Credit Card Debt – ‘Til Death Do Us Part
There are a lot of things you can’t take with you when you die, and in the case of credit card debt, it can be a good thing. However, this can change depending on where you live and whose names the credit card is under. Of course, the simplest scenario is that the credit card was on your name alone, with no joint account holders. In this case, any debt owed on the card, after death, would belong to only you and no one would inherit it. Read more
Prepaid Credit Cards – The Alternative for those with Bad Credit
In today’s technological era, it seems that more and more business and personal transactions are being done over the phone or online. As opposed to the old days when things were done through the mail or you had to go in person, the electronic age makes everything quicker. You can conduct routine transactions, from the comfort of your home, during almost any time of the day. You can do almost anything within minutes from making hotel reservations, booking airline tickets, or purchasing something from across the country on EBay or Amazon. Read more
Maintain the “You” in Your Credit Union
However, when it comes to credit, too much togetherness can be bad for your bottom line. Even though there’s no such thing as a “couples” or “joint” credit report, if you both are named on a loan or listed as joint account holders, any flub-up (late payments, defaults) on the account will mar both of your credit files, no matter who forgot to put the mortgage check in the mail.
CreditReportBlog.com recommends that all couples make looking at each other’s credit reports a part of the screening process once things start to move towards the marriage phase. As skeptical as it sounds, there is never a guarantee that any marriage is going to last forever. An uncomfortable conversation now can avoid an even more uncomfortable situation later, if things turn sour with your finances. Read more
Increasing Credit Worthiness
If you have none to little credit history, there are steps you can take to start building that credit history and in turn, improve your personal credit worthiness. Until you have a history of favorable transactions in your credit file, lenders do not know whether you are a good credit risk or not. Here are some unique steps you can try to increase your credit worthiness:
· Try applying for multiple credit cards within 1 year. Although they say that any inquiry into your credit file as a result of a credit card application automatically lowers your score, there is a hidden secret behind this. An inquiry for 1 credit card application has the same effect as 10 inquiries from 10 different applications if they hit the credit bureaus within 1 calendar year. Read more
Stop Identity Theft in its Tracks
No matter how careful you are, thieves are usually a step ahead. What do you do, when they come for you? Once you discover that you may have become a victim of identity theft, here are some MUST DO’S for you to avoid minimal damage:
· Immediately, notify police, banks, credit card companies, and any other parties that you can think of.
· Make certain that you get your copy of the police report, so that you have proof of a crime having been committed. Read more
Is it possible to “repair bad credit”?
If you have bad credit, be aware that your credit score keeps changing as new information is reported by your creditors. And so a bad credit score can change over time if you start to manage your credit responsibly. This means that you must do all the following:
· Pay bills on time, as late payments and collections can do real damage to your credit score. Read more
What the heck is a “credit report”?
You often see the term tossed around, but many times not everyone is totally clear on what a “credit report” really is. In simple terms, a credit report is a record of your credit activities that is kept by a consumer reporting agency (CRA). This will include a list of all loans and credit cards you have, the unpaid balances on these and whether or not you make regular payments. Read more
What are “Credit Bureaus”?
“Credit Bureaus” are companies that collect information about consumers’ financial activities. There are 3 major credit bureaus: EQUIFAX, EXPERIAN and TransUnion. They collect information from parties that have given you credit in the past, such as stores that may have given you credit cards, or banks that you may have obtained loans from. They then sell this information in the form of a credit report to anyone who has a legally recognized reason to request it. This would include: Read more
What is a “credit score”?
Wondering what a “credit score” is? Well, let’s break it down into a few basic terms. Your credit score is a number that is derived from your credit report that tells lenders or others how likely you are to make credit payments on time. This score will affect whether you are able to obtain credit and if so, what interest rates you may pay for credit cards, mortgages, car loans, or whatever the case may be. For the most part, a higher credit score will mean that you will most likely be approved for a new credit at a lower interest rate. Read more
About Us
It is a well know fact that credit reports can not only have errors, but also other people’s wrong information. Credit report errors and low credit scores cost people millions of dollars in high interest rates every year. In addition, many people get denied access to valuable credit and loans because of their low credit scores. Many times low credit scores are not even the fault of the person applying for credit but it’s due to errors. Yet, it’s a sad fact that not much is being done to help people.
We realized it’s about time to do something about it. We were looking for a way to quickly know what is happening around the credit industry so that people can access the facts and get to know the answers to their questions in easy simple to understand terms without spending days looking for proper answers.
In order to make the required information easily available, we are providing credit related information about credit reports, credit scores, credit monitoring, credit checks, credit cards, free credit reports, credit bureaus, credit counseling, identity theft, and other credit problems in an easy format so that people don’t have to go from site-to-site looking for answers.
We add fresh new tips to increase and maintain high credit scores all the time. Please check back often.
We hope it will help you as much as it’s helping us get quickly informed about the latest credit industry buzz.
Thanks for visiting our site. Have a high credit score.
CreditReportBlog.com
“Credit Report Blog” Team