibly and are likely to
pay back your debts.
When you apply for any type of credit or financing, credit
grantors check your credit report to determine whether you are a
good credit risk. Based on the information contained in your
report, a creditor may decide to grant credit to you or turn you
down.
Credit reporting agencies, also known as credit bureaus, compile
and sell your credit report to businesses. Credit bureaus are
for-profit corporations. They collect information on credit
users and make them available to their subscribers - credit card
companies, banks, retailers, and other lenders.
If you ever applied for credit, you probably have a credit file
with one or all of the three major credit bureaus. This is
called a credit report. Your credit report shows how you manage
your credit accounts. It contains a history of everything you
are doing with your credit now, and everything you have done in
the past.
If you've never applied for credit, you may not have a credit
report. Without a credit report, lenders have no way of judging
if you are a good credit risk.
As a first step to building good credit, get a copy of your
credit report. You can get a free copy if you were denied credit
within the past 60 days because of information contained in your
report. However, if you simply wish to check your record, the
credit bureau will charge a fee for giving you information.
To get your report, simply contact the credit bureau that keeps
your report and request it. In your notice of denial you'll see
the name and contact information of the credit bureau that keeps
your report. Your request should include all identifying
information, such as, your name, address, Social Security
Number, date of birth and spouse's name (if applicable). Be sure
to sign the letter.
Once you get your report, study it. Look over it carefully for
negative accounts and inaccuracies, particularly older accounts.
Once you have reviewed your report, begin disputing the negative
items on
your report right away. Correct and update inaccurate
information on your credit report.
All the information you need to dispute or amend an error is
included in the information package you receive from the credit
bureau.
If there is any information in that report that is not true, or
if you want to dispute any information on it, don't hesitate to
do so. By law the credit bureau must investigate.
Keep copies of everything you send and send the letters
certified mail with return receipt requested.
The credit bureau must respond to your dispute within "a
reasonable amount of time." You should receive a written report
on the results of the investigation.
If a reinvestigation does not resolve your dispute, ask the
credit bureau to include your statement, explaining your version
of the dispute. The law allows you to file a Consumer Statement
of 100 words or less. This will be added to your report.
Also, you have the right to request an updated copy of your
report be sent to anyone who has checked your file within the
past six months (or two years if it involves employment).
Once you've removed negative entries, it's time to rebuild good
credit record. Secured credit cards can be an effective way to
establish or rebuild your credit history. They look and are used
just like any other credit card.
A secured credit card requires you to open and maintain a
savings account as security against default. But it can be a
good deal because it offers you the convinience of having a
credit card while you work on building your credit. No
withdrawals can be made from the savings account securing the
secured card while the secured credit account is open.
Your credit line is a percentage of your deposit, typically 50
to 100 percent. Most issuing banks will pay interest on your
deposit. Before you apply for a secured credit card, make sure
the issuer reports to a credit bureau. If your card issuer does
not report to a credit bureau, the secured card won't help you
build a credit history.
If they do, and if you mainatain a good account your good credit
rating will be recorded on your report. When you apply for
credit in the future, your chances of being approved will be
much better.
Once you have established your credit you will have access to
the financial safety net that good credit provides.
About the author:
Conleth C Onu is the author of "How To Establish Or Re-Establish
Good Credit." For more information, visit his websites:
http://www.establishgoodcredit.com and
http://www.conlethonupublishing.com
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
| Credit.com offers a variety of credit related products and services including credit reports and credit scores, credit cards, car loans, home loan and ... |
| www.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 ... |
| www.ftc.gov |
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| Federal Trade Commission - Consumer Credit Center |
| Features an assortment of helpful articles related to credit issues. |
| www.ftc.gov |
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| AnnualCreditReport |
| 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 |
| Our mission is simple: To offer education on the wise use of credit. ... SPRINGBOARD has been approved to provide credit counseling services and issue ... |
| www.credit.org |
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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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| Credit Suisse Global |
| Credit Suisse Group is an international financial services group. - Shares part of SMI. |
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| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
| www.experian.com |
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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. |
| 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 ... |
| www.nfcc.org |
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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! |
| www.freecreditreport.com |
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| Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
| www.moneysupermarket.com |
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| Ford Credit - Auto financing for Ford, Lincoln and Mercury cars ... |
| Ford Credit provides auto financing to finance a lease or purchase a car or truck through Ford, Lincoln or Mercury dealerships. |
| www.fordcredit.com |
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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, ... |
| www.zug.com |
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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. |
| www.creditmag.com |
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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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