Archive for the ‘FICO Score’ Category

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Increase your credit score by eliminating your debt

April 24th, 2008 by Adam | No Comments | Filed in Credit Score, Credit Score Advice, Credit Score Tips, FICO Score, Get out of debt, Improve Credit Score, Pay Your Bills, Personal Finance

Why Do You Want To Check Your Free Credit Scores?

Check the Situation That Best Applies to You And Then Click the Button Below to See Your 3 Credit Scores Absolutely Free

I want my 3 free credit scores from Experian, Equifax, Transunion that the government does not provide free

I want to apply for a credit card and get a low APR

I am preparing for a major purchase (home, auto, boat) and want to make sure I get the best loan rate I qualify for

Just curious where my credit stands against the average American credit scores

check 3 free credit scores

(Click the button above to see your 3 free credit scores)

Hello-

Since your debt load contributes to 30% of your credit score, the more debt you have, the lower your score. So in order for you to increase your credit score, you need to reduce how much debt you have.

There are several ways to eliminate your debt.

The standard answer is to make sure you are paying more than the minimum and stop charging stuff you don’t need.

A better answer is to try and eliminate some of your debts by using debt settlement. If you are behind on your payments and need help but don’t want to file bankruptcy, you may want to consider settling your debts.

There is a company called Credit Solutions that is one of the biggest debt settlement companies around. They were featured on NBC as one of the top ways to get help with your debt.

When you lower your debts, you can increase your score by up to 30%.

-Adam

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Get a better credit score for 2008

December 30th, 2007 by Adam | No Comments | Filed in Credit Score, Credit Score Advice, Credit Score Tips, FICO Score, Improve Credit Score

Hello-

Re: Get a better credit score for 2008

It’s the time to start making New Year’s resolutions again. Time sure does fly by doesn’t it? I’ll pretend you nodded your head in agreement.

The common goals people say they want to achieve are losing weight, quitting smoking, reducing stress, drinking less alcohol, and saving more money. How come getting a better credit score is not one of the top resolutions on the list? Your credit score is used for so many things nowadays that many people would be much better off financially if they had a better credit score.

You can save on all your loans and credit cards by raising your credit score. You can save more money for other things, such as college and retirement, by having a higher credit score.

Here’s what goes into your FICO credit score:

  • Payment history - 35%
  • Amounts owed - 30%
  • Length of credit history - 15%
  • New credit - 10%
  • Types of credit used - 10%

So how to get a better credit score? Take a look at what goes into it from above and then see what you can do. Your payment history is 35% of your score. Make it a point to pay all your bills on time. Setup automatic payments to make sure all your bills are paid on time. Amounts owed on your credit cards is 30% so work more hours, get a second job - do what you have to do to earn more money to reduce the amount you owe on your credit cards. Pay more than the minimum and your debts will go down faster. Charge less.

Try and buy things with cash more than with credit. If you stop adding charges to your credit card, it will be easier to pay off what you’ve already charged.

Call your credit card companies and ask for a lower interest rate. Point out how long you have been a good customer and how you have paid your bills on time and ask for a lower interest rate. Call, write, and ask again and again.

15% of your credit score is your based on the length your credit card accounts have been open. If you have an account that is unused, leave it open. Your score will drop if you close that account. The longer the account has been open the better.

These 3 tips alone make up 80% of your credit score. Follow these tips to help you get a better credit score for 2008.

Have a healthy, happy, and prosperous New Year!

-Adam

Free Credit Score Tips

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How high does your credit score have to be to get a good loan?

November 20th, 2007 by Adam | No Comments | Filed in Credit Score, Credit Score Advice, Credit Score Tips, FICO Score, Improve Credit Score

Hello-

I found this video about credit scores while browsing around on YouTube.

The video talks about how high your credit score has to be to get a good interest rate on a home loan.

It’s only 2 mins long so check it out:

-Adam

Free Credit Score Course

Are you ever going to be out of debt?

August 9th, 2007 by Adam | No Comments | Filed in Credit Repair, Credit Score, Credit Score Advice, Credit Score Tips, FICO Score, Get out of debt, Improve Credit Score, Personal Finance

Seems like you’ve always been stuck in debt and don’t see a way out. Sometimes you may think that you’ll never be out of credit card debt. You’re not alone. Millions of people suffer from this same thinking every day. Tons of people lose sleep over it every night worrying about paying the credit card bill.

Well, the credit card companies would love it if you were never out of debt. They love you. The credit card companies love it when you have trouble paying your bills and miss a payment. They get to charge a $39 late fee and then get to raise your interest rate as well.

And on top of that, you get a black mark on your credit report and your credit score goes down just for that one little slip up. And that one little missed payment will affect your credit score for several months, possibly even years. You miss one monthly payment by a few days and make 11 on time payments for the rest of the year but yet you’re punished for a long time. Sometimes it just doesn’t seem fair.

So back to the question at hand, are you ever going to be out of debt? The answer is, “depends.” If you’re a fan of poker, you hear that term a lot when you want to know how to play a hand. If you keep charging small meals and quick trips to the mall to buy a new pair of shoes or if you keep downloading the latest pop songs on iTunes then the answer is no, you will never get out of debt.

There are habits that need to be changed in order for anyone to get out of debt. The pain of being in debt has to be so severe that the pleasure of being out of debt will finally look good. If the pain of being in debt is only a minor thorn in your side and you can make the minimum payments each month then you probably won’t get out of debt.

You’ll just keep racking up wonderful interest charges for the credit card companies each and every month and you’ll keep getting new credit card offers from all the other credit card companies that want to reward you for being such a good customer.

If you want to get out of debt, you need to sacrifice, you need to cut back. You need to give up stuff you really don’t need in order to get the most valuable thing you can have - your freedom. Freedom to do what you want and not be under anyone’s control. You don’t want to be working just to pay your credit card bills. You want to work and be your own person. When you’re in debt, you’re not in control of your life. Your under the control of the credit card companies.

Make up your mind to get out of debt once and for all. Cut up the credit cards. Cancel the department store credit cards and when you get those Amazon emails saying your favorite author just released a new book and suggests you go buy it - don’t. You’ll thank yourself months from now when you start to see your credit card balance go down and you’ll sleep better knowing you’re on your way to getting out of debt.

-Adam

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