Learn how to manage and improve your credit score
PAY YOUR BILLS ON-TIME.
Your payment history is the most important factor in determining your credit score. Recent history carries more weight in determining credit score than what happen 5 or 10 years ago. So if make it a habit of paying your bills on time, it is a great way to start rebuilding your credit rating.
NOTE: If you miss paying your bills (EVEN ONCE) it will knock 50-100 points off a good credit.
PAY DOWN YOUR DEBTS
Lenders like to see plenty of breathing room between the amount of debt reported on your bad credit cards and your total credit limits.
The more debt you pay off, the wider that gap and the better your credit score.
CONSIDER CHARGING LESS
What many people don't know is that credit scores don't distinguish between those who carry a balance on their cards and those who don't. So charging less can also improve your score -- even if you pay off your poor credit cards each month.
DON'T CLOSE OLD, PAID OFF ACCOUNTS
Here's the word from direct from Craig Watts, an executive at Fair Isaac & Co., one of the leading credit scorers: "Closing accounts can never help your score, and often it can hurt."
Shutting down credit accounts lowers the total credit available to you and makes any balances you have loom larger in credit score calculations. If you close your oldest accounts, it can actually shorten the length of your reported credit history and make you seem less credit-worthy.
DON'T BE AFRAID OF CREDIT COUNSELING!
If you're overloaded with high-interest debt and are in danger of falling behind on your payments -- or you already have -- consider working with a nonprofit agency such as Consumer Credit Counseling Services to set up a debt repayment plan. These s
FTC's Credit Repair Tips
STEPS: Credit Repair Guide
1. Order credit reports. You can get an Experian Free Credit Report
2. Check for discrepancies.
* How To Prevent Errors on Your Credit Report
3. Note problems and discrepancies in your Credit Dispute Log.
4. Contact disputed companies by telephone. (Contact original debtors, not collectors.)
Log the telephone call with a brief summary of agreements.
Remember to record the name of the contact representative.
5. Follow up with certified letter to original company.
6. Write letters to collectors, dispute bill, send documentation of payment to original company.
7. Fill out dispute form provided by credit bureau.
8. Write separate letter for each disputed item to credit bureaus.
Send letters by certified mail.
Enclose copies of supporting documentation.
9. Use the number provided by the credit bureau and call for progress; have your reference number handy.
10. Keep comprehensive records in your Credit File.
For more information about credit repair click here.
HELPFUL LINKS!!
FREE Credit Repair Guide
Do you know which is better for you, home equity or refinance? Or do you want to know the ways to accomplish debt consolidation loan?
Discover the secret on how you can quickly and easily repair your own credit. Join our mailing list and receive our FREE credit repair guide. We used this guide to increase our credit score by 150 pts in 6 months!
Get rid of your credit worries,
SIGN UP for your FREE Credit Repair Guide
Avoid Credit Repair Scams
When your bills seems unmanageable it seems like a reasonable solution to ask help to credit repair agencies. BE CAUTIOUS. Make sure they they are not a scammers.
Here are the warning signs to avoid credit repair rip-offs:
1. If they ask you to pay their service before the service is provided.
2. Does not tell you about your legal rights
3. Tells you to dispute all information in your credit report
4. Suggests that you take actions that seems illegal like creating a new credit identity.
Credit Cards That helps Rebuild Credit Score
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Click here to know more about this card. Financial problem? Here's the answers...
- Bad Credit Card and Credit Loan Reviews
Here you will find credit card companies/lenders who specialize in approving credit to people with no or bad credit. - Not Enough Capital To Start A business? Equipment Leasing is the answer.
Our equipment leasing programs allow us to finance most types of equipment, new or used. It provides 100% Financing (including shipping & installation). - Bad Credit Personal Loans
Here are the list of lenders that specialize in providing loans to people with bad credit. These lenders will help you paying your overdue bills, emergency needs and overnight loans. - New Business? Startup? We Can Get You Financing!
We can help you obtain up to $50,000 unsecured to finance your new business! - Bad Credit Payday Loans
- Business Line-of-Credit
A line of credit allows your business to have a more affordable way of borrowing. It's a great way to manage unexpected expenses. Lines of credit provide ready cash to help you meet short-term funding needs, such as increasing inventory, dealing with seasonal cash flow issues, or taking advantage of unexpected opportunities. - Business & Consumer Financing ~ Loans & Credit Cards For Bad Credit & Good Credit
Business resources - start/expand your business, where you can find business loans , equipment leasese, unsecured credit cards &; secured credit cards, business loans, merchant accounts
Business Credit Help....
Business Credit Cards To Help Your Business Expenses
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magnate wrote...
Great lens with a ton of high quality content and easy to follow.
Posted November 11, 2008
Posted November 06, 2008
amagnate wrote...
Informative and valuable information. If you have a time feel free to drop by in my lens too. Have a great day!
Posted November 06, 2008
nacasi wrote...
This lens is very helpful especially the US is now under credit crunch.
Posted November 04, 2008
Lenny wrote...
Simple, direct to the point, and helpful tips on building credit. Thanks :)
Posted September 14, 2008
