Clean Up Your Credit Score
Are you taking advantage of your credit score?
Are you missing hundreds or even thousands of dollars because you don't understand the game of credit?
If you play the credit game correctly You will win! When you clean up your credit score and reach 720 or better, it means you will pay a lower interest rate on almost everything, such as your home, car, and more, etc.
According to INC magazine did you know that 61% of employers are running a personal credit report rating before they hire a new employee. Banks don't want you to know how to improve your credit rating so that you will have a better score.
Banks are in the business of making money. If you have a lower rating they make more money. That's how simple it is.
A higher credit score means lower interest, period! Banks are looking to keep their profitability margins high. So it behooves you, to get the highest score that you can and be on the winning side of the credit game.
For instance the three credit bureaus Experian, Equifax, and Trans Union make their money from collecting data, and then selling this data to banks.
When the bureaus sell this data if you possess a high credit score they don't make as much money selling your information to credit card companies.
But, if you have a lower credit score, they will make a lot of money by selling your data to the credit card companies.
Bankruptcy, foreclosure these items will remain on your credit report for 10 years, 7 years respectfully. What most people fail to realize is that you don't have to a clean credit report to have a high
credit score.
You can have had a bankruptcy 6 months ago and still have a high credit score. The name of the game is about re-establishing your credit the optimum way.
You have to know the rules of the game. Stop spending thousands
of dollars to the credit repair companies. Your time is best served by doing the simple, but consistent techniques that will get you the higher credit score.
No matter what has happened to you in the past, when you rebuild your credit in the correct way, it will have an immediate impact you finances.
Whether you've had a bankruptcy or foreclosure yesterday, you will see
massive movement in 4, 5, 6, or even 7 months.
Think of all the monies that you will save over the years.
Credit Levels
Watch your credit levels. What I mean here is when you have a credit card and you pay it down to 90 percent of the balance, you will see a little bit of a bump in your credit score.
The levels that you want to focus on are 90,70,50,30, and 10 percent of the credit card balance.
Every time you pay your credit card down and it reaches any of those level you will see a bump in your credit rating.
The credit rule is you want to make sure that your level is always below 30 percent to see the maximum impact.
Building Credit for Your Teens
You don't want to give your teen a credit card to walk around with, but a better way to help build their credit is to put them on your credit card as an authorize user.
When you do this it helps to establish their credit, because they are getting the benefit of your teens credit rating.
You can help then by training in the proper use of merchant cards. For example sending Cynthia out to buy groceries for you.
Give her the credit card that is in her name to buy those groceries with.
Ultimately, when your teen leaves home they will have a 720 plus credit score simply by following the simple rules of the credit.
You will educate you teen have to use credit properly.
Re-establish Yourself After a Short Sale
You can still re-establish your credit even if you are recovering from a short sale. United State Public Research Group survey says that 80 percent of Americans have an error on their credit report.
An error can negatively impact your credit score and cause you to be denied credit. The obvious impact can cause you to pay hundreds or even thousands of dollars because of an error on your report.
The survey also states that 25 percent of the errors are so bad that if you applied for credit today, because of the error you would be denied the loan or even cost you a job opportunity.
Find out how to play the credit game and clean up your credit score at the same time.
Are you missing hundreds or even thousands of dollars because you don't understand the game of credit?
If you play the credit game correctly You will win! When you clean up your credit score and reach 720 or better, it means you will pay a lower interest rate on almost everything, such as your home, car, and more, etc.
According to INC magazine did you know that 61% of employers are running a personal credit report rating before they hire a new employee. Banks don't want you to know how to improve your credit rating so that you will have a better score.
Banks are in the business of making money. If you have a lower rating they make more money. That's how simple it is.
A higher credit score means lower interest, period! Banks are looking to keep their profitability margins high. So it behooves you, to get the highest score that you can and be on the winning side of the credit game.
For instance the three credit bureaus Experian, Equifax, and Trans Union make their money from collecting data, and then selling this data to banks.
When the bureaus sell this data if you possess a high credit score they don't make as much money selling your information to credit card companies.
But, if you have a lower credit score, they will make a lot of money by selling your data to the credit card companies.
Bankruptcy, foreclosure these items will remain on your credit report for 10 years, 7 years respectfully. What most people fail to realize is that you don't have to a clean credit report to have a high
credit score.
You can have had a bankruptcy 6 months ago and still have a high credit score. The name of the game is about re-establishing your credit the optimum way.
You have to know the rules of the game. Stop spending thousands
of dollars to the credit repair companies. Your time is best served by doing the simple, but consistent techniques that will get you the higher credit score.
No matter what has happened to you in the past, when you rebuild your credit in the correct way, it will have an immediate impact you finances.
Whether you've had a bankruptcy or foreclosure yesterday, you will see
massive movement in 4, 5, 6, or even 7 months.
Think of all the monies that you will save over the years.
Credit Levels
Watch your credit levels. What I mean here is when you have a credit card and you pay it down to 90 percent of the balance, you will see a little bit of a bump in your credit score.
The levels that you want to focus on are 90,70,50,30, and 10 percent of the credit card balance.
Every time you pay your credit card down and it reaches any of those level you will see a bump in your credit rating.
The credit rule is you want to make sure that your level is always below 30 percent to see the maximum impact.
Building Credit for Your Teens
You don't want to give your teen a credit card to walk around with, but a better way to help build their credit is to put them on your credit card as an authorize user.
When you do this it helps to establish their credit, because they are getting the benefit of your teens credit rating.
You can help then by training in the proper use of merchant cards. For example sending Cynthia out to buy groceries for you.
Give her the credit card that is in her name to buy those groceries with.
Ultimately, when your teen leaves home they will have a 720 plus credit score simply by following the simple rules of the credit.
You will educate you teen have to use credit properly.
Re-establish Yourself After a Short Sale
You can still re-establish your credit even if you are recovering from a short sale. United State Public Research Group survey says that 80 percent of Americans have an error on their credit report.
An error can negatively impact your credit score and cause you to be denied credit. The obvious impact can cause you to pay hundreds or even thousands of dollars because of an error on your report.
The survey also states that 25 percent of the errors are so bad that if you applied for credit today, because of the error you would be denied the loan or even cost you a job opportunity.
Find out how to play the credit game and clean up your credit score at the same time.
Source...