Archive for: December 2013

Seven reasons credit applications are rejected

A credit file profile is not the only reason for having credit applications refused. There may be other less obvious causes for a rejection.

Not on the electoral roll

The electoral roll is something to which lenders turn for confirmation that the applicant is who they say they are. Not being registered on it can lead to a refusal for credit.


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Choosing the Right Credit Card for Holiday Shopping

T minus one month until we embark on the busiest shopping season of the year. Many experts predict that we’ll spend more on credit cards in the last two months of the year than we spent on the previous 10. So if you’re going to choose to whip out the plastic this holiday season, here are some tips to keep in mind.


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What Are Ghost Credit Cards?

In an alleged scheme targeting consumers in need of building their credit, scammers are said to have sent letters promoting semi-secured credit cards that would help boost credit scores. The letters asked people to send hundreds of dollars in deposits to either Freedom 1st National Bank or AmTrade International Bank in order to receive their cards.

The cards never came, because those aren’t real banks, according to the U.S. Officer of the Comptroller of the Currency. The OCC charters and regulates all national banks.


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10 Free Ways to Protect Your Identity from Identity Theft

Identity theft, which hits more than 12 million Americans per year — carries a per victim cost of nearly $5,000, according to some reports. So, the need to protect yourself is obvious.

And protection doesn’t have to be costly in terms of money or time.


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Repairing your credit: Go it alone or hire a credit repair company?

Every consumer who uses credit has a credit record — and is it ever powerful.

Every time you apply for credit or a loan, creditors obtain your credit record to verify your worthiness. But, the use of these reports has broadened. Insurance companies have begun to use them to determine premiums or deny coverage. Potential employers may even want to check out your credit worthiness.


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10 Steps to Repair, Rebuild, and Protect Your Credit

Have you had one or more financial misfortunes over the past several years and now have a less than ideal credit score? If so, you’re certainly not alone. Credit scores have been one of the biggest victims of the financial crisis and the recession. Unfortunately, that number can determine not only whether you can get credit and what interest rates you’ll pay but they can also affect your insurance premiums and even your ability to get a job.

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How to Improve a Bad Credit History

Your history tells creditors about behaviors that can add up to a “good” or “bad” credit rating. Here are some questions lenders might ask that may help them understand your credit history:


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9 fast fixes for your credit scores

To improve your credit scores, it’s important to know where you stand now. You can get free credit reports once a year, but you typically have to pay to see your FICO scores. (You can get other credit scores for free at sites like Credit Karma, but these aren’t typically the scores lenders use.)



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