It’s difficult sometimes to take a step back and look at your finances from an objective point of view. There are things you want to buy, places you want to travel and taking an honest look at the reality of your money situation may put a damper on all of the fun stuff that you think you can afford if you’re not really looking closely at things. For those who want to get serious about their money, however, and really make headway on their financial objectives, there has to be a reality check and it starts with a credit report.
There are far too few of us who are disciplined enough to really have a handle on our credit report. In fact, we may be surprised to learn what is on our credit report and how it subsequently impacts our financial health. We
Your credit score plays a very important role when you apply for a loan. This is where lenders and creditors determine your financial capability. If you are planning to buy a house, you normally seek for financial assistance. To make you fully understand on how to go through the process of improving your credit rating, consider some of these tips.
When you receive your bills, do you normally settle them immediately? Or you still have to wait for the due date or later than the due date before paying them? For your information, your payment record is included on what constitutes your credit score. A portion of such rating will be your payment history. Thus, you need to learn how to pay your dues responsibly if you want to make a positive impression to the lenders. Read more…
10 Nov
Posted by admin as Repair Credit Score
In the last post I talked about my ignorance regarding my credit report. In fact I had never given my credit report a bit of thought until I was forced to face it after being denied for a mortgage loan. That was when I knew that I had to deal with my finances once and for all. I ordered free credit reports from each of the three credit bureaus – something that I have continued to do every twelve months as is allowable by law. Each of the free credit reports from each bureau gives me insight into what my financial standing looks like to potential lenders and keeps me abreast of changes to my credit score and information that could potentially be linked to identity theft should it occur.
In addition to ordering free credit reports I also began checking out secured credit cards as a way to manage my financial comeback. S
07 Nov
Posted by admin as Repair Credit Score
“My bank recently reduce the limit on my credit card, and I have no idea why. Why would they do this if I’ve never missed any payments before, and how does it affect my credit score?”
This is one of the most common questions we’ve been getting from readers lately, and there are two reasons for it. Recent statistics have shown that roughly 1/4 of all credit card holders have had their credit limits reduced within the last six months. The recession has a lot to do with this. In particular, the mortgage and housing crisis that fueled our recession has caused a lot of lenders to minimize their risks.
Credit cards are a classic form of risk for banks, because they are not secured by any form of collateral (with the obvious exception of a secured credit card). Read more…
Information is the foundation for success in every respect. This is the philosophy by which I run my own business and it has allowed me to achieve success in what I do. I wouldn’t say that I micromanage things per se but I do like to know everything that is going on from day to day – just so that I can stay informed and nothing will catch me off guard.
This is the same philosophy that I apply to my finances although it wasn’t always. As top of things as I am in business it certainly doesn’t make much sense that I haven’t been as educated about my finances over the years; but I guess that this part of my life just took backstage to everything else that I was doing in terms of building my business. I have re
I know that I’m not alone when I say that the last year has been a crippling one financially speaking. I went from making good money at a great job to being unemployed and watching everything from my savings to my investments dwindle in front of my eyes. The job market has continued to be difficult and I just recently was able to find another job after almost a year of being out of work. There’s only so far that severance and unemployment can take you and I am regretful to say that I lived quite a bit on my credit cards. It was my only choice at the time but unfortunately that only helps in the short term because as the balance increased so did my minimum payments and before long I was not able to keep up with them either. I f
pIt’s a story that is told all too often these days. A person with once impeccable credit is now working through hard times, trying desperately to rebuild. When there is a need to regain standing, credit cards for bad credit can assist in the process./p pAlthough they can be hard pills to swallow, secured credit cards and even bad credit loans can serve as useful tools during rebuilding. While interest rates might be higher, the benefits of taking advantage of any offer of affordable credit can far outweigh the disadvantages. To get the best deals, even with bad credit, just compare credit cards closely before selecting one to use in the rebuilding process./p pSo, why are credit cards for bad credit worth looking into? T Read more…