Never pay for your Credit Score or FICO Score
Never pay for your credit report or credit score! Why pay for something that you can get for free?’
Yes you get to get your credit report from the three credit bureaus every year. Watch this video and learn more.
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Credit Score Tips
Truth be told, when your credit score is not very pretty, you’re actually on a downward spiral. You can fix this by raising your credit. However, you need not get help from any credit repair agency. You can do it all by yourself. I’ll give you some tips in boosting your own credit score without having to shell out extra cash for the credit repair companies.
What is a Good Credit Score
Your credit score refers to the 3 digit number assigned to consumers as a convenient way for lenders to understand how credit worthy a certain person is. It is typically utilized in order to help these lenders decide whether you qualify for credit and what the associated interest rate will be.
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A Good Credit Score – The Key To Cheap Financing
Dodging bad credit is a struggle people go through on a daily basis. They pay their bills on time by working their tails off. They hold out on their wants so as to pay interest on debt just to get good credit. This is a struggle to dodge bankruptcy or home foreclosure. However, is good credit really worth all the effort?
Turns out, yes! Watch this video.
I have tried applying for loans and cards. How can I fix my credit?
Question by ravenous_person: I have tried applying for loans and cards. How can I fix my credit?
I’m gonna get a Verizon phone, will a cell phone fix the bad credit I have? The loan I applied for said I had “no established credit” But I did have something in collections. It is listed as Paid.
Best answer:
Answer by Cold
Cell phone do not report your payments to the credit bureaus.
Therefore they do not bring any benefit to your credit.
Consider getting a secured card.
You drop about $ 500 to $ 1,000 into an account and get a debit card to use against it.
Replace the money in full each month – no games.
Only a small percentage of these cards are turning into credit cards.
People that get them usually have bad credit, and can’t seem to be able to pay in full each month for what they use.
Use it wisely – it will reward you with good credit in a couple of years…
Know better? Leave your own answer in the comments!
Q&A: How do I build credit when I don’t have much?
Question by Heather: How do I build credit when I don’t have much?
I am trying to build credit, but no one will give me a credit card. I have a car loan in both my husband and my name and we always pay early, but that doesn’t seem to be enough. When I apply for credit cards they always say “insufficient credit”. How do I go about building credit and getting a credit card?
Best answer:
Answer by Kath6
You might try joining a credit union, if you can, and open a checking or savings account. After you’ve been a good customer there for awhile, you may be able to take out a small personal loan for something. (When my son was 16, he got a loan for $ 400 to buy a drum set.)
Another way you can get credit is to get a secured credit card. First Premier Bank is one such card. You have to basically put an amount of money up front and then you use it for small amounts, say $ 20 or so and pay it off every month. You’re really using your own money, but it shows that you’re responsible and a good credit risk. The catch is, you must repay it on time every month. You don’t want it to grow and not be able to pay it off. Only charge a very small amount each month. After a few months of doing this, your credit will improve and they may offer you a better card. But, be careful. Credit cards are very dangerous to use. If you absolutely cannot pay off whatever you charge every month, do not use it! Remember that your credit score is very important. It is the key to getting good interest rates on car loans and mortgages. Safeguard it well. The sources below will help you more. Good luck.
What do you think? Answer below!
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Q&A: can i get my credit score up if its REALLY low?
Question by : can i get my credit score up if its REALLY low?
Like if I overdrafted my bank never payed them then would my credit score go down? im 16 my mother is also on the account would my credit get ruined before i was 18? if so how do i get it up like can you actually get your credit score up? is it hard?
Best answer:
Answer by Johnny A
Dude especially now it’s hard because the banks aren’t lending that much, but it’s possible to get a joint credit card with your mother as a co-signer, like a student visa credit card. Your mom is joint on your bank account so if you overdraft your card, she pays for it or it messes up her credit. Same goes if you get a co-sign credit card. You might be able to get a credit card if you have a part time job, it’s known sometimes as a signature line of credit. If you owe money under your name, your only credit will be bad credit. Bad credit doesn’t drop below a score of like 400 i think. Good credit is around 700. Very good is 800+. Right now if you did a credit report with nothing negative like money owed to banks, or have a credit card or car, or loans, you would have what they call a “thin record” or “no data or score” Hope that makes sense. There are also 3 major credit beaureus that banks and collections report payments to Transunion, Experion, and Equifax.
Know better? Leave your own answer in the comments!
What Having A Good Credit Can Do
Apparently, having a good credit is your ticket to a lot of opportunities like getting approved easily for a mortgage, getting a car, getting yourself into post-secondary education, or opening your own business. Creditors will feel assured when lending you money since they will consider you as reliable and credible. Such lenders will be more willing to give you very reasonable interest rates in the event you apply for a loan.
Additionally, with good credit, you can also earn reward points on credit cards which you can redeem in exchange for other stuff like cash or trip discounts. It depends on whatever account you have.
Plus, what makes a good credit beneficial is that credit card companies will most likely permit you to have pretty much higher credit limits. If you want, you can even have as much as $25000 credit in your card. Suffice it to say, you must always be watchful of your high credit limit. Just because you have a lot of credit available doesn’t mean you have to stop living within your means. If you don’t have the money in hand to cover it, you will be in trouble when the monthly bill arrives.
But if your credit rating isn’t really pretty, you can always raise it. There are companies that are willing to help you boost your score. Ask around and investigate first before signing up for a certain company, considering scams are rampant these days.
When you are finally sure and confident in a particular company, contact them and inquire about what they can offer you. Settle the necessary things to remedy your financial trouble while seeing to it that your budget will cover it all.
It might take some time and effort but it will all be worth it when you can reap the benefits after doing so. Yes, it may be very alluring to borrow money if you can, but always remember that the less credit you have available, the less you will be tempted to spend.
Related Good Credit Articles
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If you pay the full balance on your credit card each month do you still…?
Question by dk: If you pay the full balance on your credit card each month do you still…?
If you pay the full balance on your credit card each month, does this help to build up good credit history or score?
Best answer:
Answer by message_board_ceo
You can’t pay off debt if you don’t have debt. According to FICO, the most effective way to raise your score is to pay debt. Chase, Discover, and MBNA (now BofFA) all confirmed this by advising me to charge a small amount and paying it ALMOST entirely (leaving a small $ 3-5 balance). This would show I was an extremely low credit risk, thereby boosting my FICO score.
So I tried this method using 3 sock drawer cards, each with a credit line in excess of $ 10k. I would buy a tank or two of gas, small grocery purchases, etc. under $ 100 on each per month, then pay off 95% of the balance. My score shot up from the low 700’s to 755 in a matter of 3-4 months. Mind you I had very little outstanding debt on any of my other cards. Don’t believe me? Try it, because it most definitely will improve your score.
One more thing, keeping a card with $ 0 balance, not using it for extensive periods of time used to be a good thing but is a big NO NO these days. Why? Because creditors are very freaked out by unconsumed lines of credit that are potential sitting ducks for turning into delinquent accounts. Furthermore, unused cards are having their credit lines slashed substantially, thereby reducing your available credit, which is a major factor in FICO’s score. Expect your score to take a nosedive when Chase or Amex decides to cut your unused 10k credit line in half because you didn’t even need $ 5k, so why should they give you $ 10k?
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My credit score is 737. What should i expect for an APR on a new car?
Question by syrendyr: My credit score is 737. What should i expect for an APR on a new car?
i’m looking for a 2010 SUV and I don’t want to have anyone run my credit and ding it before am 100% about what i want to get.
Also: What is a good SUV for gas mileage?
Best answer:
Answer by Toni
Is that a FICO score? If so that is a great score.
From Money Magazine.
Scores higher than 740 to 760 are really not necessary.
You will get the best rates with these.
You are so close.
Make sure any credit card you have is paid in full each month to bring that score up.
Or at least make sure you are not using more than 30% of your available credit limit.
Carrying balances on credit cards can easily damage ratings.
There are some poeople out there with scores of 800 just with credit cards – it can be done.
Credit.com Credit Score Calculator
Fico Score Estimator.
You must pay in full each month for those top scores.
Note: Many experts on CNBC are predicting gas to hit $ 4 a gallon this summer – some $ 5 a gallon.
These are professionals that study the markets day in and day out.
We just bought a little cheap new car because we know this is coming and things are going to get rough, very rough. Please ponder this just for a few minutes – the future could be bad, very bad when it comes to gas prices…
Give your answer to this question below!