Using Bribes and Threats To Get a Good Credit Account
Yes, you read the title correctly. If you need to add a good credit account to your credit report (and the only way you can raise your credit score is if you have some good credit accounts), you can try using a bribe to get one. And , yes, this is legal to do! The best place to start when trying to add a new credit account is your bank. Go in and ...“SAFETY NET” Credit Scoring Factor
Lenders and credit card companies use your credit score to help determine how likely it is that you will pay back the money they lend you. Fair Isaac Corporation, the creator of FICO credit scores (the most commonly used credit scoring system) has a breakdown of the relationship between your credit score and your chances of being a “Good Player” vs. a “Bad Player” (see chart here). So, your credit score reflects an estimate ...Should You “Opt Out” of New Credit Offers?
Don’t you just love going to your mailbox and finding all those new pre-approved credit card offers waiting for you? Filled with your personal financial information and easily accessible to thieves, it’s no wonder identity theft is so widespread. And having to take all that time shredding those offers before throwing them in the recycle bin. (You ARE shredding them, aren’t you? Thieves know that stealing your mail is a Federal crime, but ...The Anatomy of a Credit Score
Many of you are trying to improve your credit scores before you can, say, buy your home. But there is a lot of confusion and misinformation out there on just how to do that. By not understanding what credit scores are based on, you can hurt your scores by doing the wrong things. For example, how many of you have been told that you should close your old inactive credit accounts to improve ...Credit Scoring with Your Credit Card: Magic Number is Still “30”
In order to score maximum points towards your credit score, you should always keep your credit card balances below 30% of the credit limit. And one thing many credit users don’t stop to consider is: you don’t know which day of the month your credit card company reports to the credit bureaus. So you may be paying off your bill in full each month when the statement comes, but if you are charging up the ...Credit Cards – Secrets to Increase Your Credit Score
If you have never received mail pre-approving you for a new credit card, you are in the minority. Most consumers have at least one credit card, and the statistics show that credit card debt is sharply on the rise. If you are deep in debt and are struggling to pay off your bills, you must come up with a financial plan and understand the fundamentals behind how the debt accrues. Understanding how ...Latest Articles
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