Admin Manager - Sunday, November 12, 2017
The three major credit bureaus are important to contact if you are going to be repairing your credit score, but why? The major three credit agencies can help you by sending you your credit report.
If you catch an error on your credit report, these are also the companies you´d want to contact in order to correct the issue. You can easily contact these organizations by telephone, or through an email:
Equifax Credit Information Services, Inc Address: P.O. Box 740 ..
Admin Manager - Sunday, October 15, 2017
The most widely used credit score is the FICO Score, but, what is it?
The FICO score is a mathematical model that is used to depict a consumers' risk of going 90 days late on an account within the following year. Lenders use the FICO Score to help them make credit decisions every day.
FICO calculates the FICO score based only on information in consumer credit reports maintained at the credit reporting agencies. FICO credit scores range from 300 to 850.
That FICO Score is calcula ..
Admin Manager - Wednesday, August 30, 2017
It is easy today to apply for a store credit card that you forget all about in a few years – but that account will remain on your credit report and affect your credit score as long as it remains open. Having credit lines and credit cards you don’t need makes you seem like a worse credit risk because you run the risk of “overextending” your credit.
Having many accounts you don’t use increases the odds that you will forget about an old account and stop ..
Admin Manager - Friday, August 25, 2017
Getting online loan rate quotes is really easy, you can type in some personal information and you can get a quote on your car loan, personal loan, student loan, or mortgage almost instantly. This process is free and convenient, leading many people to compare several companies at once in order to make sure that they get the best deal possible.
The issue is that since online quotes are a fairly recent phenomenon, credit bureaus count each such quote estimate as an “inquiry”. W ..
Admin Manager - Friday, August 11, 2017
When you have a lot of debt, your credit score will suffer. Paying down your debts to a minimum will help elevate your credit score. For example, if you have a $1000 limit on your credit card and you carry a balance of $900 often, you will be a less attractive credit risk to lenders than someone who has the same credit card but carries a smaller balance of $100 or so. If you are serious about improving your credit score, then you can start with the largest debt you have and start paying it d ..
Admin Manager - Wednesday, July 26, 2017
Few people know that when someone takes a look at your credit report that inquiry is noted. Having a lot of inquiries on your report, may show that you’re shopping for several loans at the same time – or that you previously have been rejected by lenders. Both make you appear a poor credit risk and can negatively affect your credit score. Therefore, it is recommended that you’re careful about who looks at your credit report. In case you’re shopping for a loan, show ar ..
Admin Manager - Monday, July 17, 2017
People believe that having no credit cards, not owing money, and, basically, avoiding anything related to credit will improve their credit score.
Well, the opposite is the truth - lenders want you to show them that you can handle credit, and, of course, the only way they can notice is if you have credit that you handle correctly. Having no credit at all can be worse for your credit score than having a few credit accounts that you pay off conscientiously.
So, if you currentl ..
Admin Manager - Sunday, July 09, 2017
By simply paying your bills on time you’re already improving your credit score. That sounds ridiculously simple but it really works, because paying promptly shows lenders that you take debts seriously.
Paying your bills on time increase the odds of you making the payment on a new debt on time as well, and that is definitely something a lender is interested on. In fact, according to experts, up to 35% of your credit score is based on how often you pay your bills on time, this easy ..
Admin Manager - Tuesday, November 01, 2016
The Federal Reserve has raised interest rates substantially over the past two years. Consequently, credit card annual percentage rates have followed suit. Nearly all credit cards tie their interest rates to the prime rate, which has doubled to 8% from 4% during the string of rate hikes that began in 2004. This has led to interest rates on credit cards rising by 30% or more. Since August of 2006, the Federal Reserve has kept interest rates steady and many economists believe the next move may be a ..
Admin Manager - Tuesday, October 25, 2016
During the days when the Federal Bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge credit cards up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this ..