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Credit Card Companies Feeling The Heat - says Moneynet
Credit card companies are losing around £2 - £3 billion a year through offering consumers 0 % deals on balance transfers and purchases.
While so called 'rate tarts' have enjoyed the benefits of switching debt between credit card providers - at...
Credit cards
If gold medals were awarded for marketing consistency, the credit card industry would be the Sarah Hughes of the business world. Major players Visa and MasterCard, who have maintained their steady rates of spending and commitment to their...
Credit Repair and Avoiding Court
If you ever entered a courtroom, you know that the stress elevates, even if you are in the room for someone else. Courts are an automatic source for lifting stress. Moreover, to avoid the courts means we have to abide by laws and pay our debts. ...
Knocking Down the Debts with Credit Repair
If you take a hard look at your situation and analyze your debts
carefully, you might just find a solution to knocking down the
debts. Debts are bills we owe to creditors, someone or source
that has extended us a line of credit believing that we...
What Sets a Student Credit Card Apart?
Today, most parents contend that it is okay to let college
students obtain their very own credit card. Not only because
they want to let their kids manage their finances alone but also
because having credit cards or a credit history for that...
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The Ins And Outs Of Bad Credit Home Loans
Owning a home is part of the American dream. It's also the biggest purchase that most of us will ever make, and because of that, almost everyone will be borrowing money to do it. Unfortunately, for many people that means a bad credit home loan, and that might be hard to get.
It's simple. Imagine going to a bank and asking for $200,000. And then imagine that you have bad credit. You're always behind on your bills, your credit cards are stretched to the limit - or you have no credit cards - and you have no collateral. Now try and imagine what the bank will say.
Having a home is a big part of the American dream, but having bad credit is a big part of the American reality. There are a lot of people with bad credit who want to buy homes, but how can they convince a bank or other lender to give them money if it's clear they've never been able to pay their bills on time?
The first thing to do if you're contemplating buying a home and you have bad credit is to try and establish good credit. Make sure you pay your bills promptly. If you don't have a major credit card, get one, use it and pay the bills promptly. You're trying to convince a lender that you can be trusted to pay back money you've borrowed. Next, you want to carefully check your credit score.
Your credit score is a history of all of your financial activity as it pertains to credit; in other words, how much and how often you have borrowed and how promptly you've paid it back. Credit scores are generated by three companies:Experian; Equifax and TransUnion, and you're allowed one free credit report a year from each of these companies. If you're thinking of borrowing for a house, check your credit report; it's entirely possible that there are mistakes that could lower your score.
Now
assume that you're on your way to establishing credit (but you're not quite there yet) and your credit report is accurate. The next step is to find someone who is willing to lend you money, and that is probably the easiest step of all. With so many Americans have bad credit, mortgage companies have responded by loosening restrictions on loans and almost all of them have special bad credit programs. Of course, these people aren't giving the money away. You'll still have to go through the application process and there are some criteria - loan-to-value ratio, debt-to-income ratio, and monthly income - that they will use to determine whether or not you are a good risk. However, don't forget that if you have bad credit and a mortgage company is willing to talk to you, they want your business, so don't be afraid to negotiate.
But what if the private mortgage companies and the banks turn you down? Are you out of options? Not at all. There are a lot of different ways you can get money for a house if you have bad credit. A good place to check is the Federal Housing Authority (FHA.) FHA loans have very generous conditions (the down payment can be as low as 3% or less), they are willing to help people with bad credit and they have various programs that offer excellent deals to professional people - police officers, teachers - to encourage them to become homeowners in the community where they work. Another good choice is Fannie Mae. This private company can make home loans easily available - even if you have bad credit - through their Expanded Approval Program.
Getting a bad credit home loan can take extra time, but it's worth the effort. Interest rates are low and there are a lot of options. Don't delay your dream. About the Author
For Online Loans
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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 ... |
www.myfico.com |
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Credit Suisse Global |
Credit Suisse Group is an international financial services group. - Shares part of SMI. |
www.credit-suisse.com |
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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 credit cards | apply for a credit card | 0% balance ... |
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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