Credit Repair Credit Cards

Free Annual Credit Reports Starting Dec. 2004

Admin — Thu, 27 Jan 2005 23:40:00 -0800

Beginning in December 2004, consumers can get a free copy of their credit report annually. Free annual credit reports will be rolled out starting on the West Coast and ending in September 2005 on the East Coast. A centralized source with a toll-free number, web site, and mailing address will be established to order your free report in the near future...

Credit Education

Admin — Mon, 27 Dec 2004 03:52:00 -0800

Credit Education
by: David Hall

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Prepaid Credit Card spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. With secured credit card, your credit line could be from 50% to 100% of your deposit depending on the institution giving you the ...

Paying off Credit Card Balance vs. Keeping a Balance on your Credit Cards

Admin — Sun, 19 Dec 2004 13:51:00 -0800

So which is it? Pay off your credit cards every month to show how well you pay your bills, or keep balances on them to develop a greater credit history? Which one will help you build better credit?

Maxine Sweet, ...

American Express Partners With Bank In China

Admin — Wed, 08 Dec 2004 02:15:00 -0800

American Express launches its first credit card partnership with a Chinese bank on Wednesday December 8th 2004.

American Express is looking to take part in China's credit market and China's growing middle class.

The partnership is with one of China's top commercial banks "Industrial and Commercial Bank of China"

"American Express chairman Kenneth Chenault told reporters credit card penetration levels in fast-growing China, now estimated at 3 percent, were set to grow dramatically."

This credit card will be a dual currency card, with the American Express logo on it.

Maxing out credit cards - When does overspending start to hurt credit score?

Admin — Sat, 13 Nov 2004 13:55:00 -0800

Recently I have heard a lot of debating about where you should draw the line on credit card spending to avoid damaging your credit score. I have researched this on the internet and have found arguments towards both the 30% ...

Credit Report Information, Facts & Resources - Free Credit Report Information for Consumers

Admin — Fri, 12 Nov 2004 04:09:00 -0800

Your credit report a type of consumer report contains information about where you work and live and how you pay your bills. It also may show whether youve been sued or arrested or have filed for bankruptcy. Companies called consumer reporting agencies (CRAs) or credit bureaus compile and sell your credit report to businesses...

Getting Your Credit Report

Admin — Fri, 12 Nov 2004 03:33:00 -0800

If youve been denied credit, insurance, or employment because of information supplied by a CRA, the FCRA says the company you applied to must give you the CRAs name, address, and telephone number. If you contact the agency for a copy of your report within 60 days of receiving a denial notice, the report is free. In addition...

How to get a Free Credit Report

Admin — Mon, 08 Nov 2004 21:24:00 -0800

Did you know that you are entitled to a FREE CREDIT REPORT if you live in the United States and are in one of the following situations?

1) you were denied credit, insurance or a job; or
2) you are on welfare or unemployed and looking for work; or
3) your report is inaccurate due to fraud

Holden Lewis at BankRate.com has a great article showing you how to obtain a free credit report, and even if you don't qualify for a free one, how to get the best deal based on which state you live in. You can read the full article here.

Here is a quick summary from that article.

"You might be able to get your credit report free or pay $9 or something in between.

The cost depends on why you're asking for your credit report, where you live, and whether you order by phone, online or mail.

If a company denies you credit, insurance or a job because of something in your credit report, that company has to tell you which credit bureau provided the information. You are entitled to a free credit report from that bureau within 60 days of being turned down.

You can request your free credit report by phone or mail, and just must mention that you were denied credit, insurance or a job. The credit bureau will check to see if it indeed provided information to the creditor, insurance company or employer that turned you down. Because bureaus are not notified when you are denied, they have to take your word for it.

You also are entitled to a free credit report if you are on welfare, are unemployed and plan to look for a job soon, or your credit report is inaccurate due to fraud -- in other words, because someone stole your identity.

Six states entitle residents to one free credit report every year from each of the three major credit bureaus.

In other states, things get a little more complicated, so read on.

In most states (see table below), you have to pay $9. A fancier version, which includes your credit score and explanations on how it was obtained, cost a few dollars more.

A few states, including California, have capped the amount less than that as long as you order by phone or by mail.

But, if you order a report online, you generally have to pay $9, no matter where you live and what your circumstances."

The first step to fixing your credit is knowing where you stand with your credit. So be sure to get a copy and begin to develp a game plan. This will help you greatly in improving your credit score!

How do the credit companies work?

Admin — Mon, 08 Nov 2004 21:20:00 -0800

The banks, retail stores, utility companies, etc. report your payment record to the credit reporting companies each month. The credit reporting companies then give that information to a second tier of regional reporting companies who sell it to retailers, banks ...

Credit Issues - the overlooked fallacies of credit reports

Admin — Sun, 07 Nov 2004 18:34:00 -0800

Credit reports are to an extent a secret dossier of a person that may have a significant impact upon their life. Almost everything that we do financially is reported, collected, and stored in each persons credit profile. What we do ...