Thousands of Jobs and the Housing Market

Thousands of Jobs and the Housing Market

It really isn’t “news” to anyone that our economy is struggling in a major way. Only two years ago, the housing market was doing extremely well. Real-estate agents, mortgage brokers, and loan officers were raking in the cash. It an untimely sequence of events, the tide has turned.

Houses on the market had several bidders in 2006. People could still get 100% financing. The prices of homes kept going up and up and up. Looking back, these times were good. The housing market was controlled and stable. Now, everything is out of control and extremely unstable.

The same people who were thriving not long ago are struggling to make ends meet. The epidemic hit without any sort of warning. Everyone, including businesses, is looking for ways to bring in additional income. American Home Mortgage laid off over 7,000 employees, and that was over a year ago. Imagine how desperate things have gotten since then.

The housing market crisis has begun leaking into other industries as well. Financial experts, accountants, office personnel, software engineers, other computer IT people who once worked in the housing industry have been forced to look for other work. This influx of people who have come from the housing market have bombarded the job-search industry.

Have you seen that commercial where this guy is about to play hit a tennis ball and right before he hits it, a woman steps up and smacks it away from him? It then shows more and more people enter the tennis court, all trying to play with 1 single ball. The commercial is for a top-level job search company. However, there remains a lot of underlying meaning. Many people are battling over one job.

The American unemployment rate has gone up. Thousands of people have lost their jobs due to unforeseen circumstances. Nobody really saw this crisis coming. We need to ban together as a country and all work diligently to solve this problem. This isn’t a problem that is just hitting Wall Street or the housing industry. It is beginning to affect us all and we all need to be prepared to work together and get this crisis solved.

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Especially Made for Bad Credit

Especially Made for Bad Credit

If you have bad credit, you know how hard it can be to qualify for credit cards. Is there any way you can re-prove yourself to lenders? Will any lenders give you a second chance? How can you start rebuilding your credit? If you want to start rebuilding your credit, you must work hard. You need to sit down and figure out a budget. Chances are, if you have bad credit, you really didn’t use a budget in the past. Instead, you just kept spending until one day, it was completely out of control.

There are several credit cards now that are designed especially for people with bad credit. These cards were established to help you get on track. Take advantage of this opportunity to start rebuilding your credit and prove that you can be an “A” credit borrower. Here are some of the most popular cards that can help you get back on track.

Total Visa Card
-Receive an instant online application decision
-This card reports your status monthly to all three major credit bureaus
-Take advantage of free 24-hour online management tools
-Rated well for outstanding customer service

Tribute Gold MasterCard Credit Card
-Designed for people with bad credit
-Reports often to all major credit bureaus
-24/7 Free Online Account Access
-Get a quick online decision

Bank Freedom Prepaid MasterCard
-$0 Issuance fee
-$0 Monthly fee with direct deposit
-Low fees
-Save money
-100% Guaranteed Approval
-No credit check
-Note-this is a secured credit card (or debit card)

Orchard Bank Classic MasterCard
-Accepted millions of places
-Use your card online, to make reservations and in stores
-Email and text message reminders
-Online access: 24/7

Applied Bank Secured Visa Credit Card
-9.99% Fixed APR rate
-Your rate will never change, even if you are late
-Choose your credit limit-up to $5,000
-No credit requirements
-No income requirements
-Credit bureau reporting.

Take advantage of the opportunity you have to rebuild your credit with one of these credit cards. These cards were designed especially for people with bad credit and who want to improve their credit score. Show lenders how responsible you are by qualifying for one of these cards and using it responsibly.

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What Your Credit Score Means to You

What Your Credit Score Means to You

Your credit score tells people so much about you. It tells lenders how responsible you are, both in general and financially. Your credit score is calculated directly from your credit report. On your credit report, you’ll find different addresses where you’ve lived, a job history, a history on every credit account you’ve ever opened, payment schedules for each credit account, any information that your lender feels is pertinent, and much more. If you want to have a good credit history and credit score, both things need to mean a lot to you.

We all know those individuals that don’t seem to care about anything. These people are often either flippant or forgetful about due dates, sticking to a budget, etc. These are the people that have bad credit. Sure, there are always those individuals that have had a long streak of bad fortune. Some people have run into financial hardships and can’t seem to dig themselves out, no matter how hard they work. I sincerely feel for these people. I wish that there was something set up to reward these individuals for trying so hard to get back on track. Instead, these hard-working people that can’t seem to get ahead in life can’t get loans, can’t make minimum payments and are generally looked down upon.

Now, back to the flippant people that could care less about anything. These people honestly make me mad. HELLO? Get a job, make your payments and stop depending on other taxpayers to get you out of your current situation. This may sound extremely harsh, but, let’s face it…we all know those people that completely take advantage of everyone else. These people could care less what their credit score is saying about them. Why? Because they know that they can always turn around and collect an unemployment check or some other form of federal aid.

If you take pride in your work ethic, if you take pride in your self, if you take price in your financial decisions, then you are way ahead of the game. You understand what your credit score should mean to you. Take pride in that score and keep watching it go up and up and up. Keep making your payments on time. Keep paying off your balances in full each month. Keep shopping around for the best rates and features, without going overboard and getting too many credit cards or credit accounts. Your credit score should mean the world to you and you should do everything in your power to protect it.

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American Express Cash Back Credit Cards

American Express Cash Back Credit Cards

American Express has been rated the best credit card company in terms of customer satisfaction. If you are looking to get a new cash back credit card, American Express is a safe choice. You’ll get great features and excellent customer service. Take the advice of thousands of customers and get an American Express cash back credit card. Here are just a few of the great cash back credit cards that American Express offers.

TrueEarnings from Costco and American Express
-Earn cash back on gas and a $25 statement credit with your first purchase
-Earn cash back on virtually all of your purchases
-Earn 3% cash back on gasoline purchases, 3% for restaurants, 2% for travel, and 1% everywhere else (including Costco)
-No annual fee with a paid Costco membership
-Dual purpose-American Express card and a Costco membership card
-No limit on the amount of cash you can earn

Clear from American Express
-Absolutely no fees of any kind
-Automatic Rewards
-Every time you earn 2,500 points, you get a $25 American Express gift card
-Flexible Payment options-pay in full or carry a balance
-No annual fee
-0% APR for the first 12 months
-World class Cardmember benefits: purchase protection, extended warranty, return protection
-Express approval

Blue Cash from American Express
-Get up to 5% cash back on everyday purchases
-You can even earn cash back on gas purchases
-No annual fee
-0% APR for 12 months on purchases
-Low balance transfer rates
-Express approval

SimplyCash Business Card from American Express
-Get 5% cash back when you buy office supplies and wireless services
-Get 3% cash back on gas purchases up to $12,000 per year
-Get 1% cash back on all other purchases
-No limits to the cash back you can earn
-0% APR for 12 months
-No annual fee
-Flexible payment options
-Get 3-25% cash back when you shop with FedEx, Delta, Hertz, and more

American Express offers the best customer service to its customers. American Express has been rated the best credit card company according to thousands of customer surveys. If you want great benefits and excellent customer service, get an American Express cash back credit card.

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The Secret Behind Credit Card Offers

The Secret Behind Credit Card Offers

If you are like me, you get at least two credit card offers in the mail every day. I know that I seem to get the same credit card offer over and over and over again. I typically shred these offers as soon as I get them. Why? Because I know the secret behind credit card offers.

Are you ready to know the secret? Are you sure you can handle it? OK, here goes. Don’t accept credit card offers from the credit card company itself. That may sound a little backwards to you. How else are you supposed to get a credit card if you don’t accept the offer from the credit card company? Use a credit card comparison site.

Credit card comparison websites are unaffiliated with any one particular credit card company. This means, you can find all the answers you need without getting biased reviews. These companies are there to give you all the answers you are looking for. Each company provides comparison charts where you can narrow down your search for the perfect credit card. My favorite site actually lets you choose several cards and puts each specification side-by-side. This is so helpful because you can compare everything from interest rates, to late fees, to annual payments, to rewards, etc.

Choosing the right credit card can be a difficult decision. Every card is different, just like every person or family is different. Don’t just accept the first credit card offer that comes your way. By doing this, chances are you are signing up for a card that won’t benefit you as much as another card will. Go to these credit card comparison websites to compare each card. Credit card comparison websites offer unbiased reviews of each card. You can be sure to get all the information you need before accepting your credit card offer. The secret behind credit card offers isn’t too much of a secret. All you have to do is do your homework, by going to a credit card comparison website, before choosing your next credit card.

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3 Steps To Becoming An “A” Credit Borrower

How You Can Be An “A” Credit Borrower in 3 easy steps; read on -

Ever since you were a little kid, you’ve known how good it is to get “A’s.” Maybe your parents rewarded you with an allowance or treats if you brought home all A’s on your report card. Well, you may thing that getting A’s no longer applies to you now that you are all grown up. But, did you know that A’s are probably more important now than when you were in school?

You don’t hear a lot about getting A’s as an adult. You might stop and think, “What could I possible get an A on now? I don’t even take tests or turn in assignments.” Here’s the thing…you are taking tests and turning in assignments whether you realize it or not. We’re talking about getting an A on your credit report and as a credit score.

If you earn an A on your credit report, you can get rewarded very well. The better your credit report is, the more likely you are to qualify for the loans you want. Lenders will give you just about anything you want if you have great credit. If your credit score is above 720, you probably have A credit. You can easily get A credit if you work hard at it. Here’s what you can do to be an “A” credit borrower.

-Make on-time payments. You can boost your credit score simply by making your payments on-time. You’d be surprised how quickly your credit score can improve by paying your bills on time for a few months. If you are on the verge of being an “A” credit borrower, try doing this for several months in a row (you should be doing this anyways!).

-Keep low balances. “A” credit borrowers don’t keep high balances on their credit cards. They have discovered the real way to use credit cards…make purchases with it and pay off the balance every month. This will keep you from getting over your head in debt and will give you great credit in no time.

-Keep it simple. You don’t need to have a mortgage, a car loan, and 20 credit card accounts to get good credit. In fact, financial professionals recommend that you keep your credit card accounts to a minimum. This means, it is fine to have a few credit cards, but don’t go overboard. Have a good variety of credit types, but keep it simple.

It is so simple to become an “A” credit borrower. As an “A” credit borrower, you’ll be able to get the best loans and the best rates out there. Lenders will trust you with their money because you’ve proven yourself to be a responsible adult who understands money management. Follow these simple tips to become an “A” credit borrower and see how much financial freedom you’ll gain.

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How Discover is Reaching Out to Help Students

We’ve heard a lot lately about how major credit card companies are reaching out to students. Some companies are doing more than others. Discover is one of the companies that is helping students build their credit in a major way. Discover’s student credit cards are some of the most popular cards out there today.

Discover offers some of the best student credit cards. It’s programs are excellent and help students build their credit while also establishing good credit card habits. Discover has really turned the stigma about students and credit cards around. People, especially students, have begun to understand why getting a student credit card is so important. Student credit cards are one of the best ways to establish good credit early on.

Here are some of Discover’s most popular student credit cards.

Discover Student Card-Tropical Beach
-A great way to build your credit history
-No minimum income requirement
-No cosigner required
-Online account management tools that are free and easy to use
-0% APR for the first 6 months
-No Annual fee

Discover Student Card
-A great way to build your credit
-0% APR on purchases for the first 6 months
-No income requirement or cosigner
-No Annual fee
-Online account management tools

Discover Student Card-Monogram Collection
-Earn up to a 5% cash back bonus
-More earning potential than any other card
-Unlimited cash rewards, automatically
-Earn up to 20% cash back when you shop online
-Earn double rewards with you shop with over 80 Cashback Bonus Partners

Cash back credit cards or reward credit cards are a great way for students to earn cash back (or rewards) while building their credit. Discover offers some of the best student credits and some of the best cash back credit cards. Don’t wait to start building your credit until after you have already graduated. Enjoy the benefits of a Discover student credit card and you can get valuable rewards while you build your credit.

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6 Of The Best Credit Repair Services

If your credit is seriously struggling, you may want to consider using a credit repair service. These companies can help you save hundreds of dollars in the process of repairing your credit. Millions of people have been able to raise their credit score by repairing their credit report. If you want to qualify for better loans and get the best rates out there, you probably need to fix your credit. Using a credit repair service is the best way to fix your credit quickly and save you hundreds of dollars every month, and as always practice good money management skills.

You need to be careful though. Some agencies are a complete scam. Rather than helping you rebuild your credit, they take your money and run. Don’t let this happen to you. Take the time to research the credit repair agencies that you are considering. Depending on which agency you choose, you can have great credit in no time.

Lexington Law
Lexington Law is the largest credit repair agency. Although they charge a higher service fee, you’ll get stunning results and can be certain that your credit will be repaired the right way. They are also industry leaders and have the most experience in the credit repair field.

Sky Blue Credit Repair Services
Sky Blue has been in operation since 1989. Each representative works with you on an individual basis so you can be sure that your credit will get the attention it deserves. They specialize in credit bureau disputes, debt validation, and comprehensive debt counseling. No matter where you are in the country, Sky Blue can help you repair your credit.

dsiSolutions
dsiSolutions offers reasonable prices and great customer service. Customers have been satisfied with their services for many years.

Apex Credit Services, LLC
Apex is known for being extremely honest and fair. Their representatives are extremely knowledgeable and know the in’s and out’s of credit law. One customer reported that Apex helped them increase their credit score 130 points in just 90 days. Now, that’s what I call results.

Veracity Credit Repair
Veracity has some of the lowest prices in the industry. If you want to see great results without having to pay a fortune, try Veracity Credit Repair.

Ovation Credit
Ovation Credit is very similar to Lexington Law. They specialize in ala carte credit services. This means they can help you if you just have one or two things on your credit you need to fix. You won’t have to buy an entire package that you don’t really need.

If you want to really make a difference in your credit score, try using a credit repair service. They know credit law frontwards and backwards. They can help you improve your score in a fraction of the time it would take you to do it yourself. Take the time to research each company and see which one is going to offer you the most benefits. Get serious about fixing your credit once and for all. Use a credit repair service to make it happen quickly.

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The Perfect Cash Back Credit To Fit Your Style

The Perfect Cash Back Credit To Fit Your Style

There is an unlimited array of cash back cards to choose from. Cash back credit cards range from low interest to high interest and from minimal cash back to a substantial amount of cash back. If you pay off your balances at the end of the month, you might benefit the most from a high interest cash back credit card. Here’s why: It doesn’t matter that the interest rate is so high; since you pay off your balance every month, you’ll never get caught making those interest payments. Plus, the high interest rate cash back credit cards tend to give you a larger percentage cash back.

Say you don’t pay off your credit card balance every month. Instead, you carry each balance from month to month, only making minimum payments. Don’t sweat. There are cash back credit cards that are perfect for you too. You’ll want to choose a cash back credit card that has a lower interest rate. Because you don’t pay off your balance every month and end up paying interest on your balance, you’ll want to keep your interest payment as low as possible. The best way to do this is to get a cash back credit card that has a low rate. With the low rate however, you’ll probably earn a smaller percentage back. But, here’s the good news. You will probably earn enough cash back to have those interest payments paid for. You may even make a little bit more cash back to go to the movies or out to eat with.

Whatever your style, there is a cash back credit card for you. Each credit card offers different features and has different fees. Take a close look at what your spending style is and get the cash back credit card that works the best for you. Here are a few great cards to choose from:

Chase Free Cash Rewards
- Earn 1% cash back for every dollar you spend
- Earn up to 10% cash back at select retailers
- 0% fixed APR for the first 12 months
- No annual fee
- Get 1,000 Bonus Points after you make your first purchase
- For every 2,500 points you earn, choose between a $25 check or a $25 gift card

Clear from American Express
- Get 1% cash back on all eligible purchases
- For every 2,500 points you earn, you’ll get a $25 check
- Get a free credit report with your credit score every 12 months-
- 0% APR for the first 12 months
- No fees of any kind (annual, late, over-limit, cash advance or balance fees)

Discover Motiva
- Get .25% cash back on your first $1500 you spend each year
- Earn .50% cash back on annual purchases between $1500 and $3000
- Earn 1% cash back on any purchases over $3000
- Get additional rewards every time you pay your bills on time (2 times per year)

True Earnings Card from Costco and American Express
- Get 3% back on all gasoline purchases
- Get 3% back on purchases at restaurants
- Get 2% back on travel purchases
- Earn 1% cash back on all other purchases (including purchases made at Costco)
- It is an American Express credit card and a Costco membership card in one
- 0% APR for the first 3 months
- No annual fee with a paid Costco membership

These are just a few popular cash back credit cards. As you can see from these few examples, there is a card for everyone and for every style. Get more from your credit card…get cash back. Get a cash back credit card that is going to reward you for your spending style.

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The Truth About How Credit Scores Really Work

I get asked the question all the time; How Do Credit Scores Really Work? Here is an attempt to give you a little idea into this world. I hope it helps.

Nobody really knows the exact formula that is used to calculate credit scores. OK, some people must know, but it certainly isn’t public knowledge. The formula is derived from a supercomputer that uses mounds of data. Basically, when a lender pulls your credit, your credit report generates information that is put into the “secret” formula and your credit score is determined.

The three credit bureaus each use a different method for determining your credit score. Each method is similar but not exactly the same. All of the formulas are derived from the Fair Issac Corporation formula. If you want to check your credit score, don’t just check one bureau. Each bureau contains different information, so you need to check your report and credit score with each one.

FICO has released this breakdown of what factors affect your credit score.

On-time payments-35%
Lenders look to see how often you make on-time payments. If you want a good credit score, there is no excuse for ever making late payments. You have a better chance qualifying for the loans you want and getting the rates you want if lenders can see that you have a good history of making on-time payments.

Capacity used-30%
Your capacity used is the same as your debt to income ratio. Lenders check this to make sure you don’t have so much debt that you will never be able to pay all of it off. You should try to keep your debt capacity used under 30 percent of your income. This will give lenders an accurate representation of how well you manage your income.

Length of credit history-15%
Someone without any credit isn’t going to be approved for a $1 million dollar home, nor should they be. The longer your credit report is, the better your score will be. For instance, my husband has excellent credit. He has a good variety of credit lines, has never made a late payment, etc. His score is around 720. The only reason why it isn’t at 800 is because he has only had credit for about 8-10 years. The longer he has credit, the higher his score will get.

Types of credit used-10%
You want to make sure you have a good variety of credit lines. You don’t want the only thing on your credit to be 20 open credit card lines. Try to get a few revolving credit lines (such as a credit card), a mortgage, etc. The more variety you have on your credit, the better your credit will be.

Past credit applications-10%
If you have been applying for every loan possible recently, it will definitely affect your credit score. Try to keep your inquiries below 5 per year. The more inquiries you have on your credit, the lower your score will be. Lenders get worried when they see that you are applying for any loan under the sun. What happens if you get approved for all of those loans? Will you get way over your head in debt? Be careful about applying for too many loans. Keep is reasonable.

As you can see, each factor has a different weight in the FICO formula. Making your payments on time affect your credit score more than applying for a ton of credit cards does. It is important to keep all of these factors in mind each time you check your credit report and credit score. Understanding how credit works is a great way to increase your credit score by doing things the right way.

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