How To Boost Your Credit Score (And Other Credit-Scoring Tips)
News from The Mortgage Reports:

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Ultra-low mortgage rates have sped up the housing market’s recovery during the last year, with home sales and home prices both on the rise.

During the third quarter of 2012 alone, $ 521 billion in new mortgages appeared on consumer credit reports, marking the fourth consecutive increase in mortgage originations on a quarter-over-quarter basis.

Activity in the housing market shows no signs of slowing down, with the Mortgage Bankers Association forecasting $ 1.3 trillion in mortgage originations during the coming year.

Purchase originations are projected to reach $ 585 billion during 2013, marking a 16 percent increase over 2012. Meanwhile, refinances are expected to reach $ 785 billion in the coming year.

Between low interest rates and affordable mortgage programs like FHA loans, savvy home buyers should be looking to lock their mortgages bef…………… continues on The Mortgage Reports

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My Big Mouth: If credit agencies are allowed to control our future, at least …
News from Mancunian Matters:

WHAT’S YOUR SCORE? 91% don’t know

Posted Wednesday, December 19, 2012 – 04:41

By Ben Ireland

It is safe to say the average Joe on the street doesn’t know what their credit score is.

A recent MM poll found that 91% of Mancunians were unaware, and many didn’t know what it was.

One in every three credit card applications are turned down because of the applicant’s credit score.

These elusive numbers play a larger role in our lives than most people think and until someone has a problem resulting from it, they generally don’t know what factors contribute.

A number is assigned to all of us that helps dictate whether or not we are a ‘good’ customer to a bank, and assists a decision on a loan, credit card, mortgage or even mobile phone contract.

With credit harder to obtain than ever before, borrowers will certainly need to pay more attention to their credit rating and credit scores, but few even consider their score until it comes back to bite t…………… continues on Mancunian Matters

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Where is My Credit Score, and How Do I Boost It?
News from Fox Business:

Dear Credit Card Adviser,
I recently started a job at a bank. We were able to apply for a credit card through the bank. I’ve never had a credit card, or even a real job for that matter, and I was denied. I’d still like to have a credit card for emergencies. How can I get one? Also, where can I find my credit score (for free, preferably) and learn how to manage it?
— Crystal

Dear Crystal,
These are good questions. It’s important to know your credit score rights. They can help you improve your credit history and get that credit card.

The first thing to do is get a peek at your credit score. You should have received it from your bank for free. It???s one of your newest credit card rights, created last year when the government required all creditors to provide scores to consumers who have been denied credit or received less-than-the-best terms available. Contact your bank if you haven’t received this disclosure.

The credit score disclosure includes key information besides the credit score. It also provides the range of possible scores under the scoring model, up to five key factors that lowered the score, the date the score was created and who provided the score. Look carefully at the factors that hurt your credit score. Improve those, and your credit score will benefit.

You mentioned that you’ve never had a cred…………… continues on Fox Business

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Bad Credit Loans
News from For The People With Low Credit Score Rankings – Twin Cities Indymedia:

Instant loans: Eliminates rapid indebtedness

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The Credit Repair Black Book: Credit Repair Secrets and Strategies the Credit Bureaus Won’t Tell You
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Give lenders what they are looking for: boost your credit rating!
News from The Leader – Wrexham & Flintshire news:

Experian’s Credit Expert offers trustworthy free credit checks to consumers

One of the world’s most trusted information services, Experian, is offering consumers the chance to obtain a secure credit check free of charge from Credit Expert.

In 2012, having an excellent credit score is key to borrowing money from banks – without it, many of us will struggle to buy property or start up small businesses.

Securing a loan or mortgage requires much more than paying your rent on time.  This BBC feature casts further light on what lenders are looking for in a customer.

You can also use Experian to visit a designated credit help centre which can guide you through your report and potential financial future.

James Jones, Head of Consumer Affairs at Experian, notes that an awareness of how credit ratings work will allow you to adjust your own finances to better fit the system, such as updating your personal details on accounts and payments.

Keeping details up to date also helps prevent identity theft and missed payments which can negatively affect your credit; leaving you with more opp…………… continues on The Leader – Wrexham & Flintshire news

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18 tips to boost your credit scores
News from MSN Money:

This post comes from Angela Colley at partner site Money Talks News. 

Much the way your final grade summarized your command of a course in school, your credit scores are the distillation of everything in your credit history. And those three-digit numbers can affect you in many ways, including interest rates you’ll pay and the size of your insurance premiums. 

Fortunately, credit scores aren’t set in stone. In the video below, Stacy Johnson shares his best tips for raising your credit scores. Check it out, then read on for more ways to give your scores a boost.

Now let’s flesh out Stacy’s tips and add more:

Find and dispute mistakes on your credit reports. Order a free copy of your credit reports from AnnualCreditReport.c​om. By law, the three major credit bureaus — Experian, Equifax and TransUnion — have to give you one free copy a year. Then, dispute any errors. They’re not uncommon. A

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Key Tips for Refinancing a Mortgage Released
News from Houston Chronicle:

RoadFish.com men’s lifestyle and finance magazine today encouraged its readers to explore the recently released top tips for refinancing a mortgage, as interest rates on a 30-year-fixed loan bottomed out this week

New York, NY (PRWEB) May 29, 2012

RoadFish.com men’s lifestyle and finance magazine urged readers to seek the advice of expert’s tips if they are considering taking advantage of the 60-year low in mortgage rates by refinancing a home mortgage. SmartMoney.com released four tips for people thinking about refinancing their mortgages, suggestions that are aiming to make the process easier and hopefully save the borrower as much money as possible.

Ruth Simon of SmartMoney.com reported that mort…………… continues on Houston Chronicle

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Girl, Get Your Credit Straight!


Is “retail therapy” your favorite pastime—even though you really can’t afford it? Do you ignore the balance on your credit card statements, vowing to pay them off at some point down the line? Is your debt preventing you from living your dreams—like buying a home or starting a family? If so, girl, it’s time to get your credit straight! These days, with easy access to multiple credit cards and glossy advertisements that entice us to spend at every turn, it’s all too easy to start racking up debt—and even little slip-ups can lead to real damage over time. In this highly practical follow-up to her bestsellers Girl, Get Your Money Straight! and Girl, Make Your Money Grow! , financial expert Glinda Bridgforth delivers a power-packed plan for paying down debt, repairing your credit score, and securing your financial freedom—along with a future that makes your heart sing.Beginning with simple, engaging exercises to help you assess your spending habits and get clear about what you owe, Girl, Get Your Credit Straight! presents a detailed road map for eliminating debt, one step at a time. You will learn how to: • Devise a system for tracking expenditures, anticipating end-of-month shortfalls, and paying bills on time, every time• Find ways to supplement your income• Consolidate loans to pay off debt faster, decrease stress, and save time and money• Negotiate with your creditors to come up with a payment plan that works for you• Discover the best loans to use for refinancing debt or making major new purchases• Understand how credit bureaus work–and take steps to improve your scoreFilled with Bridgforth’s warmhearted wisdom and advice, and complete with worksheets, affirmations, and inspiring stories of African American women who’ve restored their credit and built new wealth, Girl, Get Your Credit Straight! is a fresh, empowering guide for any woman who wants to say goodbye to debt—for good.
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Seven tips to boost your credit score
News from WDBJ7:

Another hidden hole that could sink your score, don’t co-sign for someone if you’re not completely sure they’re dependable. Also, avoid credit card introductory offers, lenders like loyalty and stability.  Be sure to settle any outstanding tax liens and don’t let student loans come back to haunt you.

“A lot of the student loans, the vast majority are backed by the government, and they’re not dealing with those debts, they’re not doing something to resolve the obligation, that’s going to have a huge obligation on their credit score going forward,” says Malissa Giles of Giles & Lambert, P.C.

Tip six is a biggie.  Something as small as a $ 20 parking ticket can impact your credit score.

“Cities are under more pressure to collect debts and so one of the main revenues for some places, and they have these outsourced to different companies,” says Tracy Giles

Rounding out the seven tips, if you check out a book from the library, return it.  Again, if your hometown library is aggressive about late fees, they could be turned over to a collection agency and that could come back to haunt you.

…………… continues on WDBJ7
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Poll shows we’re eager to boost our credit scores
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6 Surprising Ways to Boost Your Credit Score
News from Chicago Tribune:

Raise your FICO score with these lesser-known tips

Your credit score is an all-powerful number, capable of determining whether you get that new loan, car, or apartment. Banks use your credit score to determine your credit risk–the higher the score, the lower the risk and the more appealing you look on paper, which can give you better interest rates on loans. Even job applicants can have their credit scores pulled by employers, as a means of determining if they’ll be a risky hire for the company.

And now it is arguably more important to have a great credit score, since banks have been forced to write off record levels of credit card debt and are requiring borrowers to have higher credit scores. “Because of the recession, a lot of issuers are closely scrutinizing your credit score,” says Bill Hardekopf, a credit expert from LowCards.com. Now, a FICO score in the mid- to high-700s is considered a great credit score, according to Hardekopf.

To land yourself in that credit-friendly range, consider these six surprising ways to boost your credit score:

Vet your credit report for errors. It may sound hard to believe, but Hardek…………… continues on Chicago Tribune

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Qualifying without perfect credit: Steps you can take to make your score stronger
News from CultureMap Austin:

Most of us don’t have perfect credit. Fortunately it doesn’t take perfect credit to qualify for a mortgage. This week we’re going to look at factors that affect your credit score and how negative items on your credit report can affect your credit score.

Your credit score is a statistical calculation designed to reflect your likelihood to repay your debts. The developers of the FICO score haven’t revealed the exact formula used to compute the score, but they have identified factors that affect your score. They also have provided the relative weights of these factors:

35%: Whether you pay your bills on time
30%: How much of your available credit you are using (“credit utilization”)
15%: Age of your credit accounts
10%: Types of credit used
10%: Recent credit inquiries

Based on the list above, you can see that the most influential factor is paying your bills on time. The FICO creators performed a simulation last year to determine the effect of “failure to pay” on a credit score. While the effect depends on one’s starting score, the simulation showed that paying your mortgage 30 days late can drop your score between 80 and 110 poin…………… continues on CultureMap Austin

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6 Surprising Ways to Boost Your Credit Score
News from U.S. News & World Report:

Your credit score is an all-powerful number, capable of determining whether you get that new loan, car, or apartment. Banks use your credit score to determine your credit risk—the higher the score, the lower the risk and the more appealing you look on paper, which can give you better interest rates on loans. Even job applicants can have their credit scores pulled by employers, as a means of determining if they’ll be a risky hire for the company.

And now it is arguably more important to have a great credit score, since banks have been forced to write off record levels of credit card debt and are requiring borrowers to have higher credit scores. “Because of the recession, a lot of issuers are closely scrutinizing your credit score,” says Bill Hardekopf, a credit expert from LowCards.com. Now, a FICO score in the mid- to high-700s is considered a great credit score, according to Hardekopf.

To land yourself in that credit-friendly range, consider these six surprising ways to boost your credit score:

Vet your credit report for errors. It may sound hard to believe, but Hardekopf says one…………… continues on U.S. News & World Report

… Read the full article
.

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Did you promise to boost your credit score in 2012? These 3 steps can get you …
News from The Republic:

NEW YORK — You didn’t get into a credit mess overnight, so don’t expect to get out of it quickly.

Although it will take time to bring your credit score up, don’t let that deter you from getting started on your New Year’s resolution. You won’t vault from the depths to the top of the heap in a few months, but you can make significant gains. Making the effort should help you get your overall finances in order.

Credit scores are an integral part of everyone’s financial life, yet the ratings remain a mystery to many. Nearly 60 percent of respondents to a Visa Inc. survey last year incorrectly believed that employment history was factored into scores, and almost 59 percent mistakenly thought the interest rates on their current debts played a role.

Those elements are important when it comes to the ability to pay debt, but are not part of a credit score. Neither are other factors like race, age or gender.

The most commonly used scoring system is produced by FICO Inc., and uses a range between 300 and 850. One individual can have several FICO scores. That’s because the company creates a separate mathematical formula for scoring various types of lending, like mortgages, credit cards and auto loans — as well as other financial transactions, such as insurance. All FICO scores weigh factors like payment history, amounts owed, lengt…………… continues on The Republic

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Soft checks for loans and credit cards: Avoid damaging your credit score
News from This is Money:

By Tara Evans

Last updated at 11:21 AM on 19th January 2012

Some comparison websites and lenders are offering customers ‘soft’ credit searches when applying for loans and credit cards. These promise to not leave a footprint on your credit rating – but how do they work? And are they reliable?

Whenever you make an application for a credit card or loan it leaves a mark on your credit score.

Applications typically make up about 10 per cent of your credit score – so making a large number of applications can have a negative impact on your rating.

Assured: Multiple applications for credit can damage your score – we explain how new ‘soft’ checks help you find the most suitable product.

James Jones of credit reference agency Experian says: ‘Every application that is made leaves a footprint on your credit report. If you’re making a lot of applications in a short space of time then this can have a negative impact on your score.’

However, some comparison sites and lenders have introduced a ‘soft’ check feature to give customers an indication if they’re likely to get accepted for a product.

The majority of fi…………… continues on This is Money

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5 Lesser-Known Ways to Boost Your Credit Score
News from DailyFinance:

If you think your credit score doesn’t matter too much because you’re not planning on getting a mortgage anytime soon, think again. Credit scores affect many aspects of our lives — more than you may think. That’s why it’s important to keep your score as high as possible.

Paying bills on time and staying well below your credit limits are sure-fire ways to build and maintain good credit. But there are some lesser-known strategies to boost your score as well.

Fix clerical errors: Check your credit reports and correct errors. For example, it can make a big difference to your score if your credit limit for a card is understated. Imagine that you owe $ 5,000 and your limit is $ 15,000. That means you owe 33% of your limit. If your limit is incorrectly listed as $ 8,000, though, it will look like you’ve borrowed 63% of your limit. continues on DailyFinance

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Bargain for better loan terms with good credit score
News from Economic Times:

By Harshala Chandorkar (Senior V-P – Consumer Relations, CIBIL)

In today’s fast paced economy where there is intense competition among brands and services for the consumer’s attention and business, deriving the best value for your money is imperative.

Be it goods or services like insurance, telecom or banking, we now have multiple options to choose from based on our requirements.

Take for instance the credit sector where we now have several banks and financial institutions keen to provide loans and credit cards to disciplined consumers who have a healthy credit history.

Today, almost all the banks and lending institutions check the credit score and credit information report (CIR) of an applicant before approving loan applications.

A consumer’s credit score has today be…………… continues on Economic Times

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The Road to 850 (Proven Strategies for Increasing Your Credit Score)
This is one book you must have! As a result of the credit crisis, many financial institutions have raised their credit score requi…
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