Follow these steps to help improve your credit score and debt.
News from ABC News:
The National Foundation for Credit Counseling conducted an unscientific—but eye opening—online poll, which revealed people are more embarrassed about their credit and debts than they are about their age or weight!
Granted, the poll was conducted via the foundation’s home page, so the people who come there are already worried about their debts, but still! Here’s how recipients responded about what embarrasses them most:
1. Credit card debt 37%
2. Credit score 30%
3. Weight 2%
4. Bank Balance 10%
5. None of the above 9%
6. Age 1%
“Excessive credit card debt should be seen as a warning sign that a person is in the financial danger zone,” said Gail Cunningham, spokesperson for the NFCC. She added that “Such activity is likely to negatively impact a person’s credit report and potentially result in a lower credit score.”
Here are my top three tips for reducing your debt and for raising your score… so you can get back to worrying about your weight!
To Reduce Your Credit Card Debt:
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The Laziest Ways to Improve Your Credit
News from ABC News:
There are people out there who expend a lot of energy in the quest for a totally meaningless perfect credit score, which I’ve written about elsewhere. Most people know it’s important to have good credit, but they don’t want to spend too much time worrying about it. The good news is that you can be pretty lazy and still improve your credit.
The difference between having good credit (generally from 700-749) and bad credit (anything below 620) can mean the difference between getting the car you want versus the car with monthly payments you can afford. A well-managed credit history can make home ownership possible years before a poorly managed one, while really bad credit could cause you to lose a rental apartment to someone more vigilant about their personal finances.
Credit is an investment that accrues value through behavior. If you do the right things, your score will increase. Like an investment portfolio, your credit portfolio can improve your quality of life. But just like any investment, a credit portfolio requires some basic knowledge and maintenance.
Here are four very easy things you can do to start improving your credit.
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