Tag: credit score

5 Characteristics of People with an Excellent Credit Score

 

 

 

credit score

 

Are you one of those people with stellar credit? If so, that’s wonderful! If you’re like a lot of people, though, your credit is a work in progress and you’re always trying to keep your finances solid. So, what is different about those people who have excellent credit?

 

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Your Credit Score Affects Your Love Life

A few years ago, credit scores were taboo. The idea that a credit score could be used for more than just determining qualification for a loan was at best unfair and at worst discriminatory. Employers in some circumstances can use credit scores or credit reports to determine whether to offer jobs to applicants. If you sign a credit authorization form, which some employers might imply or outright say is necessary to be considered, the company can use your credit against you.

Auto insurance companies can use credit scores to set your rate because they’ve found that there is a correlation between higher scores and safe driving. If you intend on renting an apartment, the landlord can choose to perform a background check, and credit history could be included.

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Do Credit Repair Services Really Work?

You’ve seen the ads claiming to be able to fix your bad credit, but do credit repair services really work? Honestly, many of the companies are a scam. But the credit repair services that have been around for a couple decades know the rules surrounding credit repair and know how to navigate those rules to either raise your credit score or give you your money back. That of course doesn’t mean that it works for everyone. There is no magical formula to raise your credit score in a hurry, but there are a few instances where credit repair can help you give your score a deserved bump.

 

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How to Raise Your Credit Score Fast

What’s a Credit Score?

In this post I’ll tell you how to raise your credit score fast. Credit scores—they’re like report cards for grown-ups. It’s a three-digit “grade” you get on a scale that ranges from 300 to 850. Your score indicates your creditworthiness to potential lenders, banks, landlords, insurance companies, and even to some employers, for instance. I’m sure you know that the higher your score the better.

 

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How Credit Scores Affect the Price of Credit and Insurance

Ever wonder how a lender decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages. These days, other types of businesses — including auto and homeowners insurance companies and phone companies — are using credit scores to decide whether to issue you a policy or provide you with a service and on what terms. A higher credit score is taken to mean you are less of a risk, which, in turn, means you are more likely to get credit or insurance — or pay less for it.

 

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5 seemingly harmless things that can hurt your credit

“Mom,” my daughter said as she stood by my desk recently waiting for one of her homework assignments to print from my computer, “Did you pay this bill? It was due Oct. 4.”

She asked me this on Oct. 14. And no, I hadn’t paid it.

The bill she was talking about was a “toll by plate” bill for $7.50. In some parts of Florida tollbooths have disappeared and drivers either pay using a Sunpass or get a bill like I did when a picture of their license plate is captured on one of these roads.

 

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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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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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What Is Rapid Rescoring Service for Credit Score Adjustments

If you haven’t applied for a mortgage in the past six years and have a low credit score, you may need a rapid rescoring service. Back in the mid-2000s, people with credit scores as low as 580 could qualify for a mortgage – but things have since changed. If you want to qualify for a mortgage loan today, most lenders require at least a minimum credit score of 680. This is not a problem if you have a perfect credit report and a good credit score. If you also have sufficient income and adequate upfront cash, you’ve got your foot in the door.

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Why Utility Companies Don’t Report to Credit Agencies

credit agencies

Every single month I get a bill from Georgia Power, Georgia Natural Gas, Dekalb County Water, Comcast, and AT&T.

And while most of you probably don’t live in Georgia, my guess is you have a similar list of utility obligations that you have to pay every month.

Utilities are a form of credit, meaning some sort of service is provided in advance with the expectation of payment being made at the end of some sort of billing cycle?

If utilities are “credit”, then why aren’t utility accounts commonly reported to the credit reporting agencies?

 

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