Archive for: February 2013

Improve Credit Score Effectively

Here are 5 things you can do to improve your credit score.

Checking Accounts – If you are paying cash money for everything that you purchase your credit score might be at its lowest point. You will need to boost your credit score before lenders will provide you financing. Underneath are the most important steps to improve credit score. Opening any bank account is a sure way to show the bank that you are credit worthy and can really help you establish a loan. Loan providers will likely have second thoughts in granting the loan application if you do not have a checking account. The financial institution accounts may not be noted on the credit report nevertheless they serve their purpose when you apply for a loan. In addition to that, opening a bank account could help you boost your credit score, just make sure you have manage your account well.

improve credit score

Improve Credit Score

Secured Credit Card – When your credit scores are low a secured card is actually a great way to raise those scores. You only need to deposit some cash to get started, which is used as collateral. As you use the said credit card wisely, paying on time every time. Being economically responsible is a good way to improve credit score. The reporting agencies will monitor your financial activity and report you as financially responsible. In just a year or less you should be determined as qualified for an unsecured charge card.

Become an Authorized User – Become an added user to improve credit scores. You may be listed as an authorized user on someone else’s credit account. You can enhance credit scores for being an authorized individual even without using the card from the primary charge card holder. You are able to still improve credit score as long as the account is reported to the bureaus as on time.

Personal Loan – The fourth way to improve your credit score is through a personal loan application. Improving one’s credit score can be done through exhibiting how financially trustworthy you are. Once you’ve proven your financial balance to the finance institutions and lending institutions, they could then allow you a personal unsecured loan that will help you improve credit score. When you get the loan, use it to buy an item that can be paid in installments for at least 12 months. Yet this can only be effective should you pay pay your balances promptly on-time.

Find a Co-Signer – Searching for someone within your family or a friends with a good credit ranking and ask them to be your co-signer could also improve credit score. You are also able to benefit from the good credit reputation of the co-signer thus boosts your credit score. Again, timely payments are so important so your credit score will improve fast. Pay extra attention to the details when looking for a co-signer. The records to the shared accounts, both good and bad, can appear on both the co-signer as well as the borrower’s credit reports for 7-10 years.

2013 Ushers in More Reasons to Buy a Home

Rents are rising, time to buy a home?

Nationwide, average rent was $1,048 at the end of 2012, up nearly 4 percent over one year earlier. Also, the rent to mortgage ratio was nearly 108 in the same time period. Anything over 100 means a mortgage payment is cheaper than rent for the median homeowner. Analysts expect rents to rise 4 to 4.5 percent per year through 2016.

Indeed, renters spent over 24 percent of their disposable income on obligations like rent, car loans and other debt, compared with just 14 percent for the average homeowner.

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How Do You Know If Your Identity Has Been Stolen?

Identity theft was likely the number one complaint to the Federal Trade Commission in 2012. I can state that with some conviction because identity theft has been the number one complaint to the FTC for the prior 11 years. The question most of us wrestle with is this…how do I know my identity has been stolen?

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Credit Repair Tips To Help Boost Your Score

It’s a well-known fact that having healthy credit is essential to your overall financial health. Not only does the almighty credit report determine whether or not you’ll get a loan or credit (and at what rate), it may also influence employment, insurance, and the ability to rent; among other factors. If your credit isn’t in the best shape, here are some credit repair tips to help improve your scores.

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