Archive for the ‘Credit’ Category
Credit Rating Scores
February 12th, 2010 | 
Author: There is no reason beating around the bush when it comes to credit rating scores.
The problem I find with most people who give others advice on their finances is they are too nice. Well I am here to tell you that nice doesn’t pay the bills.
I have learned you need to be blunt and to the point no matter how it feels for the person you are talking to when it comes to their credit rating scores.
I know we live in a very tough economy and I know over the last couple of years things have become very difficult. The problem is when things took a drastic turn for the worse so many people didn’t compensate for things.
People continued to spend the same way as when things were great. In turn for many people it bit them in the butt and now they are looking for ways out.
The good news is there are still ways to save yourself but the bad news is it is going to be a lot tougher then if you would have planned for it when things started getting tough.
I guess the first thing you are going to have to do if you want to build your credit rating scores is first start believing in yourself. You need to sit down and take a long hard look at yourself and tell yourself that no matter how hard things get you are going to get through them.
Posted in Credit, Finance | 
Tags: Credit, Credit Rating, Credit Rating Scores, Finance | 
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Avoid credit card traps
If you’re like most Americans, offers for credit cards arrive in your mail on a daily basis. Why are credit card companies so eager for your business? There are many reasons.
Credit cards, for one thing, are not free cash. Funny enough, many customers think of them this way, and that—aha!—is how credit card companies make their money.
You’ll notice when you read through the fine print about credit cards that there are varying APRs, or annual percentage rates. This refers to the amount of interest you’ll pay on credit card charges if you don’t pay your monthly balance in full. Think about the last time you went shopping. Did you look at the tags and make sure everything you bought could be paid with your monthly paycheck? If not, you are a credit card company’s dream come true. You see, these companies bank on the chance that consumers will use their credit cards to buy more than they can actually afford at the time of purchase. When the bill comes and it can’t be paid in full, the customer pays interest on this borrowed amount, and that interest accrues daily. This money goes right into the credit card company’s bank account. With thousands of customers falling into this predicament on a monthly basis, you can see where the companies get rich quick.