Archive for Improve Credit Score

Four ways to improve your credit score

Four ways to improve your credit score
News from CNBC:

Consumers are getting a better grade when it comes to how they use credit these days.

Nationally, credit scores are slowly and steadily starting to improve as more consumers who use credit are managing it more effectively. A recent report on FICO scores—the most widely used credit scoring system—found the national average score is currently at its highest level in nearly a decade.

It’s an encouraging trend, since a credit score is one of the most important factors that lenders use to get a snapshot of risk as they decide what rates to offer on credit cards, private student loans, car loans, home insurance and mortgages. The higher the credit score, the better the rate for which consumers will qualify.

Read MoreWhat millennials don’t know about credit cards

Your FICO score can range from 300 to 850. In April 2015, the average FICO score was 695 up from 688 in October 2005. Acco…………… continues on CNBC

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Raise Your Credit Score 100 Points in 6 Months with These Aggressive Tactics
News from TheStreet.com:

NEW YORK (MainStreet) — You might be surprised at just how much progress you can make in improving your credit in six months or a year. 

In fact, with a few nifty tricks, you can boost your credit score some 50 to 100 points in no time flat.

Especially if you’re looking at buying a house somewhere in the near future, you’re going to want to aggressively pursue raising your credit score for the best rates possible, says John Heath, managing attorney with LexingtonLaw.

Here’s how to make that happen.

First Things First: Pull Your Credit Report

To know what you can do for starters, you’re going to have to pull your credit report and look it over. That’s where any path toward a higher credit score, aggressive or otherwise, is going to begin. What you’re looking for is anything that…………… continues on TheStreet.com

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3 ways millenials can improve low credit scores

3 ways millenials can improve low credit scores
News from The Denver Channel:

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Fire Weather Watch issued August 20 at 10:22PM MDT expiring August 21 at 8:00PM MDT in effect for: Moffat, Rio Blanco, Routt

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3 ways millennials can improve low credit scores
News from Ventura County Star:

Have you heard? Millennials have the worst credit scores of any generation. The data point plays well with one of Americans’ favorite pastimes: discussing the dismal state of the nation’s youngest consumers.

The average 19- to 34-year-old has a credit score of 625, but it’s 650 for Gen X (35-49), 709 for baby boomers and the Greatest Generation (together, those generations include everyone older than 50). The national average is 667. The data comes from credit bureau Experian and uses the VantageScore 3.0 credit score range, which goes from 300 to 850.

Yes, millennials have the lowest average credit score of American adults, but that statistic is neither surprising nor helpful. Building a good credit score takes time, and having poor credit as a young person doesn’t mean you’ll always have poor credit. It’s like a bad haircut: You have to deal with it for a while, figure out how to make it work while it’s in the awkward stages, but eventually, by staying patient and resisting making decisions that can make a bad situation worse, it’ll grow out. (That works both ways: Having a great credit score now doesn’t mean you always will, just like someone with a great hairstyle can easily be set back with a poorly timed buzz cut.) 

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How Long Will It Take To Raise My Credit Score 100 Points

How Long Will It Take To Raise My Credit Score 100 Points
News from Muppet Newsflash:

Fico Score Vs Credit Score Minimum Credit Cards – Compare Credit Card Offers at CreditCards.com – Find the best credit card deals by comparing a variety of offers for balance transfers, rewards, low interest, and more. Apply online at CreditCards.com. Overview of the Vantage Score Credit Score – When most people

How Long Does It Take For Three Point Shooting To Stabilize? – With the increase … calculate how long various baseball stats take to stabilize to see how long it takes for three-point shooting percentage to stabilize. If we were trying to get a sense for how stable three point percentage is after 100 attempts …

Hallelujah 5 Ways To Get Your Fico Score For Free How to Trick Yourself Into Paying Off Your Credit Card Debt – Plus paying off credit cards helps increase your credit sc…………… continues on Muppet Newsflash

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How millennials can improve low credit scores

How millennials can improve low credit scores
News from WPTV.com:

Have you heard? Millennials have the worst credit scores of any generation. The data point plays well with one of Americans’ favorite pastimes: discussing the dismal state of the nation’s youngest consumers.

The average 19- to 34-year-old has a credit score of 625, but it’s 650 for Gen X (35-49), 709 for baby boomers and the Greatest Generation (together, those generations include everyone older than 50). The national average is 667. The data comes from credit bureau Experian and uses the VantageScore 3.0 credit score range, which goes from 300 to 850.

Yes, millennials have the lowest average credit score of American adults, but that statistic is neither surprising nor helpful. Building a good credit score takes time, and having poor credit as a young person doesn’t mean you’ll always have poor credit. It’s like a bad haircut: You have to deal with it for a while, figure out how to make it work while it’s in the awkward stages, but eventually, by staying patient and resisting making decisions that can make a bad situation worse, it’ll grow out. (That works both ways: Having a great credit score now doesn’t mean you always will, just like someone with a great hairstyle can easily be set back with a poorly timed buzz cut.)

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Ways To Improve Credit Score From 660 To 750

Ways To Improve Credit Score From 660 To 750
News from Muppet Newsflash:

Pay Off Debt. The amount you owe accounts for 30% of your credit score, and if you have a lot of credit card debt and other accounts with big balances, systematically …

Credit Score Needed to Buy a House (and Get a Mortgage) – Note: This is an ongoing project. We have set up Google alerts for phrases such as credit score needed to buy a house. Whenever a new article or news story is …

Credit score – Wikipedia, the free encyclopedia – In the United States, a credit score is a number based on a statistical analysis of a person’s credit files, that in theory represents the creditworthiness of that …

Learn what scores you’ll need on the Chemistry SAT Subject Test for college … Learn What Chemistry Exam Score You Need for College Admission or College Credit … 33% of students scored between 750 and 800; 22% scored between 700 and 740; … 660, 54. 640, 48. 620, 43. 600, 37. 580, 32. 560, 27…

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How to Improve Your Credit Score by Negotiating With Creditors
News from Go Banking Rates:

Over time, delinquent debt is a financial hole that becomes deeper and harder to climb out of. It could be a past due credit card bill, or a car or mortgage payment. No matter how big or small, a debt left unchecked and unpaid will eventually find its way to a collection agency.

When this happens, the delinquent debt is filed on your credit report, a common problem in the U.S. According to a 2014 study from the Urban Institute, more than one-third of Americans have a debt in collections listed on their reports.

If you’re behind on bill payments, you can find ways to negotiate down your debts. Negotiating through your original creditor can help you dodge collection agencies, get rid of debt and improve your credit score.

Related: How to Find Out If You Have Debt in Collections

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7 ways to increase your credit score quickly

7 ways to increase your credit score quickly
News from Christian Science Monitor:

Your credit score will determine whether you will get approved for credit cards, auto loans, mortgages, or other loans, as well as impact the interest rate you’ll pay. If you aren’t happy with where your credit score is today, take heart: There are some simple ways to improve it quickly. Once your credit score improves, you’ll be able to enjoy perks like lower interest and insurance rates.

Note that while these tips will help you raise your credit score quickly, be patient and remember that it can still take 30–60 days to see any noticeable improvement.

Credit Utilization Ratio

Your credit utilization ratio makes up 30% of your credit score. It’s the number that shows how much debt you have compared to your total available credit. The more unused credit you have available, the lower your ratio. For example, if the credit limit on all your cards total $ 10,000, but you owe $ 8,000, your credit utilization ratio is 80%. You’re using 80% of your credit. That’s pretty high — a ratio of 30% or less is ideal. There are three main ways to lower your credit utilization ratio.

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Call Christina team helps viewer fix credit score
News from Local 10:

PEMBROKE PARK, Fla. –

When a Local 10 News viewer reached out to the Call Christina team about his downgraded credit score due to an unpaid debt on his credit report, Local 10 News sought advice on how to challenge  and improve credit ratings. 

“This is the marks on my credit report.  The 697 has always been above 750,” Luis Barranuevo said.

Barranuevo’s credit score took a hit after a car financing company reported him for a debt he didn’t know he owed.

“It’s not fair,” Barrnuevo said. 

Having a good credit score is vital.  Our lives revolve around it. “Because bad credit costs you a lot of money,” consumer protection attorney Jason Weaver said. 

So what’s a really good score?  Local 10 News asked some viewers. 

“Credit scores you see them over 800 now, which is real good,” Guy Abbotoni said. 

“700, 720 — anything over 700 I would consider good,” Stan Cohen said.       

A good credit score is more than just paying your bills on time. Those three digit numbers are the key to our financial health. The credit scoring system gives lenders information on who is most likely able to repay a debt. 

…………… continues on Local 10

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Will asking for a credit increase harm your credit?

Will asking for a credit increase harm your credit?
News from CBS News:

By Nicholas Pell/MainStreet.com

You don’t actually have to need a credit limit increase to make getting one a good idea. Increasing your credit limit can increase your total available credit, which will in turn lower your credit utilization ratio. But how do you go about getting your credit limit increased? If you do increase it, are there any negative consequences for your credit? For those who have been thinking about getting a credit limit increase, here’s how to know if the time is right for you.

Should you apply for an increased credit limit?

Mike Sullivan, director of education with Take Charge America, notes that increasing your credit isn’t the worst thing you can do. It will lowe…………… continues on CBS News

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7 Ways to Build and Improve Your Personal Credit Score

7 Ways to Build and Improve Your Personal Credit Score
News from Entrepreneur:

In his book The Tax & Legal Playbook, CPA and attorney Mark J. Kohler targets the leading tax and legal questions facing small-business owners, and delivers clear-cut truths, thought-provoking advice, and underutilized solutions to save you time, money, and heartache. In this edited excerpt, the author offers quick tips you can use to start improving your personal credit score, which has a direct impact on whether you can obtain corporate credit.

Corporate credit is the ability of a company to obtain its own loans under its own credit score. Thus, a company (such as an S corp or LLC) can apply for a line of credit and, without the owner’s personal guarantee, use the money to expand its business. The owner of the company isn’t personally liable for the credit line, and their personal credit score has nothing to do with the company’s ability to obtain credit. However, in some instances, having a good personal credit score can expedite the process of obtaining corporate cr…………… continues on Entrepreneur

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Get your credit score ready for home-buying season
News from Times Herald-Record:

Getting ready to buy a home this spring? Make sure there aren’t any cracks in your credit. A good credit score is essential when it comes to securing a mortgage.

“If (your score is) below 600, you’re probably not going to buy a home in the short term,” says Mike Sullivan, director of education at nonprofit credit and debt counseling agency Take Charge America.

Given the slew of stringent regulation introduced following the housing crisis, most lenders simply won’t risk extending this demographic credit. In fact, even consumers with good scores should polish up the ol’ credit report.

Qualifying for the best mortgage rates starts at a 740 credit score. Scores below that threshold will likely have higher interest on their home loans.

So if you plan on hitting up the housing market this April, make sure to pull a copy of your credit report and check to see where your score stands.

Check your status

Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, or Credit CARD Act, everyone is entitled to one free credit report from each credit bureau every year.

Obtain a copy o…………… continues on Times Herald-Record

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David Seeger of Great Lakes Credit Union talks about the simple steps you can take to improve your credit score. Money Monday on NBC 24 Today, March 2, 2015 For the latest News-Weather-Sports…
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Take These Steps to Improve Your Credit Score

Take These Steps to Improve Your Credit Score
News from Techli:

Take These Steps to Improve Your Credit Score

Brought to you by Bank of America: Better Money Habits

Your credit score impacts many important financial decisions in life, from car loans to mortgages, so it’s important to manage it. For instance, applying for a lot of credit cards in a short period of time could negatively affect your score. Check out all of the credit-related do’s and don’ts below on how to improve your score and ensure it’s attractive to potential lenders.

Now that you’ve learned some tips on how to boost your credit score, you may be wondering the best way to manage your credit cards. Check out the video below to better understand how your balance and the number of credit cards you have influences your score so that you can start building healthy credit.

For more information on how to boost your credit score, visit Better Money Habits from Bank of America

Share and Enjoy

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Millennial, Gen-X or Boomer, Here’s How to Boost Your Credit
News from MainStreet:

NEW YORK (MainStreet) — You might think younger Americans would rely on their elders as role models when it comes to credit health, and maybe they would — if they were pointed in the right direction.

The 2015 Chase Slate Credit Survey shows that Millennials, for example, might draw inspiration from Generation X instead of their Baby Boomer parents. Chase says that 96% of Gen-Xer’s have checked their credit scores, while 28% of Boomers are defined as “having never taken steps to improve their credit score.”

There is trouble across all age demographics, however. Chase also reports that two in five Americans don’t know their credit score and more than half don’t know paying bills on time is the primary driver of a credit score. Yet two-thirds say they’d like to be able to improve their score in the next year.

“Having healthy credit could mean the difference between achieving major life goals, such as buying a home or starting a small business, and nev…………… continues on MainStreet

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UA Matters: Myth vs. Fact about Credit Card Use, Credit Scores, History

UA Matters: Myth vs. Fact about Credit Card Use, Credit Scores, History
News from UA News:

Dr. Melissa Wilmarth

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