June, 2009

Credit Report / Credit Score — No Comments
22
Jun 09

How To Remove Wrong Info From Credit Report

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How to remove wrong info from credit report is one of the first things you need to know if you want to improve your credit score.

If there is incorrect information on your credit report it should be simple to remove, but sometimes it can be a long process. The most important thing is to be patient, persistent and business like. Do not give up, but do not write angry letters either.

There are two kinds of information that may be showing wrongly on your credit report. There may be mistakes in either your personal details or the financial information. The way that you deal with both of these is the same.
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Credit Tips — No Comments
16
Jun 09

What Credit Means to You: From a Student to a Grown-Up

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It is always talked about how important good credit is for everyone. You would be amazed how critical good credit is to you when looking at your life. To properly illustrate this, a trip will be taken down your potential life to see where credit can help you or trip you up.

When you graduate from college, you want to move to a new city and live on your own. If you have no credit whatsoever, you must have a co-signer who is willing to co-sign so that you can get a new apartment. If you have bad credit, this may result in being denied on getting the apartment you want to you may have to settle for an apartment in a less desirable part of town.
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Credit Score — No Comments
10
Jun 09

What is a Good Credit Score?

What is credit score? It is a three digit number that tells creditor whether you can avail of a loan at a high or low interest rate. If your credit score is very low, there is also a possibility that your application will be disapprove. Naturally, you don’t want that to happen and this can only be achieved if you have a good credit score.

A good credit score as experts have put it should be 700 or higher. It is not unrealistic to achieve as 60% of the population is able to do it. The only thing you have to do is pay your bills on time which includes credits cards and other loans that you have had in the past. Doing so will avoid incurring any penalties that will be reflected in your credit report.

But how come some people are not able to get a good credit score? It is perhaps because they are unable to pay the money back and many of them continue to accumulate this amount. This happens due to their uncontrollable urge to shop and the interest that grows.
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Credit Score — No Comments
5
Jun 09

What is a Bad Credit Score?

There is a lot of discussion about credit reports and ratings, but exactly what is a bad credit score? Why do some people constantly get turned down for loans while others, who don’t have any more money, are instantly approved with no trouble?

Credit ratings are an important part of everybody’s life these days. Even if you don’t want a loan, your credit score can affect your application for credit cards, apartment leases, and even some jobs. It can also affect anything that involves you committing to monthly payments - auto financing, some insurance schemes, even having a phone hooked up in your house.

FICO or Fair Isaac Corporation is the best known credit score calculator in the USA. The exact mathematical formula or algorithm of the FICO credit calculation is very complex, but it is based on all the financial information they can get about you. This includes your credit history, loan and mortgage applications, missed payments if any, and many other details.
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