Asking Lenders to Increase Credit Limit to Improve Credit Scores Once a credit card account is opened for a long time and even if it is carrying a zero balance it is my advice to not to close it. Closing a credit card account makes your credit limit to drop which further increases the balance Full Article…
Resolving Unpaid Debt On Credit Report Improves Credit Scores
There are two approaches you can take to resolve the debts that are present on your credit report and which are affecting your credit rating negatively. While credit agencies are the primary organizations that deal with the credit rating and credit history of a consumer, they may or may not have the necessary influence to Full Article…
Tips for Restoring Bad Credit Score To A Healthy One
A bad credit score can result in several disadvantages a consumer. Not only will the consumer have a problem getting credit with a bad FICO score but also face higher interest rate. It is easy to improve your FICO score by following certain steps. While these steps are basic they cannot be called simple. Damaging Full Article…
Items on Your Credit Report That Affect the FICO Credit Score
While the exact calculation and the algorithm used by FICO to calculate the credit score is a well-kept trade secret they have revealed certain information that they use to base the credit score calculation upon. The reason why FICO and other credit scoring organizations withhold their from the for credit score calculation is that they Full Article…
Understanding Your FICO Scores – Are You High or Low Risk Borrower?
The commonest kind of a credit score that is used by the creditors is known as the FICO score. FICO score was developed by fair Isaac and Corporation that was one of the first organizations to work on a credit scoring system. The credit scoring system represents the information present on your credit score as Full Article…
What Is Rapid Rescoring Service – Does It Improve Credit Rating
What are rapid rescoring services and how they can help you repair your credit? Rapid rescoring services came about because it was felt by many consumers that they needed to repair their credit quickly from the damage that is being done due to inactivity information present on the credit report. Many people do not realize Full Article…
Sample Credit Repair Letters
Interest Rate Opt Out – use this template to send letters to your credit card service provider when he increases the interest rate on your credit card. The federal law that has been brought into effect since February 22, 2010 tells all credit card providers to give to their consumers a notice of 45 days Full Article…
Building a Better Credit Score By Using a Credit Card
It is possible for you to build up a good credit score by responsible use of the credit card. In fact credit cards are the easiest and simplest way to build up a good credit history and a good credit score. All you have to do is use a credit card responsibly and he do Full Article…
How to Calculate Your Credit Utilization Ratio
Calculate your credit utilization so that you can improve your credit score. Credit utilization is 30% of your credit score calculation. Calculating it is simple. Knowing your credit utilization will help you stay under 30% of utilization ratio which is best for your credit score. The way to calculate your credit score is as follows: Full Article…
How Credit Mistakes Can Hurt Your FICO Score
The calculation of the FICO score is a complex process. It is hard to predict what the damage on your credit score will be in case you happen to make a credit mistakes such as late payment or defaulting. Different accounts have different information present on them and the result of a credit mistake will Full Article…