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Archive for the ‘Credit Tips’ Category

Establishing a good credit history has never been as important as it is today.

It’s not just that you’ll need good credit to get decent rates when you’re ready to buy a home or a car. Your credit history can determine whether you get a good job, a decent apartment, a deal on your cell phone and reasonable rates on insurance. One seemingly minor misstep — a late payment, maxing out your credit cards — can haunt you for years.

If you’re just starting out, you have a once-in-a-lifetime opportunity to build a credit history the right way. Here’s what to do and what to avoid.

Check your credit report

You’ll first want to see what, if anything, lenders are saying about you. That kind of information is contained in your credit report at each of the three major bureaus: Equifax, Experian and Trans Union. You’re entitled to a free annual look at your reports from AnnualCreditReport.com.

Credit reports are used to create your credit scores, the three-digit numbers that lenders typically use to gauge your creditworthiness. Lenders also may look at the reports themselves, as may the landlords, employers, insurers and utility companies who use credit to evaluate applicants.

Can you have a credit report if you’ve never had credit? Maybe.

Somebody else’s information could be mixed in with your report, either through a credit bureau mistake or because of identity theft; i.e. someone using your personal information to open bogus accounts.  Read more...

No matter what type of credit you’re in the market for, Christian credit or any credit, remember building credit takes time and you have to start somewhere. The Commandment Card is designed to help will help you establish the credit foundation you need to achieve any and all of your credit needs. The Commandment Card carries a 0% interest rate for the life of the card so building credit and purchasing the faith based products you just became easier and more affordable. Once approved for this Christian credit card you will start building credit immediately. Our Christian credit card site provides a host of inside credit tips, car buying tips, and a blog to ask any type of credit questions. Below are some of the typical credit question and answers that are on our blog.

Does my debt to credit ratio affect my credit score?
Yes, the more debt you carry the lower your credit score will be. This Christian credit card will help you lower your overall debt ratio provided you carry a low or zero credit balance.

Will owning the Commandment credit card help me when I buy a house?
Yes. This Christian credit card reports as an unsecured credit card meaning that you have been able to repay your credit account balance without any sort of collateral.

Is the Commandment credit card for good credit or bad credit individuals.
The Commandment card is uniquely designed for all types of credit history, good, bad, or no credit history. This type of unsecured credit card requires no credit check or co-signer to qualify.  Read more...

Monitoring your credit scores is a good way of keeping track of your credit ratings. Consumers should be well-informed about the ways to avoid oneself from getting into deep financial mess. If you are thinking about getting a car loan, purchasing a new Mac notebook or getting another credit card, check your credit report first. Carrie Kunz, the head of the consumer education division for the website www. Freescore.com has outlined several credit tips for consumers.

Pay bills on time. This is perhaps the most important reminder for all credit card holders. Keep your credit balances as low as you can manage, including what most would call, “revolving credit.” It is also very important to be current and stay current about missed payments, so you can monitor how much interest has been adding up to your credit. Remember that paying off an account will not erase the record from your credit report. If you have been having problems with previous credit history, always check with your agency.

When checking your credit report, you can always do this on your own. Comb and read through the fine print. This is what many people fail to do. Credit reporting agencies such as AnnualCreditReport.com and organizations such as FreeScore.com provides credit report scores to their consumers.  Read more...

In the present scenario, loans have become the easiest way to fulfill your dreams. Owing your own motor vehicle and that too of your choice is one of the common dreams. But due to the scarcity of funds, people are bound to suppress their desires. Auto loans for people with bad credit are not a big deal now. Nationwide, lots of companies offer car loans to people holding bad credit and no credit. All you need is to search at the correct places. Find below some of the useful tips:
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Payday Loans are available to those who have a stable job, but not a good credit background. These loans are cleared for the people who are having stability in job with constant income. Hence, payment to the loan can be done from the income through job; and not from credit rating. Hence, it is a successful strategy to get loans for the people having bad credit.  Read more...

These are just a few of the best credit tips and facts to help you improve your credit report and score and give you some ideas for fixing or repairing your credit. When buying a car get pre-approved first at your bank or credit union for example, because car dealers will contact several companies in an effort to get you the cheapest rate and this will affect your FICO score because you’ll have several hits at one time on your credit report.

It’s often recommended to drastically reduce your credit card use leave your credit card at home. However many people find it hard to do this if they need to carry it in case they need to call for a tow truck or other emergency. Weigh the risks.

If you can’t make your payments on time, contact your creditors immediately. Always be proactive when it comes to any debt you have. Develop a simple plan to repay your debt, and do your best to follow that plan even if it’s only to pay a small amount each month.

If you contact your creditors write down the specific names and phone numbers of your contacts at the companies. Follow up any phone conversations with creditors with letters confirming any agreements you’ve made.

Keep in constant contact with your creditors until you resolve your credit problems. Bankruptcy should not be the first solution to your financial problems. It doesn’t wipe your credit slate clean or give you a fresh start because it stays on your credit report for up to ten years.  Read more...