by William Lingle
As you begin repairing your credit you will be able to monitor your credit score at periodic intervals.
This will let you see if the changes you are making are having a positive effect. This can be a great
benefit as you will be able to tell immediately what is working and what isnt. Some of the services
even offer tools to let you see what changes will benefit you the most, such as paying off a certain
credit card, before you even make such a change. This can be very beneficial in determining your
strategy to repairing your credit.
By combining your credit reports from all 3 credit bureaus, you will easily be able to see the
differences in your credit reports between all credit bureaus. Since each credit bureau maintains
its own consumer credit database, don't be surprised to find differences on each one of your
credit reports. This is why its essential to get a copy of all 3 credit reports because you wont know
which credit agency in advance that a lender might check your credit with.
Alerting is a feature that allows you to receive email notices if any major changes happen to your
credit report. Most services allow you to monitor changes from all 3 credit bureaus. This can be an
ideal way to detect Identity Theft. Also, if you are in the process of getting a home loan or auto loan,
you will want to know ahead of time if something changes in your credit report that may hinder your
approval process.
Many of the credit monitoring services even offer Identity Theft insurance. By being enrolled in their
service, you entitled up to $25,000 in damages if you are a victim of Identity Theft.
Credit Monitoring as a service then allows you access to your credit report at all 3 credit bureaus,
and the ability to see the bureaus own credit score or your FICO score. Alerts can be setup to notify
you of significant changes to your credit that could be Identity Theft.
Check out my 3 bureau credit monitoring review page for a breakdown of the most popular
companies offering credit monitoring services.
William Lingle is the owner/operator of Clever Credit Repair - http://www.clevercreditrepair.com.
Please view my site to view a unique approach of learning credit repair. We will arm you with the
best quality information, articles and resources to repair your own credit as good or better than
any professional service can offer.
Monday, December 31, 2007
Credit Monitoring Services - Great Tool for Credit Repair
Credit Repair Scams: The Warning Signs
by sas_upena1
"We can erase your bad credit -- 100% guaranteed."
"Create a new credit identity -- legally."
"We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!"
Do yourself a favor and save some money, too. Don't believe these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.
This article explains how you can improve your creditworthiness but you have to remember that it can take time. If you stick to a plan you can repair your credit and get your life back to normal. Take it one step at a time and make sure that you are not planning to do anything illegal.
The Scam
Everyday, there are companies nationwide that appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they cant deliver. After you pay them hundreds or thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money.
The Warning Signs
If you decide to respond to a credit repair offer, look for these tell-tale signs of a scam:
companies that want you to pay for credit repair services before they provide any services.- companies that do not tell you your legal rights and what you can do for yourself for free.
- companies that recommend that you not contact a credit reporting company directly.
- companies that suggest that you try to invent a "new" credit identity -- and then, a new credit report -- by applying for an Employer Identification Number to use instead of your Social Security number.
- companies that advise you to dispute all information in your credit report or take any action that seems illegal, like creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.
You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information. Its a federal crime to lie on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.
Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.
Make big affiliate money with a credit card site. Sign up for free at Credit Card RepairSubmitted by: Super Article Submitter
Sunday, September 16, 2007
Apply For a Credit Card
What you need to know before you apply for a credit card.
Many times people will get credit card offers in the mail on a daily basis. many times people will not even read all of the terms and conditions not knowing that they are getting themselves into a 23% interest rate with a 250 annual fee.
Do your research before you seek and apply or send in that credit card offer.
There is many great cards you can apply for you just need to know what you will need and use that card for
Once you get your credit card you will want to pay off the monthly balance in full. This is good for two reasons, one being that it will keep your interest rate down and will show that you can pay on time. Second, since you are making payments on time and paying off full balance your credit card supplier will increase your balance.
remember to always be smart when you apply for a credit card.
Obtain a loan even with bad credit
Many times people will get credit card offers in the mail on a daily basis. many times people will not even read all of the terms and conditions not knowing that they are getting themselves into a 23% interest rate with a 250 annual fee.
Do your research before you seek and apply or send in that credit card offer.
There is many great cards you can apply for you just need to know what you will need and use that card for
Once you get your credit card you will want to pay off the monthly balance in full. This is good for two reasons, one being that it will keep your interest rate down and will show that you can pay on time. Second, since you are making payments on time and paying off full balance your credit card supplier will increase your balance.
remember to always be smart when you apply for a credit card.
Obtain a loan even with bad credit
Monday, September 10, 2007
Take Your Time to Build Your Credit
Build your credit slowly and be cautious...
This is a common problem with the young adults today in life.
many adult are 18,going to college living the night life and working part time.
it seems as if you just graduate from high school and the credit card offers start pouring in. So many young adults think "oh only one credit card is fine" and do not realize the effects of these hefty credit tickets.
With so many credit cards having such high interest rates due to no previous credit history one single missed payment can spell disater.
instead you should be highly advised to take your time to "build your credit" and be very cautious of annual fees and high interest rates.
Talk to some one with experiance in the finacial field not all offers can be as great as they seem.
However,
If you do recieve a credit card pay your bill on time and pay more then the min. payment. by doing this it keeps your credit in great standing and over time builds your credit slowly, the right way.
Never max out your credit card and carry over a monthly balance from month to month.
This does no look very well to other potential lenders and can lead to future turndowns.
First step should be to open a savings and checking account and begin to build your savings account just a little over three months and then try to opt in for a low limit credit card through your bank. Many times your existing back can work out a lower interest rate which can prove to be very much a plus feature to have.
This is a common problem with the young adults today in life.
many adult are 18,going to college living the night life and working part time.
it seems as if you just graduate from high school and the credit card offers start pouring in. So many young adults think "oh only one credit card is fine" and do not realize the effects of these hefty credit tickets.
With so many credit cards having such high interest rates due to no previous credit history one single missed payment can spell disater.
instead you should be highly advised to take your time to "build your credit" and be very cautious of annual fees and high interest rates.
Talk to some one with experiance in the finacial field not all offers can be as great as they seem.
However,
If you do recieve a credit card pay your bill on time and pay more then the min. payment. by doing this it keeps your credit in great standing and over time builds your credit slowly, the right way.
Never max out your credit card and carry over a monthly balance from month to month.
This does no look very well to other potential lenders and can lead to future turndowns.
First step should be to open a savings and checking account and begin to build your savings account just a little over three months and then try to opt in for a low limit credit card through your bank. Many times your existing back can work out a lower interest rate which can prove to be very much a plus feature to have.
Sunday, August 26, 2007
How Can I Build Credit
there are many ways that you can build credit,
One would be to start/open a bank account and build your credit through your checking account for at least 6 months,
After this has been completed you should ask for a student credit card .
these will come with a credit line of 300 and you should build from there
this is just one trick you can take to build fast credit
One would be to start/open a bank account and build your credit through your checking account for at least 6 months,
After this has been completed you should ask for a student credit card .
these will come with a credit line of 300 and you should build from there
this is just one trick you can take to build fast credit
Cash Rebates With Credit Cards
Credit Cards With Cash Rebate
Credit cards with cash rebate incentives give you cash rewards each and every time you make a purchase with your credit card. Although there are many types of reward credit cards out there, more and more companies are leaning towards cash back incentives, as most people prefer to receive cash back over any other type of reward.
For many, getting cash back is far preferred over air miles, items, or any other reward. If you like to use your credit card often, then you’ll find that cash rebate credit cards will give you a lot of money in return.
Normally, these types of credit cards entail higher fees and APR. You don’t want to carry a high balance on these cards at any time, as it normally ends up very costly. If you can off your balance at the end of the month, then your APR won’t affect you. Paying off your bill will also allow you to take full advantage of the cash rebate reward.
The percentage of cash back will vary, although most normally have 1%, with 5% being applied with certain purchases. For every purchase you make using your cash rebate credit card, you’ll get a small amount of cash back. Using your credit card on a frequent basis will give you a lot of cash back at the end of the year.
If you make big purchases, you can get a lot of cash back by using your credit card, although some may have a limit on just how much of a rebate you get back. If you plan to purchase large items such as furniture, you should check into your cash rebate credit card and find out what the rebate is on these types of purchases. The better rebate cards will normally send a lot of rebate cash your way just for purchasing some of the larger items.
Before you get a cash rebate credit card, you should always find out how much of a reward you will be getting with each purchase, and what the limit may be. Once you have reached the limit, some banks will either send you a check, deposit the reward into your bank account, or simply add the reward to your credit card. All three are wise options, although most prefer to have the money added to their bank account - so it can help draw some interest.
If you research the rebate card and find out what other features are included, you’ll normally come out a winner. Make sure you inquire about the credit limit, fees, and other things that you feel you should find out. Once you have researched and found out what you need to know - you can get a cash rebate credit card and begin living life knowing you will be getting cash back for just about anything you purchase.
Credit cards with cash rebate incentives give you cash rewards each and every time you make a purchase with your credit card. Although there are many types of reward credit cards out there, more and more companies are leaning towards cash back incentives, as most people prefer to receive cash back over any other type of reward.
For many, getting cash back is far preferred over air miles, items, or any other reward. If you like to use your credit card often, then you’ll find that cash rebate credit cards will give you a lot of money in return.
Normally, these types of credit cards entail higher fees and APR. You don’t want to carry a high balance on these cards at any time, as it normally ends up very costly. If you can off your balance at the end of the month, then your APR won’t affect you. Paying off your bill will also allow you to take full advantage of the cash rebate reward.
The percentage of cash back will vary, although most normally have 1%, with 5% being applied with certain purchases. For every purchase you make using your cash rebate credit card, you’ll get a small amount of cash back. Using your credit card on a frequent basis will give you a lot of cash back at the end of the year.
If you make big purchases, you can get a lot of cash back by using your credit card, although some may have a limit on just how much of a rebate you get back. If you plan to purchase large items such as furniture, you should check into your cash rebate credit card and find out what the rebate is on these types of purchases. The better rebate cards will normally send a lot of rebate cash your way just for purchasing some of the larger items.
Before you get a cash rebate credit card, you should always find out how much of a reward you will be getting with each purchase, and what the limit may be. Once you have reached the limit, some banks will either send you a check, deposit the reward into your bank account, or simply add the reward to your credit card. All three are wise options, although most prefer to have the money added to their bank account - so it can help draw some interest.
If you research the rebate card and find out what other features are included, you’ll normally come out a winner. Make sure you inquire about the credit limit, fees, and other things that you feel you should find out. Once you have researched and found out what you need to know - you can get a cash rebate credit card and begin living life knowing you will be getting cash back for just about anything you purchase.
Tuesday, August 21, 2007
The high price of credit cards
The high price of credit cards
The price of credit cards.
Do you know every thing about your credit card?
Even though some people choose to rush into getting a credit card, they generally do so without being knowledgeable of the high cost they could pose. So many credit cards out there come with hidden fees and charges, and you should always be conscious of this before you apply. In many cases, these fees and charges won’t get seen by the user until it is way too late.
Credit card customers who are not conscious of any hidden costs could easily end up paying perhaps thousands of dollars at the end of the year - and not even grasp it. If you have a reward credit card, your rewards could easily be ruined by these hidden costs. Even though some credit card users may comprehend it, there are many out there who are not aware of these fees at all.
One of the first factors for concealed costs is found in the grace period. The grace period is the extra time you have to pay your bill without having added fees to your statement. although this can be fantastic for paying your bill, it can quickly lead to a downslide if you let it. To prevent any type of costs or hidden charges, you should pay your bill as soon as it comes. This way, you won’t have to stress about your grace period or the interest that can accumulate from letting your bill get later and later which is never good.
The late charge is another factor with credit cards that is more times then not overlooked or brushed aside by credit card customers. Late charges are frequent with credit cards, even though their potential for costs is often over seen. Some people decide to pay it and be done with it, unconscious of the fact that these fees can indeed add up in a very short period of time. One thing to do to be on the secure side, you should always recognize what the late fees are and how quick they can add up.
The simplest way to prevent any type of hidden charges or costs is to pay your bill on time - as soon as your statement arrives in the mail. You must also pay more than the minimum, by doing this, this helps to pay your bill off much quicker and guarantee that you pay the bill and not just paying the interest month after month. Paying your bill late is never a good idea, as it can easily demolish your credit report and score. If you time and time again keep making late payments, your company or bank can escalate your interest rates.
I will leave you with this no matter what you do, you should continuously pay your credit card bill on time. Hidden charges and costs are out there and every where - it’s up to you to shun them. Credit card companies and banks will never tell you what the hidden fees are, unless you ask them directly and upfront. To defend yourself and your credit - you should always be alert to the costs - and how to avoid them from happening to you, this has been some general information to help you stay away from the high cost of credit cards and falling into the pitfalls of hidden and late fees.
The price of credit cards.
Do you know every thing about your credit card?
Even though some people choose to rush into getting a credit card, they generally do so without being knowledgeable of the high cost they could pose. So many credit cards out there come with hidden fees and charges, and you should always be conscious of this before you apply. In many cases, these fees and charges won’t get seen by the user until it is way too late.
Credit card customers who are not conscious of any hidden costs could easily end up paying perhaps thousands of dollars at the end of the year - and not even grasp it. If you have a reward credit card, your rewards could easily be ruined by these hidden costs. Even though some credit card users may comprehend it, there are many out there who are not aware of these fees at all.
One of the first factors for concealed costs is found in the grace period. The grace period is the extra time you have to pay your bill without having added fees to your statement. although this can be fantastic for paying your bill, it can quickly lead to a downslide if you let it. To prevent any type of costs or hidden charges, you should pay your bill as soon as it comes. This way, you won’t have to stress about your grace period or the interest that can accumulate from letting your bill get later and later which is never good.
The late charge is another factor with credit cards that is more times then not overlooked or brushed aside by credit card customers. Late charges are frequent with credit cards, even though their potential for costs is often over seen. Some people decide to pay it and be done with it, unconscious of the fact that these fees can indeed add up in a very short period of time. One thing to do to be on the secure side, you should always recognize what the late fees are and how quick they can add up.
The simplest way to prevent any type of hidden charges or costs is to pay your bill on time - as soon as your statement arrives in the mail. You must also pay more than the minimum, by doing this, this helps to pay your bill off much quicker and guarantee that you pay the bill and not just paying the interest month after month. Paying your bill late is never a good idea, as it can easily demolish your credit report and score. If you time and time again keep making late payments, your company or bank can escalate your interest rates.
I will leave you with this no matter what you do, you should continuously pay your credit card bill on time. Hidden charges and costs are out there and every where - it’s up to you to shun them. Credit card companies and banks will never tell you what the hidden fees are, unless you ask them directly and upfront. To defend yourself and your credit - you should always be alert to the costs - and how to avoid them from happening to you, this has been some general information to help you stay away from the high cost of credit cards and falling into the pitfalls of hidden and late fees.
Monday, August 20, 2007
Be A Co-Signer On A Loan
Being a Co-signer on a Personal Loan
Being a co-signer on a personal loan for a friend or family member is a very generous offer as it will likely mean the difference between them being able to qualify for such a loan and not being eligible. However, the decision of being a co-signer for a personal loan should not be made lighter. It is the responsibility of potential co-signers to educate themselves about how this situation affects them, especially with regard to their responsibility to the loan should the borrower default.
Most co-signers don’t realize that this loan is going to show up on their credit report. Keep in mind that this might affect your ability to get your own loan down the road as the personal loan you co-signed on with by used to calculate your debt to income ratio. It can also affect the interest rate you get your own loans at. If you feel it is a good idea to co-sign a personal loan for a friend or family member, do so with the understanding that after a set amount of making on time payments the borrower will attempt to redo the loan under their own name only. The more money you co-sign for, the longer you can expect to be a part of that loan.
Since the loan can both positively and negatively impact the credit rating of the co-signer it is important to set the loan up so that they co-signer can access the account information. This will allow you to find out what has been paid on the loan and what is still owed. Make sure the lender will inform you of any late payments or non-payment issues with the borrower as soon as they happen. Too often co-signers aren’t aware there was an issue with the loan until it has already impacted their credit.
While co-signing a loan for a friend or family member can help them, be aware of how it will affect not only your credit but your relationship as well. Nothing can sour relationships faster than money issues. It is important for a co-signer to look at the circumstances that lead to the individual needing one in the first place. If it comes down to simple money mismanagement, then you aren’t doing them or yourself any favors. However, it is the result of circumstances they had no control over you may want to consider it.
To minimize your risk as a co-signer, don’t make it habit of offering to do so for friends and family. The word will spread like wildfire with more requests heading your direction. If you don’t feel your own credit and finances can’t hold up if the borrower doesn’t repay the loan, then do not co-sign for a personal loan. It can be difficult to say no, but it is important you are able to.
You might consider having the borrower provide your with verification that payments are being made including regular statements or cancelled checks. To further reduce your risk as a co-signer insist the borrower purchases personal loan insurance that can cover loan payments for a particular amount of time due to unemployment, illness, or death.
Co-signing a personal loan for someone is more than giving your signature. You are putting your financial history and worthiness on the line for that person. It is important that you carefully review the borrowers need for the money as well as their spending patterns. If they owe other people money or continually live beyond their means, walk away with a clear conscious. There are times that being a co-signer on a personal loan is the right thing to do. Only you can make that decision. If you decide to go forward with it make sure you can afford the cost of any missed payments and that the lender is going to keep you informed on the payment status on the personal loan.
Being a co-signer on a personal loan for a friend or family member is a very generous offer as it will likely mean the difference between them being able to qualify for such a loan and not being eligible. However, the decision of being a co-signer for a personal loan should not be made lighter. It is the responsibility of potential co-signers to educate themselves about how this situation affects them, especially with regard to their responsibility to the loan should the borrower default.
Most co-signers don’t realize that this loan is going to show up on their credit report. Keep in mind that this might affect your ability to get your own loan down the road as the personal loan you co-signed on with by used to calculate your debt to income ratio. It can also affect the interest rate you get your own loans at. If you feel it is a good idea to co-sign a personal loan for a friend or family member, do so with the understanding that after a set amount of making on time payments the borrower will attempt to redo the loan under their own name only. The more money you co-sign for, the longer you can expect to be a part of that loan.
Since the loan can both positively and negatively impact the credit rating of the co-signer it is important to set the loan up so that they co-signer can access the account information. This will allow you to find out what has been paid on the loan and what is still owed. Make sure the lender will inform you of any late payments or non-payment issues with the borrower as soon as they happen. Too often co-signers aren’t aware there was an issue with the loan until it has already impacted their credit.
While co-signing a loan for a friend or family member can help them, be aware of how it will affect not only your credit but your relationship as well. Nothing can sour relationships faster than money issues. It is important for a co-signer to look at the circumstances that lead to the individual needing one in the first place. If it comes down to simple money mismanagement, then you aren’t doing them or yourself any favors. However, it is the result of circumstances they had no control over you may want to consider it.
To minimize your risk as a co-signer, don’t make it habit of offering to do so for friends and family. The word will spread like wildfire with more requests heading your direction. If you don’t feel your own credit and finances can’t hold up if the borrower doesn’t repay the loan, then do not co-sign for a personal loan. It can be difficult to say no, but it is important you are able to.
You might consider having the borrower provide your with verification that payments are being made including regular statements or cancelled checks. To further reduce your risk as a co-signer insist the borrower purchases personal loan insurance that can cover loan payments for a particular amount of time due to unemployment, illness, or death.
Co-signing a personal loan for someone is more than giving your signature. You are putting your financial history and worthiness on the line for that person. It is important that you carefully review the borrowers need for the money as well as their spending patterns. If they owe other people money or continually live beyond their means, walk away with a clear conscious. There are times that being a co-signer on a personal loan is the right thing to do. Only you can make that decision. If you decide to go forward with it make sure you can afford the cost of any missed payments and that the lender is going to keep you informed on the payment status on the personal loan.
Thursday, August 16, 2007
Improve your credit
How To Improve Your Credit
If you are insanely rich maybe you do not have to worry if not you should be informed on your credit score and credit information. Do not leap and take purchase of a car, a house or any things with a high heavy balance. Your credit score may even be checked when making the smaller purchases such as signing up for a mobile phone.
Your FICO score is a method developed by Fair, Isaac &co, determines your credit rating to the lender. In other words it lets them no how worthy you are of holding to your paybacks. With loans it also determines the rate of interest that you will be facing. The higher your credit score the better the interest rate the will be placed in front of you.
Do you even know what your credit score is? It’s not out of the ball park to say that most people are in the dark of what their score and rating looks like or even how to find out and where to get it.
Your credit score is accounted and figured by your credit report. Your report keeps and firm tally on many various transactions within your financial life. 1) Payment history. 2) Available credit, 3) Existing debt. 4) This may even involve check your basic purchases from the shoe store to eating out.
Step One, take this into account.
Find out your credit score. Get in touch all three major credit bureaus, Equifax, Trans Union and Experian. make sure to do all three so that you have complete knowledge of what your credit score rating is referring too. These three credit bureaus might even have a slightly different credit score, but the credit score should not be too far off.
Next step:
Fix any thing wrong that you see with your credit score. This will mean contacting the bureau directly . Make sure this is done before you go out and try to finance that new flat screen T.V
This would be considered number three:
Make all your monthly payment on time. This may simple and it is. This has a huge impact on your credit score. Be on time at paying on time. This will show that you are reliable when it come to paying off debt.
Step Four:
Get rid credit card balances. The more balance you have the worse it is for you. If your balance is too much it can be a over look back of your cash earnings not being enough to handle further debt. This may mean to cancel some of the credit cards that you have that you no longer nee d use of , all of this steps into account should help your credit in the most beneficial way possible.
If you are insanely rich maybe you do not have to worry if not you should be informed on your credit score and credit information. Do not leap and take purchase of a car, a house or any things with a high heavy balance. Your credit score may even be checked when making the smaller purchases such as signing up for a mobile phone.
Your FICO score is a method developed by Fair, Isaac &co, determines your credit rating to the lender. In other words it lets them no how worthy you are of holding to your paybacks. With loans it also determines the rate of interest that you will be facing. The higher your credit score the better the interest rate the will be placed in front of you.
Do you even know what your credit score is? It’s not out of the ball park to say that most people are in the dark of what their score and rating looks like or even how to find out and where to get it.
Your credit score is accounted and figured by your credit report. Your report keeps and firm tally on many various transactions within your financial life. 1) Payment history. 2) Available credit, 3) Existing debt. 4) This may even involve check your basic purchases from the shoe store to eating out.
Step One, take this into account.
Find out your credit score. Get in touch all three major credit bureaus, Equifax, Trans Union and Experian. make sure to do all three so that you have complete knowledge of what your credit score rating is referring too. These three credit bureaus might even have a slightly different credit score, but the credit score should not be too far off.
Next step:
Fix any thing wrong that you see with your credit score. This will mean contacting the bureau directly . Make sure this is done before you go out and try to finance that new flat screen T.V
This would be considered number three:
Make all your monthly payment on time. This may simple and it is. This has a huge impact on your credit score. Be on time at paying on time. This will show that you are reliable when it come to paying off debt.
Step Four:
Get rid credit card balances. The more balance you have the worse it is for you. If your balance is too much it can be a over look back of your cash earnings not being enough to handle further debt. This may mean to cancel some of the credit cards that you have that you no longer nee d use of , all of this steps into account should help your credit in the most beneficial way possible.
Your Credit Score
Your Credit Card Score And How It Can Be Important.
Your credit score, it is a check point system used by lenders and potential banks to find out your previous and past credit history. Your score, which can range from a measly 300 to a amazing score of 900, your credit is based on a number of many things, including credit payment history, how long of time you've held credit lines and unpaid balances, amount of credit outstanding and a few other things to go along. Ones credit score can mean the world when it comes to finance and applying for loans, and you need to know exactly what can do to benefit your life.
The credit score came from a company called Fair Isaac Corp, a California based company that came up with the as well as the FICO score. The scores come from the largest three credit reporting bureaus, Experian, TransUnion and Equifax. They each have their on version of the credit score. There is also a rising agency named VantageScore. This comes from a work in progress development of all three credit bureaus in an a attempt to simplify the credit scoring process. This will prove to not only be a numerical value , but a letter grade as well. Someone with a week FICO score from the range of 500-600 would be hit with the letter grade "F", and the rest follows.
Whatever method is used, however, it would be very important to work on your credit score to the best of your know how to keep your credit in good standing. This tiny credit score number can has a deep effect not only whether or not you'll qualify for credit, but if you do and will be able to receive credit, and the interest rates that will come along with it. It is a proven fact, someone with a low credit score, are much more of a suspect and they will pay higher interest rates to borrow money than a customer who has a great credit standing.
The regular normal credit rating from the three credit bureaus is broken up into many different criteria’s for viewing just how good you control your credit . These five factors mix together a detailed picture of your past credit history. The first is how you pay your bills, if they are on time late and so, this will take for a astonishing 35% of the score. Second is the amount of money you owe and how much available credit you have left. This one counts for another 30%. third is how long you have had your credit history. Fourth, the types of credit you have is judged at 10%. Last would be any recent or new credit applications, another 10%.
A few issues that will never come into play would be things such as sex, race, religion
Your credit score, it is a check point system used by lenders and potential banks to find out your previous and past credit history. Your score, which can range from a measly 300 to a amazing score of 900, your credit is based on a number of many things, including credit payment history, how long of time you've held credit lines and unpaid balances, amount of credit outstanding and a few other things to go along. Ones credit score can mean the world when it comes to finance and applying for loans, and you need to know exactly what can do to benefit your life.
The credit score came from a company called Fair Isaac Corp, a California based company that came up with the as well as the FICO score. The scores come from the largest three credit reporting bureaus, Experian, TransUnion and Equifax. They each have their on version of the credit score. There is also a rising agency named VantageScore. This comes from a work in progress development of all three credit bureaus in an a attempt to simplify the credit scoring process. This will prove to not only be a numerical value , but a letter grade as well. Someone with a week FICO score from the range of 500-600 would be hit with the letter grade "F", and the rest follows.
Whatever method is used, however, it would be very important to work on your credit score to the best of your know how to keep your credit in good standing. This tiny credit score number can has a deep effect not only whether or not you'll qualify for credit, but if you do and will be able to receive credit, and the interest rates that will come along with it. It is a proven fact, someone with a low credit score, are much more of a suspect and they will pay higher interest rates to borrow money than a customer who has a great credit standing.
The regular normal credit rating from the three credit bureaus is broken up into many different criteria’s for viewing just how good you control your credit . These five factors mix together a detailed picture of your past credit history. The first is how you pay your bills, if they are on time late and so, this will take for a astonishing 35% of the score. Second is the amount of money you owe and how much available credit you have left. This one counts for another 30%. third is how long you have had your credit history. Fourth, the types of credit you have is judged at 10%. Last would be any recent or new credit applications, another 10%.
A few issues that will never come into play would be things such as sex, race, religion
Sunday, August 12, 2007
A high cost of credit cards
Here I have gone through A high cost of credit cards.
I hope to better inform you and hope my blog helps in you the biggest way possible
The Cost Of Credit Cards
Although some choose to rush into getting a credit card, they normally do so without being aware of the costs. A lot of credit cards out there come with hidden costs and charges, and you should always be aware of this before you apply. In most cases, these fees and charges won’t get noticed by the user until it is too late.
Credit card holders who aren’t aware of any hidden costs could easily end up paying possibly thousands of dollars at the end of the year - and not even realize it. If you have a reward credit card, your rewards could easily be destroyed by these hidden costs. Although some credit card users may realize it, there are many out there who aren’t aware of these costs at all.
The first factor for hidden costs is found in the grace period. The grace period is the extra time you have to pay your bill without having extra fees added to your bill. Even though this can be great for paying your bill, it can quickly lead to a pitfall if you let it. To avoid any type of costs or hidden fees, you should pay your bill as soon as it arrives. This way, you won’t have to worry about your grace period or the interest that can accrue from letting your bill get later and later.
The late fee is another factor with credit cards that is often overlooked by credit card users. Late fees are common with credit cards, although their potential for costs is often overlooked. Some people choose to pay it and be done with it, unaware of the fact that these costs can indeed add up in no time at all. To be on the safe side, you should always know what the late charges are and how fast they can add up.
The easiest way to avoid any type of hidden fees or costs is to pay your bill on time - as soon as you receive your bill. You should also pay more than the minimum, as this helps to pay your bill off faster and ensure that you pay the bill and not just the interest. Paying your bill late is never a good thing, as it can easily destroy your credit report. If you continue to make late payments, your company or bank can increase your interest rates.
No matter what you do, you should always pay your credit card bill on time. Hidden fees and costs are out there - it’s up to you to avoid them. Credit card companies and banks won’t tell you what the hidden fees are, unless you ask them. To protect yourself and your credit - you should always be aware of the costs - and how to prevent them from happening to you.
I hope this infomation was useful.
I hope to better inform you and hope my blog helps in you the biggest way possible
The Cost Of Credit Cards
Although some choose to rush into getting a credit card, they normally do so without being aware of the costs. A lot of credit cards out there come with hidden costs and charges, and you should always be aware of this before you apply. In most cases, these fees and charges won’t get noticed by the user until it is too late.
Credit card holders who aren’t aware of any hidden costs could easily end up paying possibly thousands of dollars at the end of the year - and not even realize it. If you have a reward credit card, your rewards could easily be destroyed by these hidden costs. Although some credit card users may realize it, there are many out there who aren’t aware of these costs at all.
The first factor for hidden costs is found in the grace period. The grace period is the extra time you have to pay your bill without having extra fees added to your bill. Even though this can be great for paying your bill, it can quickly lead to a pitfall if you let it. To avoid any type of costs or hidden fees, you should pay your bill as soon as it arrives. This way, you won’t have to worry about your grace period or the interest that can accrue from letting your bill get later and later.
The late fee is another factor with credit cards that is often overlooked by credit card users. Late fees are common with credit cards, although their potential for costs is often overlooked. Some people choose to pay it and be done with it, unaware of the fact that these costs can indeed add up in no time at all. To be on the safe side, you should always know what the late charges are and how fast they can add up.
The easiest way to avoid any type of hidden fees or costs is to pay your bill on time - as soon as you receive your bill. You should also pay more than the minimum, as this helps to pay your bill off faster and ensure that you pay the bill and not just the interest. Paying your bill late is never a good thing, as it can easily destroy your credit report. If you continue to make late payments, your company or bank can increase your interest rates.
No matter what you do, you should always pay your credit card bill on time. Hidden fees and costs are out there - it’s up to you to avoid them. Credit card companies and banks won’t tell you what the hidden fees are, unless you ask them. To protect yourself and your credit - you should always be aware of the costs - and how to prevent them from happening to you.
I hope this infomation was useful.
Compare Credit Cards
Compare your credit cards prior
All across the United States, there are hundreds and hundreds of banks and companies looking for your business. This day and age, banks and credit card companies are in competition with each other, trying all they can to get your business. To try and get your business, they offer different credit cards with various incentives, rebates, and other perks.
Before you make your decision and choose a credit card, you should always compare what each company or bank has to offer you. If you get an offer in the mail for a credit card, you should go on the Internet and look into it more. You should also make sure that you read the fine print as well, to see if there are any type of hidden fees or other costs associated with that card. Many times, with offers in the mail, credit card companies or banks will try to sneak hidden fees and costs in there.
When you start to compare offers, you should make sure that you look at the APR and the fees. The APR is very important, as this will tell you your interest rate. You want to get the lowest APR possible with your credit card. If you look at a credit card that has an unusually high APR, you should immediately rule it out. Credit cards that come with high APR rates can easily lead you on a roller coaster towards credit card debt. No matter how good your credit may be, high APR rates can leave you with charges that are really difficult to pay.
Among the many options available to you, you’ll have three primary choices for your credit card - Visa, MasterCard, and American Express. These three giants are the leaders in credit cards. Visa and MasterCard don’t issue the cards themselves, they have banks and other companies issue on their behalf. American Express, or AMEX, is the only one that does everything themselves. AMEX issues their credit cards, maintains their own networks, and doesn’t use any type of third party.
If you like to travel, you will probably want to choose either Visa or MasterCard, as they are accepted all over the world. American Express is the least accepted of the three, although the company is upgrading their networks every chance they get. Before too long, AMEX will be accepted virtually everywhere. Right now though, AMEX isn’t accepted in all areas of the world.
Discover is another type of credit card, although it isn’t near as popular as the three above. Discover does have some great benefits to offer you, although it isn’t accepted in other parts of the world. Most people who have Discover credit cards stay local and use their cards in the event of an emergency. If you don’t have a credit card and have been thinking about getting a Discover card, you should really think about that decision and choose either Visa or MasterCard instead.
All in all, there are a lot of credit cards to choose from. That final decision though, is entirely up to you. There are a lot of great companies and banks out there, although it’s up to you to find the best credit card for your needs. You can choose to go with a company or bank that’s local to you, or get online and look for your credit card. The Internet can be a great resource for credit cards, as long as you know what you want. If you know what you want before you go online - you’ll save yourself a lot of time and money.
All across the United States, there are hundreds and hundreds of banks and companies looking for your business. This day and age, banks and credit card companies are in competition with each other, trying all they can to get your business. To try and get your business, they offer different credit cards with various incentives, rebates, and other perks.
Before you make your decision and choose a credit card, you should always compare what each company or bank has to offer you. If you get an offer in the mail for a credit card, you should go on the Internet and look into it more. You should also make sure that you read the fine print as well, to see if there are any type of hidden fees or other costs associated with that card. Many times, with offers in the mail, credit card companies or banks will try to sneak hidden fees and costs in there.
When you start to compare offers, you should make sure that you look at the APR and the fees. The APR is very important, as this will tell you your interest rate. You want to get the lowest APR possible with your credit card. If you look at a credit card that has an unusually high APR, you should immediately rule it out. Credit cards that come with high APR rates can easily lead you on a roller coaster towards credit card debt. No matter how good your credit may be, high APR rates can leave you with charges that are really difficult to pay.
Among the many options available to you, you’ll have three primary choices for your credit card - Visa, MasterCard, and American Express. These three giants are the leaders in credit cards. Visa and MasterCard don’t issue the cards themselves, they have banks and other companies issue on their behalf. American Express, or AMEX, is the only one that does everything themselves. AMEX issues their credit cards, maintains their own networks, and doesn’t use any type of third party.
If you like to travel, you will probably want to choose either Visa or MasterCard, as they are accepted all over the world. American Express is the least accepted of the three, although the company is upgrading their networks every chance they get. Before too long, AMEX will be accepted virtually everywhere. Right now though, AMEX isn’t accepted in all areas of the world.
Discover is another type of credit card, although it isn’t near as popular as the three above. Discover does have some great benefits to offer you, although it isn’t accepted in other parts of the world. Most people who have Discover credit cards stay local and use their cards in the event of an emergency. If you don’t have a credit card and have been thinking about getting a Discover card, you should really think about that decision and choose either Visa or MasterCard instead.
All in all, there are a lot of credit cards to choose from. That final decision though, is entirely up to you. There are a lot of great companies and banks out there, although it’s up to you to find the best credit card for your needs. You can choose to go with a company or bank that’s local to you, or get online and look for your credit card. The Internet can be a great resource for credit cards, as long as you know what you want. If you know what you want before you go online - you’ll save yourself a lot of time and money.
Choose A Great Credit Card
Have you looked for that great credit card .
credit cards made easy.
Choosing Your Credit Card
There are many credit cards out there. The one you choose however, should reflect your lifestyle and your ideal spending amounts. If you are looking for the best possible deal and the best company for your credit card, you’ll obviously need to look around at what you have to choose from and what works best for you.
The first thing you’ll need to decide when choosing your credit card, is why you need one in the first place. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest. This way, your money will continue to grow while you continue to buy the things you need. Then at the end of the month, simply pay your bill.
Others will choose to get a credit card and use it for instant cash purposes. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.
With a credit card, you’ll also need to think about the payments. You’ll need to decide if you want to pay the balance in full each month, or only the required amount. When you select your credit card, you should look at the introductory rates, balance transfer rates, and other offers that may apply to new credit cards and new holders. Some will offer you truly amazing deals, especially if you have good credit.
Another important area to look at when choosing your credit card is the incentives. There are several cards out there that will give you incentives, such as reward points and even cash back with purchases that you can use towards paying back what you owe. There are several incentives out there with credit cards, all you have to do is look around and compare.
The key area you’ll need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you’ll be.
Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.
When you make that final decision and choose your credit card, you should always make sure that you know exactly what you are getting. Credit cards are great to have, although they can lead to a downfall if you don’t choose them carefully. If you put some time and research into choosing your credit card, you’ll find the best one for you. As long as you take care of your credit card and pay the bill on time, you’ll help raise your credit and eventually be able to purchase even bigger things - such as a car or even a house. Guaranteed Credit Card Financing!
credit cards made easy.
Choosing Your Credit Card
There are many credit cards out there. The one you choose however, should reflect your lifestyle and your ideal spending amounts. If you are looking for the best possible deal and the best company for your credit card, you’ll obviously need to look around at what you have to choose from and what works best for you.
The first thing you’ll need to decide when choosing your credit card, is why you need one in the first place. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest. This way, your money will continue to grow while you continue to buy the things you need. Then at the end of the month, simply pay your bill.
Others will choose to get a credit card and use it for instant cash purposes. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.
With a credit card, you’ll also need to think about the payments. You’ll need to decide if you want to pay the balance in full each month, or only the required amount. When you select your credit card, you should look at the introductory rates, balance transfer rates, and other offers that may apply to new credit cards and new holders. Some will offer you truly amazing deals, especially if you have good credit.
Another important area to look at when choosing your credit card is the incentives. There are several cards out there that will give you incentives, such as reward points and even cash back with purchases that you can use towards paying back what you owe. There are several incentives out there with credit cards, all you have to do is look around and compare.
The key area you’ll need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you’ll be.
Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.
When you make that final decision and choose your credit card, you should always make sure that you know exactly what you are getting. Credit cards are great to have, although they can lead to a downfall if you don’t choose them carefully. If you put some time and research into choosing your credit card, you’ll find the best one for you. As long as you take care of your credit card and pay the bill on time, you’ll help raise your credit and eventually be able to purchase even bigger things - such as a car or even a house. Guaranteed Credit Card Financing!
Secured Credit Cards
Your Secured Credit Cards
Even though there are many types of credit cards out there for consumers, there are few for those with bad credit. Those who are looking to repair their credit have a few options available, one of which is the bank secured credit card. This credit card can help you to repair your credit, as it works in conjunction with your savings or checking account.
Bank secured credit cards look and work just like traditional credit cards, although they use your bank account as collateral. Anytime you aren’t able to pay your credit card bill at the due date, the bank will take the money out of your account. This way, there is always money there for the bank, in the event that you are unable to make your payment.
Bank secured credit cards are also ideal for those who have a bankruptcy or simply don’t qualify for a line of credit due to bad credit or no credit history. These credit cards show your bank that you are able to pay your monthly dues, and that you are taking the necessary steps in rebuilding or building your credit. Over time, if you remain responsible and pay your bill on time, your bank may give you an unsecured line of credit - known as a standard credit card with no collateral.
Due to the fact that bank secured credit cards only allow you to spend what have in your account, you don’t need to worry about debt. When you can’t make a payment, the bank simply takes the money out of your account. Although this is a great back up plan, you should always pay your bill and never let this happen.
Just like other credit cards, bank secured credit cards do have disadvantages that can hit you like a ton of bricks should you use the card irresponsibly. Anytime you don’t pay your bill on time, the bank can hit you with high interest charges and late charges. These charges and fees can get higher and higher if you don’t start paying your bill, which can eventually cause you to drain your account that you set aside. If you pay your bill on time though, you won’t have to worry about being hit with these types of charges.
For those who have bad credit or need to start building credit, a bank secured credit card is a great place to start. These cards can lead you to an unsecured credit card, providing you pay your bill on time. Almost all banks offer these credit cards, all you have to do is ask. Once you have kept your credit card in good standing for a period of time - you’ll have the satisfaction in knowing that you are taking the right steps in rebuilding your credit.
Even though there are many types of credit cards out there for consumers, there are few for those with bad credit. Those who are looking to repair their credit have a few options available, one of which is the bank secured credit card. This credit card can help you to repair your credit, as it works in conjunction with your savings or checking account.
Bank secured credit cards look and work just like traditional credit cards, although they use your bank account as collateral. Anytime you aren’t able to pay your credit card bill at the due date, the bank will take the money out of your account. This way, there is always money there for the bank, in the event that you are unable to make your payment.
Bank secured credit cards are also ideal for those who have a bankruptcy or simply don’t qualify for a line of credit due to bad credit or no credit history. These credit cards show your bank that you are able to pay your monthly dues, and that you are taking the necessary steps in rebuilding or building your credit. Over time, if you remain responsible and pay your bill on time, your bank may give you an unsecured line of credit - known as a standard credit card with no collateral.
Due to the fact that bank secured credit cards only allow you to spend what have in your account, you don’t need to worry about debt. When you can’t make a payment, the bank simply takes the money out of your account. Although this is a great back up plan, you should always pay your bill and never let this happen.
Just like other credit cards, bank secured credit cards do have disadvantages that can hit you like a ton of bricks should you use the card irresponsibly. Anytime you don’t pay your bill on time, the bank can hit you with high interest charges and late charges. These charges and fees can get higher and higher if you don’t start paying your bill, which can eventually cause you to drain your account that you set aside. If you pay your bill on time though, you won’t have to worry about being hit with these types of charges.
For those who have bad credit or need to start building credit, a bank secured credit card is a great place to start. These cards can lead you to an unsecured credit card, providing you pay your bill on time. Almost all banks offer these credit cards, all you have to do is ask. Once you have kept your credit card in good standing for a period of time - you’ll have the satisfaction in knowing that you are taking the right steps in rebuilding your credit.
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