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Whats Your Credit Score?
if you don?t know what your credit score is, it is high time that you learn! this lone number is the biggest determination for lenders to decide whether you are or are not credit worthy. not only do credit card companies use your credit score to determine whether they should issue you a card or not, but so do car dealerships, banks, and even mortgage lenders. you need to know what your credit score is.
but, where can you learn just what it is? once a year you can pull a credit report on yourself from one of the credit reporting agencies. this information will provide you with what your credit score is as well as what led to it being that number. on the report you will find your creditors, all of those that have issued you credit within the last several years. how well you pay them and what you owe on them will determine your credit score.
of course, you will want your credit score to be high. but, many people go about this the wrong way. they often think that the more credit they have, the better. or, others think that they shouldn?t use any credit. both of these things are wrong. you should have some credit so that you can qualify for credit later on. but, too much credit can lead you to less ability to manage it. in order to maintain a high credit score, you should have some credit, pay it on time and don?t carry a high balance on it monthly. the combination of these things will provide you with the credit score you deserve.
work on your credit score in that manner, but realize that you should check it yearly at the very least as well. you need to insure that the creditors are reporting your credit accurately. you also need to insure that no one is applying for and getting credit in your name. when you do these things, your credit score will show companies that you are worth the risk.
ken austin is the webmaster at http://www.freeroller.net/messageboard/mbs.cgi/mb10255and http://www.myfinanceconnection.com/
article source: http://ezinearticles.com/?expert=ken_austin
Tips to Repair Your Credit and Prevent Credit Problems
have you looked at your credit report lately and noticed that it is in need of repair? it?s said that over half of all americans could improve their credit report, if they would only do some very simple things.
what can you do to repair credit?
contact a credit repair professional
credit repair companies can assist you with the process of checking your credit report regularly and providing assistance by contacting credit reporting agencies about any errors or corrections. in addition, they can provide assistance for planning for repair.
a credit repair professional is on your side and works with you when it comes to credit repair. their objective is to help you obtain your financial goals.
how can you find a reputable credit repair company? the first step if to find out if they are honest with you about the services they provide. the more willing they are to plan and talk to you about your credit, the more likely they?ll be there to help you with future questions.
it is also a good idea to get recommendations from others. testimonials from other clients can give real life examples of what the credit repair company can do for you.
in all, if you feel comfortable with whom you are working, ask them about a plan and a proposed amount of time in which your credit can be repaired. if it sounds reasonable and you are happy with the way it is presented, then the chances are the credit repair company is a good fit for you.
put your credit cards away to assist in your credit repair
when your credit is being repaired you shouldn?t cut up your credit cards or close the accounts. if your credit is bad, you may not be able to gain additional credit cards later. instead, keep them and at the very least pay the minimum amount each month.
your payments to such a credit card will help you repair your credit score. it will also leave your credit card accounts open incase of emergency.
however, don?t use the credit cards while you are trying to pay them off. put them away; leave them at home in case you?re tempted to use them. this will prevent making the situation worse.
tell your credit repair company about your plans ? create a plan
your credit repair company will want to know if you?re thinking about getting a loan. they can review your reports and set up a plan of action if your credit score is in need of more repair before you apply and get rejected.
you?ll save yourself a lot of time and trouble if you?re open with your credit repair company about all your needs.
in addition, your credit repair company should be able to provide some sort of action plan for general repair and boost of your credit score. if you?re not thinking about loans and credit cards now, you may be thinking about them in the future and you?ll want to be prepared.
if you are confused about credit repair of have any questions or concerns, contact someone at a credit repair company for assistance. it?s their job to help you reach the highest credit score you can get.
lee harrison owns and runs a fully licensed, registered, and bonded credit service organization located in naples, texas. they have specialized in helping people repair and restore their credit history due to bankruptcy, bad credit, or identity theft for over 29 years. his website is http://www.freeroller.net/mbs.cgi/mb463059
article source: http://ezinearticles.com/?expert=lee_harrison
Stop Wasting Money Each Month On High Credit Card Interest Payments
do you know what your credit card is truly costing you and how to lower credit card interest rate? many people assume that they do, but aren?t familiar with the hidden fees that many credit card companies are charging.
in fact, if you don?t keep close tabs on your credit card, you may end up paying hundreds of extra dollars per year?without ever really knowing it!
and if you?re trying to budget your money, those hidden fees can add up!
let?s take a look at some of the most common credit card fees, and then talk about how you can avoid them.
grace periods
in the past, we could always count on grace periods before we ever had to start paying interest. for example, if we charged our card to the limit, and could get it paid off before the grace period expired, then it would be like a free loan?we wouldn?t have to pay any interest.
unfortunately, the credit card companies are making this harder and harder to do. for starters, many of them have reduced the traditional 30 day grace period to 20-25 days. if you hold a credit card, but didn?t realize this, then you?re likely paying interest without even knowing it!
what?s worse is that more and more credit card companies are eliminating grace periods altogether. that means if you charged lunch today at noon, at 12:01 pm, you would be already paying interest on it.
how about your credit card? you need to take a close look at the fine print and find out what kind of grace period you have. if your credit card company has reduced it significantly, or eliminated it altogether, you should seriously consider canceling it and getting a more user-friendly card.
late fees
when is the last time you checked to see what amount your credit card company charges you for a late fee? the truth is that these fees have doubled in just the past ten years, and that, combined with the reduced grace period, means that the credit card companies are raking in a lot of dough on late fees!
if it?s possible, you should try and send off the check (or electronic transfer) the day that you receive your credit card bill. there are three reasons why it?s important never to be late.
the first is obvious; you will want to do everything in your power to avoid a hefty late fee. next, if you are late, it will likely be reported to the credit agency and you will have a bad mark on your credit report. the third is the direst, and we?ll discuss it below.
interest rate hikes
did you know that if you are late--even one time?on your credit card payment, the company will in all likelihood raise your interest rates? that?s right; one late payment gives them the right to do it.
what?s more, that isn?t just limited to your credit card payment. any late payments from any lender that show up on your credit report gives them the justification to raise your rates, so be careful!
why continue to pay high charges and interest rates at 15-20% when it is so easy to find 0 interest rate credit card offers for periods of 12 months for balance transfers and purchases.
not only can you find a 0% apr introductory offer, but you will also find cards that include reward offers. most people are aware of the air miles reward offers, but you can also find cards with rebates for gas and supermarket purchases and a host of unique product offers.
it is crazy that we can continue to waste huge amounts each month on interest payments. i suggest that you take action today to get a grip on your credit card charges.
jeff brown is the writer of many articles on personal finance and credit card use.
for more information on how you can get a grip on your credit card charges, please visit: http://www.freeroller.net/mbs.cgi/mb585676
article source: http://ezinearticles.com/?expert=jeff_brown
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