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Avoiding Declines by Repairing Credit
Sorry you are declined...Have you ever heard this before when
you went to apply for a loan or a credit card? If you have, this
means that your credit files has some negative reports and it is
time to clean up your act. Credit files are a report...
Building Credit Ideas
There are several ways that we can build credit. If you are
tired of collectors hounding you, or if you are frustrated that
no one will loan you money because you never had credit, it is
time to learn how to build your credit. First, and...
Credit Repair Collection Agency
Credit repair and collection agencies go hand in hand since one
is out to get the other. In other words, we sometimes run from
our debts taking advantage of a kind gesture. Collection
agencies are not as kind as the lenders so therefore...
Credit Scoring: What it is, and How It Affects You
If you have applied for a mortgage in the past five years, you’ve probably heard of credit scoring by now. Perhaps you were told that your credit scoring was wonderful, or needed work. Or maybe your mortgage would have been lowered by several...
No Fuss Credit Card Application
Today's consumers want the least possible hassle, processing
time and related fees when they make credit card applications.
One question that immediately comes to mind is acceptance.
Credit card applicants generally should not worry if they...
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The Effects Of Multiple Credit Inquiries On Your Scores
Credit inquiries impact credit scores negatively because
statistical studies show that multiple inquiries are associated
with high risk of default.
Distressed borrowers often contact many lenders hoping to find
one who will approve them. On the other hand, multiple inquiries
can also result from applicants shopping for the best deal.
To avoid penalizing loan "shoppers," credit ratings ignore
inquiries that occur within 30 days of a score date.
Suppose, for example, I shop a lender on June 30 and the lender
has my credit scored that day.
Even if I had shopped 50 other lenders in June and they had all
checked my credit, none of those inquiries would affect my
credit score on June 30.
Inquiries from May and back 11 months would, however, be counted
on June 30.
To avoid biasing the credit score from earlier shopping
episodes, the scorers treat all inquiries
that occur within any
14-day period as a single inquiry.
If you shopped 50 lenders during June 1-14, they would count as
one inquiry. If you spread them over June 1-28, they would count
as two inquiries.
You will damage your credit if you spread your loan shopping
over many months.
But, because the market can change from day to day, it makes
little sense to do this in any case.
Circumstances can cause a consumer to shop, drop out of the
market, and return later when conditions are more favorable.
You minimize the adverse effect by concentrating each shopping
episode within 14 days or less.
About the author:
Gus Skarlis is one of the leading loan officers because of his
expert knowledge in loan placement as well as credit issues. To
contact him call 702-491-7251 or visit his very informative site
at: http://www.GusSkarlis.com
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| The FTC's web site on Credit |
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| Federal Trade Commission - Consumer Credit Center |
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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. |
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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. |
| 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 |
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| 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 ... |
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| The Credit Card Prank |
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| 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. |
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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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