Tag Archive for Improve

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:

Fire Weather Warning issued August 21 at 5:52AM MDT expiring August 21 at 8:00PM MDT in effect for: Moffat, Rio Blanco, Routt

Fire Weather Warning issued August 21 at 5:52AM MDT expiring August 21 at 8:00PM MDT in effect for: Delta, Eagle, Garfield, Gunnison, Hinsdale, Mesa, Montrose, Ouray, Pitkin, San Miguel

Fire Weather Warning issued August 21 at 2:57AM MDT expiring August 21 at 9:00PM MDT in effect for: Boulder, Grand, Jackson, Larimer, Summit

Fire Weather Watch issued August 20 at 10:22PM MDT expiring August 21 at 8:00PM MDT in effect for: Delta, Eagle, Garfield, Gunnison, Hinsdale, Mesa, Montrose, Ouray, Pitkin, San Miguel

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 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 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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The Nation’s Housing: Rent payments can improve your credit score – TriCities.com

The Nation’s Housing: Rent payments can improve your credit score – TriCities.com
News from The Nation’s Housing: Rent payments can improve your credit score – TriCities.com:

WASHINGTON — It’s the great credit divide in American housing: If you buy a home and pay your mortgage on time regularly, your credit score typically benefits. If you rent an apartment and pay the land-lord on time every month, you get no boost to your score — zip. Since most landlords aren’t set up or approved to report rent payments to the national credit bureaus, their tenants’ credit scores often suffer as a direct result.

All this has huge implications for renters who hope one day to buy a house. To qualify for a mortgage, they’ll need good credit scores. Young, first time buyers are especially vulnerable — they often have “thin” credit files with few accounts and would greatly benefit by having their rent histories included in credit reports and factored into their scores. Without a major positive such as rent payments in their files, a missed payment on a credit card or auto loan could have significant negative effects on their credit scores.

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A major overhaul in credit reporting could improve your credit score

A major overhaul in credit reporting could improve your credit score
News from Washington Post:

March 9

The country’s biggest credit bureaus are making changes that could help millions of Americans qualify for better interest rates on student loans, mortgages and auto financing, saving them thousands of dollars.

On Monday, Experian, Equifax and TransUnion said they will be more diligent in resolving disputes over errors and they will wait longer before including unpaid medical debt  in credit reports. The changes, which will take effect in the…………… continues on Washington Post

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8 On Your Side: How to improve your credit score
News from KLAS-TV:

LAS VEGAS – Got parking tickets? Ever rent a car? These seemingly minor things could be dragging down your credit score.

Rental cars are great while you are traveling or without a ride, but paying for them with a debit card can hurt your credit score.

Most rental companies include a clause that allows them to pull your credit history if you pay with a debit card. That is known as a hard inquiry, and it takes your credit score down a few points. The change could linger on your record for two years.

Cell phone companies could also make hard inquiries when you purchase a new cell phone.

While one inquiry won’t hurt you, getting too many in a short period of time could affect your credit score.

Parking tickets can also hurt you if you don’t pay them. Unpaid tickets often get sent to collection agencies. Accounts in collection hammer away at your good credit score.

Messing with your credit in any way also messes with your credit score. If you close a credit card, open a credit card, don’t use a credit card, dispute a bill or request a credit increase, your score is affected.

If you need to do any of these things, don’t do them at the same time. Spread them out.

If you have a problem you want investigated, contact 8 On Your…………… continues on KLAS-TV

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Rent payments can improve your credit score

Rent payments can improve your credit score
News from Chicago Daily Herald:

WASHINGTON — It’s the great credit divide in American housing: If you buy a home and pay your mortgage on time regularly, your credit score typically benefits. If you rent an apartment and pay the landlord on time every month, you get no boost to your score — zip. Since most landlords aren’t set up or approved to report rent payments to the national credit bureaus, their tenants’ credit scores often suffer as a direct result.

All this has huge implications for renters who hope one day to buy a house. To qualify for a mortgage, they’ll need good credit scores. Young first-time buyers are especially vulnerable — they often have “thin” credit files with few accounts and would greatly benefit by having their rent histories included in credit reports and factored into their scores. Without a major positive such as rent payments in their files, a missed payment on a credit card or auto loan could have significant negative effects on their credit scores.

Order Reprint

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Working 4 You: How to improve your credit score
News from KXLY Spokane:

A KXLY4 CONSUMER ALERT TONIGHT.

TAX TIME IS A GREAT EXCUSE TO GET YOUR FINANCIAL HOUSE

IN ORDER.

AND, WE ALL KNOW THE IMPORTANCE OF RAISING YOUR CREDIT

SCORE.

BUT, EVEN YOUR BEST ATTEMPTS TO IMPROVE YOUR CREDIT

MAY BE SABATOGING YOUR EFFORTS.

KXLY4’S MELISSA LUCK, WORKING FOR YOU TO GET YOU ON

THE PATH TO BETTER CREDIT.

Your creidt score is key for everything from a better

line of credit to buying your next house or car.

850 is perfect – and, unrealistic for most of us.

You should aim for a score of 760 or higher.

and, raising that score might be easier than you think.

And, you may be doing more harm than good when it

comes to your credit.

ON A VERY BASIC LEVEL, PAYING YOUR BILLS IN FULL AND

ON TIME IS KEY…

BEYOND THAT.

CREDIT-DOT-COM COMPILED SOME OF THE MOST COMMON MISTAKES

WE MAKE WHEN IT COMES TO CREDIT SCORES.

FIRST.

WHEN IT COMES TO PAYING OFF A CREDIT CARD BILL.

THAT’S GREAT – BUT, DON’T BE SO QUICK TO CLOSE THE

ACCOUNT.

HAVING OPEN AND AVAILABLE CREDIT IS GOOD – IT WILL

RAISE YOUR SCORE.

NEXT.

USING TOO MUCH OF YOUR AVAILABLE CREDIT WILL CAUSE

YOUR SCORE TO DROP.

IF YOU HAVE GOOD CREDIT, YOU WILL GET OFFERS TO OPEN

ACCOUNTS WITH NEW LENDERS.

…………… continues on KXLY Spokane

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How to improve and maintain your credit score

How to improve and maintain your credit score
News from WTNH:

(WTNH)– Executive Communications Director Howard Schwartz from the Better Business Bureau Serving Connecticut talks about Credit Scores – How to improve and maintain a good one.

Every time there is a data breach we are reminded how important it is to check our credit reports on a regular basis. You can get your credit reports for free.

Your credit report will show if an identity thief has been opening lines of credit in your name – but it also contains important information that can affect your credit score.

For more information, go to http://www.bbb.org/connecticut and watch the video.

…………… continues on WTNH
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