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Credit

Why are there so many different Credit Scores?

Do you know what your credit score really means?  Do you know why there is not 1 credit reporting agency but several? Do you know the things that can increase and decrease your score?  If you said no to any or all of these questions you’re not alone.  Few people actually know what their credit report means, why it’s been set up the way it has and all the other myriad things about it.  It’s with this fact in mind that we put together a little Blog to explain why.  Enjoy!

First, why are there so many scores?  Did you know that the average American citizen has about 35 different scores that are used for a wide variety of different credit situations? …

The Benefits of Credit Repair

When it comes to personal finances, many people felt the heat and took a hit during the recent recession, stock market downturn, and housing bubble and blowout of 2009 and 2010. Unfortunately, for many people, their credit still to this day has not recovered, and they find it tough getting a job, making a purchase, or doing one of any of the other different things that you must have good credit to do easily.

But it doesn’t have to be like that! Credit repair is not only possible, with the right professionals by your side, it’s easy and straightforward! There are many benefits to credit repair, but let’s touch on just a few of them, as things you can experience when you work with credit repair companies in order to make everything satisfactory on your credit report again.…

Credit Tips to Help You Start the New Year on the Right Foot

With the New Year just around the corner it’s a great time to start thinking about what to do in 2013 to get your credit on the right track and keep it there. The Tips below will help you do just that so have a seat, grab some coffee and let’s get started.

First you need to see where you are, credit wise, so that you know where you want to go in the next 12 months. Your credit report, in fact all 3 from the Big 3, will serve as your guide for this so, as soon as the Holidays end, get copies from them and review them thoroughly.…

How to Negotiate Credit Card Payoffs

Running up a huge credit card bill is unfortunately something that tends to happen very quickly and very easily in many cases and can leave the person holding the credit cards in a very tight financial squeeze.  When financial problems occur that cause you to not be able to keep up with the ever increasing credit card bill it may be time to consider negotiating a payoff, and it’s usually better to do this before you damage your credit too badly.

Before we look at how to do that, keep in mind that you can certainly do this even if you’re not in dire straits but the major credit reporting agencies will look at every negotiated payoff as a settlement which in fact can still damage your credit.…

The Consequences of Defaulting on Credit Cards

In physics every action has an equal and opposite reaction.  When we’re talking about credit cards it very similar although the reaction is usually financial in nature. Pay off your cards on time all the time and your credit history will be excellent, but pay late (or very late) and the financial consequences will be quick and sometimes harsh.

Credit card companies will start charging you a late fee on the very first day that your bill is late, usually to the tune of about $35.00. They will also immediately start charging more interest on the past due amount and will typically begin charging you a higher interest rate that will stick with you for 6 to 12 months, even if you only pay late once and never again.…