Categories for Raise Credit Score

how do I raise credit score and when will old accounts be erased?

May 11, 2011 5:00 am Published by

Question by jdm iam: how do I raise credit score and when will old accounts be erased?
I recently got rid of all my debt except for my student loan which is current and around 10000. I had about 8 delinquent accounts and are now paid. I do know its a seven year period that the accounts are on your credit but is it from the time the account is paid off or from the time the account went to the creditors. Because I was able to get some accounts removed from my credit history days after it was paid. And how do Iget my score higher besides the obvious on-time payments?

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Best answer:

Answer by Iffy
From the time it is paid off. On time payments are the only way to raise it.

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Tips to Improve Credit Score – 5 Credit Repair Tips for Restoring Needed Credit Quickly

May 9, 2011 5:00 am Published by

Tips to Improve Credit Score – 5 Credit Repair Tips for Restoring Needed Credit Quickly

The importance of increasing score cannot be neglected as it is a mark of credibility of a consumer. This is very simple to judge the reputation of a person before making a business deal with him or while hiring him for a new job by just observing his score. It represents the whole previous behavior of repayments and everyone wants to make relation with those personals who are reputed in repayments.

People do have information about importance of improving score but do not have information about how to improve. There are 5 proven tips to improve score.

1. Manage your income and expenditure and spare some money for extra payments against your loans. People try to manage through minimum amounts of unsecured loans but this is not appropriate way. Try to pay some extra amount in addition to minimum amount. This will really help you to improve your credit score.

2. If you are running some accounts which are regular and have good credit history then do not close those accounts and make regular transactions from those accounts. This will be more affective to improve credit score.

3. Try to eliminate some of your loans which are useless and the figures are small enough to be considered. These small amounts reflect on your credit report like a pending amount. Either amount is small or big but it is a multiplication in the calculation of credit score.

4. Negotiate with the financial institution with the help of debt settlement companies and eliminate your loans which you feel are massive for you and causing damage in your score. The elimination of massive loans will help in sudden improvement in score.

5. Hire a credit repair company and remove all negative items from your credit report. The professionals of credit Repair Company will help you to improve your credit score by guiding you in financial matters. These companies ease the process of removing negative items from your credit report and prepare affective documents

It is not advisable to take any risk with credit score so always hire a professional and legitimate credit repair company and boost your credit score effectively.

The process of bad credit repair can be time consuming. If you are working within a certain time frame and need a faster process, options are available. Reading through your credit report and eliminating the negative marks, through disputation, can erase bad credit. Visit the following link for more information on how to repair your credit quickly and legally:

Fix Bad Credit

Fast Credit Repair

William Roberts is an advocate for consumer rights and a member of organizations helping citizens rebuild their financial state.

Article from articlesbase.com



Credit Repair Help – How to Boost Credit Scores From the Convenience of Your Home

May 4, 2011 5:00 pm Published by

Credit Repair Help – How to Boost Credit Scores From the Convenience of Your Home

The credit repair is a must if you do not have a good credit score. The credit repair is a process following which you can improve your credit rating. Prior to improving your credit rating it is better to understand what is credit score? The credit history is your score given by the private firms to you. This score decides your credibility. Whenever you apply for loan or card etc in which credit is involved, this score is checked. The credit score depends upon your punctuality in returning the debt, debt ratio, past financial history etc.

If you want to improve your score then you can get credit repair help online. Just follow the below mentioned points and this will act as card repair help for you. To follow these points you do not have to physically go out of your house.

1. Always pay your card outstanding balance on time. The delay of a single day will make you lose lot of points in your score. This punctuality in payment constitutes the 35% of credit score.

2. Keep checking your score periodically. Sometimes it is found that due to the errors from the employees of credit giving firms your report may have some wrong data. This is our responsibility to check the report and register the dispute via written medium with the score giving firm.

3. You should not use card more than 30% of your credit limit. This helps you in managing the card debt and helps you to get good score.

4. Ask someone with good credit who trusts you to add you as authorized person in his/her card. This will reflect in your report.

5. Try to clear the negative records from your report as soon as possible. These records may be of outstanding balance, unpaid debt etc. This will helps in improving your score.

You can hire the professional relief help which is offered by the credit repair firms. They are professional in their approach and you do not have to go to the credit giving organization for this. Once you give them the case they will handle it on your behalf.

The process to erase bad credit can be time consuming. If you are working within a certain time frame and need a faster process, options are available. Reading through your credit report and eliminating the negative marks, through disputation, can erase bad credit. Visit the following link for more information on how to repair your credit quickly and legally:

Increase Credit Score

Fast Credit Repair

William Roberts is an advocate for consumer rights and a member of organizations helping citizens rebuild their financial state.

Article from articlesbase.com



Increase Credit Score & Get Higher Credit Scores Rating

May 4, 2011 5:00 am Published by

Increase Credit Score & Get Higher Credit Scores Rating

Your credit scores rating is an evaluation lenders use in order to qualify you for a loan. If you need an auto loan or a home mortgage, the process is similiar, excet with a mortgage the lender wants to make sure the value and equity are enough for the risk of default to be in their best interests.

There are three types of numbers used to evaluate the credit scores rating. These are also referred to as FICO scores or credit report scores. Credit reporting bureau’s keep records on the financial lives of consumers. These credit scores are maintained by the three major credit bureau’s, Equifax, Experian and Transunion. Each of these companies uses software to determine risk, which is essentially what your credit score is all about.

If shopping for a loan, what is a good FICO score? Most lenders agree that good credit is represented by credit scores above 700. On a possible range from 350 to 850 many lenders will automatically qualify individuals with a 700 plus credit rating. These applicants will also receive the best rates.

Poor credit is usually referred to by a number below 500. These applicants will usually not qualify for the best interest rates and will pay substantially higher monthly payments as represented by higher interest rates. Over the life of a lloan or mortgage, the higher interest will often translate to thousands of dollars per year, adding up to more than a year’s salary.

Lenders will normally take the middle credit score when evaluating a loan. Since each credit reporting agency uses different software they scores will be different. The other reason your credit score is not the same is because credit bureau’s do not always get the same information reported to them.

It pays to do everything possible to increase credit scores. This is done by a careful examination of each credit report. Looking for reporting errors, marking them and writing a credible dispute letter is necessary to qualify for deletion. Since the credit bureau’s are regulated by the Fair Credit Reporting Act, they must adhere to the standards outlined in that law.

One important regulation requires credit reporting agencies to verify within thirty days, the validity of any dispute received. Such verification will usually require credit agencies to contact the original lender. If, within the alloted time, they fail to verify the dispute, they are required by law to delete the account form the credit report.

Credit dispute letters should be send certified mail with a return receipt. This will insure that a date is established for the beginning of the thirty day vefification period. A common ploy used by credit repair services is to file several dispute letters at once with the intention of overwhelming the bureau. Such an increased workload often makes mistakes possible and the chances of completing the verification work in a timely manner is an advantage to the consumer.

Online credit repair software has become popular as a means of increasing credit scores. the ability to see credit reports online in an easy to understand format also allows consumers to take control of their credit files.

Fast Credit Repair

Do you understand how to determine your credit scores rating? Are you looking for lower interest loans. Why pay an outside company when you can clean up your own credit? With online software, like AVAIL, whic has just become available to consumers, you do not need a credit repair service to write a series of dispute letters for you. In fact, AVAIL writes a dispute letter automatically. All you do is print and sign. Don’t be misled that credit repair is a huge mystery because it isn’t. For a very small fee, you can be online in a secure server. You will be able to see what lenders see and you will be able to make fast and important decisions about your credit reports.

Article from articlesbase.com



What Factors Determine Your Credit Score?

May 1, 2011 5:00 pm Published by

What Factors Determine Your Credit Score?

Whether you are in the market to buy a home, or finance a new car, apply for a personal loan, or simply want to obtain a higher credit limit you need to have your credit up to “lending standard”. You may meet lending guidelines in the form of employment history and sufficient funds to reach your financial goals but that is not always enough. Your credit is one of the most important factors in reaching your financial goals, which is why you must understand how your credit is determained.

The majority of people do not understand their credit reports.

“What determines your score?”

“What is negative information?”

“What is positive information?”

These are all questions I have come across, your credit report is made up of a variety of different components. As a credit specialist, I deal with credit reports on a daily basis. After some research we found what the key factors are in determining your credit score.

It’s important to know that your FICO score is the single most important number used by lenders to determine the risk involved when financing a loan for you. This score will ultimately determine your interest rates, monthly payments, and whether or not you are even approved for a loan.

So What Dictates Your Credit Score?

 

Payment History; 35%This category makes up the biggest portion of your credit score (35%).It includes all payment information (Positive or Negative) as reported by the creditors to the credit bureaus.
Number of accounts paid on time
Number of past due accounts.
Amount due on delinquent or collection accounts( if any)
Length of both Negative and Positive accounts.
Adverse public records ( Bankruptcy, liens, judgments, etc.)

 

Debt Amount Due: 30%Debt amounts due makes up (30%) of your score.It is not as simple as adding up how much debt you have because everyone’s financial situation is unique. It has more to do with the percentages, and diversity of the debts owed. For example, if your credit is made up on ONLY credit cards and nothing else this could negatively affect your score.
Amounts owed on accounts
Lack of specific types of credit
Number of accounts with outstanding balance
Amount of debt owed compared to available balance.( usually you want to owe 25% or less of your credit lines)

 

Length Of Credit History: 15%The length of your credit history makes up (15%) of your credit. Basically, the amount of time that your credit accounts have been open. This also includes recent activity on the accounts Be careful about closing accounts that you have had for a long time.

 

New Credit: 10%New credit makes up (10%) of your credit score. This makes up newly opened accounts, new credit inquiries etc. It is extremely important to pay your new accounts on time, creditors want to see recent positive payment history after having had past payment problems.
Number of recently opened accounts (as well as type of account)
Number of credit inquiries ( time since inquiries)
Good recent payment history after having had past payment problems.

 

Type Of Credit: 10%The diversity of your accounts is also taken into consideration. It makes up (10%) of your credit score.This will include the number of accounts and various types of credit such as credit cards, mortgages, auto loans, retail accounts, etc.

This information can be read in full at http://www.nationalchoicecredit.com/ with detailed charts and other useful information.

Contrary to popular belief fixing your credit is not as simple as removing negative items. There is much more that goes into your credit report and score (as mentioned above). Now that you have the knowledge of what determines your score you can get started on putting this information into use to get your credit score to lending standard.

Good luck in all your financial ventures!

-National Choice Credit Solutions Team

 

 

 

Fast Credit Repair

National Choice Credit Solutions knows it is important for comsumers to be educated, read all of our articles to learn more about having and maintaining good credit.

National Choice Credit offers our clients a fresh new program that will help revive your credit and rejuvenate your financial situation. National Choice will work closely with its affiliates to help our clients get guaranteed approvals and achieve true long term credit success. We help our clients reach their financial goals such as purchasing a home. We also work with many mortgage lenders and real estate agents to help their “turn down” clients reach lending standards!Visit our website at http://www.nationalchoicecredit.com/

Article from articlesbase.com

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