Categories for How to Fix Credit

How to Use Multiple Balance Tranfer Cards. Specifically 0% Interest Credit Card Offers

April 27, 2011 5:00 am Published by

How to Use Multiple Balance Tranfer Cards. Specifically 0% Interest Credit Card Offers

Credit Card Trifecta: This is no gamble

Creative Thinking: breaking out of the box:

When it comes to breaking out of the shelled way individuals are trained to think; you need to do the forbidden. You need to embrace credit cards as a very useful financial tool. In order to start your thinking process down the right track you will first need to change your preconceived notions that “Credit cards are bad”. Everyone thinks a car loan is acceptable to barrow ,000 to ,000 but if you tell a person that you have ,000 on a credit card they flinch shrug their shoulders and get a bad opinion of you. You need to do the exact opposite of what you are told is bad for your credit. Businesses will tell you credit cards are bad for you, wrong! It is bad for the businesses bank accounts. The Credit Card Trifecta strategy is the best for your checking account balance. You will learn how to get the best possible interest rates each and every time you need a loan. Every time you make a purchase of mid size to big ticket items you should have a plan. Do not rely on retail stores 0% financing as you are falling back into the splurge spending credit card trap.

The Basics: Know your tools

0% on Purchase – Planned correctly you can purchase your mid size ticket items. 0% on purchase works within this principle. Usually when you make your purchase, and are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0. The timeframe ranges from 6 to 12 months with an immediate rate hike of 10% to 15+% it just depends.

0% on Balance Transfer- Use this to consolidate current debt, notice this didn’t say credit cards, into a manageable situation. This is a great way to pay off bills quickly. Usually when you transfer, you are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0.

On balance transfer you usually pay a fee, but be aware there are credit cards that do not charge a fee to transfer. The timeframe ranges from 6 to 12 months with an immediate rate hike of 10% to 15+% it just depends.

Fixed Rate – balance transfer for large debts, purchase of big ticket items, consolidation of current debt this is where most are too closed minded. Most think only in terms of credit cards when you should really examine all of your current bills. Usually when you make your purchase, and are charge a fee of a rate of approximately 3% with a minimum fee and maximum fee of usually less than 0.

Advance techniques: The Credit Card Trifecta Strategy

1) Get a low fixed credit card for daily use. Make all of your monthly purchases on this card. The idea is to pay off this card monthly. If it is not possible, having fixed is the best possible place to owe as it will help you to prevent high interest rates over the long term financing.

2) Use 0% on balance transfers or 0% on new purchases to buy big ticket items with a budget to pay them off. The key is to never use that credit card to charge again. You must completely pay of that card. (Generally your current credit card companies will not give as nice of offers as ones you don’t have. The credit card companies that do not have your business generally give a little more in the beginning.)

3) Get a low fixed rate credit card for the life of the balance and put any debt that you currently pay higher interest rates on that credit card. The key is to transfer as much debt as possible when you first get this card, since the fixed rate will usually go up for later transfer.

A simple plan:

1) Make a list of what you owe for every bill you have a monthly payment. Your columns headings should be this:

a. Name of Debt (significant to you)
b. Balance due
c. Interest Left
d. Monthly Payment
e. Current Interest Rate

2) Determine how you can save money

a. For instance if you have a credit card that was originally 0% financing that you where unable to pay it off within the specified time frame you are now being charge 10% to 23% a month on a balance of 00. Say you can make a monthly payment of 0 towards that debt. Most can get a 0% credit card offer to cover 00 dollars. Transfer that amount onto that card because the standard transfer fee is 3% which equates to to make the transfer. is much less than 10 to 20% you are charged throughout the year.

b. For higher ticket items you may not want to keep getting taken for 3% up to 0 every time you transfer, but you make still be saving money in the long run. First of all if all of your payments go straight to interest you balance will go down faster, while you minimums will decrease as well. If you can find companies that do not charge the 3% fee you can say even more.

c. If you can’t get a credit card company willing to give you the 0% and or do not have the time to keep transferring your balance then opt for the low fixed credit card offers which are fixed offers for life of the transfer. They key to these cards are simple you get the credit card make the transfer and never every touch the card until it is paid off.
3) Research multiple credit cards and start applying for the credit cards

4) Transfer your balances and or make your purchases

5) Review balances every year or after you have paid off a big bill or a couple of smaller ones or every year whichever is the first. Make sure to review as your credit limits will increase as you prove your timeliness, and so on.

6) After reviewing apply again to save more money.

Fast Credit Repair

After extensive searching I wanted to pass on this information. These are two website in which I have seen highly competitive offers: 0% interest credit card offers or for more balance transfer cards

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How to Increase Your Credit After Foreclosure

April 25, 2011 5:00 am Published by

How to Increase Your Credit After Foreclosure

While bankruptcy might get the most notice as a life changing or life devastating event that can ruin your credit, foreclosure shouldn’t fall very far behind. Foreclosure on a home can be a very sensitively difficult experience, and it’s going to knock the credit score almost as much as a bankruptcy. Foreclosure might not encompass the press that bankruptcy or credit repair after bankruptcy does, but when you go through foreclosure you still have to to fix bad credit and you will possibly want to acquire help from an organization that specializes in credit report repair services.

If you’ve been through foreclosure and now need methods and advice for helping to repair and rebuild your credit, then read on to find the best tips we have to offer on fixing bad credit and rebuilding your credit after foreclosure.

Fixing credit after foreclosure can be tricky, and sometimes even more difficult than credit repair after bankruptcy. The reason for this is that to fix bad credit, you need to pay on all your debts, and at least bankruptcy resets many of the debts to zero, while after foreclosure there is a good chance that you have many more accounts that are due or past due. This continues to hammer your credit even after foreclosure.

if you are wondering, “Is it possible to rebuild my credit?” then the foremost step is to examine all of your debts. examine if you have payments that are over 30, 60, or 120 days past due? Call the lenders who own the most overdue debt and try to work out payment. Budget tightly and pay the most overdue bills first. The length of time you are overdue on a delinquent bill is a major factor in how badly your credit is damaged. A bill 30 days past due is far less harmful to your credit than a bill that is 120 days past due.

While many of these debts might be erased with credit repair after bankruptcy, you still need to deal with these debts. Pay off any debts at 120 days overdue or more, then pay off debts 60 days overdue before they hit the next level, then pay off debts 30 days overdue, etc. This is the damage control part of rebuilding your credit, and is an essential part to fixing bad credit.

After this, the apparent next step is to make sure that you pay all of your bills on time. even if you have to pay only the minimum on your bills, it is better to just do it. You do not get ahead by paying off one bill ahead of time while another is late. If the difference in rent or living expenses and what the costs were before foreclosure isn’t enough, then call on professionals who offer credit report repair services to help fix bad credit .

They can help modify payment plans that you can manage to pay for each creditor, and explain to you how to get any student loans on hold due to financial adversity, and provide you with a payment arrangement that lets you use your money in the most proficient way to fix bad credit and to help you get back on track.

Follow these tips to help rebuild your credit after foreclosure, and get your life back on track as quickly and efficiently as possible.

Fast Credit Repair

Marvin Wright, MBA is a financial writer with expertise in consumer’s debt and finance with over 20 years of experience who has helped thousands of people improve their credit score. Would you like to learn the secrets of credit repair after bankruptcy or foreclosure? Learn how to dramatically improve your credit score after bankruptcy or foreclosure by claiming your FREE Credit Secrets Guide at http://www.creditboostdirect.com.

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Best way to fix credit?

April 22, 2011 5:00 am Published by

Question by navydave1974: Best way to fix credit?
Here is my situation. Me and the wife just applied for a our first mortgage. She has a credit score of 673 and I have the bad one of 584. I went ahead an pulled my reports from the 3 credit bureau’s. I have 5 accounts that are in collection or are delinquent. These are minor dollar amounts. Only like 44, 179, 144, 202 and 180. What is the best way to fix this without going to a specialist and paying the extra money. I have all the contact information of the creditors so I can contact them directly now. Should I call them (not mention I’m buying a house) and say I want to work with them to get this off my report? Then infer I don’t have much money but what is the least they will take to call it even? I have been much better with my money for the past 4 years with nothing negative. And once this is done, how long till I see it impact my credit score? Thanks for any help.

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Best answer:

Answer by abcdgoodall
fortunately the amounts are low. but unfortunately the changes can take some time. you have two options.

1. qualify for the house in your wife’s name. you can do “stated income” or “no doc” (if necessary) in just her name (so the debt ratio works out), and use her credit score to buy the home NOW.

2. or, work on your credit, wait some time, watch your scores and see when you’re over 650. remember, the MIDDLE of the three scores is what you will qualify under. so two of the three scores should be 650 or higher for a better deal.

to work on your credit, do it yourself. you don’t need to spend money to fix this. call the creditors, negotiate a settlement (less than full balance, but still considered paid in full). make sure to get the settlement agreement IN WRITING, and make sure it includes language that ensures they’ll label the debt “paid in full”, or even delete it from your credit altogether (and report it to ALL THE CREDIT BUREAUS IT SHOWS UP ON). keep copies of everything. after you pay them, follow up to get a receipt from them. then, you can go to www.annualcreditreport.com. this is where you can get a free copy of your credit report. order the credit reports and then go to each credit bureau website (experian.com, equifax.com, transunion.com) and file online disputes. they’ll track each item you dispute to the creditor and have it updated properly on your credit. watch it, and when its high enough, reapply for the mortgage. keep in mind, this can be a process that takes several months. good luck… its worth it once you own a house!

Give your answer to this question below!



Fix Post Bankruptcy Credit

April 21, 2011 5:00 pm Published by

Fix Post Bankruptcy Credit

A ruined credit history most possibly paralyzes the debtors borrowing rights. Hence after bankruptcy repairing the bad credit is the need of the hour. But the debtor needs to realize that things cannot be changed as fast as he thinks. He may bring about the change gradually in a systematic and planned manner. The result and success of the credit repair process depends on the debtors understanding and analyzes on the credit repair programs.

As soon as the bankruptcy is completed the debtor should follow the following steps

Ensure that his credit report is error less. To make sure this he need to collect the credit reports from the three credit bureaus and so a thorough analysis. If errors found report it to the agencies and get it rectified immediately.
Applying for new credit cards and properly managing them. The debtor should not end up in applying for numerous cards post bankruptcy. As this would again cause him trouble as all the bankers would clearly reject the application and this might also leave a mark in the debtor’s credit report. While applying for the credit card the debtor may also give a foot note in his credit report, highlighting the reasons for his bankruptcy filing and ensure that the report reflects the discharge of the bankruptcy.

It is necessary for the debtor to fix his credit scores after bankruptcy because he might avail loans in the near future. Also this fixation would help the debtor in reducing the challenges a discharged bankrupt person would face in the future when he tries to rise from the devastation. As the credit repair procedure is a time consuming one, it is always better for the debtor to start fixing immediately after the discharge. Credit fixing always reduces the rates of finance that the debtor might avail in the future. Once the credit is fixed the debtor have the chances of enjoying the benefits of various other credit products such as cash back, insurance and making overseas transactions. The bank would also provide normal personal current account and business account to the debtors whose credit record is fixed. The debtor can enter into medical insurance and other emergency contracts only if his credit record is repaired.

Removing of bankruptcy from the debtor credit report is impossible. Many agencies offer to do this for attractive prices. The debtor should have awareness about this and should not get deceived by these advertisements. As per bankruptcy law the bankruptcy discharge will remain in the debtor’s credit report for approximately 5-6 years. This cannot be curbed but the effect of it can be slowly reduced.

If the debtor has any bankruptcy restrictions rule then this would ultimately affect his credit repair process. After bankruptcy, the debtor should not miss any payments or fail to make payment on any outstanding bills. If it happens, then the process fixing credit record would become a great disaster. The debtor would end up paying increased interest rates causing considerable damage to the credit scores.

Fast Credit Repair

Want to know more about fix post bankruptcy credit and fix bankruptcy credit score ? visit us today at http://postbankruptcycreditrepair.com

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Bad Credit How To Fix-New Credit How To Get And New Identity

April 19, 2011 5:00 pm Published by

Bad Credit How To Fix-New Credit How To Get And New Identity

Get New Credit-Fix CreditAnd Get New Identity

In this report , I am outlining some strategies to “Get New Credit” and in a stange twist , maybe a “New Identity”.

While most people are trying to fix their credit problems by obtaining free reports on “How To Fix Credit” this can be difficult and very time consuming. I am not saying that “Credit Free Reports” dont work (thats if you can find a legitimate organization) Im just explaining that there may be alterative on how to “Get Good Credit”.

Sometimes (as in todays rough economy) it is just not enough to “Fix Your Credit”. You may be better off “Starting A New Credit File” then trying to fix the old one. I know….How do I start a “new credit file”?

Rather then doing the old “Credit Repair” process , take a moment to consider the following suggestions on how to get “New Credit” and possibly a “New Identity” if this is required for you to succed. As a disclaimer I am not suggesting to be fraudulent in obtaing a “New Identity”. I am just suggesting that in order to create a “New Credit File” you may have to make a few changes to your name(which is legal) and use a different mailing address and such.

“New Credit” And How To “Get Good Credit” Maybe With A “New Identity” And Repair Your Credit Score Free.

Step 1

Request a copy of your current credit report from all of the major credit reporting angencies(bureaus) that serve your area. You will want to see all of the current information published on your credit report. In order to succeed in getting “New Credit”. You will need to be sure you are aware of the information that is reported on your most recent “credit report” so you have knowledge what to avoid starting your “New Identity” and enabling yourself to “get good credit”.

The four major credit reporting bureaus:

TRW

Post office box 749029

Dallas Texas 75374

TRANSUNION CORP

Post office box 7000

North Olmstead , Ohio 44070

EQUIFAX

Post office box 740241

Atlanta , Georgia 30374

ASSOCIATED CREDIT SERVICES

624 E. North Belt , Suite 400

Houston , Texas 77060

Step 2

Secure a new taxpayer indentification number from the Internal Revenue Service. This will be your new number , replacing your old social security number. You can apply right over the phone if you like.You may tell them you are starting a new business or nothing at all. Just make sure you get your new tin(ein). There is no reason to be intimidated by the IRS. This step is crucial in order for you to get good credit and begin again basically as a new you , with a “New Identity” as far as creditors are concerned.

IRS

USA 1-800-829-4933

INTERNATIONAL 215-516-6999 (Not toll free)

Step 3

Open an alternative mailing address. Since your goal is to “Get New Credit” you must take every precaution to avoid merging your “New Credit” with your old credit file. Use a trusted friends home or relatives home who does not share the same last name. You might also try an office rental service or a secretarial service. You will need a address which is physical by nature and not a PO box.

When opening this new address , consider using your middle name first then your last name, just to be on the safe side.

Step 4

Get a new phone number. In todays age everyone has a cell phone and that is ok. Just keep in mind having an actual land line could be beneficial in some circumstances. Not all agencies consider a cell phone number as proof of residence or identity.

Step 5

Once you have recieved your new tax identification number (tin) or employer identification number (ein) open a new checking account and or savings account with your new new number.Make sure you provide the new mailing address and phone number on any information they require to start your new account. Now you are getting close to your goal. The feeling of being considered “credit worthy” is once again within reach.

Step 6

Using the same information as above , apply for a loan backed by your new savings account as collateral. Another good idea is to get a secured credit card using your new information and make timely payments to get your “new credit file” started.

Step 7

Payoff the loan you recieved on your “New Credit” file in approximately 3 mos. This will allow for just enough time for your payments to be reported, and also show that you sre responsible and “a good credit risk”.

Step 8

After you have paid off your loan that you revieved via your “New Credit File” seriously consider getting a second secured loan. It should be no problem as the first loan was paid off in a timely manner. You may even be able to ask for an increase in the loan amount.

Step 9

Do not abuse this new credit file. It will probably be your last chance to enjoy good credit. Always plan ahead when making decisions concerning your credit and never allow emotions to get the better of you.

A few important things to remember when starting your “New Identity” and using your “New Credit”

In order to never merge your old credit file with your new , keep this in mind:

Dont apply for credit where you have had it in the past

Do not use prior credit references (even if they are good)

Do not put your spouse on any new applications.

Do not use personal checks from your old banks to pay your new creditors,

Never use your social security number on any new credit applications.

Never use old addresses or phone numbers (references) on any new credit applications.

I sincerely hope this information will be useful to you. If used correctly it can and will help you establish “New Credit” a “New Identity” with creditors and allow you to “Get Good Credit” so you may live the life you aspire to.

Good Luck

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