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Finding the most desirable credit card deal
With increasing competition, credit card companies have been trying to differentiate their products and come up with the best credit card deals. For consumers this often means competitive interest rates and a great variety to choose from when it...
How Credit Repair Saved My Life
Once upon a time in my life, I was dead. Dead not in the physical sense mind you, but the consumer sense. You see, I had bad credit. Actually, bad credit would have been an upgrade. I even got a denied letter for a debit card. That's right, the...
New Law Provides Free Annual Credit Report
As of Thursday, December 1, 2004, one-third of Americans will be able to access their credit reports from all three main agencies for free. Passed in late 2003, the Fair & Accurate Credit Transactions Act creates a central source consumers can...
Simple Credit Cards - What you should know...
A credit card is primarily a convenient payment mechanism. It is not intended to be a long term credit facility. Should you require long-term financing, you may wish to consider alternative financial products.
5 Questions you should ask yourself-...
Tips For Getting Your First Credit Card
Most of us get a credit card on our name when we go to college or when we are in our senior years of high school and all of us stumble into the same types of difficulties when it comes to finding an issuer and managing the credit card. Most banks...
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How to Improve your Credit Score Quickly
If you are like lots of people these days, you are thinking of shopping for a new home or new vehicle. Why? Because interest rates are still the lowest they have been in 40 years, and now is a better time than any to get financing. I just bought an RV myself, and I remember the nervous feeling while they pulled my credit score at the dealer. 668 *whew*. Not bad as it turns out.
Many people don’t plan ahead when shopping for a loan to get the best credit possible. A lower credit score (one below 620 or even 650) can mean the highest interest rate and highest monthly payments. A score of above 720 means the lowest rates possible. Having the best credit score you can have means saving thousands of dollars over the life of your loan. How can you raise your credit score in a quick period of time, and save?
There are several ways to improve your credit score in a week or less. One is called the "rapid rescore" process, offered through your mortgage officer only, by a company called Access. With this system, you must do legwork to change your credit report contents yourself, within a week. So for instance, you might have to pay off certain collections or liens within a week to change your credit report contents. The rapid rescore process gives your credit score a second look at the end of a week so any improvements will show on your second credit score. The drawbacks of this process if you can only do it through a mortgage broker, and also, you must have something that you can improve quickly on your report such as paying off a collection or a card balance.
Another way to improve
your credit score quickly is to use techniques to temporarily "bump up" your credit score. I talk about these in my ebook "Improve Your Credit Score In 24 Hours". I also provide special phone and fax number info. Depending on which creditors and credit bureaus you use you can many times cause your credit a temporary "boost". Techniques like this are a great "survival skill" in your credit career.
For "do-it-yourself" credit repair, here are some tips: first, pay off your collections. Even the smallest collection item like a $40 parking ticket can bring your score up 15-30 points. Get a letter from your creditor that says "collection paid" or "collection deleted". Fax the letters to the bureaus if possible, talking to them on the phone and coordinating a quick change in your scores. Second, you should have 3 unsecured lines of credit but no more, so if you have extra credit cards you’ve been meaning to close, close them. You’d be surprised how these can boost your score as well.
People are getting more financial savvy these days with gurus like Suze Orman telling folks about their FICO score (another term for credit score). I think it is good because having credit knowledge before you make large purchases like for homes or cars can save you thousands of dollars and put more money where it belongs, your investment future.
About the Author
L. K. Hughes is the author of "Improve Your Credit Score In 24 Hours".
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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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| 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 |
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| The National Foundation for Credit Counseling |
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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 ... |
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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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