Q&A: What is the fastest way to raise your credit score?
Question by thetravelingmartins: What is the fastest way to raise your credit score?
My husband and I hit a financial hard spot about a year ago. Since then we have worked hard to catch up on all our bills and pay them on time. We would like to buy a house in about 3 years. (We own a condo at the moment) Would 3 years be long enough to raise our credit scores? Other than paying our bills and paying off some of the balances that we owe is there another way to raise our credit scores? We plan on keeping our credit cards once we get them paid off because we were told that as long as we charge something once a month and then pay that off every month it will help with our credit score. Any other advice?
Best answer:
Answer by jgrantspecial
One good thing you can do is go to the bank and open a savings acct with $ 100-200. Then go to the loan officer and ask for a loan with a min. payment period of 1 year for the min loan amount. Tell them to put the loan money into your savings then freeze the money plus 2 payments of your savings. They will not turn down anyone for a loan this way. Then make double payments on time or early, but never late. Do this at 3 different banks and after they are all paid off you’ll have much better credit and 3 credit referrals.
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Categories: Credit Score Questions Tags: Credit, fastest, Raise, Score
CREDIT REPAIR: What to Do to Make Your FICO Score Soar Reviews
CREDIT REPAIR: What to Do to Make Your FICO Score Soar
In this uniquely revealing and instructive ebook, “CREDIT REPAIR: What to Do to Make Your FICO Score Soar,” you will discover easy-to-follow tips to greatly improve your credit score and your chances for success. Since a low credit score could cost you the job or home of your dreams, having an acceptable credit score is extremely important.
In this uniquely revealing and instructive ebook, “CREDIT REPAIR: What to Do to Make Your FICO Score Soar,” you will discover easy-to-follow tips to greatly improve your credit score and your chances for success. Since a low credit score could cost you the job or home of your dreams, having an acceptable credit score is extremely important.
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Uplift your Credit Score
These are just a few things that can give a negative score to your credit standing:
– Unpaid mortgage
– Tax liens
– Foreclosure
– Bankruptcy
– Past due accounts
It is a common fact that in this time of economic depression, millions of people are losing their good credit standing. It has become a global trend and even if lots of people are being affected by the global economic crisis, no one wants to be in a situation wherein his/her cannot handle debt and finances. Bad credit sends a negative repercussion to future investors and creditors and even amidst an inevitable financial crisis, everyone does not want a negative remarks on their credit report.
A consumer credit report can be obtained by any of these three major credit report agencies: Equifax, Transunion and Experian. The credit report is free of charge to consumer for only once every year.
Subsequent request for credit report is charged for a certain fee.
The first and foremost thing that most people should understand: in order to avoid negative rating on your credit score, you need to pay your bills on time. As much as possible, make it a habit to pay ahead of the due date in order not to incur finance charges or late payments. As a rule of a thumb, it is very difficult to trust people and companies posing to help you with your credit payments. It is still the best thing if you pay on time and on over the counter or arrange for an auto-debit of your loan payments.
It is also of great help if you curb your expenses and go down with only with the basics. A lot of people are drowned in debt due to their excessive shopping and whimsical things they wish to have.
On the other hand, if damage is already present in your credit score, you certainly need to repair it either through your own effort or through the help of credit repair agencies governed by the federal rules and regulations regarding credit repair. One should exercise extreme caution in these types of agencies posing to take care of your debts by debt collections payments from you.
Are you looking for more information regarding mortgage? Visit www.nationalcreditfederation.com today!
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Categories: Credit Score Articles Tags: Credit, Score, Uplift
Q&A: How will an increase in salary affect my credit score?
Question by kamui r: How will an increase in salary affect my credit score?
I understand that credit score isn’t necessarily based on income but here’s my situation. I have about 16,000 in revolving debt with a 600 credit score. My yearly income has recently increased 10 fold which obviously improves my debt to income ratio. How long after this increase should I see improvements in my credit score and by how much. Also what triggers the credit bureaus that this increase in income has occurred?
Best answer:
Answer by Nikki Monique
It won’t because your salary is not suppose to be reported to credit bureau. If you want to make your credit score high never exceed 70% of your credit limit on the credit cards and no matter what pay your bills in time.
Know better? Leave your own answer in the comments!
Low Credit Score Loans
Have you been faced with a situation where your bad credit rating has been constantly affecting you? You might have applied for a mortgage loan or even a car loan and found that your credit was too bad to be approved. Even landlords are starting to do credit checks on potential tenants, which means a bad credit rating can affect all aspects of your life. Luckily there are still some ways of getting low credit score loans.
The first type of loan that is easiest to get if you have poor credit is a payday loan. Sometimes known as cash loans, these loans don’t depend on the borrower’s credit rating. Lenders only care about the borrower’s income and their ability to pay back the loan. To apply for a payday loan you should have a steady income with proof of employment for at least six months. You should also have a valid bank account with your paycheck being deposited bi-weekly into the account.
The downside of payday loans is that they are over a very short period.
This means if you need access to cash, but can’t afford to pay it back within 2-4 weeks, this loan not for you. Another down side is the interest rates they charge can often be quite high. This is because it is over such as short period and lenders are looking to make a return on their investment.
Another type of loan that is available for people with poor credit scores is a personal secured loan. A secured loan is a loan that is back with collateral. If the borrower fails to pay the loan, the banks will go ahead and seize the collateral. These loans give banks less risk when dealing with poor credit customers, making them more likely to give low credit score loans. Secured loans also have a better interest rate than payday loans and are taken over a longer period of time.
If you have a Low Credit Score, then you should look lenders who specialize in Bad Credit Loans to get your loan approved.
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CREDIT REPAIR: Step-by-Step-Guide – Improve Your Credit Score Fast
CREDIT REPAIR: Step-by-Step-Guide – Improve Your Credit Score Fast
David Hollis knows first hand what it takes to repair credit and improve credit scores! He has literally looked over thousands of credit reports in his career as a mortgage professional, and has found what works and doesn’t work in credit repair and improving credit scores.
At last a book that not only tells you what needs to be done, but more importantly, in a step-by-step manner, explains how to actually do it. You will be amazed at what you can accomplish in a short period of time as you implement each ‘Action Step’ that applies while going through each section of the book. The book is laid out in 5 easy to read sections in lesson plan format so that you can achieve a clean credit report and improving credit scores in the simplest and quickest way possible. The best time to begin repairing your credit report and improving your credit scores is now, and this book will help you get started today!
David Hollis knows first hand what it takes to repair credit and improve credit scores! He has literally looked over thousands of credit reports in his career as a mortgage professional, and has found what works and doesn’t work in credit repair and improving credit scores.
At last a book that not only tells you what needs to be done, but more importantly, in a step-by-step manner, explains how to actually do it. You will be amazed at what you can accomplish in a short period of time as you implement each ‘Action Step’ that applies while going through each section of the book. The book is laid out in 5 easy to read sections in lesson plan format so that you can achieve a clean credit report and improving credit scores in the simplest and quickest way possible. The best time to begin repairing your credit report and improving your credit scores is now, and this book will help you get started today!
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Categories: Credit Score Products Tags: Credit, Fast, Improve, Repair, Score, StepbyStepGuide
Average Credit Score Tips
The reliance of making transactions through credit has been widespread from the late 80’s. This way of completing transaction grew wider and wider to what it is today. This expanding reliance made the major bureaus employ a scoring system. However, this system was developed three decades even before it came into major use. In the late 1950’s, Earl Isaac, a mathematician, and an engineer, Bill Fair, formulated a system that rates a person financial performance.
Today’s system is being used more than ever since its formulation. This system is based on your performance when it comes to managing both your debts, both long-term and short term, and as well as your bills, and applications for credit cards. Much to the misunderstanding of most people, the scores that are being given by this system are not reviewed by creditors in terms of absolute figures. Instead, they review your score based on relative terms.
Meaning they decide whether they should give you a higher or a lower rate of interest based on your distance from the average credit score. The average score varies according to its scope of calculation (be it from country to country, city to city, or from state to state). This is to say that if the scope of calculation were just in the state of South Dakota, the average credit scores would be different, than it would be if the average would be calculated based on Iowa.
This is where knowing your own score and the average score comes in handy. By knowing your own score and by comparing it to the average, you will be able to budget your income. By doing this, you will also be able to determine whether potential creditors would say that you have a good credit score or not.
It would also help you determine how high or low your interest rate would be should you apply for a loan. A major misconception of most is that the average credit score is always computed by total score over the number of factors. Most of the time, the average score is the median of all the scores on a given state. Meaning, the average rating is the score where there would be equal number of people with higher ratings and lower ratings.
As of now, the latest reported national average credit score by FICO is 728. This means that if you have a rating of 728, there are some 50 million people with better scores than you are, and there are also 50 million people with lower scores than you have. As of 2008, the state with the highest average credit score is Minnesota with 721 and the lowest is from Nevada, with a score of 668.
Your credit score can easily be improved once you take the necessary steps. By requesting your free credit report you will be able to identify and correct errors, false information and inaccurate listings. This will clean up your report to ensure you have a good credit score.
Theres more where this came from. Check out additional ways to improve a credit score and learn how to get a good credit score.
Looking for even more useful hints and tips similar to this article? Check out our blog or hints and tips page for additional information that will improve your quality of life. http://www.QualityLifeResources.com
Categories: Credit Score Articles Tags: Average, Credit, Score, Tips
What Is A Good Credit Score – Exactly How Important Is It?
Do you know what really is a good credit score?Do you know why having a good credit score is important? Well, this video will answer your questions regarding what really is a good credit score and why it is important.
This video will give you a very much detailed explanation in terms of credit score and loans. You will be educated by watching the important facts related to credit score. Tips will be given for you to reach that good credit score you always wanted. Who wouldn’t want that?
That is why many people are checking on their credit score and applying for loans, not knowing there is a number of simple things you can do to increase your score.
So enjoy and take down some notes. Most of all, be inspired!
My Credit Score
If you are looking t get a mortgage, a car loan or any kind of financing, even a credit card you will not be successful if you do not have a good credit rating and credit score. If you are applying to a bank or loan company for a loan or mortgage these institutions are hesitant to make a loan unless the credit report is pristine. Your chances or obtaining financing are better if your credit report and credit score are clean. In some instances an employer may want to see a clean and clear credit report and score when you apply for a job and the same applies to renting a home or an apartment.
There are three credit reporting companies and anyone that you would apply to for financing will pull a report from either one of these agencies or all three of them. Every time a company inquires about your credit score this is recorded and too many inquiries will hurt your report.
However, this does not apply if you are inquiring about our own credit report. It is a good idea to get copies of your own credit report in order to avoid identity theft.
Getting your own credit report from all three agencies is important because if your credit rating and your credit score are low you can begin to clean it up and bring it up. You can get your report and score from a company that will get the reports free and help you monitor and regulate your credit. You can have financial freedom but you have to use proper management.
Some of the things that will cause you to have a low credit rating is: not paying your bills when they are due or paying less that the minimum amount required, having too many credit cards and keeping the balance on those credits cards high, not using your entire name when applying for credit cards, not checking your credit reports regularly, and not letting creditors know when you have moved.
All of these things will reflect negatively on your credit report.
If you have a low credit score and you are lucky enough to get financing then you can expect to pay a high rate of interest then you would pay if your credit score was higher and your credit report was clean.
Keep a close eye on your free credit score and credit score report. Visit creditscorequick
Richard is a full time internet marketer, with more than 6 years of experience in giving advice to thousands of customers on choosing the best products online
Categories: Credit Score Articles Tags: Credit, Score
7 Steps To A 720 Credit Score
7 Steps To A 720 Credit Score
Learn the seven little-known rules of credit. Turn poor credit into GREAT credit. SAVE hundreds of dollars every single month! In 7 Steps To A 720 Credit Score, credit and personal finance expert Philip X. Tirone will teach you the seven steps for playing the credit game so that you will establish great credit in as little as three months!
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