레이블이 Credit Advice for College Students인 게시물을 표시합니다. 모든 게시물 표시
레이블이 Credit Advice for College Students인 게시물을 표시합니다. 모든 게시물 표시

2013년 11월 30일 토요일

About 'credit advice'|Credit Card Advice From An Insider







About 'credit advice'|Credit Card Advice From An Insider








               Unfortunately,               many               people               fall               into               credit               problems               not               because               they               are               irresponsible               but               because               they               listen               to               the               so-called               "facts"               that               they               hear               from               relatives,               neighbors,               colleagues               and               friends.

When               a               car               mechanic               is               giving               your               advice               about               credit,               it               might               be               best               to               check               the               facts               before               making               any               decisions,               especially               ones               that               can               affect               your               entire               future.

Misinformation               spreads               just               as               fast               as               good               information,               so               you               should               be               sure               that               you've               received               accurate               advice               before               going               any               further.

Following               are               the               top               five               credit               misconceptions               that               many               people               believe.
               Credit               Misconception               #1:               Your               Credit               Score               Drops               When               You               Check               Your               Own               Credit
               There               are               two               different               types               of               credit               checks:               soft               inquiries               and               hard               inquiries.

When               you               check               your               own               credit               -               such               as               ordering               a               credit               report               from               one               of               the               credit               bureaus               -               it               qualifies               as               a               soft               inquiry               and               does               no               damage               to               your               credit               score.

When               creditors               and               lenders               -               such               as               credit               card               companies               and               mortgage               lenders               -               check               your               credit,               it               is               a               hard               inquiry,               and               will               damage               your               credit               score               if               too               many               are               conducted.

The               reason?

Multiple               inquiries               produces               a               red               flag               for               lenders               because               it               demonstrates               irresponsible               credit               behavior.

Checking               your               own               credit               score               is               a               matter               of               personal               knowledge,               and               doesn't               do               you               any               harm.
               Credit               Misconception               #2:               It               is               Best               to               Close               Old               or               Inactive               Accounts
               Many               people,               when               they               order               a               credit               report,               discover               that               accounts               they               opened               twenty               years               ago               are               still               open               even               though               they               no               longer               use               the               credit               card.

In               an               effort               to               "clean               up"               their               credit               report,               they               close               those               accounts,               which               can               actually               harm               your               credit               score.

Your               credit               score               is               calculated               by               a               complex               algorithm               that               takes               into               consideration               many               points,               including               the               length               of               your               credit               history.

When               you               close               old               accounts,               it               shortens               your               credit               history,               and               may               keep               you               from               acquiring               loans               or               lines               of               credit               in               the               future.

If               you               want               to               get               rid               of               a               few               accounts,               start               with               the               newer               ones               first.
               Credit               Misconception               #3:               Paying               Off               a               Delinquency               Removes               it               From               Your               Credit               Report
               Unfortunately,               this               is               not               true.

As               soon               as               an               account               goes               into               collections               or               is               unpaid               by               the               borrower,               it               is               marked               on               the               credit               report               as               such,               and               will               remain               for               at               least               seven               years.

If               you               pay               off               the               delinquency,               the               creditor               is               required               to               mark               the               account               as               "paid",               but               it               will               not               be               removed               from               your               credit               report.

While               having               a               "paid"               delinquency               is               better               than               having               one               which               isn't,               you               should               still               know               that               future               creditors               will               see               the               delinquency               on               your               credit               report.
               Credit               Misconception               #4:               Co-Signing               for               a               Loan               or               Account               Does               Not               Initiate               Responsibility
               It               is               almost               never               a               good               idea               to               co-sign               on               a               loan               or               to               become               an               authorized               user               of               a               credit               card.

When               your               name               goes               on               an               account               or               loan,               you               take               financial               responsibility               for               whatever               money               is               borrowed               or               used.

This               means               that               if               the               principle               on               the               account               fails               to               pay,               you               must               make               the               payment               for               them               or               your               credit               score               will               suffer               just               as               much               as               the               other               person.

Unfair?

Certainly!

That's               why               you               should               be               careful               about               signing               your               name               to               applications.
               Credit               Misconception               #5:               Paying               Off               a               Debt               will               Add               "X"               Points               to               Your               Credit               Score
               As               mentioned               above,               credit               scores               are               not               simple               calculations               and               it               is               impossible               to               determine               how               many               points               by               which               your               credit               score               will               increase               when               you               pay               off               a               debt.

I've               heard               different               numbers               where               this               is               concerned               -               50,               75,               even               100               -               but               none               of               them               are               true.

While               paying               off               a               debt               will               improve               your               credit               score,               the               exact               amount               will               depend               on               many               different               factors.
               Check               out               CP               Rachel               Pickett's               article:               The               Importance               of               Having               Good               Credit.






Image of credit advice






credit advice
credit advice


credit advice Image 1


credit advice
credit advice


credit advice Image 2


credit advice
credit advice


credit advice Image 3


credit advice
credit advice


credit advice Image 4


credit advice
credit advice


credit advice Image 5


  • Related blog with credit advice





    1. stwildonroleplaying.blogspot.com/   04/11/2013
      ...it's worth looking to videogames for advice, here's a list of links from the Extra Credits guys that can be useful for Games ...
    2. ghgemissionstrading.wordpress.com/   03/08/2012
      ... in New Zealand targeting potentially incomplete or misleading advice given on carbon credits by real estate agents http://tvnz.co.nz/fair-go/carbon-copy-video-4738017 Unfortunately...
    3. boardingarea.com/blogs/viewfromthewing/   01/19/2012
      Advice on Choosing the Best Credit Card 2012 Credit Card Spending Strategy...s Amazing Travel Benefits Credit Card Churning: Making the Most...
    4. artists-beware.livejournal.com/   07/04/2011
      ...artist-somethingforeveryone/michael shor , beware Need advice/credit card fraud beware! This is both a... taken out of my credit card account with his business as the recipient...
    5. creditmama.blogspot.com/   06/26/2008
      ...two largest credit card companies...customer service. This advice is just one friend...Read #1. One neat trick credit card companies...can? One final word of advice. Try not to sign up...
    6. boardingarea.com/blogs/viewfromthewing/   06/18/2011
      ...this month is all about credit cards. While it draws heavily on my advice, Wendy does a great job...travel, most pieces on credit cards for instance...
    7. credit.typepad.com/   01/31/2006
      ...Sentinel's readers offer advice on how to control credit card debt. There's practical, sensible...book until you get it and use its advice to improve your credit. It's nonsense. I'm no lawyer...
    8. credit.typepad.com/   01/31/2006
      ...recently ran this "Reader to reader" article wherein the Sentinel's readers offer advice on how to control credit card debt. There's practical, sensible advice here that industry professionals like...
    9. subfivemiler.wordpress.com/   11/21/2008
      ... people who are sick of the “to get out of credit card debt, you need to pay it off”, here is some real advice. The main issue is likely the interest rates...
    10. guarantorloansuk.wordpress.com/   10/29/2009
      Advice on poor credit loans At last the financial industry is... going to have a great or even a good credit score. As the expectations lower, a...
    11. Credit Advice - Blog Homepage Results

      Find the best credit cards with our comparison tools. We provide the latest news and advice about personal finance so you can find the right card for you.
      Credit Help from a Credit Counselor



    Related Video with credit advice







    credit advice Video 1








    credit advice Video 2








    credit advice Video 3




    credit advice