Credit Coach - What Can I Do To Improve My Credit Score?

By Cliff Pape

One of the first things you need to do to improve your credit score is to purchase your credit score and read those tips and explanations that are included in your score.

If you don't know what your credit report looks like, it's impossible to begin improving your score. However, once you do get your report, where do you begin improving your credit score?

Certain things in your credit report have a particular percentage that is being reflected in your total score:

35% of your score comes from your payment history.

30% of your score is based upon the amount of debt owed.

15% of your score is based on how long you have had any credit accounts you currently hold.

10% of your score is based on any new lines of credit you have opened.

10% of your score is determined from what type of an account it is; revolving, installment, etc.

Here are some simple tips on how to improve your credit scores as much as possible.

Payment history: Making timely payments every month is a must if you want to improve your credit score. If you have some payments which are not current, getting caught up on these is an important part of repairing your credit.

Keeping your payments current once you catch up will keep your credit score in good shape. While there is no quick fix here, it is important to know that over a period of six months to a year, making timely payments will lead to your score increasing by as much as 50 points.

Debt, available credit and balances: To improve this part of your credit score, you'll need to have some credit available to you already. Keep your balances on any existing lines of credit to 30% or less of the credit limit. The lower you can keep your balances, the better your credit score will be for it.

Length of credit: It's natural to want to close accounts which you don't use. When you close an established account, however, you can actually hurt your credit score. Even if you don't use this account, having a long established line of credit is a very good thing for your credit score. Keep at least one and preferably two long established accounts, whether or not you use them.

New or recent credit: Having new accounts can demonstrate your continued creditworthiness. You may even want to think about opening a new account if it has been more than a year since you have opened one. However, you should not open a new account which you do not need unless you are trying to improve your credit score; and of course, use this account responsibly (if at all).

Type of credit accounts: The best thing for your credit score is to have both revolving accounts and installment loans which are in good standing. Having a few credit cards which have low balances and installment loans such as car loans or mortgages which are kept current will help to improve your credit score.

About the Author:

Home Buddies is a real estate investor credit repair agency. Starting with their free session for site visitors, Home Buddies develops and implements a customized strategy to improve credit and creates a business development strategy to help real estate investors or homeowners overcome problems to financing properties and building their portfolio.

Student Credit Cards Reviews & Guide

By Dennis Durrel

There are several of dangers related with Student Credit Cards. privates who apply for this sort of credit card often find themselves in debt for several years into their existing.

It is difficult to work and attend college at the same time, and many will use these student credit cards to simply live. These should be used for education and necessity only.

It has been discovered that when someone obtains a large amount of debt, it could lead to severe bouts of depression.

In turn, the basic academic performance can be severely hindered. While this is negative in nature, there are other dangers associated with student credit cards as well!

If you obtain a student credit card, you are likely to enlist the financial arrangement with the fairly little interest fee. You should know, however, that these can straight away enlarge to higher price after investing the student credit cards for quite a few of months or more!

These are often referred to as "teaser rates" to take you to join register If you expend lots of on your credit card and are not capable to pay for the minimum monthly necessity you are probable to buy the relatively great price plus obtain told to credit agencies by the firm that supplied the student credit cards. Before registering for one of these, be certain to study the several hazards!

About the Author:

About Author: Studentcreditcard-s.com. Student credit cards are very appealing to college students. However, there are many dangers associated with these types of cards. Check out this informative guide to learn a few of the dangers.

Can Bad Credit Personal Loans Help Your Finances?

By Tyson Dangerfield

Do you need a loan? Do you know what your credit looks like? Do you even know how to fix it or what got you here in the first place? If you are like many people you are shocked when you apply for a loan and get rejected, only to find out that your financial world is in true shambles.

So do not go ballistic and just settle down and asses your situation. Let us look at a few things we can do to improve our credit so that we do not need to get a bad credit personal loan with high interest rates and short pay back times. Remember that the higher your interest rate is the more you will have to pay over the course of the loan which stops you from paying a lot to your other debts.

To begin to fix your bad credit you first have to figure out where you are really at. Id your financial house in order? If not do a personal audit. Get all your bank and credit card statements. Then go and get a credit report.

Credit reports contain all of your credit history. They tell the good and the bad of everything that you have done financially. Ignoring the messages from your credit history will only worsen your situation.

Now look at the report and search for any discrepancies. Hopefully you can find some major errors and fix them with some phone calls. But the reality is that most people with bad credit scores earned them. Even if it was not by choice it does not matter we need to fix it.

If you don't have errors figure out what debts you can rapidly pay off. Ideally you pay off the higher interest rate debts first and then focus on the easier debts that don't hurt your score as much.

Now call the credit card companies that you still have debt with and see if you can get a better rate. Surprisingly enough this works more often then you might think. This will help you to avoid a bad credit personal loan.

Now that you have done everything you can it is time to apply for the loan once again. Hopefully you do not need a bad credit personal loan but instead can get a regular low interest rate loan. To avoid this in the future make sure and pay your debts on time and pay attention to your credit score.

About the Author:

Tyson knows a lot about personal loans for bad credit and bad credit unsecured personal loan.

How To Get Your FICO Score Up

By James Gangrut

Having a clean credit report in this real estate market is important. Now that the credit market has gotten tight, your FICO score may be more important than ever. In this article, we're going to examine how you can raise your credit score quickly and easily.

Few people know that charge offs can be taken off from a credit report. Charge offs can have a truly negative effect on a credit score. You don't want them on your . If you presently happen to have them, there are still ways of removing them. This will improve your credit and will lower your payments and interest rates on loans and mortgages.

Beginning the process of charge off removal starts with getting a copy of your credit report. You have the right to 1 copy of your credit report per year. This allows you to see what your credit report says.

It's not rare to get a mistake on your credit report. When you see a mistake, write a letter to the credit agency. Don't try to save time and send an email, compose a real letter. You know, with ink and a stamp. let's hope you don't get a call from the credit bureau, because if you don't, the charge gets dropped from your report. This comes down to an increase in your FICO score

It's these small things that matter most in the process of increasing your credit score. Just a small difference in interest rates for a mortgage can save you thousands and thousands of dollars over a couple of years. So be precise when doing your research.

The majority of the population never look over their reports. People assume that there are no errors in their reports. The truth is that there are many mistakes being made every day. You can get the mistakes off your credit report and increase your score. You just need to do is your research and write a letter to credit bureaus. You can save thousands and thousands of dollars just by taking action.

About the Author:

James writes articles about improving credit scores. He also writes about lenen student and lening student.

Insiders Guide To Deleting Bad Credit

By John Cooper

It is not uncommon for life to throw us a curve ball sometimes. Such as a sickness in the family, getting laid off from a job, or simply not being able to make ends meet.

This often results in falling behind on bills, and that will cause creditors to create negative marks on your credit report. There is a lot of information that says these negative marks must remain on your credit for seven long years.

This is not true. The truth is bad credit items can be removed and are removed every day.

To erase negative credit from your report you should dispute each item with the credit bureaus. This is done be writing a dispute letter in which you give a reason as to why the item is wrong such as; not my account, account paid in full, item is out of date, information is wrong, etc.

Once received the bureaus will conduct an investigation. They will contact the creditor and ask them to verify the account, the dates on the debt, and the total on the debt.

If it's not verified then it must be deleted from your credit report. This is according to the Fair Credit Reporting Act.

This is the law that is referred to when people claim an item must remain on your credit report for seven years. This act plainly says an item can remain on your report for a maximum of seven years, it does not say anything about the minimum amount of time a mark must stay.

This incorrect information is causing many to feel hopeless and frustrated paying the high cost of bad credit. However you dont just have to live with it, you can delete each and every bad credit item on your report.

The truth is every item can be erased.

You can write a dispute letter yourself or you can hire a service to dispute negative credit on your behalf. Disputing negative credit is legal and you will never face any monetary fines, jail time, or arrest.

The bureaus have financed a large campaign to get false beliefs across to consumers. This is because the bureaus are a business and it costs them potential profits every time they investigate a dispute.

If you dispute your credit yourself be prepared for the bureaus stall tactics. Frequently they will respond to a dispute letter by requesting more information.

This isn't because they need the information but it is used as a stall tactic. This is often when individuals give up on repairing their credit and decide to just live with a low score.

Don't just live with the high cost of bad credit. You can dispute and erase any mark from your credit. This will help to provide you and your family with the quality of life that you deserve.

About the Author:

For a free credit consultation call 1-866-246-7311. Visit us for a free credit dispute letter used to remove a charge off and other bad credit or debt collectors such as Midland Credit.

Can Virtual Credit Card Numbers Save Your Credit?

By Kermil J. Fogarth

I just received my the credit card bill for a credit card I haven't even activated since receiving it several months ago. It appears I have signed up for some monthly MLM deal as well as purchasing a train ticket in Washington DC. Oh, and I also bought something from hotwire.com. Now, as I say, the card has been in my wallet since I received it seven months ago and still has the little sticker on it telling me to call and activate it from my home phone. The charges only started in November. Could this have been prevented?

The latest trend is toward disposable credit card numbers but that probably couldn't have prevented those bogus charges on my card as the thief was using my name and the true credit card number. For online shopping protection the use of virtual card numbers may be helpful. Hopefully they won't lead to a false sense of security fostered by one-time use of a virtual number. Use of a virtual number wouldn't have prevented the thief from getting the real information as happened to me.

This can be compared to the use of a disposable camera to prevent loss or damage to your expensive camera while you are traveling. A virtual credit card number can be used to prevent loss when making online purchases. In this case, the virtual credit card number is invalid after one use.

Since credit card fraud is so widespread we aren't surprised when it happens and the card companies are looking for ways to cut their losses. This must be done without inconveniencing the ability of their customers t make purchases either in person or online while protecting vital information. They are hoping that virtual card numbers will be the solution.

While virtual cards are used to purchase online in the same manner regular cards are, they are temporary numbers. These numbers are issued as a short term replacement of you true card number for purchases. Your personal information is not transmitted to the vendor and often they are single use numbers and a new number must be generated for subsequent transactions. There are other cases where a virtual number can be used for multiple purchases over a limited time period before it cancels.

Protecting the real number from felonious use is the objective with virtual numbers. Should a computer hacker gain access to credit card data from a secure processing center, your account number would be protected. When they attempted to use your virtual number they would be denied credit.

The expectation is that your card number is safe and secure on some sites during the payment process. There is always the possibility that someone working for the online merchant will sell the information to criminals. This as well would be a criminal act but some people are willing to do anything if the price is high enough and there is no easy way to trace it back to them.

Virtual credit card numbers protect your valuable information during online purchases. If a virtual number is stolen it is worthless or becomes worthless in a very short period. When making several purchases with your credit card a month you may realize a real benefit from using a virtual card number for protection and security.

About the Author:

Kermil J. Fogarth has extensive finance information available at his website. For more tips on protecting your credit.

Is Diversification the Way to Go?

By Jan Shimano

I am not a financial adviser but I did have investments that I saw vanishing before my very eyes, and it concerned me greatly. As a person with very little investment experience, I felt the need to search for satisfactory answers.

It's my belief that when you are highly motivated to find an answer to a question, that answer invariably appears, and so it was with my search. Someone referred me to a book by Robert Kiyosaki called Rich Dad's Prophecy. I had read Rich Dad Poor Dad and found it informative, but that was the only Robert Kiyosaki book I had ever read. I immediately ordered a copy of Rich Dad's Prophecy and what I read in that book was a huge eye opener for me.

The cyclical nature of the market is well known. We expect it to go up, down and sideways. However, if we were to graph it out over many years, we would normally see an upward motion, with periodic small dips. These days it's quite a different picture. The graph is headed down on a very steep curve.

A major part of the problem is that by the year 2016, the first of the 75 million baby boomers in the U.S. will be turning 70. A large percentage of these people have money stashed away in a 401k plan. When these baby boomers reach age 70 1/2, they will be obligated under law to remove all their money out of their 401k plan. They are going to have to liquidate their assets. Just think about that for a moment!

In the not too distant future, millions of people will be selling off the mutual funds and shares they have in their 401k because the Government has told them they have to. The Government has been waiting patiently to receive their tax dollars and now their day will have come. This is a major disaster waiting to happen. Undoubtedly, there will not be enough purchasers to offset the massive selloff during this period of time. It is possible that the U.S. Government could amend the law, allowing assets to stay in the 401k for a longer period of time, but then they would be delaying receiving their tax dollars.

Most people already know that they are in deep financial trouble, but they don't realize the full impact. They are still being told that as long as they diversify, they will be fine. They are being told to sit tight and ride out the storm! I believe we are wise to listen to Warren Buffet when he states.... "Diversification is a protection against ignorance. It makes very little sense for those that know what they are doing".

We still have a few years before 2016 is upon us, so there is still time to get a firm handle on your finances and make some intelligent decisions. Educate yourself on financial matters and take action now to accumulate additional funds to see you through to your retirement and beyond. The experts tell us that having a home-based business is the best way to do this. The prediction is that there are going to be millions of new millionaires created during the next 10 years. You can be one of them...there are many great opportunities out there....find the one that resonates with you and run with it.

About the Author:

Jan Shimano was District Manager for Health & Welfare Canada for a number of years. She was also self-employed as a Nutritional Consultant. She is currently a Business and Health Coach and runs her own internet marketing company from her home on Vancouver Island. Jan also invites you to visit her on YouTube at www.youtube.com/1jinny

Negotiate Debt Settlement to Help Relieve Financial Woes

By Daniel Atolben

Are you deep in debt and looking for a way out? Are you living paycheck to paycheck, paying bills late and barely scraping by? Managing your personal finances can be tough and there are many people in your same situation. There are some things you can do to help relieve your financial stress.

First off, you should try to repay your debts as you have agreed to. Work out a budget, limit your spending and as you pay off your credit cards, don't spend on them. If you've maintained good credit then see if you can ask for a lower interest rate or transfer your balance to another credit card that has a lower interest rate. Some may offer you a limited time at a low or zero interest which may be what you need to get ahead of your payments.

Look at ways to increase your income. Think about taking up a temporary job to supplement your income. Consider downsizing your lifestyle so you can have more spending money. If you're making payments on your car, then think about selling it and buy a used, dependable one. Think about getting a roommate or moving to a smaller apartment. If you can generate just a few hundred dollars a month then you can bring down your debt in no time.

Getting a debt consolidation loan is an option that is attractive even if you're not in financial peril. This type of loan will pay off your other debts, offer you a lower average interest rate and give you one monthly bill. A debt or credit consolidation loan can be fairly easy to get if you have equity in your home and have a decent credit history.

Another, less desirable option is debt negotiation. With debt negotiation, you or a third party negotiates with your lenders for a lower interest rate, extended payments, and/or lower monthly payments. By doing this, you can afford your monthly bills and you'll have fewer worries. This comes at a price, however. Your credit cards will be frozen until your debt is clear and your credit report will be adversely affected.

There are debt negotiation services available to help you. They usually charge you a monthly service fee but they can help you get your debt under control. They advertise in the phonebook and on the internet. Be wary of ones that sound too good to be true. No one can just erase debt with no repayment unless it's through bankruptcy.

If you don't know the best option for your financial situation then get help from a credit counseling service in your area. They are usually non-profit or not-for-profit so their fees are nominal and they offer you a free consultation. Not only will they help negotiate debt settlement but they can also help you plan out a budget. You can soon be on your way to relieving debt and ending your financial burdens.

About the Author:

Daniel Atolben publishes almost entirely for http://www.debtania.com , a web publication with information about how to negotiate debt settlement with creditors . You can have a look at his contributions on negotiating settlements with creditors over at http://www.debtania.com .

Nine Issues to Consider When Selecting a Financial Planner

By Hank Brock

First, is the financial planner experienced? Years of education will do little if your advisor doesn't have the applied experience necessary. You should ask them about the breadth of the problems that they have solved, their existing clients, and their depth of experience. You may not consider your questions to be complicated, but you are likely unaware of the myriad of strategies the advisor could pursue in your behalf. It often takes years of apprenticeship for the planner to be prepared to approach the issues that you may face. This can be especially true in the areas of estate and tax planning. There are many novices out there presenting seminars with only a basic understanding of the principals they are teaching.

Second, what credentials does you consultant hold? You should be looking for legitimate and recognized credentials. Common credentials include: ChFC, CFP, CPA, CLU, JD, or other genuine designations. An advisor with only a CSA (Certified Senior Advisor) designation should be avoided. Designations such as this only require a quickie course and minimal knowledge of real financial principles.

Third, is the planner committed to high ethical standards? The advisor should hold membership in at least one industry association (Society of FSP, NAIFA, etc.). Most of these associations require adherence to a code of ethics. Of higher concern are planners that use their affiliations to bypass the establishment of trust.

Fourth, is there a commitment to continuing education? Complex laws are ever-changing and the economy never holds still. How many hours are spent each year keeping skills sharp? Are the continuing education hours at a beginning, intermediate, or advanced level?

Fifth, does the advisor handle the services you need? Consider whether you need comprehensive financial planning, tax planning, or investment advice. Will you need help with securities, or simply need someone to give tax advice? Is the planner simply an insurance salesman? Find the consultant that specializes in the services that you need.

Sixth, is your advisor a solo-practitioner? Or is your advisor part of a team that he can turn to for strategizing on complex issues? Or to bring an additional perspective? Is his firm large enough to provide the extensive resources as a large firm of pros?

Seventh, what is the advisor's average client like? Do you fall into the range of his typical client, and if not, will you receive the attention that you need? Would someone else at the firm give you better attention? What is the general demographic that the advisor primarily works with (seniors, pre-retirees, young couples, etc.)? You want to make sure that your unique needs will be met.

Eighth, how is the consultant compensated? The three most common planning types include: fee-only, fee-based, and commission only.

Finally, is your advisor a professional? Be wary of persons who are merely part-timers working out of the trunk of their car, lack membership in professional societies, omit commitment to continuing professional education, and criticize others who do commit to high standards. Often they will downplay the need for education, or boast they "know more about estate planning than most attorney's out there." Smooth salespeople are often very charming, and may even present a charismatic public seminar-but they may also be dangerous because they don't know what they don't know.

About the Author:

Hank Brock is president of Brock and Associates, LLC, a firm specializing in retirement, estate, tax, and business planning. Be sure to check out Hank's article on finding a financial advisor for more extensive information.