Fast and Easy Credit Tips to Boost Your FICO Score — Jan 2008
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How to Use the Internet for Identity Theft Prevention — Jan 2008
Identity theft is a nationwide epidemic and the U.S. Department of Justice Statistics states that the crime is passing drug trafficking as the number one crime in America.
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How Sharing Revolving Debt Can Save Investors Thousands
The two largest components in a FICO credit score are Past Delinquencies (35%) and the Revolving Debt Ratio (30%). Last month, we learned how delinquencies can significantly lower a credit score and to what degree. Moving on to the revolving debt ratio, we will discover how we can use credit cards to share debt and boost our scores.
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Don’t Fall into Post-Holiday Credit Card Debt
The Holiday spirit tends to convince many people to overspend on their credit cards, which is a great bonus for the credit card companies and bad for us! Do not let this happen to you.
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How to Successfully Read a Credit Card Statement
Step one in building good credit is to apply for a credit card that suits you, whether it is a gas, department store, rewards or cash back card. Next is to pay your bills on or before the due date. But if you do not understand the statement, then you might not be paying bill correctly and can fall into bad credit, which may cost you tens to hundreds of thousands of dollars over your financial lifetime.
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Use Business Credit Cards to Help Your Small Business
Business credit cards can be an easy and effective way to help you smooth out business expenses, build credit for larger loans, access various resources and gain substantial rewards. For those of you who plan to start a small business, you should know that raising capital can be difficult especially during the startup period.
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Prepare Yourself for the Upcoming Credit Crisis
The mortgage industry has fallen victim to a credit crisis and borrowers need to prepare themselves for the months to come. If you are planning on refinancing your home or investment property in the next year or two, there are a few important factors you need to know.
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Three Small Credit Score Factors to Guide You to Financial Safety
In previous articles, I have talked about the two main components that affect your credit score, Past Delinquencies (35%) and Revolving Debt Ratio (30%), but know that these are not the only ones.
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How to Use the Internet for Identity Theft Prevention
Identity theft is a nationwide epidemic and the U.S. Department of Justice Statistics states that the crime is passing drug trafficking as the number one crime in America. Do yourself a favor and use the Internet to protect yourself from identity theft. Most ID theft criminals are repeat offenders.
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New Credit Freeze Laws: How They Can Help or Hurt You
Recently TransUnion and Equifax, two of the three credit bureaus, have announced that they will allow consumers to freeze credit reports and scores in all U.S. states. There are hopes that Experian will soon follow. However, freezing credit prevents most lenders from distributing new credit to the consumer because this information is necessary in the lending process.
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How College Students Can Build Credit and Get a Free Lunch
Many credit card companies will team up with restaurants, pizzerias, sandwich shops, etc. around college campuses to offer students a free lunch for signing up for their
credit card.
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5 Ways to Protect Yourself from Identity Theft
Identity theft is one of the fastest growing problems in the US. According to the Identity Theft Research Center, there were 15 million identity theft victims in 2006 which is about a new victim every 2 seconds! In 2004 victims of identity theft spent an average of 330 hours often spanning over years to recover from this crime.
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How to Manage Your Credit Score When in Escrow
Credit scores are constantly fluctuating and you want your score to be as high as possible before you close escrow. The last thing you want is for it to decrease and cause your interest rate to shoot up or cause you to lose the property before the closing date.
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Most Common Credit Myths Revealed
Myth: My credit score and the information on my credit report can’t change.
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The Many Faces of a HELOC
A HELOC is a home equity line of credit, which is basically a big credit card with mortgage tax deductions where you can borrow, pay down and repeat. They are versatile and useful lines of credit, allowing borrowers to use the money for a multitude of reasons.
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Your Credit Score Can Save You Thousands of Dollars or More!
Do you want to buy a car, a home, a boat or any other large purchase? Well, most people decide to use a loan for each of the above.
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Why You Shouldn’t Have Joint Accounts
Some married couples believe that having joint credit card accounts will make paying off revolving debt easier when in fact, joint accounts can damage credit scores and leave both husband and wife in financial distress. Separate credit gives each party financial freedom and the ability to transfer debt if necessary.
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Easy Steps to Rebuilding Your Credit after Filing for Bankruptcy
Filing for bankruptcy can leave a person and their credit confused and devastated. However, there are many ways to rebuild your credit even after bankruptcy. Here are a few tips that will help you increase your credit score and put some basic worries to bed.
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Credit Cards for College Students - What You Need to Know
As Pink Floyd said, "Money, it's a gas. Grab that cash with both hands." This is exactly what the credit card companies want the younger generation to do - grab it and use it. What most students often forget is that "buy now" still means "pay" whether that is now or later. Here is some advice to help out college students build credit safely.
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How Past Delinquencies Can Ruin Your Credit
It is never too late to repair your credit. The first place to start is with past delinquencies. These are one of the most common causes of bad credit and are the largest component (35%) in determining your credit score. Therefore, they are a big key in making or breaking your credit score.
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Authorized Users Beware Come September
If you are an authorized user on someone’s credit account, be aware because the FICO rules are changing. You could end up with worse credit than before.
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How Long Delinquencies Stay on Your Credit
Don’t get caught thinking that your credit is fine after you’ve paid off charge-offs, late payments, tax liens, etc. Delinquencies on credit reports can stay for a long time. There are various degrees of credit delinquency, some more serious than others.
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Revitalize Your Credit with Revolving Debt
If you want to improve your credit score, the revolving debt ratio is one way to boost you to the next level. There are several ways to use credit cards to your benefit. And because the ratio is the second largest component in a FICO credit score (30%), it is important for maximizing your credit power.
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How You Can Save Money by Having Better Credit
Keeping your credit in good health is very important for your financial future. By being on time with your payments and building a substantial credit history, you could save up to tens of thousands or even hundreds of thousands of dollars over your lifetime.
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What’s the Score on Your Credit?
A credit score can make or break the future of your borrowing status. It is important to know what it is, where you stand and how to prevent bad credit. A credit score predicts the statistical chance of a consumer being 90 days late or more on a particular loan obligation over the next two years.
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How You Can Use Credit Limits to Raise Your FICO Score
A high credit limit can help you attain a higher FICO score. Asking for credit limit increases every six months will help reduce your debt ratio and make fertile ground for a better credit score.
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