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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

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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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Consumer Reports: Steps to rehab your credit score – Richmond.com

Consumer Reports: Steps to rehab your credit score – Richmond.com
News from Consumer Reports: Steps to rehab your credit score – Richmond.com:

Credit-scoring models are like snowflakes: There are a lot of them, and no two are exactly alike.

FICO alone sells 65 versions.

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Improve Your Credit Score with Credit Canada

There are a lot of myths and misunderstandings about credit reports. Our professionally certified credit counsellors will help you understand how credit repo…

11 steps to improve your credit score

11 steps to improve your credit score
News from ConsumerReports.org:

Don’t open too many new credit accounts at once

By doing so, you lower the average “age” of your accounts, which can lower your credit score.

Keep credit balances relatively low

Maintaining a revolving credit balance under 10 percent of your total credit line is wise, experts say. A higher ratio indicates an elevated credit risk.

Beware of points-driven high balances

If you charge everything on your rewards card for the points, switch to cash or a debit card for a couple of months before applying for new credit. Lenders can’t tell from your score whether you zero-out your balances every month. They’ll see your credit score, a snapshot in time, showing that you’re charging a lot relative to your credit limit, which is a negative.

Maintain a variety of credit types

Successfully paying, say, an auto loan, a 

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Which Credit Score Should I Pay Attention to?
News from STLtoday.com:

There is no one credit score. There are many.

The one that matters the most is the credit score that a lender looks at when considering your loan or credit card application. So how do you make sense of all of the credit scores out there?

Most lenders use FICO scores or VantageScores when evaluating consumer credit applications. And among those, there are hundreds of custom scores for specific uses. All are based on payment history, debt usage, age of credit accounts, credit mix and credit inquiries — the basics of great credit. And all are designed to predict how likely consumers are to repay a loan. The three major credit reporting agencies have all developed scores as well, and sometimes they develop custom scores for particular clients. Each has its own method to predict which consumers are most — or least — likely to pay loans or credit cards as agreed.

The credit bureaus also make some scores available to consumers. These are often given to consumers for free, and they can be good tools for learning about credit…………… continues on STLtoday.com

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Improve your credit score by making payments on time and keeping cards at a balance less than half the credit limit. Learn how to improve your credit score f…
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3 Crucial Steps Toward Credit Repair

3 Crucial Steps Toward Credit Repair
News from Motley Fool:

If your credit is bad, or not as good as you would like, there is no time like the present to get things moving on the right path. After all, your credit report and score are fluid, meaning that they simply indicate how strong your creditworthiness is now. What they look like in the future is up to you.

There are some credit repair steps you can take now, and with a little effort, you could begin to notice your credit improve very soon.

Know where you stand
You can’t really start fixing your credit unless you know what’s wrong. Fortunately, by law, you are entitled to a copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) absolutely free of charge once a year.

You can request your reports at this website set up by the credit bureaus. Be aware that most places advertising a “free credit report” are not part of this program, and will require you to sign up for a credit monitoring service. The actual annual credit report site will not ask for your credit card information or any monetary commitment whatsoever.

Once you have obtained your credit reports, go through them and highlight any negative entries…………… continues on Motley Fool

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Feds call for shutdown of bogus debt relief and credit repair scheme
News from ConsumerAffairs:

© John Takai – Fotolia.com

The Federal Trade Commission (FTC) wants a federal court to drop the hammer on a debt relief scam that claims to have the endorsement of President Obama .

According to the FTC, two websites promoting what is called the “Bill Payment Government Assistance Program,” are full of misrepresentations about the fake program.

The sites claim the program was governed by the Recovery Accountability and Transparency Board, a government agency formed to oversee projects funded by the American Recovery and Reinvestment Act of 2009.

In addition, YouTube videos created by the scam’s operators included a purported personal endorsement from the president with an audio recording of him saying, “I approve this message.”

Via YouTube

Cleaning up your credit

The FTC’s complaint alleges that the defendants purported to offer up to $ 75,000 in debt relief to consumers, along with promises that consumers’ credit scores would “increase within 30 days.”

Consumers contacting the scammers, according to the complaint, were told that in exchange for an advance “service charge” of $ 900 to $ 1,100, the defendants would pay off the consumers’ debts.

According to the complaint, scammers would ask consumers for details of their outstanding debt, including account numbers, and then arrange bogus electronic pa…………… continues on ConsumerAffairs

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How to Improve Your Credit Score With a Few Simple Steps

How to Improve Your Credit Score With a Few Simple Steps
News from Boston.com:

The credit score is one of the most important parts of your finances. This three-digit number gauges how responsible you are with money and can determine what interest rates lenders will charge you on mortgages and auto loans. The most important part of maintaining a strong credit score is to pay your bills on time. Another major component of the credit score formula is how much debt you owe, or your utilization ratio, which is how much debt you owe vs. the total available credit limit you have.

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Follow these steps to help improve your credit score and debt.

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:

•Negotia…………… continues on ABC News

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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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Steps for Credit Repair

Steps for Credit Repair
News from ParamusPost.com:

By Angela Sanders    Thursday, March 27, 2014, 07:04 AM EDT   

Most of us are in a debt trap. No matter, how much we might try we always end up in a debt trap. Thanks to the recession in 2008, all of us got entangled into a vicious circle of debt that slowly gnawed its way into our savings and gave us sleepless nights. Needless to say, it also gave us a headache called poor or low credit score. Here are some important ways and means that would actually aid you in repairing your credit score and improving it.

Review your Credit Status: It is important to review your credit history once in a while. You should always be aware of what debt you had taken and what are the debt items or payment history that is pulling down your score. Many people, on reviewing their credit score wake up to the fact that there are erroneous data captured in their name. Many repayment details are not updated or are not accurate. Hence, browse through your credit history to know exactly where you stand, so that you can take steps to rectify it. Surely, you would not want things to pull down your credit score that are incorrect.

Set reminders for payment dates:…………… continues on ParamusPost.com

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Appeals court liberally interprets credit repair statute – Lexology (registration)
News from Appeals court liberally interprets credit repair statute – Lexology (registration):