No matter how bad your credit is, you can take steps that will make it better.
Pay all of your bills on time. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.
Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting agencies.
Avoid bankruptcies, tax liens (a lien for not paying state or federal income taxes or property taxes) and collections. A bankruptcy stays on your credit report for up to 10 years. Collection accounts and paid tax liens stay on for seven years, and unpaid tax liens will haunt you forever.
Request in writing that your creditors reduce the credit limits on your accounts to lower your amount of available credit. The total amount of available credit is considered by lenders even if you owe nothing.
Ask a family member or friend to co-sign on a small loan or credit card to help you re-establish credit. Make your payments on time.
Get a secured credit card to help reestablish your credit. You will have to keep a designated amount of money in an account that will be sufficient to cover your charges. Make payments on time.
Get a yearly copy of your credit report to catch any errors (see 'eHow to Obtain a Copy of Your Credit Report').
Read the original full article here.
Showing posts with label credit. Show all posts
Showing posts with label credit. Show all posts
Saturday, April 17, 2010
Wednesday, January 6, 2010
How to Repair Bad Credit
GET YOUR CREDIT REPORT - You are allowed one free credit report each year. Contact one of the online agencies that can help you get the free report. It is totally free. You should not have to pay anything or join a service to obtain your free report. If you have already obtained one, you will have to wait another 12 months from the date that you requested it before you can get another free credit report. You also can get your free credit report from each of the three top credit reporting agencies, so essentially you can get three reports, one from Transunion, one from Equifax and one from Experian.
DISPUTE DISCREPANCIES - If there are errors or derogatory information on your credit report that you do not agree with, you can dispute it. Dispute each error separately and dispute it with each agency that is reporting the error such as Transunion, Equifax and Experian.
FOLLOW THROUGH - Many times after you dispute an error the credit reporting agencies will ask you to send back up or proof. Make sure that you provide them will all of the information that they are requesting. Keep original documents for yourself and send them copies of what they are requesting.
Knowing how to repair bad credit can turn your credit around and save money.
WAIT - It may take some time to get errors on your credit report cleared up. Also even truthful information that is derogatory will eventually time out and fall off of your credit. For some things such as bankruptcy, it may take ten years before it is removed, for other things, such as foreclosure, you can buy a home again after three years although it will still be on your credit.
All of your bad credit will eventually go away. Take action today to repair your bad credit and keep your credit good. Take care of it just as you would a small child. Your credit needs to be babied. Get started today to rebuild your credit.
If you want more information on how to repair bad credit please look here.
DISPUTE DISCREPANCIES - If there are errors or derogatory information on your credit report that you do not agree with, you can dispute it. Dispute each error separately and dispute it with each agency that is reporting the error such as Transunion, Equifax and Experian.
FOLLOW THROUGH - Many times after you dispute an error the credit reporting agencies will ask you to send back up or proof. Make sure that you provide them will all of the information that they are requesting. Keep original documents for yourself and send them copies of what they are requesting.
Knowing how to repair bad credit can turn your credit around and save money.
WAIT - It may take some time to get errors on your credit report cleared up. Also even truthful information that is derogatory will eventually time out and fall off of your credit. For some things such as bankruptcy, it may take ten years before it is removed, for other things, such as foreclosure, you can buy a home again after three years although it will still be on your credit.
All of your bad credit will eventually go away. Take action today to repair your bad credit and keep your credit good. Take care of it just as you would a small child. Your credit needs to be babied. Get started today to rebuild your credit.
If you want more information on how to repair bad credit please look here.
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Friday, May 1, 2009
How To Avoid Credit Card Fees
If you have been wondering how to avoid credit card fees, the easiest way is to stop using credit cards. The credit card companies are bound to find some way to charge you a fee for something if you continue to use their service. Also, if you are using credit cards regularly but not paying them off you may not be able to afford what you are buying and then you are getting yourself into a precarious situation.
How To Avoid Credit Card Fees
1. Always pay your credit card bill on time. If you are unable to pay your credit card (minimum) payments on time then most likely you are purchasing more than you can afford and you need to stop purchasing on your credit cards.
2. Do not go over your limit. When you get close to your limit, stop there. You may not realize that you have actually gone over your limit, then you will have an additional over limit fee.
3. Pay off high interest rate cards first. When you are trying to pay down your credit cards, pay off your high interest rate cards first. Transfer the balance to a cheaper rate if you possibly can.
4. Ask what fees are involved before you do transactions that you are not familiar with, such as a cash advance. What is the cash advance fee? Does the interest rate change for a cash advance.?
5. Never apply for a credit card that has a yearly fee. Eventually you will regret that you have the fee, but if you cancel the credit card, it could be a bad mark on your credit.
If you have credit cards then you need to know how to avoid credit card fees.
How To Avoid Credit Card Fees
1. Always pay your credit card bill on time. If you are unable to pay your credit card (minimum) payments on time then most likely you are purchasing more than you can afford and you need to stop purchasing on your credit cards.
2. Do not go over your limit. When you get close to your limit, stop there. You may not realize that you have actually gone over your limit, then you will have an additional over limit fee.
3. Pay off high interest rate cards first. When you are trying to pay down your credit cards, pay off your high interest rate cards first. Transfer the balance to a cheaper rate if you possibly can.
4. Ask what fees are involved before you do transactions that you are not familiar with, such as a cash advance. What is the cash advance fee? Does the interest rate change for a cash advance.?
5. Never apply for a credit card that has a yearly fee. Eventually you will regret that you have the fee, but if you cancel the credit card, it could be a bad mark on your credit.
If you have credit cards then you need to know how to avoid credit card fees.
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Tuesday, April 28, 2009
Why I will Not Use My Credit Cards Today
Sometimes you have to wean yourself off of credit cards one day at a time and remind yourself constantly of why I will not use my credit cards today. Credit card debit can be stifling. Remember when you bought those new flip flops on sale for $25.00 and you knew that you had paid a low price because they were leather and covered in rhinestones? Well after leaving them on your credit card for three years, how much do you think that you paid for them now?
Why I will Not Use My Credit Cards Today:
1. I can't afford to over pay for essential items.
2. I could by a new pair of shoes with the amount it costs for my over limit fee.
3. I can barely pay the minimum on my credit cards.
4. My interest rate is up to 24.99%.
5. The credit card company has already made thousands of dollars off me.
6. I could by a new purse with the late fee.
7. My credit score is being damaged.
8. I have over extended myself.
9. I need to learn to live on what I make each month.
10. Because it is the right thing to do.
This is why I will not use my credit cards today, why won't you use yours?
Why I will Not Use My Credit Cards Today:
1. I can't afford to over pay for essential items.
2. I could by a new pair of shoes with the amount it costs for my over limit fee.
3. I can barely pay the minimum on my credit cards.
4. My interest rate is up to 24.99%.
5. The credit card company has already made thousands of dollars off me.
6. I could by a new purse with the late fee.
7. My credit score is being damaged.
8. I have over extended myself.
9. I need to learn to live on what I make each month.
10. Because it is the right thing to do.
This is why I will not use my credit cards today, why won't you use yours?
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Thursday, April 23, 2009
How To Repair Your Credit
Everyone can learn how to repair your credit.
Repairing your credit can be done yourself. You do not need to hire an agency. I do not believe that they can do any better than you can personally. You just need to be diligent. Clear up items that are incorrect and slowly over time your credit will become better.
OBTAIN YOUR CREDIT REPORT
First you will need to get a copy of your credit report. You can get one free credit report every twelve months from the top three credit reporting agencies, Equifax.com, Experian.com and Transunion.com. You should not pay a penny to get a copy of these reports.
DISPUTE DISCREPANCIES
Review your report thoroughly and dispute each item on every report that is incorrect. This can be tedious if you have a lot of credit. Follow through with the reporting agencies and make sure that they remove things that are incorrect.
WAIT FOR RESULTS
It may take some time but eventually you will be able to repair your credit. Even items that are accurate and derogatory will eventually fall off of your credit. Most things will be gone in ten years even if they are correct.
Learn how to repair your credit today.
Repairing your credit can be done yourself. You do not need to hire an agency. I do not believe that they can do any better than you can personally. You just need to be diligent. Clear up items that are incorrect and slowly over time your credit will become better.
OBTAIN YOUR CREDIT REPORT
First you will need to get a copy of your credit report. You can get one free credit report every twelve months from the top three credit reporting agencies, Equifax.com, Experian.com and Transunion.com. You should not pay a penny to get a copy of these reports.
DISPUTE DISCREPANCIES
Review your report thoroughly and dispute each item on every report that is incorrect. This can be tedious if you have a lot of credit. Follow through with the reporting agencies and make sure that they remove things that are incorrect.
WAIT FOR RESULTS
It may take some time but eventually you will be able to repair your credit. Even items that are accurate and derogatory will eventually fall off of your credit. Most things will be gone in ten years even if they are correct.
Learn how to repair your credit today.
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How To Check Your Credit
Do you want to know how to check your personal credit?
It is free to check your personal credit once every 12 months from each of the three main credit bureaus. So you can get three credit reports, one from Transunion, one from Experian and one from Equifax. You will not get a free credit score, but you do not really need the score, you can get an idea of how good or bad your credit is by the report.
Even though you are allowed to get these free reports once every 12 months, the credit card companies like to make it difficult for you to get the reports. They would really like you to sign up for their pay services.
Do not pay for your credit reports. It is not necessary for most people to get a service where in they pay for access to their credit reports. Your credit report is good for 30 days, so they do not change that often. For most people, a free report each year is absolutely fine.
You can contact the credit agencies online to request your free reports, normally you can set up passwords, enter personal information and request the free report online. Some agencies try to make it difficult by forcing you to call an 800 number or write to them to get your free report.
If you do sign up online, keep your passwords and information handy because you will need the same one every year that you request your free reports.
Check your credit today at Transunion.com, Experian.com and Equifax.com.
It is free to check your personal credit once every 12 months from each of the three main credit bureaus. So you can get three credit reports, one from Transunion, one from Experian and one from Equifax. You will not get a free credit score, but you do not really need the score, you can get an idea of how good or bad your credit is by the report.
Even though you are allowed to get these free reports once every 12 months, the credit card companies like to make it difficult for you to get the reports. They would really like you to sign up for their pay services.
Do not pay for your credit reports. It is not necessary for most people to get a service where in they pay for access to their credit reports. Your credit report is good for 30 days, so they do not change that often. For most people, a free report each year is absolutely fine.
You can contact the credit agencies online to request your free reports, normally you can set up passwords, enter personal information and request the free report online. Some agencies try to make it difficult by forcing you to call an 800 number or write to them to get your free report.
If you do sign up online, keep your passwords and information handy because you will need the same one every year that you request your free reports.
Check your credit today at Transunion.com, Experian.com and Equifax.com.
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How To Manage Your Personal Credit
Do you ever wonder how to manage your personal credit?
Managing your personal credit is very important. You do not want to have too little credit or too much credit. If you have high credit lines, you do not want to use them unless you can actually afford to use them. Do not over extend yourself even if the creditors have given you the credit.
KNOW THE DETAILS OF YOUR CREDIT CARDS
Before you accept a credit card offer you need to know all of the details associated with the card. The number one thing you want to know if there is any kind of yearly or ongoing fee. You do not want a yearly fee in any amount. You also need to know what the interest rate is and more importantly whether it can change and under what circumstances. Some cards raise your interest rate if you are late on a payment.
DO NOT OVER EXTEND YOUR CREDIT
You only need to have one or two major credit cards. Over time if your credit is good the card companies will raise your limit. If you get too many cards and a high credit line it may give you the false sense that you can actually afford it, when in reality you cannot afford it. Even if credit card companies extend you high credit lines, do not use them unless you absolutely need to and you can actually afford to pay the balances. The credit card companies get a little nervous when you have your balances maxed out. They may take away some of your credit or place other limitations on your account if you keep your card at the maximum limit.
KEEP A 35% BALANCE
If possible it is good for your credit score for you to keep a balance of approximately 35% of your available credit and pay the regular minimum balance or more each month. Credit card companies love their customers to keep balances that are reasonable. This will help your credit score but at a price because you do have to pay the interest rate on the balance. Credit card companies do not like to see you pay off your credit card each month even though that may be the best way to manage your personal credit.
PAY ON TIME
Always pay all of your credit card payments on time and at least the minimum payment. If you get yourself in a bind, call the credit card company and ask them to help. Do not use a free company that helps you combine all of your credit card payments or a company that helps repair or build your credit. The first one is bad for your credit and the second one is usually a scam.
You can learn how to manage your personal credit on your own.
Managing your personal credit is very important. You do not want to have too little credit or too much credit. If you have high credit lines, you do not want to use them unless you can actually afford to use them. Do not over extend yourself even if the creditors have given you the credit.
KNOW THE DETAILS OF YOUR CREDIT CARDS
Before you accept a credit card offer you need to know all of the details associated with the card. The number one thing you want to know if there is any kind of yearly or ongoing fee. You do not want a yearly fee in any amount. You also need to know what the interest rate is and more importantly whether it can change and under what circumstances. Some cards raise your interest rate if you are late on a payment.
DO NOT OVER EXTEND YOUR CREDIT
You only need to have one or two major credit cards. Over time if your credit is good the card companies will raise your limit. If you get too many cards and a high credit line it may give you the false sense that you can actually afford it, when in reality you cannot afford it. Even if credit card companies extend you high credit lines, do not use them unless you absolutely need to and you can actually afford to pay the balances. The credit card companies get a little nervous when you have your balances maxed out. They may take away some of your credit or place other limitations on your account if you keep your card at the maximum limit.
KEEP A 35% BALANCE
If possible it is good for your credit score for you to keep a balance of approximately 35% of your available credit and pay the regular minimum balance or more each month. Credit card companies love their customers to keep balances that are reasonable. This will help your credit score but at a price because you do have to pay the interest rate on the balance. Credit card companies do not like to see you pay off your credit card each month even though that may be the best way to manage your personal credit.
PAY ON TIME
Always pay all of your credit card payments on time and at least the minimum payment. If you get yourself in a bind, call the credit card company and ask them to help. Do not use a free company that helps you combine all of your credit card payments or a company that helps repair or build your credit. The first one is bad for your credit and the second one is usually a scam.
You can learn how to manage your personal credit on your own.
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Tuesday, April 21, 2009
How To Get A Business Credit Card The Easy Way
Have you been wondering how to get business credit or a business credit card? It is not that difficult to start your business credit but it does take some time. To get things moving faster you can use your own credit. Not everyone wants to or is able to use their own credit, but if you can use your own information, your business credit will come even faster.
MAJOR CREDIT CARD - To get a major credit card for your business, you will most likely need to use your personal credit. You will need to give your social security number, address and phone number in addition to your business information.
STORE CARDS - There are many store credit cards that you can get without using your own credit. Office supply stores and gas stations will give you credit for your business without your personal credit. You will need a tax id number for your business, a business address (not a P.O. or Post office store), and a phone number.
It is advised that you start your business credit on its own without using your own credit, but it certainly will not hurt to use your own personal information.
MAJOR CREDIT CARD - To get a major credit card for your business, you will most likely need to use your personal credit. You will need to give your social security number, address and phone number in addition to your business information.
STORE CARDS - There are many store credit cards that you can get without using your own credit. Office supply stores and gas stations will give you credit for your business without your personal credit. You will need a tax id number for your business, a business address (not a P.O. or Post office store), and a phone number.
It is advised that you start your business credit on its own without using your own credit, but it certainly will not hurt to use your own personal information.
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