Credit Repair Credit Cards

How to get a better understanding of your credit score

Admin — Sun, 31 Jul 2005 01:31:15 -0700

Mortgage News Daily is a powerful blog with tons of mortgage and credit related information. If you haven't have the chance to check them out yet, you can visit them at http://www.mortgagenewsdaily.com.

An article that we think would be beneficial to our readers is one titled: "Understanding Your Credit Score" in which they help explain more about what a credit score is and how it might affect your credit rating when applying for a mortgage.

Credit scoring is not new, it has been showing up in some form on credit reports for a number of ...

"Credit Score Scale" - Credit Score Scale Resources

Admin — Tue, 29 Mar 2005 06:02:26 -0800

1. Credit Scale Score - Credit 4U
… credit score scale. Get a copy of your credit report and learn how to improve … Includes your credit score scale, score, home valuation, and more! ... …

2. Credit Highest Score - Credit 4U
… Information on Credit score and trans union credit score ... credit score scale etc ... score to credit mean score and business credit score (perfect …

3. Score Scale of 0-100
Credit Score Scale (0-100). Your Score on a 0-100 Scale : 75. In this window, you can view your score on a scale of 0 ...

5 Ways to Improve Your Credit Score

Admin — Sat, 29 Jan 2005 03:54:46 -0800

Staff Writer Jeanne Sahadi at CNN/Money has a great article about improving your credit score. In this article she covers 5 steps to better credit. Here is a summary from that article.

1) Correct blatant mistakes. Your credit score is only as good as what shows up in your credit report. Review your reports from all three credit bureaus for accuracy once a year as well as several months before applying for a loan. Changing a mistake on your report - such as a payment that is wrongly labeled as late -- can take 30 days to three months, sometimes longer.

2) Pay your bills on time. This is always a good practice, and it's especially critical that you make prompt payments close to the time you need a loan. That's because a late or missed payment in the last few months is likely to lower your score much more than an isolated late payment five years ago.

3) Reduce your credit card balances. A heavily weighted factor in your FICO score is how much money you owe on your credit cards relative to your total credit limit. Generally, it's good to keep your balances at or below 25 percent of your credit card limit, said Jeanne Kelly, founder of The Kelly Group in Brookfield, Conn., which helps clients improve their credit scores.

4) Pay off debt rather than moving it around. Since the ratio of your credit card balance to your credit limit is key, closing out an account and transferring the balance simply means you increase that ratio, which is likely to lower your score. In other words, say you owe a total of $2,000 on four credit cards, each of which has a $2,000 limit. Your total credit limit is $8,000, of which your total balance ($2,000) accounts for 25 percent. If you transfer all your balances to two cards and cancel the other two, your total credit limit is reduced to $4,000, and your $2,000 balance now accounts for 50 percent of that limit.

5) Don't close unused credit card accounts near loan time. If you have several credit card accounts but are only using a few of them, you'll only raise your balance-to-limit ratio if you close the unused ones. You also shouldn't open new accounts when applying for a loan if possible. If you have a short credit history or very few accounts, opening a new credit line may lower your score since you don't have a proven track record, said Jan Davis, an executive vice president at TransUnion. What's more, a new account will lower the average age of your accounts, another factor in your FICO score.

This article is a great read, and if you get the chance, I would suggest to read the whole article.

Source: CNN/Money

URL: http://money.cnn.com/2002/02/15/debt/q_fivethings_creditscore/

Free Annual Credit Reports Starting Dec. 2004

Admin — Thu, 27 Jan 2005 23:40:08 -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...

A Credit Score is a Sum Used by Lenders as an Indicator of how likely you are to Repay your Loans.

Admin — Thu, 27 Jan 2005 02:06:16 -0800
What is a credit score? A credit score is a sum used by lenders as an indicator of how likely you are to repay your loans. Your credit score is generated by a mathematical formula utilizing the data from your TransUnion, Equifax or Experian credit reports. Lenders have been using credit scores as part of the lending decision for over than 20 years. What factors influence my credit score? Various factors determine your credit score, including the following:

Give Yourself Credit: Make Resolutions to Improve and Protect Your Credit/ Improve Your Credit Score

Admin — Sun, 23 Jan 2005 10:31:03 -0800
Control Your Debt - Credit Repair Advice & Articles :: Give Yourself Credit: Make Resolutions to Improve and Protect Your Credit Previous: How to read your credit report Next: Nonprofit offers cures for post-holiday debt hangovers Give Yourself Credit: Make Resolutions to Improve and Protect Your Credit by Admin at 06:46PM (PST) on January 10, 2005 | Permanent Link | Cosmos Your Credit Card Companies Provides Advice for Sticking to Those Resolutions The season for resolutions is upon us and it's time to make a commitment to improving and protecting your credit. Making a few small changes in financial habits ...

Secrets & Benefits of Secured Loans

Admin — Wed, 12 Jan 2005 03:05:43 -0800
Secrets & Benefits of Secured Loans by: Christos Margetis Borrowing money has become more and more popular in the UK over recent years, and this is partly due to the fact that it has become far easier to borrow money. The rising popularity of consumer finance has also been aided by the wide variety of deals and the low interest rates available these days. Secured loans have become very popular with those that own property, and this type of finance deal offers affordability and excellent value for money. Secured loans are available from a wide pool of lenders, which means that consumers have plenty of choice when it comes to selecting and applying for secure loans.

Credit Repair Companies and Credit Counseling

Admin — Wed, 12 Jan 2005 03:02:03 -0800

Credit Repair Companies and Credit Counseling
by: Jeanette Joy Fisher

Let's be crystal clear, right up front. Paying someone to "fix" your credit is a waste of your time and money, since the negative issues that are temporarily removed from your file will only reappear again in a couple of months.

Be careful with credit repair scams.

Most "credit repair" companies really don't help. In fact, you can improve your credit more effectively on your own. By using credit repair companies, you may also be opening yourself up to identity theft, unsolicited emails, and direct mailings. Protect yourself; don't ever ...

A Better Way To Watch Your Credit Reporting

Admin — Mon, 10 Jan 2005 22:54:06 -0800
A Better Way To Watch Your Credit Reporting by: George M Noceti Are you a victim of any credit card fraud or identity theft? Then you definitely need an enhanced defense from those menaces. You can get superior security from http://www.gotocreditreport.com. Actually, those financial offenses take place due to the lack of knowledge of your personal credit status. But, with GotoCreditReport.com , you will get an in-depth analysis of your personal credit with speed and accuracy. Thanks to our comprehensive credit service, we will relieve you from credit worries.

Improve your Credit Score - Facts, Information & Tips to Improve your Credit Score

Admin — Mon, 10 Jan 2005 22:48:12 -0800
Top 5 Credit Misconceptions We have all heard the rumorsfrom neighbors, relatives or friends. There are a wide variety of myths floating around about what you should and shouldn't do to improve your credit reports and credit scores. The buck stops here! TrueCredit has exposed these urban legends to provide you and your informers with the truth about credit:

Free Credit Reports From The Government

Admin — Tue, 28 Dec 2004 05:58:08 -0800
The Federal Trade Commission (FTC) has set up a new website (www.AnnualCreditReport.com) where US residents can obtain free copies of their credit reports from the three major credit report bureaus (Equifax, TransUnion and Experian).

Rebuilding Better Credit Score

Admin — Wed, 22 Dec 2004 03:13:33 -0800

Rebuilding Better Credit
by: T.B. Collins

Today, good credit is the one constant necessity needed to succeed in any endeavor, from starting a new business venture to purchasing a home. Without having established prior good credit and maintaining this status, re-establishing decent credit can be a very difficult task. The need for credit and a good credit history is further enhanced by the internet, considering that a large majority of credit card transactions are conducted on the net, it is almost imperative that consumers have a valid major credit card. Yet in the modern world a vast number of consumers ...

Credit Score Help » Boost Your Credit Score

Admin — Mon, 20 Dec 2004 00:02:07 -0800
Credit Score Help » Boost Your Credit Score

What Are Consumer Reporting Agencies

Admin — Mon, 06 Dec 2004 19:37:42 -0800

The Fair Credit Reporting Act (FCRA) as amended September 30, 1997, regulates the activities of credit reporting agencies. (U.S.C., Title 15 Sec.1601.)

A credit reporting agency, also known as a credit bureau and called consumer reporting agency under this law, means any person or business that assembles or evaluates consumer credit information for the purpose of providing consumer reports to third parties.

Under the Fair Credit Reporting Act, consumer means an individual. You, as the person whose credit is being reported, are the consumer.