credit score

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How To Repair Your Credit Score

Cards for Bad Credit: Your credit score is one of the most important factors in getting a loan, qualifying for a mortgage on a house, getting financed on a new car, or being approved for a new credit card. Repairing your credit score is essential if you want to be eligible for the best deals available. A high credit score tells lenders that you are reliable, and as a result you will get lower interest rates and better terms. On the other hand, a low credit score labels you as high risk, making lenders more likely to charge you a higher interest rate – if they don’t reject you altogether. Negative items on yo...

Card Expert on May 31, 2010 0

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What Your Credit Score Is Made Of

Card Insider: Your credit score is a three-digit number that is used to predict how you will pay your bills. The score ranges from 300-850 and is calculated using your credit history information from your credit report. When you make an application for credit, the creditor or lender uses your credit score to quickly make a credit/no-credit decision. This same decision can very well be made by simply viewing your credit report, but the credit score makes decision-making easier and less subjective. While there are several different versions of the credit score, the most commonly used version is the FICO...

CreditCardsGuru on May 24, 2010 0

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New Rules For Healthy Credit Score

Card Insider: The rules that credit-card companies have to live by changed dramatically with the enactment of new regulations last month. Now, some of the rules for consumers striving to maintain good credit are changing, too. For the most part, card holders would still do well to pay on time, keep their balances low and refrain from applying for too many credit cards at once. But some of the old tenets may not always hold up, as credit-card companies continue to adapt to the new environment and look for ways to run their for-profit businesses. Case in point: Many issuers introduced annual or inactivi...

CreditCardsGuru on April 28, 2010 0

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Credit Card – Friend or Foe?

Best Cards: Some might refer to the good ol’ credit card as the Fantastic Plastic. As recent statistics have shown, credit cards in the western world are proving to be anything but fantastic, especially for those who succumb to its use. Debt quickly emerges and strangles the card owner somewhat like a Boa Constrictor strangling its host. Deceptive Plastic Perhaps it would be better referred to as Deceptive Plastic. Many card holders don’t realize what their balance is, on a day to day basis, or just how much interest they are paying on funds not paid in full by the due date. ...

Card Expert on January 22, 2010 0

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The Perils of Universal Default

Best Cards: Universal default – two words that should strike fear into the heart of any credit card holder. What is it? Why is it so terrible? And does your credit card participate in universal default? Universal default is a clause in many credit card agreements which states that if the card holder defaults on payments – any payments – they can be subject to an increase in interest on their credit cards. And when we say that any payments can affect this, we mean any: utilities, car notes, mortgages, and other payments that have nothing whatsoever to do with your credit card acco...

Card Expert on November 20, 2009 0

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10 ways women can build credit

Best Cards: When many women think of credit, their first thought is the array of plastic cards in their wallets -- one from nearly every store in the mall. Maybe you're at the other extreme -- so wary of credit that you've paid off your mortgage and your car loan and cut up all your credit cards. Too much credit or not enough -- both can hurt your credit score and cost you thousands of dollars or even a job offer. And if you're one of those women who lets your husband handle all the bills, investment ignorance will not lead to financial bliss. Whether you're fresh out of high school or coll...

Card Expert on November 16, 2009 0

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Is your credit card issuer unfair?

Card Insider: Federal regulators use these guidelines to determine whether card companies are following the law or employing deceptive or unfair practices. Ever wonder whether a credit card issuer's offer to you or treatment of your account is, in a legal sense, unfair or deceptive? If it is, your lender could get a civil penalty ranging from $11,000 to more than $1 million per violation, per day. Whether you get reimbursed and by how much depends upon the regulator involved and state and federal rules. The Federal Deposit Insurance Corp. has detailed how to detect unfair or deceptive cred...

Card Expert on November 12, 2009 0

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Strategies To Increase Your Credit Score

Card Insider: Below is description on what goes into your FICO score: 35% - How timely you have been with payments 30% - How much you owe compared with your total available credit 15% - How long a credit history you have 10% - Whether you have recently taken on new credit/debit 10% - What mix of credit types you have Never be late on your payments - As you see in the pie chart above, the biggest % of your credit score comes from your payment history and...

CreditCardsAct on August 28, 2009 0

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What Consumers Should Know About Credit Cards

Card Insider: News that as many as 130 million debit and credit cards may have been breached highlights the growing risk of fraud. Here is what it means for consumers. Q: How can I tell if my information has been compromised? A: In almost every state, companies that suffer a data breach will have to notify customers if their personal data may have been breached. Meantime, consumers should monitor their bank and credit-card accounts and report any unusual activity to the financial institution. Q: How do I protect myself? A: First, get copies of your credit report to make sure the information is a...

CreditCardsAct on August 18, 2009 0

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Credit Card Guidelines

Money Saver: Below are some basic principles for managing your credit cards wisely, to avoid unnecessary credit repairs and to maintain high credit score: Keep your balances as low as possible - Pay off your balance in full each month. Don’t overcharge your credit card id you can not pay it off on time. Manage your accounts carefully - You should read over your statement and look for charges that might not be yours and make sure ...

CreditCardsAct on August 17, 2009 0

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Use Credit Cards and Increase Your Credit Score

Money Saver: Your credit cards play an essential role in build up your credit score. Nowadays, majority of people use credit cards, that why we all need to know how to use credit cards properly to increase credit score. Also, if you use your credit cards wisely, you may be rewarded with lower interest rates, higher credit limits and a good credit score. When using your credit card try to: Notify your creditor if you will be l...

CreditCardsAct on August 12, 2009 0

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