Archive for December 31, 2013

The Best 3 Student Credit Cards

The Best 3 Student Credit Cards
News from Huffington Post:

If a credit score is a GPA for your financial responsibility, then credit cards are those easy intro classes that can help you boost the average. If you use credit cards throughout college and gradually build a sound credit history, you’re going to enter the dreaded “real world” with some significant financial advantages.

Simply put, a good credit score will save you money and vouch for your financial responsibility. It will help you get low interest rates on mortgages, car loans and even a line of credit for a new business. When you submit an application to rent your first apartment, a good credit score will help you get approved. And when you submit job applications, many employers will take your credit score into consideration. Grades stop mattering a few years after college, but your credit history follows you for the rest of your life.

To boost your credit score with credit cards, you just need the right mindset — and the right card.

If you live within your means, pay your balances in full, and pay on time, you won’t accumulate long-term debt and you will improve your credit score. Most credit card providers now let you automate payments onl…………… continues on Huffington Post

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How to check your credit score
News from Digital Trends:

Credit scores can be a scary thing.

In a nutshell, they’re a specific number credit bureaus assign to you, one that quickly encapsulates your entire credit history and assesses your financial credibility as an individual. Although they’re merely comprised of a three-digit number between 300 and 850, they directly influence some of the most important financial facets of your life, from the mortgage rates on your home to the potential loans available to you as a student or a first-time car buyer. If that wasn’t enough, bad credit scores also make it tougher to start a small business, obtain insurance, and even obtain a job in some situations — an issue that has only become more pervasive since the economic collapse of ’08 and a general tightening of credit standards by regional banks.

Like most scores, you credit score is a culmination of multiple components (in this case five). The first and largest portion of your scores relies on your payment history — whether you’ve paid your bills on time or neglected them — but it’s quickly followed by the amount of money you owe…………… continues on Digital Trends

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How to Improve Your Credit Score: What Everyone Needs to Know
How to Improve Your Credit Score: What Everyone Needs to Know

Most of the information contained in this text has come from experience, i.e. blood, sweat, tears, trials and errors. What started off as a necessity from my own circumstances, turned into a lifetime quest to help others obtain financial intelligence in regards to their credit. There seems to be a lack of good information when it comes to your financial and credit well-being. It is my intent to provide you with good information that you will be able to apply to your own situation and betterment.

List Price: $ 9.97

Price: $ 9.97

Credit Repair Companies Know What To Look For

Credit Repair Companies Know What To Look For
News from CBS Local:

(photo credit: Thinkstock)

This article is provided and sponsored by:
ClearPoint Credit Counseling Solutions

_____________________________________

The ads from credit repair companies pop up everywhere—on telephone polls, in newspapers, on TV and radio, in your email and on the internet.

  “We can erase your bad credit — 100% guaranteed permanent results.”
  “Boost Your Credit Score To 750 In One Week. Guaranteed!”
  “We’ll Erase Your Bad Credit History Simple, Fast & Easy. Guaranteed!”
  “Erase bad credit scores from your FICO report.”
  “Fix Your Credit Report. Same Day Service. Proven Results.”

You’ll see similar claims over and over. But can credit repair companies be trusted?

Consumer credit counselors at ClearPoint advise consumers to not believe these…………… continues on CBS Local

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Secrets to Credit Repair, Credit Building, & Credit Management
Secrets to Credit Repair, Credit Building, & Credit Management

List Price: $ 1.99

Price: $ 1.99

What a poor credit rating is costing you

What a poor credit rating is costing you
News from USA TODAY:

Kelley Holland, Special to CNBC 8 a.m. EST December 29, 2013

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Avoiding These Mistakes Can Help Your Credit Score

Avoiding These Mistakes Can Help Your Credit Score
News from Idaho State Journal:

(NAPSI)—There’s good news for consumers who want to improve their credit score. There are a few practical steps they can take that will help them avoid future problems and correct mistakes of the past.

That’s one of the key findings of a report released by free credit report and score provider Quizzle.com. The report found that despite the fact that the unemployment picture is slowly improving, consumers’ average credit scores continue to decline.

Says Quizzle.com CEO Todd Albery, “This is no small issue. Tight lending standards and a lack of understanding about credit reports have held many people back from buying a home, getting a new car or making other large purchases.”

Here are a few common mistakes consumers are making that hurt their credit score. Avoiding these mistakes can contribute to a better score in the future:

• Not checking their credit report: A Federal Trade Commission (FTC) study shows that 20 percent of Americans have errors on their credit report and 5 percent have mistakes that could lead to them paying more or…………… continues on Idaho State Journal

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The True Cost of a Poor Credit Score

The True Cost of a Poor Credit Score
News from The Fiscal Times:

The week after Christmas isn’t just a time for cruising the post-holiday sales. For some, it’s when the realization of all that spending over the last month kicks in.

If the post-holiday bills aren’t enough, perhaps a look at the cost of a poor credit score will also help you mend your ways.

Experts estimate that a less-than-sterling credit score can cost you tens of thousands of dollars over the years, since you’ll be paying higher interest rates on everything from mortgages to a Macy’s credit card—if you can even obtain those things.

“If your credit score is high enough, you’ll qualify for a lender’s best rates and terms. Your mailbox will be stuffed with low–rate offers from credit card issuers, and mortgage lenders will fight for your business,” personal finance expert Liz Weston wrote in her book continues on The Fiscal Times

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Tips On How To Improve Your Credit Score http://www.AmericanDebtCreditServices.com Tips To Repair Credit Tips to repair credit – Accumulating credits have ne…

What Your Poor Credit Rating Is Costing You – DailyFinance

What Your Poor Credit Rating Is Costing You – DailyFinance
News from What Your Poor Credit Rating Is Costing You – DailyFinance:

Credit History formGetty Images By Kelley Holland

The week after Christmas isn’t just a time for cruising the post-holiday sales. For some, it’s when the realization of all that spending over the last month kicks in.

After all, Black Friday got its name because in the past, it was the day when retailers first went into the black, thanks to all those shoppers.

Perhaps a look at the cost of a poor credit score will also help you mend your ways.

Experts estimate that a less-than-sterling credit score can cost you tens of thousands of dollars over the years, since you’ll be paying higher interest rates on everything from

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O.C. buyers owe more, have better credit scores

O.C. buyers owe more, have better credit scores
News from HispanicBusiness.com:

Nov. 26 –Orange County residents in October were in hock with more debt owed than consumers in the U.S. as a whole. But locals also appear to use credit more smartly as a way to manage their money, says Credit Karma, an online site for tracking personal credit scores. Local consumers owed more than the national average in all the credit categories, including credit cards, mortgages, auto loans and student loans, but Orange County residents also had a higher average credit score, 668 to 641. Credit rating agency TransUnion considers credit scores in the mid-500s to mid-600s to be fair, meaning lenders will be cautious in giving you credit. A score in the mid-600s to mid-700s is rated good, which means you probably won’t default on a payment and your lender may offer your more types of credit like auto and home loans. The higher credit score suggests Orange County residents pay their bills on time and keep their overall debt under control. “It interesting to note — and true in many cases — that higher debt does not mean a lower credit score,” said Ken Lin , who carries the dual title of Credit Karma CEO and chief consumer. Your credit score measures how well you manage the debt you have, not just how much is outstanding.” — Mary Ann Milbourn On the move Burnham Benefits Insurance Services , an Irvine -based employee benefits consulting and brokerage firm,…………… continues on HispanicBusiness.com

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Should I decrease my credit limit?

Should I decrease my credit limit?
News from Deseret News:

Can lower credit limits improve your score? With so much riding on them, you’d think all the rules for how to improve credit scores would be transparent.

thanatip, Getty Images/iStockphoto

Enlarge photo»

Editor’s note: This article originally ran on WisePiggy.com. It has been reprinted here with permi…………… continues on Deseret News

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Don’t pay company to boost credit score

Don’t pay company to boost credit score
News from The Detroit News:

Q. I make pretty good money, but my credit score is low. What’s the fastest way to raise my score? I’ve looked for help through credit repair places, but I haven’t decided whether they’re right for me. I have paid off two credit cards and one jewelry account in the last 14 days. Can you help?

A. Yes, I can help. It’s good that you’re thinking carefully about using a credit repair service. In many cases, you’re paying a company to do things that you can do yourself. Plus, many of these companies are disreputable. They’ll take your money, further damage your credit and then disappear. You can fix credit yourself with some patience and a little guidance.

Here’s some background to help demystify the process. Your credit score uses historical data from your credit report to predict your future risk of default. The information on your credit report is usually an accurate reflection of your financial life. And finally, your financial life is a subset of the rest of your life. So if you’re having tough times, more than likely it will show up in your financial life, credit report and then credit score.

You have a low score, so I’m going to guess you have some charged-off, unpaid and/or seriously delinquent accounts on your credit report. The damage to your credit sco…………… continues on The Detroit News

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MONEY & THE LAW: Take care dealing with credit, debt repair

MONEY & THE LAW: Take care dealing with credit, debt repair
News from Colorado Springs Gazette:

On Dec. 12, Colorado Attorney General (and chief consumer watchdog) John Suthers announced that his office had chased down another violator of Colorado’s Uniform Debt Management Services Act.

This time the scofflaw company, out of Plano, Texas, operated in Colorado under the name CreditAnswers. In a legal proceeding that began in February 2012, CreditAnswers and its chief executive officer, William Loughborough, were accused of multiple violations of Colorado law. The case was settled with a payment to Colorado of $ 225,000 and a permanent injunction prohibiting CreditAnswers and Loughborough from ever again having anything to do with debt management activities in this state.

To back up a bit, the Colorado Uniform Debt Management Services Act is a long and complicated statute (42 sections) intended to reign in the activities of companies that charge fees in exchange for attempts to obtain concessions from creditors. Debt management companies market their services as an alternative to bankruptcy, promise customers a better night’s sleep, and, on occasion, suggest they are vital to economic recovery since people relieved of debt problems will again become consumers of goods and services.

Another industry that markets its services to people with debt-related problems falls into a category called “credit repair.” Credit repair organizations offer to ass…………… continues on Colorado Springs Gazette

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