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3 Ways to Improve Your Credit Score by 50 Points In Less Than 30 Days
In Less Than 30 Days. By Hartley W. Pinn, Jr, CEO, http://www.AtBalanceCreditRepair.com
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Credit Report Disaster Through Mistaken Identity I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,...heck you may have even been affected by it. I know many of my friends have. Do You Want to Get a New Credit Card at a Great Rate? 1) Do your homework. Applying for and getting approved for a credit card is nothing more than legwork. Credit card contracts can sometimes contain onerous terms that might make you sorry that you signed up for the new card that you did. Read the fine print carefully. If a deal looks to good to be true, it just might be. Credit cards can be a great way to finance your purchases, but make sure it's not at such an expense that you end up paying for a long time afterward. Identity Theft : They Got Him His hard earned money? Gone. Creditors on his back everyday. Police knocking on his door. His family strained to the breaking point. He didn't do anything wrong but my business partner's life got turned upside down a few years back. He became a victim of what is now the fastest growing crime in the world. Identity theft. Errors on Your Credit Report: What You Should Do There are times when you may be turned down for credit and you do not understand why. According to the Fair Credit Reporting Act you are entitled to a free copy of your credit report if you have been denied credit because of negative items on your credit report within 60 days of the request for credit, if you are unemployed but looking for work, are on welfare, or believe that your credit report is incorrect because of fraud. You may also receive a copy of your credit report for a small fee at any time in which you want to review the information contain therein. 0% Credit Cards These days, credit cards in the UK are competing with each other on two very attractive offers with a headline rate of 0%. 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How To Start A Second SEPERATE Credit File! Your personal credit file is separated from those with the same or similar names by several factors, including a driver's license number, birth date, or spouse's name. Although these are three important identifying marks, the number one identifying mark on your credit report is your social security number. Since there is no one else in the United States with your number, your file is easily identified. The chances are very small that the social security office in your area will issue a second number just because somewhere down the road you messed up your credit. However, it is impossible that a second personal file would be created. Taking Control of Your Credit History Your credit history is important; in fact, in this day and age, only family and your time are more important than your credit history! 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By the end of 1996 I was living with my mom, all my credit accounts were severely past due, and I was paying 22% interest on a broke-down green Geo Storm...I was a real loser. Then, in 1997, I became a banker. I didn't know it at the time, but this would turn out to be the break I needed to eliminate my credit problems forever. During my seven years as a banker, I came across several legal and highly effective ways to improve my credit rating. As a result, I was able to increase my credit scores by an average of 170 points. Here's what I did: Step #1: After spending hundreds of dollars on credit repair services that didn't work, I found out how to get negative accounts removed on my own. Basically, I wrote letters to the collection agencies requesting proof that the accounts were mine. 89% of the time they had no proof that the bad accounts belonged to me. So I was able to get them deleted from my credit file. Step #2: I opened new accounts with high credit limits and kept the balances low. I discovered that if you keep your available credit limits high and only use 10% to 30% of the credit you have available, your credit score will improve dramatically. Step #3: Next, I added accounts with years of perfect payment history to my credit file. This step took my credit score from 647 to 762. While you can certainly add seasoned accounts to your credit file for free, there are companies that claim they can do it for a fee. The problem is, they charge between $2,000 and $2,500 per account. If you want a 700+ credit score you'll need 3 to 4 of these accounts. That equates to a cost of $6,000 to $10,000. (You can conduct a search on your favorite search engine for companies that offer this service.) 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The Federal Fair Credit Reporting Act (FCRA) is designated to promote accuracy, fairness, and privacy of information in the files of every "consumer reporting agency" (CRA) or Credit Bureau. Learn what the law says and repair your credit today!
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