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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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24 Things You Need to Know to Build Credit

24 Things You Need to Know to Build Credit
News from Go Banking Rates:

If you’re trying to boost your credit score, it pays to know everything you can about how the scores are figured, what affects them and how you can improve that credit score as quickly as possible. Below are 24 facts you need to know.

These 5 things surprisingly don’t affect your credit score >>>

1. A credit score ranges from 300 to 850.

Your score is calculated using information in your credit reports, one from each of the three credit bureaus: Experian, TransUnion and Equifax. Creditors use it to determine the chance that you will repay a debt as agreed.

2. Good credit can save you money…………… continues on Go Banking Rates

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Pay all your bills on time to get more credit
News from Times of India:

MUMBAI: Timely payments of telephone and electricity bills and even insurance premiums will soon be an input for determining the credit-worthiness of a borrower by credit information bureaus with the Reserve Bank of India pushing for an expansion of data on borrowers. According to the central bank, this will improve credit bureau coverage from 20% to 70% of prospective borrowers and will enable those in remote areas to get loans.

At present, when a borrower seeks a personal loan or a credit card, the lending institution checks his credit score from credit information bureaus like Cibil, which gives it an idea of his record in repayments. Based on the score, the institution decides whether to lend and at what rate.

Although RBI cannot direct telecom companies, insurers or utilities to share customer data, globally such companies have volu…………… continues on Times of India

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6 ways to build credit without a credit card

6 ways to build credit without a credit card
News from Pittsburgh Post Gazette:

Whether you’re new to using credit or have made a few dire credit mistakes in the past and need to rebuild, growing a robust and positive credit historycan dictate the interest rates you’re offered when financing a big-ticket purchase, like a car or home, or whether you can obtain a loan at all.

Generally, shoppers turn to conventional credit cards to build and demonstrate creditworthiness, but if you don’t have a strong credit history, some creditors are unwilling to risk granting you a line of credit. This catch-22 makes it difficult for someone with good intentions to improve his credit score.

Learning how to build credit isn’t a talent reserved for a lucky few, you just have to take deliberate action to positively change your credit score. Here are six helpful tips from credit professionals and real people who’ve had success building good credit.

Related: Here’s How to Get the Highest Credit Score Possible

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How To Escape The Bad Credit Trap And Build Your Small Business

How To Escape The Bad Credit Trap And Build Your Small Business
News from Tech Cocktail:

Investors and small business owners are involved in a never-ending struggle to maintain a steady flow of cash. However, this is not easy to do when bills are piling up at a faster rate than sales can be closed. Yet running out of operating capital is not an option because it can cripple any aspiring company.

Financial problems are further aggravated when the company also has a poor credit score. Moreover, unless it is repaired, it can be almost impossible to finance projects because it will be hard to borrow money from banks and credit unions.

Banks Risk-Averse

Although the economy has been improving over the past few years, it is still difficult to get a business loan. This is particularly true for a company that has some blemishes in its credit history. Most banks and credit unions are unwilling to give a small business owner a loan if their credit scores are below average.

The Trap

Ironically, banks are not willing to admit that a company may have valid reasons for a poor credit score. After the financial crisis in 2008, there was an economic downturn for the next two years, w…………… continues on Tech Cocktail

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Film Review: ‘The Mule’
News from Variety:

If some movies leave you feeling in need of a shower afterward, then nothing short of a colostomy will do after a viewing of “The Mule,” an excremental but hardly execrable Australian comedy-drama that plays like the klutzy, sheets-soiling stepbrother of “Maria Full of Grace.” A triple-threat showcase for co-director, co-writer and star Angus Sampson, cast as a lunkheaded amateur crook who attempts to smuggle several pounds of Thai heroin in his gastrointestinal tract, Tony Mahony’s directing debut brings new meaning to the term “gut-wrenching suspense,” its scatological-time-bomb premise lending a darkly funny novelty to the otherwise routine crime-thriller shenanigans. Well traveled on the festival circuit following its SXSW premiere, the pic could enjoy decent theatrical runs.

To his partial credit, oafish loser Ray Jenkins (Sa…………… continues on Variety

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First ever program launched to help Northlanders build credit scores

First ever program launched to help Northlanders build credit scores
News from Northland’s NewsCenter:

By KBJR News 1

April 2, 2014 Updated Apr 2, 2014 at 10:09 PM CDT

Duluth, MN (NNCNOW.com) — Whether you’re in debt, looking for a loan, or just trying to build your credit score, a new program launched today in the Northland will help you do just that.

The new Credit Builder Program, launched Wednesday at Park State Bank in Duluth, is designed to help consumers build credit for the first time or improve damaged credit scores.

The program also helps Northlanders build-up a savings account by taking out a loan that is repaid in monthly installments.

The full loan amount goes into an interest-bearing deposit account held at the bank, and when payments are complete the customer’s credit score should be improved and they will also walk away with more money due to accrued interest.

Dale Lewis, president of Park State Bank…………… continues on Northland’s NewsCenter

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Young farm producers, build your credit

Young farm producers, build your credit
News from NUjournal:

From Tina LeBrun and Wayne Schoper

South Central College

As a young producer, there is a chance you might be viewed by lenders as a financial risk. Your net worth is probably low and your credit score could be almost nonexistent. Understanding how credit is determined and how to improve your standing can be essential as you start buying farm assets such as inputs, machinery, and land.

Article Photos

Tina LeBrun and Wayne Schoper

Most financial advisors agree that it’s never too early to lay the groundwork for a strong credit history. To discover credit risk, lenders often buy a credit report and credit score from a credit reporting agency. The credit report includes your type of credit (credit cards, loans, mortgages, etc.), credit limit, account balance, payment history and bankruptcy history. Credit scores (usually between 300 and 850) are based on the details in your credit report. Lenders use the score to determine their level of risk when lending to you. Generally, the higher the credit score, the lower the risk you pose as a borrower.

Establish a healthy credit history by taking out a small loan that can easily be paid back, it’s much simpler to ask a le…………… continues on NUjournal

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Lease Options University.
Lease Option And Credit Repair System.
Lease Options University.

PayToo’s new mobile wallet helps consumers build, repair their credit

PayToo’s new mobile wallet helps consumers build, repair their credit
News from Mobile Payments Today:

Mobile payments has been touted for some time as a way for the unbanked to participate in electronic commerce. That’s all well and good for those who are “cash preferred,” but it doesn’t do anything for people hoping to use mobile payments to help build or repair their credit.

It’s these consumers that PayToo, a Ft. Lauderdale, Fla.-based mobile payment company, is trying to reach with its new PayTooSafe account. PayTooSafe is the only free, secured mobile payment account that reports to the three main credit bureaus.

With PayTooSafe, users make a fully-refundable deposit to establish a credit line and begin using their card. The program is like a debit account in that it requires a prepayment, but the deposit is never actually used to pay down a balance. Instead, it simply secures the account.

The user demonstrates credit worthiness by using the card and paying off the amount. That performance is then reported to the major credit bureaus either to establish or to repair credit history.

“Offering the best product or services is not enough, we wanted also to offer the best way to save money using our services and to help the global economy,” Michel Poignant, CEO of PayToo Corp.

The downside is that the security deposit doesn’t earn any interest at this point, but this is balanced by…………… continues on Mobile Payments Today

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3 Ways to Help Your Child Build Great Credit

3 Ways to Help Your Child Build Great Credit
News from MainStreet:

SEATTLE (Creditnet.com) — Responsible parents should want to make sure their children understand how to build credit. Like it or not, credit scores are a big deal, so why not teach your kids how to embrace them instead of ignore them?

For some parents it might seem easier to just avoid the whole credit issue. After all, credit cards can be dangerous in the hands of a teenager who doesn’t understand how they work. Other parents may understand the importance of helping their children build a solid credit history, but remain unsure about how to do it while protecting their own credit scores.

Wherever a parent stands on the issue, here are three easy ways to help your child build great credit from a young age. Follow these tips and your children should find themselves on financially sure feet relative to peers by the time they reach college. You won’t regret it, and your children will thank you.

1. Start young by opening a checking account and using a debit card

While a checking account and debit card won’t technically improve your child’s credit, the key to building a great credit score lies in establishing solid money management skills at a young age.

Help your child set up a free checking account in their own name, have them regularly deposit any money earned, a…………… continues on MainStreet

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Call Kurtis: Build Your Credit With a Little-Known Loan

Call Kurtis: Build Your Credit With a Little-Known Loan
News from CBS Local:

If you’re thinking about capitalizing on the housing market or you’re trying to secure financial aid for a college student, you’re going to need good credit to get decent interest rates.

We stumbled upon a little-known loan offered by some credit unions. The main purpose of it is to help you build or repair your credit.

“I just knew that I wasn’t credit-worthy,” said Malika Alim of Oakland.

She had a number of missed or late credit card payments on her credit report, so a couple of years ago, when Alim wanted to get a car, she knew getting a loan would be next to impossible.

“Credit is similar to a driver’s license. You need to have it and you don’t really appreciate it until you don’t have it,” said Alim.

She found the “Fresh Start” loan at her credit union, Community Trust. It’s a credit-builder loan, which are often found at credit unions.

They work kind of like layaway; instead of getting the money up front, the credit union keeps the loan amount, say for example, $ 1,000, frozen in a savings account.

You make payments, with interest, until the $ 1,000 is paid off, then you get the money. Meanwhile, the payments are reported to the credit bureaus. If you paid on time, it will help your credit score go up. If you don’t pay on time, the loan could hurt your credit. But you can usually stop the loan if you can’t afford p…………… continues on CBS Local

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Credit Repair
Credit Repair

Credit problems? Get the acclaimed plain-English guide to fixing your credit report!

Nearly 80 percent of credit reports contain errors. In a tough economy when credit is tight, you need to be certain that your financial records are correct and up-to-date. A less-than-flattering report can hurt your chances of qualifying for credit card, loans, renting an apartment or even finding a job.

But a bad credit report can almost always be improved or corrected. Credit Repair shows

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