Archive for December 30, 2012

7 Ways to Improve Your Credit Score in 2013

7 Ways to Improve Your Credit Score in 2013
News from ABC News:

Newsflash!!! The dating world has been turned upside down yet again — no, not by some new feature on Match.com, eHarmony, or Christian Mingle. But rather by that universal theoretical measuring stick of financial maturity: the credit score.

I came upon this fascinating story in the New York Times (though for a moment I thought I was reading a dating column in Cosmo). Apparently, the new normal now requires both sides of the dating equation to provide information heretofore considered sacrosanct except in economic transactions. It’s no longer about getting a job, buying a house, car, cell phone or insurance, nor is it about renting an apartment, video, or getting an airplane ticket or hotel room in the coolest location in the world.

Today, it’s about making your case by way of a number, and I’m not talking about that 1-10 ranking both revered and reviled by millions for decades. To put it plainly, if you want to score big, you ne…………… continues on ABC News

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Editorial: Popping the credit question
News from MetroWest Daily News:

The young woman was musing about a possible long-term relationship with her handsome date when he suddenly popped the question: “What is your credit score?”

Surprised and somewhat dismayed, she admitted it wasn’t all that good, and according to The New York Times, that was the end of the story for her romantic visions.

While many people don’t even know what a credit score is, much less what their individual number is, the Times says there is a growing realization among young marriage-minded men and women that a partner with a poor credit score can affect the rates they pay on mortgages, car loans, credit cards and other common financial transactions.

Credit scores, calculated on your payment history, amounts owed, length of credit history, new credit and types of credit used, range from a low of 300 to a high of 850. Scores above 750 are considered good; below 660 poor.

“Credit scores are like the dating equivalent of a sexually transmitted disease test,” Manisha Thakor, founder of MoneyZen Wealth Management, told the Times. “It’s a shorthand way to get a sense of someone’s financial past the same way an S.T.D. test gives some information about a person’s sexual past.”

Money is the No. 1 problem in marriages and also the leading cause of divorce, according to TV’s Dr. Phil McGraw.  So maybe checking your financial compatibility isn’t…………… continues on MetroWest Daily News

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Beware of bad credit repair scams

Beware of bad credit repair scams
News from Examiner.com:

The Federal Trade Commission on Thursday warned Americans to be aware of credit repair scams that are becoming more popular on the radio, television, through the mail, and on the Internet.

While the economy has been showing some signs of improvement, your good name and reputation is becoming more important within the community. Creditors have tightened their guidelines effectively barring millions of Americans from borrowing money.

Mortgage lenders, auto finance companies, credit card issuers and banks have all raised the bar. Borrowers with low FICO scores can expect to be denied or to pay significantly higher interest rates than those with excellent histories.

Long gone are the days of obtaining credit, goods, benefits, services and/or employment with a 620 score. In most instances, a consumer will be denied if they maintain a credit score lower than 740. Even those with high credit scores have experienced clo…………… continues on Examiner.com

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Equifax offers tips to improve Finances in 2013

Equifax offers tips to improve Finances in 2013
News from Best Syndication:

(Best Syndication News) – With New Years resolutions just around the corner, Equifax Inc. (NYSE:EFX) is offering individuals several ways to improve their finances in 2013. These tips could help people gain control over their spending and improve their credit score over the next year.

Paying off debt is one of the most important ways to improve finances, explained the credit reporting agency. To understand your financial situation, you should know how much debt you owe. Then you can make a plan to reduce the debt load over time. If you do not know where to start, seeking counsel from a certified financial planner or debt management counselor can help. The financial planner can help set up a plan of action to tackle the debt.

Equifax reminds us that each year individual credit reports are free from each of the three national credit-reporting agencies. To get the free credit report, visit www.annualcreditreport.com. It is important to know what your credit score is and if there is any incorrect information…………… continues on Best Syndication

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Credit Score without Credit Cards
News from bdaily:

In today’s world, it is becoming more and more important to have a very good picture of our full financial profiles.  Our credit scores give us the snapshot we need into understanding the full scope of our financial destinies. The main problem a lot of people run into is figuring out where to go to find a trusted source of information. All companies and organizations that will provide your credit score will need some facts about you to obtain this information.

The most important thing NOT to provide is credit card info.  Federal law requires that possibilities exist for people to obtain free credit score reports without necessitating the use of a credit card. As such, most services that claim to provide you this information with a card are not trustworthy. Services that give you access to your score without credit card information pay their bills through ad support, so expect to see a few on their websites, or to get an email occasionally with recommended offers. Additionally, the official federal service for getting access to your credit report only offers one free copy of each report per twelve-month period, so it can be important to have alternatives.

If you’ve been turned down for credit, are applying for a mortgage, loan, or credit card, are worried about identity theft, or just want to do everything you c…………… continues on bdaily

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Shape your financial future by checking your credit report and scores

Shape your financial future by checking your credit report and scores
News from Fairbanks Daily News-Miner:

(BPT) – Do you know what’s on your credit report? Do you know your credit scores? If you don’t, you’re not alone, but now is a good time to better understand how they work before you go apply for that loan. By waiting to check your report and scores until you want to buy a car or house, you may discover too late your financial history forces you into strict loan terms with high interest rates, or, worse, disqualify you from getting any loan at all. How can you avoid this situation?

Responsible past credit behavior, a healthy credit score and understanding your debt picture all play crucial roles in achieving your overall financial goals. So reviewing your credit report and knowing your VantageScore credit score and how you compare to others is essential. By reviewing your report, you can verify the information in it, and take actions to correct any item that may require it. If you have any negative marks, now is the time to take action to address those issues and increase your credit score.    

Perhaps the biggest misconception about credit scoring is that all the three major credit bureaus – TransUnion, Equifax and Experian – produce the same score. Although simi…………… continues on Fairbanks Daily News-Miner

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Top 5 ways to boost your credit score

Top 5 ways to boost your credit score
News from KIRO Seattle:

If your credit score is less than stellar, it doesn’t mean you’re doomed to a life living in your parents’ basement and riding the city bus. Although negative items like bankruptcies and late payments will stay on your credit report for seven years, there are a few things you can start doing today to boost that all-important score. We checked in with experts to find the top 5 ways to get your credit flowing in as little as six months.

1. Reduce your credit utilization to less than 25%

“Credit utilization is the amount of credit you use compared to how much credit is available to you,” says Todd Albery, CEO of credit monitoring site Quizzle.com.

It’s estimated that 30% of your credit score is derived from your utilization level, and consumers can reduce utilization by avoiding maxing out their credit cards and paying off or spreading out their credit card balance, he says.

Credit card utilization is a key factor in boosting your credit score, says Bruce Murphy, president of community development banking at KeyBank.

…………… continues on KIRO Seattle

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Shape your financial future by checking your credit report and scores

Shape your financial future by checking your credit report and scores
News from Hickory Daily Record:

(BPT) – Do you know what’s on your credit report? Do you know your credit scores? If you don’t, you’re not alone, but now is a good time to better understand how they work before you go apply for that loan. By waiting to check your report and scores until you want to buy a car or house, you may discover too late your financial history forces you into strict loan terms with high interest rates, or, worse, disqualify you from getting any loan at all. How can you avoid this situation?

Responsible past credit behavior, a healthy credit score and understanding your debt picture all play crucial roles in achieving your overall financial goals. So reviewing your credit report and knowing your VantageScore credit score and how you compare to others is essential. By reviewing your report, you can verify the information in it, and take actions to correct any item that may require it. If you have any negative marks, now is the time to take action to address those issues and increase your credit score.    

Perhaps the biggest misconception about credit scoring is that all the three major credit bureaus – TransUnion, Equifax and Experian – produce the same score. Although similar, there ar…………… continues on Hickory Daily Record

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Another Way To Survive Investor and Lender Scrutiny
News from Fox Business:

Are you thinking about starting a new business in 2013? If you are, it’s worthwhile to get your personal finances in shape as one of your pre-startup action items. Here’s why it is important.

Before the recession hit hard, banks relied on a startup entrepreneur’s personal credit score plus pledged assets to guide their lending decisions, especially for the popular Small Business Administration 7(a) loan program.  Then, an acceptable credit score was in the 600s. Today, entrepreneurs will need at least 700 to get a hearty hello from bank lenders. 

Ambitious entrepreneurs, as well as their executive business partners who want to tap venture capital funds for business funding, should clean up bad personal credit ratings too.  Investors are not at all forgiving to entrepreneurs who have a long history of poor money management. They reason, “If someone can’t handle their personal finances, how can he or she be trusted to manage thousands or millions of dollars to grow a profitable business?” It’s a fair concern.

Here are my recommendations to help prepare your personal financial standing for lender and investor scrutiny.

No. 1: Check personal credit reports for accuracy. Each year, individuals can receive copies of their credit report from three leading agencies through

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Improving Credit Scores and Reducing Expenses: Proven Resource Offers Six …

Improving Credit Scores and Reducing Expenses: Proven Resource Offers Six …
News from Midland Daily News:

Real Estate and Finance Attorney of 23 years gives tips on what can be done now to improve household finances for the coming year.

Detroit, MI (PRWEB) December 21, 2012

“It’s never too early to outline a household financial strategy for the approaching new year” according to David Soble, a real estate and finance attorney at Michigan-based, Proven Resource, LLC, a professional firm that represents businesses and consumers experiencing financial or legal crises.

Here are but six suggestions that can make handling finances easier– now. Accomplish just one item within the next few weeks and get a head start for next year.

1. Know the “score”. Everyone has the right to a free credit report annually. Obtain a credit report on line. Some banks have been providing clients with a free credit report. Review each trade line on the report for accuracy. Look for any items that report negatively. Investigate any collections, late pays, or unfamiliar items. Dispute or explain any erroneous reporting by writing to the cred…………… continues on Midland Daily News

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Credit score has big ramifications
News from Columbia Daily Tribune:


Credit scores are one of life’s most important benchmarks. They help qualify your financial picture for a financial institution, an employer or an insurance company. Because credit scores are so important to obtaining credit, it’s essential that borrowers are as knowledgeable as possible about their score.

First, let’s explore the basics. There are three nationwide credit reporting agencies that aggregate data from creditors and other sources into a consumer’s credit file. This allows lenders to evaluate a prospective borrower numerically in what is termed a credit score. The three agencies that prepare credit reports are Equifax, Experian and TransUnion. Under the Fair Credit Reporting Act, or FCRA, a consumer has the right to request a free credit report from each agency by using the only authorized online website known as annualcreditreport.com.

The decision of credit approval (or denial) and the amount of that credit are directly related to a credit score. Each agency has a credit score range for scoring purposes, but t…………… continues on Columbia Daily Tribune

… Read the full article


Improving Credit Scores and Reducing Expenses: Proven Resource Offers Six …

Improving Credit Scores and Reducing Expenses: Proven Resource Offers Six …
News from Midland Daily News:

Real Estate and Finance Attorney of 23 years gives tips on what can be done now to improve household finances for the coming year.

Detroit, MI (PRWEB) December 21, 2012

“It’s never too early to outline a household financial strategy for the approaching new year” according to David Soble, a real estate and finance attorney at Michigan-based, Proven Resource, LLC, a professional firm that represents businesses and consumers experiencing financial or legal crises.

Here are but six suggestions that can make handling finances easier– now. Accomplish just one item within the next few weeks and get a head start for next year.

1. Know the “score”. Everyone has the right to a free credit report annually. Obtain a credit report on line. Some banks have been providing clients with a free credit report. Review each trade line on the report for accuracy. Look for any items that report negatively. Investigate any collections, late pays, or unfamiliar items. Dispute or explain any erroneous reporting by writing to the cred…………… continues on Midland Daily News

… Read the full article
.


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Credit score has big ramifications
News from Columbia Daily Tribune:


Credit scores are one of life’s most important benchmarks. They help qualify your financial picture for a financial institution, an employer or an insurance company. Because credit scores are so important to obtaining credit, it’s essential that borrowers are as knowledgeable as possible about their score.

First, let’s explore the basics. There are three nationwide credit reporting agencies that aggregate data from creditors and other sources into a consumer’s credit file. This allows lenders to evaluate a prospective borrower numerically in what is termed a credit score. The three agencies that prepare credit reports are Equifax, Experian and TransUnion. Under the Fair Credit Reporting Act, or FCRA, a consumer has the right to request a free credit report from each agency by using the only authorized online website known as annualcreditreport.com.

The decision of credit approval (or denial) and the amount of that credit are directly related to a credit score. Each agency has a credit score range for scoring purposes, but t…………… continues on Columbia Daily Tribune

… Read the full article


How Much Do Credit Repair Companies Charge

How Much Do Credit Repair Companies Charge
News from TheDay.com:

Editor’s Note: This opinion piece was submitted by a member of the public to The Day’s community website, www.Zip06.com.

The article requested cannot be found! Please refresh your browser or go back. (NL,20121218,USR04,121219639,AR).

The article requested cannot be found! Please refresh your browser or go back. (NL,20121218,USR04,121219639,AR).

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Simple Steps to Improve Your Credit Scores

www.LegacyLegal.com Simple Steps to Improve Your Credit Score. Improving your credit score can significantly increase your purchasing power and credit worthiness. So let’s discuss a few tips on how to improve your credit score. Don’t worry; this is all pretty basic stuff. But as a reminder, no part of your credit score is based on your income, or where you live or went to school. TWITTER twitter.com FACEBOOK: www.facebook.com

The Best Credit Cards for Bad Credit That Can Boost Credit Scores in 2013 …

The Best Credit Cards for Bad Credit That Can Boost Credit Scores in 2013 …
News from Houston Chronicle:

Creditnet (http://www.creditnet.com), a leading consumer credit authority on the web since 1995, announces three credit cards for bad credit that can boost scores in 2013.

San Diego, Calif. (PRWEB) December 14, 2012

An excellent way for consumers with less-than-perfect credit to begin rebuilding credit scores is by applying for a credit card for bad credit. So says Creditnet.com, a leading web authority related to all things credit since 1995.

With self-improvement on the minds of consumers come 2013, a new year’s resolution sure to be popular in the new year is improving bad credit. While there are numerous ways to improve credit score both short-term and long-term, applying for a new credit card and making on-time payments is one of the best. Creditnet.com has announced three bad credit credit cards that can help consumers boost credit scores.

Creditnet.com considered credi…………… continues on Houston Chronicle

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Top 5 ways to boost your credit score
News from Hamilton Journal News (subscription):

If your credit score is less than stellar, it doesn’t mean you’re doomed to a life living in your parents’ basement and riding the city bus. Although negative items like bankruptcies and late payments will stay on your credit report for seven years, there are a few things you can start doing today to boost that all-important score. We checked in with experts to find the top 5 ways to get your credit flowing in as little as six months.

1. Reduce your credit utilization to less than 25%

“Credit utilization is the amount of credit you use compared to how much credit is available to you,” says Todd Albery, CEO of credit monitoring site Quizzle.com.

It’s estimated that 30% of your credit score is derived from your utilization level, and consumers can reduce utilization by avoiding maxing out their credit cards and paying off or spreading out their credit card balance, he says.

Credit card utilization is a key factor in boosting your credit score, says Bruce Murphy, president of community development banking at KeyBank.

…………… continues on Hamilton Journal News (subscription)

… Read the full article