Free Instant Credit Reports – Score

Tom Tessin asked:




Instant results are what the customer wants in today’s market place. People no longer want to wait for a long process in order to get credit. The normal time period is only twenty four hours not days. The consumer no longer has time to wait in line at a bank but instead prefers to go online and apply for a credit card. The online service is safe and secure but most of all gives the consumer a quick answer.

The application for a secured credit card is normally a short and only requires you to have a job, with a good income. When the credit lending institutions approves your loan all you need to do is make a deposit into a savings account that they control.

The lending institutions all know that if you have made a deposit that it is most likely that you will make your payments each month. When you have a problem you only need contact them for a late pay. The lending bank will take your payment from the money that you left on deposit.

This should not happen if you can help it because your credit rating will suffer. The lending banks often make a report to the credit bureaus who give you a rating. When you want to apply for credit the way you pay on your secured credit card is recorded and it can determine your credit status. Many people use this type of card to build up a good credit rating.

Gerald

Irena Bocheva asked:




Anatole France once stated that “it is only the poor who pay cash, and not from virtue, but because they are refused credit”. Currently more than 35 million Americans are plagued by bad credit and the various issues related to it. Some of them have thrown in the towel and accepted the bad credit reality. Others have embarked on a long journey of financial discipline and careful budget planning with the ultimate goal-paying off debt in full. There is, however, a small percentage of Americans that have found shorter and easier ways to personal credit repair.

Here are the 3 most important pillars of fast credit repair.

1. Can you play the game “blindfolded”?

In the world of credit repair, knowledge is everything. Trying to fix your credit without the proper knowledge is like trying to find your way in a dark forest “blindfolded”? Do you know how your FICO score is calculated? How to read your credit report? Which are the most detrimental items in your report? Which are the most important factors in the credit formula? Do you know how to request validation of debt from credit bureaus, collection agencies and original creditors? How to dispute inaccurate, outdated, ambiguous and questionable info in your report? How to remove mistakes in your credit file using the Rapid Rescore strategy? How to use your legal rights specified in the Fair Credit Reporting Act and the Fair Debt Collection Practices Act?

There are so many ” how to” in the world of credit repair. The more you know about them, the better your chances to raise your credit score fast.

2. Load your gun with legal bullets.

As a consumer, you have various rights. Most of these rights are specified in the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. For example, you have the legal right to sue credit bureaus if they fail to respond to your written dispute within 30 days(FCRA,sec 611), creditors if you dispute a debt and they fail to report it as disputed to credit bureaus(FCRA, sec 623), collection agencies if they don’t validate your debt (upon your request), but continue to pursue collection activities (FDCPA, sec 809). You have much more leverage with credit bureaus, collection agencies and original creditors than you think. The key here is to learn your legal rights. And to use them to the maximum in the negotiation process.

3. Pull out all the stops.

Just like with any other area in life, credit repair requires energy and dedication. Collection agencies are not always eager to settle for the amount that you offer. Credit bureaus will not always honor your dispute and delete the disputed item from your record. Original creditors might not agree to remove that one time late payment from your record even after your explain the sad circumstances surrounding it. In other words-don’t expect all credit lights in front of you to turn green. However, you have to keep on trying. Perseverance is a vital part of the personal credit repair formula.

Personal credit repair requires credit knowledge, awareness of your legal rights and the right amount of perseverance and dedication. Once you start thinking outside the credit box, you’ll be surprised to find how easy credit repair actually is.

Judy

Marc T. asked:




It seems to be the normal way of life now days to have everything we want, and have it now. The use of credit cards along with an instant or “buy it now” attitude has millions of us in debt for life. We simply go pick out what ever we “need” now and pay with credit cards. Why not swap those high interest cards for secured credit cards, far safer to use? Secured credit cards have a cash “backup” which means you must have the money on deposit before borrowing it. Like borrowing your own money, they offer a way to buy things that require use of a credit card.

Getting into debt is the easy part

It’s hard for me to imagine not having a debit card with my checking account at the bank. I seldom carry cash because it can be dangerous when living in a big city with a high crime rate. This modern world changes some of those old time values even if we want to maintain them, it’s not easy to do.

Getting out of debt is difficult but doable

After years of prescribing to the “buy now pay later” method which includes living paycheck to paycheck as so many do virtually all of their lives, it is about time to climb out of debt and rebuild that damaged credit rating once and for all. It is an uphill climb to becoming free from debt. The prospect of saving thousands of dollars and eliminating bad credit due to using credit cards much of our life is a goal worth fighting for.

Get a free credit report to see where you stand

We are each entitled to a free copy of our credit rating once each year and that can be done by going to the three reporting companies who are the nationwide information source for our credit report. Don’t be fooled by those places that want you to pay for a report, the legitimate places will not charge you! Go to annual credit report dot com or call 1-877-322-8228 for the honest answers to your request for information.

Pay off the little fishes first before tackling the whales

In order to make the payoff of your debts appear doable it’s advisable to pay off the smallest one first, then the next, and so forth. When you pay off that little one apply the amount you paid on it each month toward what you pay on the next one, as this progresses you will have more and more to add onto your monthly payment for the next bigger debt and it will be paid off that much sooner. Mention was made above about having a debit card that goes with a checking account. That and two secured credit cards are the only plastic cards I carry anymore. After paying off the $20,000 we owed to various creditors we now have enough in our checking and savings accounts to pay cash for that much “needed” new TV or whatever we want. You can do it too!

Calvin

Jeremiah Perez asked:




Have you ever wondered how lenders evaluate your credits report? Credit score? Background Check?

Learn what creditors, landlords, and employers look for so you can ultimately improve your credit to obtain what you want.

Below are the 7 most crucial aspects creditors are evaluating and tips to improve them.

1. First one is a no brainer; a favorable point is to have all your accounts current. Tip: Make all your payments on time. Just with this, you will rank high amongst the general public.

2. Keep your debt-to-income ratio under 20%. Debt-to-income ratio is calculated by obtaining your total monthly debt and dividing it by your gross monthly income. Tip: Do not over extend yourself. Keep your expenses low and try not to use your credit for a while if it is over 20% or pay it down.

3. Having to many credit cards and open lines is not a favorable characteristic. Available balances on these lines are viewed as negative due to the fact that they can easily turn to future debt. Tip: Limit the amount of open accounts you have on your report.

4. One of the worse characteristics to have on your credit is late payments. Whether you are 30, 60, 90, or 120 days late, your credit score will suffer along with creditors risk analysis skyrocketing. Tip: Do what it takes; sell some items on the internet, get another job, lower your expenses, but make your payments on time. The longer it goes pass due, the worse it looks. If there is a negative comment or incorrect information, dispute the finding with the bureaus.

5. Too much credit inquires. Creditors frown upon more the 4 inquires within a year. Tip: Stop applying for all those department store credit cards because they offer you an additional 20% off your purchase. Be wise and pull your credit only if needed. Credit inquires usually disappear after 2 years depending on the nature of the inquiry.

6. Lenders do not like instability. Several changes in your physical address and employment are shunned upon by lenders. Tip: Try to keep the same address even if it requires you to rent a P.O. Box or a UPS box.

7. Last but not least, negative credit history such as bankruptcies and charge-offs may either force a rejection or approval with really high interest rate and fees. Tip: Depending on the type of bankruptcy or charge off, the negative remark will only exist for 7 – 10 year from the date of the original delinquency.

Credit reports all have 4 general types of data; Personal information, history data, Public records information, and creditor inquiries.

Pearl