Tuesday, May 17, 2011
Sunday, May 15, 2011
Saturday, May 14, 2011
Improving your FICO® credit score
Improving your FICO® credit scoreIt’s important to note that raising your FICO credit score is a bit like losing weight: It takes time and there is no quick fix. In fact, quick-fix efforts can backfire. The best advice is to manage credit responsibly over time. See how much money you can save by just following these tips and raising your credit score.
Payment History Tips
* Pay your bills on time.
Delinquent payments and collections can have a major negative impact on your FICO score.
* If you have missed payments, get current and stay current.
The longer you pay your bills on time, the better your credit score.
* Be aware that paying off a collection account will not remove it from your credit report.
It will stay on your report for seven years.
* If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
This won't improve your credit score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.
Start changing your credit profile today!
As you may have already experienced, many people are rejected after filling out a credit card application because of poor credit or credit not yet established. This presents a problem because a major credit card is often needed for important business transactions like making hotel or airline reservations. Credit cards are also necessary when placing online or phone orders. For those with bad credit, prepaid credit cards open up the possibility of engaging in these transactions. These cards also may be used by parents that want to give their children credit cards to use while limiting their purchase power. Prepaid cards also present a great way to limit purchases to a specific amount. Please look at some of the information presented and start benefiting from the different methods you can use to enter or re-enter the world of credit!Secured credit cards are a great way to establish or rebuild your credit history. Generally accepted wherever major credit cards are accepted, secured cards are easy to get, even if you have bad credit or no credit history.Some cards will even help build a positive credit reference with the three major credit reporting agencies once payments are made on time.
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