Posts Tagged: Credit Report

Credit Score — No Comments
14
Aug 09

Tips on How to Improve your Credit Score

So you can’t get a loan. It was probably your credit score that clinched the deal to the wastebasket. You see, when you apply for a loan, financial institutions and lending companies look at your credit score for guidance. People with low credit scores are more likely to be rejected for a loan or at best be given a small amount for a loan, with a high interest rate and a shorter time frame to pay the loan.

In contrast, people with high credit scores are given higher amounts of money for a loan, lower interest rates and longer time frame to pay the loan. This is because people with a good credit score are perceived as less of a risk, more responsible, more able to handle their finances and worthier to be given a loan.

Here are some tips that can help you improve your credit score.
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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 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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Credit Report / Credit Score — No Comments
30
May 09

How to Get a Copy of My Credit Report

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A lot of people ask us, ‘How to get a copy of my credit report?‘ There are many things in life these days that require having a good credit score, including applying for a loan, renting an apartment, applying for credit cards and even certain jobs. If you are thinking of taking out a mortgage you should definitely check your credit score before you start looking at real estate even if you never had any debts in your life. You may find some surprising things on it.

A credit report contains a person’s credit score or rating and all of their credit history. It shows whether a person has missed payments on a credit card or loan, whether payment of certain bills was made on time, and any outstanding debts such as unpaid court judgments and tax liens. Of course bankruptcy also shows up too.
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Credit Score — No Comments
13
May 09

How to Protect Your Credit Score: Active Prevention of the Bad Guys

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If you have read any of the other articles on this website or have seen the news, you know that it is very easy to steal someone’s identity or credit cards. This fear of the unknown prevents many from using credit at all because they do not know what may or may not happen. You should be cognizant of these problems but do not let it affect how you live your financial life. If we lived in fear of everything that could happen, would we ever leave the house in the morning? Knowing and understanding this is important but there are certain steps you can take to make it as hard as possible to for the bad guys to get a hold of your identity. This article will give you three main pointers on protecting your credit score through active prevention of the bad guys.

The first pointer for active prevention of the bad guys is to sign up for identity protection. This is a key and does not cost a great deal of money. If you are single, it often costs you under ten dollars a month or if you have joint credit, you will pay about fifteen dollars a month. This particular product offers you the opportunity to check your credit report as often as you want to and does not have specific times you can do this. You can do this from the comfort of your home twenty four hours a day, seven days a week. There is fraud assistance of up to $25,000 if your identity is stolen. Continue reading →