Tag Archive for Ways

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

… Read the full article
.


Related News:

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

… Read the full article


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

…………… continues on The Denver Channel
… Read the full article
.


Related News:

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.) 

… Read the full article


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…

… Read the full article
.


Related News:

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

… Read the full article


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.

… Read the full article
.


Related News:

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

… Read the full article


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

… Read the full article
.


Related News:

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

… Read the full article


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…
Video Rating: 0 / 5

6 Ways You’re Sabotaging Your Credit Repair Efforts

6 Ways You’re Sabotaging Your Credit Repair Efforts
News from Go Banking Rates:

Although the financial climate is improving and unemployment rates continue to decrease, many consumers are struggling. Last year alone, the U.S. Courts reported nearly 1 million cases of Chapter 7 and Chapter 13 bankruptcy filings.

How does a financial hardship like bankruptcy affect your long-term credit health? For one, the damage can remain on your credit report for seven to 10 years.

If your credit is severely damaged because you filed for bankruptcy — or for any other reason — you can still take steps to repair it. In order to do so, though, you need to make sure you don’t hurt your credit even further. Avoid sabotaging your credit repair efforts by steering clear of these common pitfalls.

… Read the full article
.


Related News:


Easy Ways Millennials Can Boost Their Credit

Easy Ways Millennials Can Boost Their Credit
News from Valley News:

According to a report published by Experian at the end of 2013, young adults ages 19-29 had an average credit score of 628 — more than 50 points lower than the national average and the lowest of all the age groups. If you’re a millennial, maybe you’re trying to avoid debt like the plague by staying away from credit cards. Or maybe you rely on a credit card when money is tight, but you have trouble keeping up with the payments. Either way, your credit score might be hurt.

Your credit (or lack thereof) might affect you in the near future more than you realize. Banks, credit unions and auto dealerships decide whether to do business with you based on your credit history. If these guys don’t trust you enough to give you a loan, you might be unable to make big purchases such as a home or a car.

There is good news, though: Your credit is constantly evolving. In fact, any time a lender requests your credit report, a new credit score is created with that report. While your credit can be improved at any time, you have to put in the effort to build a strong credit history.

Here’s how:

Pay All Your Bills on Time: A good payment history can be a large factor in determining your credit score. If creditors report just one la…………… continues on Valley News

… Read the full article
.


Related News:


Top 4 Ways to Spot a Credit Repair Scam

Top 4 Ways to Spot a Credit Repair Scam
News from The Cheat Sheet:

Source: Thinkstock

If your credit card debt has been spiraling out of control, you might be thinking about paying a professional to help you repair the damage.  You’re most likely feeling the pressure and would do anything in your power to relieve the discomfort. You might even be getting sick over it. In fact, the American Psychological Association’s 2015 Stress in America survey finds that financial strain can have a big impact on your health.

Although you may feel distressed, don’t let your delicate emotional state lead you into the arms of a scammer. This will make you a prime t…………… continues on The Cheat Sheet

… Read the full article
.


Related News:

Free credit program offered in Raritan by Central Jersey Housing Resource Center
News from NJ.com:

The Central Jersey Housing Resource Center (CJHRC) offers a free program for those that are trying to establish or re-establish credit, have been denied recently for credit or want to better understand debt and special savings program.

This class will take place on Wednesday, April 8, 5-9 p.m. in the downstairs conference room at CJHRC, 600 First Ave., Raritan 08869.

This workshop has been revamped and will be much more interactive with participants walking away with important information they want and need. While in the past the topic of “Understanding Your Finances” focused on budgeting and tracking of expenses, now in addition participants will each receive a calculator and a bill-paying organizer. The attendees will do a few real-life examples so they feel confident in creating a budget and be able to calculate their debt to income ratio after the program.

Credit is an important topic, and the majority of landlords in this charge $ 25-$ 55 per applicant for a credit check. Your credit score is not the only deciding factor for landlords. This program will cover a lot of information on credit including what makes up a credit score and what is in a credit report.

Participants will learn now to request a free copy of their report from annualcreditreport.com and on April 8 they will have the option of getting a credit report. This is fre…………… continues on NJ.com

… Read the full article


8 Ways to Increase Your Credit Score to Get the Lowest Mortgage Rates

8 Ways to Increase Your Credit Score to Get the Lowest Mortgage Rates
News from Motley Fool:

If you’re seeking the best deal on a mortgage, you’ll need to give your credit some serious attention.

Your credit report and score are two essential elements used by mortgage lenders to decide whether you’ll be approved for a mortgage. The information found in your credit report is used to calculate your credit score. And a higher score reflects a strong credit history and can make you eligible for the lowest possible mortgage rates.

Image: frentusha/iStock.

“Generally speaking, having a high FICO Score makes it more likely a consumer will qualify for favorable loan terms,” says Jeffrey Scott, spokesperson for the Fair Isaac Corporation (FICO).

Lower mortgage rates mean a lower monthly payment and lower interest payments over the life of your loan. In other words, you can save some major cash by improving your credit before you apply for a mortgage. 

Here are eight ways you can give your credit a boost to get the lowest mortgage rates:

No. 1: Know where you stand
Your first stop on the path to a better mortgage deal is creating a baseline. You have to know where you stand in order to improve. Get started by running your credit reports and getting your c…………… continues on Motley Fool

… Read the full article
.


Related News:

No, getting a raise doesn’t improve your credit score, and other widely-held …
News from Bob Sullivan.net:

by Bob Sullivan on March 12, 2015

Click for the full survey

Surprise!  Consumers are still confused about what goes into a credit report and a credit score. Given how opaque these things were for such a long time, it’s entirely predictable that confusion reigns. It’ll be that way for a while.  Credit bureau Trans Union released a survey on Thursday with more proof that the mythology built up around credit reporting will take a long time to undo. Heck — apparently one in four Americans think the Sun, revolves around the Earth, so fixing this will take a while.

The myt…………… continues on Bob Sullivan.net

… Read the full article


Todd Boatwright of News 8 Austin interviews MSI Credit Solutions CEO Ricardo Mendiola. Ricardo shares some insight of how the credit repair process works, and how MSI Credit Solutions assists…
Video Rating: 5 / 5

5 Ways To Improve Your Credit Score – WFMY News 2

5 Ways To Improve Your Credit Score – WFMY News 2
News from 5 Ways To Improve Your Credit Score – WFMY News 2:

5 Ways To Improve Your Credit Score continues on 5 Ways To Improve Your Credit Score – WFMY News 2

… Read the full article
.


Related News:

Give Yourself Some Credit: How to Boost Your Credit Score
News from DailyFinance:

Getty Images If you watch a lot of TV, it may seem like Americans are obsessed with their credit scores. Remember the ubiquitous freecreditreport.com ads? “F-R-E-E. that spells free.” Go ahead, watch them all, we’ll wait.

Sure, if you’ve applied for a car loan or mortgage lately, chances are you know roughly what your credit score is.

But what if you haven’t needed credit? That’s the situation my friend Chris finds himself in. He’s a 30-year-old professional who doesn’t own a car and, apart from some school loans, hasn’t needed to use credit. That’s admirable — no credit card means no credit card debt — but he knows good credit is essential to his future dreams of owning a home and starting his own business.

There’s a bit of mystery that sometimes surrounds credit scores, so I first had him find out his exact number. My favorite way to do this is through the free budget tracker Mint.com. Among its many…………… continues on DailyFinance

… Read the full article