September 26th, 2008 Admin
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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September 17th, 2008 Admin
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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