Credit
How to Read and Understand your Credit Report
image
Understand your Credit Report

Tuesday 24, 2017

Your credit report is a crucial document that can have a significant impact on both your life and your lifestyle. It is through this report that anyone will ascertain whether you have good or bad credit. This will determine whether you can receive a loan, credit card or even a mortgage.
The best way to understand what is happening on your credit report is to review it periodically. While you are doing so, you need to be able to understand exactly what is revealed within it, and where you can get certain information. Your report may be overwhelming because it holds a considerable amount of information, and then can become very challenging to navigate. Here, you will discover how you should read through and then understand you report.
You need to begin by understanding that there are three major credit reporting agencies you will find in the United States. For the most part, they all follow the same format for your credit report. These agencies are Equifax, Experian and TransUnion.

Read More
How to Raise Your Credit Scores
image
Credit Scores

Tuesday 24, 2017

If you have recently applied for a loan and your application was turned down, the main reason for this could be because your credit score is very low. A lot of people have made poor financial decisions in the past that reflect on their credit scores. If you are planning to buy a home or a car, or you want to apply for a new credit card, you need to be absolutely sure that you have a good credit score. If not, your application may be turned down or you might get credit at higher interest charges. To avoid all this, it is good to know how you can raise your credit score.

Read More
How To Get Your Free Credit Reports:
image
Free Credit Reports

Tuesday 24, 2017

Before considering how you should get your free credit reports, it is also fundamentally important to know why you need to do so in the first place. As much as credit card bureaus execute their mandate swiftly and efficiently, they also make errors that can cost huge financial setbacks.

Keeping up with your reports will also help in ensuring that there is no additional information or unauthorized activity in your report. Itmay be hard to notice any unusual activity until you come across your report showing a strange account, anunauthorized transaction or in some cases, identity theft which is not strange with card holders.

Read More
How to Deal with Collection Agencies
image
Collection Agencies

Tuesday 24, 2017

First off, it is well understood that no one ever wants to be facing a situation where they are communicating with a collection agency. At this point, one may feel as though they are beyond hope, and that this is the end of their financial standing. This is because collection agencies will call you several times in a day, as well as leave messages where they are demanding for their payment to be completed, for the bills that they are following up on.However, it is possible to deal with them in an excellent way so that the effect on your credit report is minimal. Here are some tips that will help you:

Read More
How Can an Auto Loan Improve your Credit Score?
image
Auto Loan Improve

Tuesday 24, 2017

When looking at getting an auto loan to improve your credit score, the response will be all about perspective. There are some who believe that if you have good credit, there is no reason for you to get an auto loan. If, however, you are looking to build up your credit record over time, then you can get a car loan as this will show evidence of proper payments. The key to making an auto loan work for your credit score is to make sure that you avoid making mistakes, no matter how small these mistakes may be.

When you do this, then your credit score rating which may have started out low will have the chance of going up. When you are looking at building your credit score, getting a credit card to help you do so may be close to impossible. However, you can go to a car dealership and get them to offer you a car at terms that you both agree on. Often, this means that you may end up paying an interest that is higher than normal, however, the long term effect on your credit report will be well worth it. It also helps that those who are administering auto loans are able to use the cars themselves as security, meaning that the overall risk is lowered. This helps when it comes to avoiding default payments as you can sell the asset to repay the loan.

Read More