Archive for June, 2011

How to Check Your Credit Report Each Year
News from PCWorld:

Unfortunately, even if you do everything right, bad guys might still succeed in stealing your identity. After all, you can control who has access to your personal information, but you can’t control how well a company that you do business with secures its personal-data records.

Nevertheless, you can limit the damage that would result from undetected identity theft by checking your credit report regularly. Periodically checking your credit report is a good way to make sure that no one has opened credit card or bank accounts under your name.

If you are a U.S. citizen, you’re entitled to receive one free credit report every …………… continues on PCWorld
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Seven Credit Tips for the Golden Years
News from Fox News:

Good credit is like a muscle: You either use it or lose it. And that can be an issue for a lot of empty nesters and retirees.

Empty nesters, baby boomers and retirees have a big advantage when it comes to credit. Not only do they have a long history of using it — a big plus for the credit score — but often they also have deep-sixed a lot of their debt.

“(They) are probably financially in a much different position than younger cardholders, from the standpoint that most of their debt has been retired,” says Norm Magnuson, vice president of public affairs for the Consumer Data Industry Association, a trade association for consumer reporting companies.

But empty nesters and retirees also have some special credit needs and concerns. While they might not use credit as much as they did in their 30s and 40s, their scores — which can determine what they pay for insurance, if they pa…………… continues on Fox News
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4 tips to help determine if owning a home is right
News from CNBC.com:

US News

Page 1 of 2 | Next Page
Show Entire Article

4 tips to help determine if owning a home is right

The Associated Press | June 28, 2011 | 01:36 PM EDT

Home prices aren’t what they used to be. Their steady decline may be causing your anxiety to rise. After all, buying a home is a big commitment.

But even in a down market, how you go about deciding whether to buy a home remains the same. Taking a few practical steps to prepare can make navigating the search for a home and a mortgage easier.

Here are a few tips to consider:

1. Determine how much you can afford.

There are several factors that influence your budget, but an online calculator can be a useful starting point. For instance, the calculator at Bankrate.com can help you work through what you need to consider, http://tinyurl.com/yjgnoxf .

Real estate we…………… continues on CNBC.com
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Credit Scores and Credit Reports 3rd ed: How The System Really Works, What You Can Do (Credit Scores & Credit Reports: How the System Really Works,)
Credit Scores & Credit Reports provides the first thorough examination of the all-important, but little understood, credit scoring…

Checking Accounts that Don’t Require a Credit Check

Checking Accounts that Don’t Require a Credit Check
News from Go Banking Rates:

There was a time when your credit did not dictate whether or not you could obtain a standard checking account. However, over time, more banks and credit unions began requiring customers to good credit in order to open an account.

In the eyes of financial institutions, a good credit score means a customer is reliable and has good money management skills. Unfortunately, this good credit requirement imposed by most banks can’t be met by millions of potential customers. Therefore, they must turn to no credit check bank accounts or other alternatives to manage their banking needs instead.

Bad Credit Versus No Credit When Opening an Account

It’s important to make the distinction between customers who hope to obtain a checking account with bad credit and those who have no credit.

When it c…………… continues on Go Banking Rates
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5 ways to improve your credit score for a lower interest rate
News from Bellingham Herald:

It’s time to improve your credit score, now that a federal report found Floridians have more money to pay down debt, thanks to more overtime, raises and new jobs.

A higher score can help Floridians grab a lower interest rate on loans and credit cards.

T. Rowe Price, an investment management company with a Boca Raton, Fla., office, reported that consumers with high credit scores can save as much as $ 300 a month in a lower house payment on a $ 300,000 30-year, fixed-rate mortgage. That’s because good credit risks are rewarded with a lower interest rate — in some cases more than 1.5 percent less.

Here are five ways to improve your score, according to T. Rowe Price:

Raw video: Did you see that? A shark just jumped over a surfer

Get into a habit of paying down debt. And don’t think you have solved your debt problem by moving it around. Moving balances can …………… continues on Bellingham Herald

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5 ways to improve your credit score for a lower interest rate
News from Sacramento Bee:

It’s time to improve your credit score, now that a federal report found Floridians have more money to pay down debt, thanks to more overtime, raises and new jobs.

A higher score can help Floridians grab a lower interest rate on loans and credit cards.

T. Rowe Price, an investment management company with a Boca Raton, Fla., office, reported that consumers with high credit scores can save as much as $ 300 a month in a lower house payment on a $ 300,000 30-year, fixed-rate mortgage. That’s because good credit risks are rewarded with a lower interest rate — in some cases more than 1.5 percent less.

Here are five ways to improve your score, according to T. Rowe Price:

Raw video: Did you see that? A shark just jumped over a surfer

Get into a habit of paying down debt. And don’t think you have solved your debt problem by moving it around. Moving balances can actually hurt your score.

Make interest payments on time. Lenders like to see a history of …………… continues on Sacramento Bee
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YOUR CREDIT SCORE


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Keeping your credit score healthy
News from Pacific Daily News:
Keeping your credit score healthy | Pacific Daily News | guampdn.com
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M&T Bank offers credit scores for $ 2.99 a month
News from Chicago Daily Herald:

Article posted: 6/26/2011 6:00 AM

By Candice Choi

NEW YORK — Need to check your credit score? Sign on to your bank account. M&T Bank, which has branches primarily on the East Coast, is offering its online banking customers their FICO scores for $ 2.99 a month. Here’s how it works:

The bank says customers with any type of checking or savings account can sign up for the service, as long as they’ve set up online banking. The credit score is updated once a month and is provided by Equifax, one of the three national credit bureaus.

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The score is accessible whenever customers sign on to their accounts online. If there’s a change in the score, customers are told the two main factors that contributed to the fluctuation. The page displaying the FICO score will also have offers to…………… continues on Chicago Daily Herald

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Credit Sesame’s free credit score
News from MSN Money:

This guest post comes from Jonathan at My Money Blog.

Another new website, Credit Sesame, now offers you free credit scores and updates based on your Experian credit report. No credit card required, no trial required. This is not a real FICO score, but an estimate of the FICO formula that uses the same range of 300 to 850. To avoid repeating myself too much, you can learn more about
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Your Credit Score, Your Money & What’s at Stake (Updated Edition): How to Improve the 3-Digit Number that Shapes Your Financial Future

“A great credit score can help you finish rich! Liz Pulliam Weston gives solid, easy-to-understand advice about how to improve your credit fast. Read this book and prosper.” David Bach, bestselling author of The Automatic Millionaire and The Automatic Millionaire Homeowner   “Excellent book! Insightful, well written, and surprisingly interesting. Liz Pulliam Weston has done an outstanding job demystifying an often intimidating and frustrating topic for the benefit of all consumers.

Tips to Make Mortgage Shopping Easier
News from TheDay.com:

Home buyers usually spend months trying to find the perfect house, but the perfect mortgage? Not so much. We get it. Researching a mortgage isn’t as easy or as much fun as say, researching your next car purchase. But there’s a lot more money at stake when it comes financing your home, so it’s time well spent.The first step is to familiarize yourself with the basic mortgage terms you will encounter along the way (take this quick mortgage quiz to start), and then follow these tips:

Plan Ahead – It’s hard to comprehend how a six-figure purchase will fit into your overall budget. Get a reality check by using mortgage calculators to figure out
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A Company Credit Card Can Hurt Your Score
News from Fox Business:

Flashing a company card at a business lunch feels like you’ve finally arrived. It also eliminates the burden of carrying business expenses on your own personal credit card. But corporate credit cards can come with a hidden risk: They can tarnish your credit score.

Companies set up corporate card accounts using their own credit histories and issue cards to employees for business expenses and purchases.

Typically, the company pays for the charges on the credit card. If a payment is late, the card issuer goes after only the company. However, a third of companies that use corporate cards make employees liable for payment, putting their credit at risk, according to a 2009 survey from RPMG Research Corporation.

Who’s Responsible?

With individual liability accounts, the employee holds all responsibility for the charges, even if the company pays the issuer directly. Joint liability …………… continues on Fox Business
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420 Credit Score Ringer T


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Open doors with your FICO credit score
News from CNN:

Flaunt your excellent FICO credit score.

(Money Magazine) — When you’ve got it flaunt it — an excellent credit score, that is. You know all too well the importance of that three-digit number, which lenders use to assess the risk you represent. If your score is in the top tier: 750 or above out of 850 on the FICO scale. (Check yours for $ 20 at myfico.com.) That alone qualifies you for membership in a fairly exclusive club : Only a third of Americans have achieved such a high number.

Obviously, being a member of the credit elite helps you nab the lowest rates on a home or auto loan. But it may surprise you to learn that a high score also entitles you to red-carpet treatment elsewhere. In the long wake of the credit crisis, “businesses are falling all over themselves to attract customers who are low risk,” says Gerri Detweiler of Credit.com. “And they’ll of…………… continues on CNN
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Tips For Scoring Better Credit
News from Patch.com:

With the economy and job market just coming out of a “down” period, a large percentage of the population is concerned and wondering how less-than-perfect credit scores might affect their ability to take advantage of the current buyers’ market in purchasing a home.

In order to know what you need to do to position yourself favorably, you need to understand the different components making up the big picture that is your credit score. Here are the key components, with the percentages that each component contributes to your total credit scoring and a tip on how to improve each one:

  • Payment history contributes 35% to your credit score: Make sure to obtain and analyze your credit report yearly. You can get a free copy of your report once a year. Look to make sure that the information is accurate. If you find errors,

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Next to stop card check which can leave a footprint on your credit score
News from Daily Mail:

By Tara Evans

Last updated at 4:31 PM on 20th June 2011

All change: Next has said it will stop performing credit checks on online shoppers that will leave a mark on credit ratings.

Online retailer Next is to stop performing credit checks on online shoppers after it received a number of complaints from customers.

At present, the retailer performs credit checks on customers before they can buy items online, even if they want to pay by debit card.

Multiple applications for credit are known to have a negative impact on your credit history. Up until now, Next has defended its actions by saying the credit checks were necessary to prevent fraud.

However, Next revealed today that it is planning to change the payment system afte…………… continues on Daily Mail
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Credit Repair and Credit Scoring Education
The Fastest and most cost effective program for improving your credit score anywhere. A whole system of instructions from beginners to advanced level taught by a Certified Credit Scoring Expert.
Credit Repair and Credit Scoring Education