There is no such thing as a fast or sure way of obtaining credit, and no one has ever truly ‘murdered’ us. In that sense, the concept of ‘getting it’ is almost as old as religion itself. But today, with the new era of applying for credit with your credit cards and your credit card limit being raised to a whole new level, it is time to take a closer look at how your own credit score actually feels.
The first step in getting approved for credit and becoming debt-free is meeting a financial obligation and paying it off. In the process of trying to get that debt to be paid at the same time, you end up hurting yourself far more than benefiting anyone in particular. For example, credit card companies and banks could use any excuse when they wanted to lower your debt. Instead, they make the mistake of getting caught and trying to do something about it.
When you meet with a bank or credit card company to negotiate a lower interest rate or payment plan, be careful of your word. They can easily use your poor financial records, something that very few people truly need. For example, check your credit report. Are you aware that someone will be able to make ends meet illegally by selling your things you don’t use? It is highly probable that your report will be viewed for a number of years. In some cases, a creditor will not report items that have incorrect information. Furthermore, it is a federal crime for a creditor to remove information from your report to investigate an allegation of fraud. If you are not aware of these laws, you will probably incur fines or imprisonment or both.
If you are worried about getting a higher interest rate or payment ratio than your credit card company would like you to believe, you are probably not alone. Reports show that the people who get themselves into this mess can get for far more than they will ever do. It is no good telling people to pay you what they will not pay back. Many people become debt free only after spending their entire card balances. Let’s face it, as a lender dealing with debt, you need to be very careful and keep your fees and interest rates in mind. Many people borrow too much, too often, and don’t read too much into it unless you do agree to. Make sure, before you do, that your fees and interest rates aren’t increasing your balance. If they will also increase yours, it indicates a significant amount of overindebtedness to your creditors when it comes to your current problem.
It is never a good idea to go out for shopping alone. It is good to know where you find the stores you are looking for in your credit report. It is also easy to walk into an impoundment location and find yourself having to pay sky high interest rates or pay even more in late fees and high costs. I know! But there are a variety of great places to find credit cards online that are actually very free and easy to get ahold of.
How To Improve Your Credit Report
Your credit report can be the key to your whole financial future. A free credit report will give you a glimpse into your life and your priorities. It will reflect on you as a consumer, the way you use your credit cards, your home, your education, how many you own, and more.
How To Improve Your Credit Report
In this section you will learn how to improve your credit report. It is easiest to improve the following items:
– Whether you use your credit cards responsibly
– Your willingness to pay off the highest amounts on each bill
– How many lines of credit you check on a regular basis
– Amount of credit accounts that have been closed, and any further inquiries
– How often you fill out new applications for credit
Your credit report also helps in your financial management. You can improve the following:
– How much you owe on any new account
– How long you’ve paid off your credit lines
– How many lines of credit you open for new accounts
If you notice a discrepancy in your credit report, it will show up as a corrected entry. It can be helpful to you to take steps to correct the discrepancy.
How to improve your credit report
Open two major credit bureaus (Equifax and Trans Union);
– Make copies and mail them to: Equifax,