HOW TO RAISE YOUR CREDIT                      SCOREHOW TO GET CREDIT REPORTS, CURE REPORT PROBLEMS, REDUCE INTEREST, AND G...
HOW TO RAISE YOUR                           CREDIT SCORE                                                check your credit ...
directly or indirectly as a consequenceof applying the information presented        #1. What it Meansherein, or in regard ...
on your loan applications. With a not so      debt for one person, they can easilygood credit score, you may get rejected ...
Try borrowing money from friends and                                              relatives. The nice part about borrowing...
be sure to have the supporting                You do that by knowing your currentdocuments. Never send the original and   ...
remove it. Your credit score may go           copy from all three at the same time ordown depending on your credit history...
The credit score is an indicator that tells   that you are piling up your debt.lenders if you will be able to pay theamoun...
If you are having a hard time, try to       borrowing habits and behavior based onnegotiate with the lender so an         ...
your credit score better over time.                                            Once you learn how to improve your         ...
This will give you an indication  whether your request will be  approved or not and how much  interest you will have to pa...
I saw an article quoting Eileen             proven letter. Eventually, my creditHarrington, Deputy Director of the FTCs   ...
This ebook is from, the creators                                   of http://prepaidcreditcardz.org/blog .                ...
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How to raise your credit score

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How to dispute credit reports, cut debt, avoid interest and create a stable financial future, in weeks, not years...

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  1. 1. HOW TO RAISE YOUR CREDIT SCOREHOW TO GET CREDIT REPORTS, CURE REPORT PROBLEMS, REDUCE INTEREST, AND GET LOANS STEVE SYMES Financial Web Publisher IPPTS Associates steve@prepaidcreditcardz.org www.prepaidcreditcardz.org/
  2. 2. HOW TO RAISE YOUR CREDIT SCORE check your credit score. This will giveHow to Raise Your you an indication whether yourCredit Score request will be approved or not and how much interest you will have toHow to check your credit reports, cut pay. The scoring system used by alldebt, avoid high interest, get loans, three are different but all point to oneand create a better financial future, in conclusion and that is whether or notweeks, not years... you have good or bad credit.Introduction 4. How to Understand Your Credit Score: Your credit score is calculatedInside this report, you will learn: based on several factors. Thirty-five percent of the total score is based on your credit history. But, there is a lot1. What it Means When People Refer more to it than that, as explained in to Their Credit Score: A credit score this report section. is not the amount of purchase that you incurred with your credit card and 5. How to Improve Your Credit Score: neither does the term refer to the It may take some bit of work until you points that you save for every get the idea of how to improve your purchase that you make with the credit score. However, a credit score credit card. This is not the meaning of may be one of the most important a credit score. Learn about it by aspects of your financial situation, reading this first article. and in this article you will learn more about this vital subject.2. What Is Considered a Good Credit Score?: What is a considered a good Should your primary concern be to credit score? A lot of experts say that repay debt or to invest any extra money you should get a score of 700 and that you have to work with? above so that you are able to get a loan at a lower interest rate. Learn Cover image: By Sludgegulper via Flickr about this as well by reading this first article. DISCLAIMER: This information is3. How to Check Your Credit Score: If provided "as is". The author, publishers you are thinking of applying for a and marketers of this information loan, it will be a good idea to first disclaim any loss or liability, either 2
  3. 3. directly or indirectly as a consequenceof applying the information presented #1. What it Meansherein, or in regard to the use andapplication of said information. No When People Referguarantee is given, either expressed orimplied, in regard to the merchantability, to Their Creditaccuracy, or acceptability of the Scoreinformation. A credit score is not the amount of purchase that you incurred with your credit card and neither does the term refer to the points that you save for every purchase that you make with the credit card. This is not the meaning of a credit score. Although it does involve credit per se, it does not only refer to credit cards but to credit in general, or in more common terms, a loan. A credit score is the numerical product of your credit history, from the loans that you incurred in college to the purchases that you make with your credit card. All are being recorded and filed under one credit history that can come back and hunt you if you are not careful. A credit score is used by banks and lending companies to make decisions 3
  4. 4. on your loan applications. With a not so debt for one person, they can easilygood credit score, you may get rejected reject your application.for a loan or if you are lucky will begiven a fraction of the amount that you There are many ways to get a creditare asking, for a higher interest rate and score. The industry standard is thea shorter payment period. FICO score, named after its creator Fair Isaac Corporation. FICO score is beingA credit score, you see, determines used by credit reference agencies, thatwhether a person is reliable enough to will gather the materials about yourbe given the money to as a loan. For credit history and then determine fromalthough, they will be earning from you their the credit score. Some use theirthrough the interest rates that they put own scoring systems that areon the loan, banks and lending comparable with the FICO score.companies are still cautious becausethey do know that they cannot just lend The FICO credit score can now betheir money to people they don’t know if determined by purchasing it over theable to handle money. internet through the website of credit reference agency, Equifax. The fee isA credit score depends on a lot of $12.95. The other two credit agencies,factor. One of which is your reputation TransUnion and Exparian are alsoas a borrower. Are you always late in selling their own score for roughly theyour payments for your credit card? Are same amount although TransUnionyou always knee deep in debt because packaged it with their credit historyyou cannot seem to get around to report that people can purchase online.paying each one until the interests werejust too high? So now you know what the meaning of a credit score is? Let’s hope you willDo you have maxed out credit cards? work on your own credit score.Have you had any other credit or loanthat you have paid for or are stillpaying? How many are they? Have you #2. What Ishad any problems paying for yourloans? These will figure in the credit Considered a Goodscore that you will have. Credit ScoreOther considerations that make up your What is a considered a good creditcredit score is income that you are score? A lot of experts say that youreceiving currently. People who have should get a score of 700 and above sohigh income are generally perceived as that you are able to get a loan at a lowersomeone who can handle a loan. interest rate.Another factor besides the ability to payfactor is the amount of debt that youhave. If the bank feels that it is too much 4
  5. 5. Try borrowing money from friends and relatives. The nice part about borrowing from people you know is that you won’t be charged an interest fee. Just and make sure you pay them. Could this have been avoided? Yes if you were able to monitor your expenses. One of the present problems right now here in America is the housing crisis and if are one of those that couldn’t pay for it anymore, this has aIs this easy to achieve? Given that 60% significant effect on your credit score.of Americans can do, then the answer isyes. You just have to pay your bills and Now that you know what is considereddebts on time to avoid incurring any to be a good credit score, the questionpenalties that could have a red flag on now is can you do it? This is somethingyour credit report. you can answer on your own but if you need help, there are financial advisersThe reason why there are still people that you can call on to help. You willwho cannot get a good credit score is have to do your share as well bybecause they have spend beyond their sticking to the map that has beenmeans. They are unable to resist the planned out.temptation to use that piece of plastic ina store thinking that they can get awayjust paying the minimum requirementmonthly but the difference grows thanksto interest.What happens is that they encounterlate payments and are marked as“unpaid.” This is then reflected in theircredit report which creditors will see andwill make applying for a loan difficult toalmost impossible. If you are just a few points away fromThe only solution is to clean up your act reaching 700, look at your credit reportand pay these debts. You will probably again to see if there are any errors.have to cut down on your expenses and Chances are, there is one there that yousell a few items. If this is not enough, can correct as long as you can prove towork overtime if the company you work the crediting agency that this is not true.for allows you to do so. If it doesn’t, seeif you can get a second job. Since they won’t take your word for it, 5
  6. 6. be sure to have the supporting You do that by knowing your currentdocuments. Never send the original and credit score and then reviewing it. Lookinstead send photocopies so you still for errors and if there happens to behave something to show later on. Once some, take the appropriate steps to fixthis is with them, an investigation will be them. You should call the credit agencyconducted. If your claims are true, then to report the error and then send thethey have no choice but to make the supporting documents by mail.corrections on your credit score. Never send the original copies becauseThe factors that are used to measure if they lose it, you have nothing left toyour credit score varies among the support your claims so senddifferent crediting agencies. With that photocopies.said, there is no standard as to what isconsidered to be a good credit score.Through the years, it was just acceptedthat anything above 700 is good so untilthis is standardized, this is somethingthat everyone must hope to attain.#3. How to CheckYour Credit ScoreIf you are thinking of applying for a loan,it will be a good idea to first check yourcredit score. This will give you anindication whether your request will beapproved or not and how much interestyou will have to pay.So how do you check your credit score?For that, you will need to get it from acredit agency. These three are namelyExperian, Equifax or Transunion. The next step is for the crediting agencyPeople can log in to their site and to conduct an investigation into therequest a copy which is absolutely free. matter. If your creditor cannot produce anything, then the error is immediatelyYour credit score could range from 350 removed from your record and a revisedto 750 points and the higher it is, the copy will be sent to you free of charge.better. If your score is below 700, thenyou need to improve on it. But if the report is correct, then you will have to take the appropriate steps to 6
  7. 7. remove it. Your credit score may go copy from all three at the same time ordown depending on your credit history. every few months.If you have unpaid loans or haveincurred late payments in your credit The scoring system used by all threecard, then you have to pay them. are different but all point to one conclusion and that is whether or notRemember that these things will be in you have good or bad credit.your credit report for the next 7 yearswhile filing for bankruptcy lasts for aboutten so you can’t run from it. #4. How toYou will have to find a way to come up Understand Yourwith the money by working overtime,cutting down on your expenses, getting Credit Scorea second job or selling some of your Numbers have different meanings. Invaluables. If you don’t know what to do, school, you are given an “A” if youit wouldn’t hurt to swallow your pride excel in a particular subject. In the realand ask for help as there are financial world, a 600 or 700 could have an effectadvisers that are willing to help you go on your ability to get a loan. This isthrough this time. called your credit score and to give you an idea, here is an explanation.If things are not that bad, perhaps youcan make a deal with your creditor sothis will not appear on your record thushaving no effect on your credit score.Just make sure you stick to the bargainbecause if you fail to do so, don’texpect them to be so generous the nexttime this happens.A year later, you can request for a newcopy of your credit report to see if thesteps you have taken have paid off. Ifyou see a significant improvementversus the year before, you know youare doing something right and youwon’t have a problem anymoreapplying for a loan.Checking your credit score is somethingpeople should do regularly by getting acopy from a crediting agency. There arethree to choose from and you can get a 7
  8. 8. The credit score is an indicator that tells that you are piling up your debt.lenders if you will be able to pay theamount that will be loaned to you. The The last ten percent is based on thescale goes from 340 to 750 and the types of credit you currently have. Thishigher it is, the less risk the lending includes the number of loans andinstitution is taking because they know credits that are available to you. Thisyou will be able to pay for it with weighs heavily when you are justinterest. establishing your credit history.If your score is below 700, you can still There is no actual passing or failingapply for loan but expect to pay at a mark when it comes to your credithigher interest rate as this is the only report. However, creditors haveway that the lending institution can be designated 700 to be the ideal creditsure you will be able to pay them back. score you should get. Sixty percent of Americans are able to achieve this so itYour credit score is calculated based on shouldn’t be that hard for other people.several factors. Thirty-five percent of thetotal score is based on your credit But if you are one of those that are nothistory. You could get a perfect score able to reach it, you can still improve onhere or have a few deductions if ever your score. If you have outstandingyou have had any late payments or debt, pay for it. If these are credit cards,bankruptcies. The more recent it is, the make sure that this is paid on time.greater the deduction.Thirty percent is based on outstandingdebt. This may come from car or homeloans, credit cards bills and utilities. Ifyou use your credit, make sure you onlyuse 25% of the limit or less so it doesnot have effect on your credit score.Fifteen percent of the credit scorecomes from the length of time that youhave had credit. The longer you have it,the better because this will givecreditors an idea of your consumerbehavior.Ten percent of the score is from thenumber of inquiries you have made inthe past. The trick here is not to havemany inquiries. Those who do inquirefrequently give creditors the impressions 8
  9. 9. If you are having a hard time, try to borrowing habits and behavior based onnegotiate with the lender so an some important credit factors. A formulaarrangement can be made and this developed by the Fair Isaac Corporationdoesn’t have to appear anymore on (FICO) is usually used to calculate foryour record. ones credit score. That is why your credit score is also usually referred to asNow that the credit score has been the FICO score.explained, you will now be able tointerpret what those three digit numbers When you have a low credit score, itmean when you get a copy of your tells the lender straight away that youcredit report. Aside from looking at the are not a very prospect as a borrower.total score, review each item carefully This may be based on your previousso that if there are any errors, this can credit accounts from which you maybe reported and corrected. have defaulted on, late payments of debts, bankruptcy or foreclosure issuesThe credit score also changes annually that you may have in the past and otherso don’t forget to get one a new one the similar factors. The higher your creditfollowing year. score, the more attractive you are as a borrower in the eyes of the lenders. This might mean that your credit application#5. How to Improve from them might just be easier to approve.Your Credit Score There are many ways that you may beIt may take some bit of work until you able to improve on your credit score.get the idea of how to improve your This will include having a closer look atcredit score. A credit score may be one your current credit standing. If you doof the most important aspects of your have outstanding credit to take care of,financial situation that would need your it would be good to pay your bills onconstant monitoring, especially if you time. Delinquent payments of youralways have the need to borrow money outstanding credit have a majorfrom lenders. Having a low credit score negative impact on your credit score. Itwill ensure you of having trouble getting is also important to note that the longeryour credit application approved as you that you try to pay your bills on time, thewould have wanted. better it will be for your credit score.Your credit score tells lenders of howdependable you are as a borrower.From your credit score, lenders andcredit institutions may be able to gaugeyour standing as a borrower. That isbecause the credit score is amathematical measure of a persons 9
  10. 10. your credit score better over time. Once you learn how to improve your credit score, the better your chances will be on availing of a much needed loan or mortgage when you really need it. It would be frustrating for one to apply for some much needed credit and not get approved in the end, all because of a low credit score. Improving your credit score can also assure you that you have better credit options especially during times that you might need it most. Keep in mind that very rarely do you have to rush to a decision. Take your time and make choices that will benefit you both in the short termIf you do find yourself missing on some and for your future. Ultimately, its uppayments, it may be wise to get current to you to decide how you want to spendas quickly as possible on your payments your money. Follow these tips to helpif you so can. Staying current with your you make a decision youll be happyoutstanding credit accounts may also with.have an effect on your credit score.Whats more, your credit record, alongwith the missed or delinquent payments,may reflect on your credit report and will Wrapping up...stay there for a period of seven years. Itwill be looked upon as a smudge on In this report, weve shown you:your report even after you have paid offyour debt. What it means when people refer toIf you find yourself having a hard time their credit scoremanaging your outstanding credit, itmay be time that you contact your You found out using our text, what iscreditors or ask for the help of a considered a good credit score.qualified credit counselor. These actions We explained how to check yourmay not immediately improve your own credit score: if you are thinking ofcredit score. But the sooner you act in applying for a loan, it will be a goodmanaging your debts well and paying idea to first check your credit score.your bills on time. It will eventually make 10
  11. 11. This will give you an indication whether your request will be approved or not and how much interest you will have to pay. The scoring system used by all three are different but all point to one conclusion and that is whether or not you have good or bad credit. We discussed how to understand your credit score, once you get it. According to Chris, a leading "DIY We gave you tips on how to improve Finance" Expert in the US, and owner of your credit score: and in this article the popular website 37 Days to Clean you will learn more about this vital Credit, the answer is yes! subject. "Like millions of hard-working Americans... struggling to get by, I wasHowever, this is just the beginning. If getting denied for credit everywhere Iyoud like to know more about debt, and turned. Yes, part of it was my fault, butways to repair your credit then you may the credit card approvals came so fast Ifind the following article useful: couldn’t resist. It started back in college when I got my first credit card. LikeSPECIAL REPORT: many young people, I quickly racked up over $14,000.00 in student loans and credit card debt. Not to mention, IIs It Possible To Boost barely had any income, so I wasYour Credit Score By missing payments left and right", Chris tells us.135 Points Or More InJust 37 Days, Even If Why most people struggleYoure Close To According to Chris, theres a reason whyBankruptcy And Cant so many people struggle with poor credit, despite so much help beingAfford an Accountant? offered to them today... "The first thing I did was try a so-called “professional” credit repair agency, but… they simply took my money and didn’t help me one bit. In fact, not long after I signed on the dotted line with a company that was supposed to help me. 11
  12. 12. I saw an article quoting Eileen proven letter. Eventually, my creditHarrington, Deputy Director of the FTCs score went from a lousy 520 all theBureau of Consumer Protection. Here’s way up to 655 in just 37 days! Todaywhat she said…“Credit repair my score is way over 700."schemes are a big problem forconsumers. Credit repair promoters And Chris is not alone. He has helpedgenerally charge hundreds of dollars, over 5000 people boost their creditbut dont deliver on their claims." score using his methods. There areGeez, I wish I knew that before I flushed many success stories that you can read$400 down the drain." on his website, “” that should, at the very least, inspire you to give it a try too.How Chris conquered his terriblecredit rating with a unique approach To learn more about Chris solution, and his story, along with dozens of other"I started researching credit repair, fixing stories from people who have also triedcredit, getting better credit… all the stuff this solution, visit 37 Days to Cleanthat I thought would help me figure it Credit .out. I literally had hundreds of pages oftips and strategies printed out all over What others are saying…my apartment. I felt like a detectivetrying to solve a mystery… and after "Chris, man I was skeptical... But acountless hours trying to figure out how couple bucks one time vs. a certainthe credit system worked. Credit Repair Law Firm 40 bucks a month. " – Mark Carlton, Carlsbad, CAI began to find buzz-words, catchphrases and dirty little secrets that got Click here to read the full reviewthe credit bureaus to take action… Somuch action that my credit score "Chris, I just finished your credit repairimproved by 135 points – and only program and was completely blowncost me a few bucks on stamps...", away! Its compact and exactly what IChris of 37 Days to Clean Credit tells was looking for. No fluff. No BS. " –us. Terry Jenkins, Boston, MAChris focuses on the unique DIY Click here to read the full reviewapproach of exploiting legal loopholes inthe credit system to repair your credit "Chris, thank you so much for youquickly, and easily. course. To be honest, I was very skeptical before buying your course. IWas it worth it? really had nothing to lose, so I decided to give it a try." – Stephanie Ross,"I used my templates to raise my own Atlanta, GAcredit score 135 points in only 37 days,and deleted 9 inquiries using one Click here to read the full review 12
  13. 13. This ebook is from, the creators of http://prepaidcreditcardz.org/blog . 13Powered by TCPDF (www.tcpdf.org)

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