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•Before You Go House Hunting You need your free credit report
You may be thinking Why do I need my free credit report right now when my lender is going to get it before I can get a loan?
Because you need to be prepared. You need to know what that credit report says and how your credit scores stand before you talk to any lenders.
That's because every time a lender checks your credit on your request, your credit scores take a little hit. You should never let any lender, landlord, or service provider check your credit until you are ready to move forward....
•You Need Credit Scores With a Credit Report
I recently logged on to annualcreditreport.com to get my once a year free credit report but to my surprise there were no credit scores. In case you didn't know, everyone is entitled to their free credit report once every twelve months at http://www.annualcreditreport.com/. If you too have been there then you know that your credit report did not come with your credit scores. Just about everyone these days is looking at your credit so shouldn't you know what they are? This magical three digit...
•How Credit Card Balances Affect Credit Scores
Getting confused about how to use your credit cards for the best effect on your credit scores?
You know you need credit card accounts - you've been cautioned not to close any accounts, especially your oldest accounts.
You've heard that you shouldn't carry a balance of more than 30% of your available credit in a given month. You know that if you do charge more, you should go on line and make a payment before your monthly credit card statement is generated.
But, do you need some kind of...
•Buying a Car First you need your Free Credit Report
Buying a Car? First you need your Free Credit Report Ordering your free credit report is probably the last thing on your mind when you're yearning for a new car, but unless you're going to pay cash for that new car, it is something you should do before you start to shop.
You know that at least 25% of all credit reports contain errors. Making sure that your credit scores aren't being pulled down by some stranger's negative information is reason enough to take the few minutes to order a...
•More Credit Score Myths
Most of us don't understand or know what makes up our credit score. Your credit score is the most important piece of information in your financial life. Landlords, lenders, insurance companies, electric companies and potential employers all have your credit score under the microscope.
With that being said, you should probably check your credit scores on a regular basis. Check it for errors, potential identity theft and improve your scores over time. The secret to a better credit score is to...
•Credit Score 101 Do s and Dont s
A credit score is an indicator of how likely you are to default on a loan or credit card. Your credit score is determined by a combination of the following:
1. Payment History. Do you pay your bills on time? Are there recent late payments? How many times were you late? 2. Amounts owed. Are your cards maxed out? Do you have a ton of debt? 3. Length of credit history. How long have you been using credit? Have you established good credit history? 4. New Credit. Are you opening new...
•Use Cash Back Cards Wisely to Protect Credit Scores
Unwise use of cash-back credit cards can destroy your credit scores, so be careful.
The temptation is there - when you get a new card that offers to give you twice the reward if you hurry up and use that card in the first couple of months, you might want to get out there and spend money. After all, there are things you need for your home that you'll probably buy over the next few months, so why not do it now - while you can get 4% cash-back?
The obvious reason is that no matter when you use...
•Credit Score Repair Scams
Being in the mortgage business for the past 15 years I get worn out and beat down by fly by night credit repair companies that promise the world. I've heard everything from We can improve your buyer's credit scores by over 100 points in less than 30 days to Our credit repair company removes bankruptcies in no time at all.
With our nation's economy in the toilet, people's debt loads are on the rise. Many people are having problems just making minimum payments. Some aren't even doing that. As a...
•Danger Signs of Bad Credit Repair Companies
If you are considering legitimate credit repair and restoration, then good for you. The first step in improving your credit score is to get a grip on your finances and handling up on your debts. Remember that no one can remove accurate credit reporting. If that's your car that was repo'd, it's not going away any time soon. On the other hand, if that car was someone else's then you'll have no problem getting it deleted from your credit report.
You may be thinking about hiring a credit...
•When should you check your credit report
? When you are preparing to make a major purchase such as a home or auto loan you should check your credit report. Your credit score is one of the most important factors lenders use in determining whether or not you get a loan. Credit scores also determine what interest rate you will get. The higher the credit score the better off you will be.
Nonetheless, if you are planning a major purchase, you should check your credit report and credit scores several months before. Make sure the...
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