Credit Score

15 Blog Posts with Tips for Building Credit

by CreditScore.net Staff Writer on September 22, 2011

Credit ratings can be a difficult thing to understand and many people don’t bother taking the time to learn about how it works. Everyone knows that having bad credit can cause many problems if you want to buy a home, or a new car, or just to get a credit card in case it is needed for emergencies. Having no credit can be just as bad, but it is also much easier to fix. There are many people that never had a credit card, never bought a home, and never bought a new car or anything that involved their credit rating. In this situation the individual probably has no credit rating, which will also cause problems when trying to make a big purchase. There are many simple ways to build your credit up if this is the case, and usually just doing something small will get your credit score up. Here are 15 blog posts that discuss ways you can boost your credit score from nothing into the 500-600 range fairly quickly.

How To Build Good Credit and Clean Up Bad Credit – Here is a post with some nice tips to help you build credit if you have none and also tips on cleaning up bad credit.
How to Build Credit or Repair Credit – This is another post with even more tips to help you get that credit score up, it is much easier to build it from having no credit than it is to repair bad credit, but these tips can help out a lot.
How to Raise Your Credit Score Fast – This post offers some tips that are sure to help you raise your credit score very quickly, sometimes quicker is better, especially in cases such as trying to get a new car or buy a house.
List of Prepaid Credit Cards That Build Credit – This is a very handy post, a nice list of pre paid cards that can help you build your credit. This can make building your credit so much easier, definitely a must read blog post!
Building Your FICO Score – Even more tips to build your credit score, you may see some of the same tips on some of these posts but you will also find some new ones in the process since there are many things you can do to get that score up.
Ways To Increase and Improve Your Credit Score Without a Credit Card – If you need to build your credit score but do not want to deal with credit cards there are ways to do it, this post can give you some ideas on how to go about this.
Bad Credit Loans, Debt Help, and Advice to Improve Credit – Yet another great post that can help you deal with your bad credit and ways you can improve it, this post goes into detail about credit scores and much more.
How to Build Your Credit History with Tradelines – The key to building your credit history and getting it as high as possible is very simple: act responsibly with credit.
The Truth About Your Credit Score – The dreaded FICO score. It’s that number that’s associated with every credit report. We all know about it—most people have one—but what does the credit score really mean?
15 Ways to Establish and Improve Your Credit History and FICO Score – Do you need to improve your credit history? If you’re like the majority of Americans, the answer is yes. According to FICO, 60% of all people have a credit score less than 750. This means there is plenty of room for improvement for many people.
How to Season Your Credit – Opening and maintaining new accounts that report to the credit bureaus is key to building a solid credit rating. There are many different types of accounts that you can be approved for even if you have a poor credit rating.
How College Students Can Build Credit History – This is a good article for college students to read as it discusses ways they can build credit during their college years.
Personal Finance 101: Building Good Credit History – You should know the importance of having a good credit history by now, if not here is another post that discusses it’s important and a couple more tips to help out and will help ensure you know what to do and you do not forget! The site also has a lot of other great financial information for you to browse.
Building a Strong Credit Report Record After High School – Another nice little guide for students graduating high school and entering college or the work force.
Tips on Building Credit for a New Corporate Business With No Credit – This is a great post for new small business owners that has tips for building credit as a business.

Image Credits: mlinksva

Categories: Advice

15 Informative Blog Posts About Credit and Credit Cards

by CreditScore.net Staff Writer on August 31, 2011

Millions of people are struggling with bad or no credit, and many do not know how to get their credit back on track. There is a lot of great information that can be found to help you repair your credit yourself and there are also many companies that can assist you in getting your credit back on track. With the current economy more and more people are developing bad habits with credit cards and loans to help them get through tough times. With so many people going that route just to get by a large percentage of them are eventually going to find themselves deep in debt with no way out in sight. Here is a collection of 15 blogs that offer great information that can help you through the tough times. We have many great resources on our site to help you out, and within these 15 blogs you can find more excellent information. Some of these will offer some of the same info but they all have different tips and advice as well.

What is Credit? Understanding How Credit Works – This is a nice simple breakdown all about credit and how it works, from this article there are some other links that are also informative and helpful to the everyday person who wants to understand the ins and outs of the credit industry.
Understanding Credit-Card Fees, Part 1: The Basics – Millions of people have credit cards but many of them do not have a clue about how credit card fees work. This post discusses how fees work in layman’s terms, so if you want to know more about credit card fees this is a great post to read.
How to repair your credit report yourself – This post has some good info on repairing your credit on your own rather than hiring a company to do it for you. It is much easier than you think; it just takes some patience and discipline with your finances.
Rebuilding Credit Rating: DIY vs. Credit Repair programs – If you have a credit card, you should know how important it is to maintain a good credit standing. If you have an exceptional or at least good credit history, it will affect your financial status and how credit companies or other financial institutions regard you.
5 Common Credit Score Myths – This is a nice post discussing common credit score misconceptions and myths. What you thought was true may not be, so do your research and find out all about how credit works and it will help you get your credit back on track.
6 Steps to an Improved Credit History and Score – Here are 6 steps that can help you get your credit back on track and after going through all of this just to improve your credit you will most likely learn your lesson and be more careful in the future.
Ways to Rapidly Thoroughly clean Your Credit Track Record – Here is another post that discusses ways to thoroughly clean your credit score and get yourself financially stable once again, this is something you have to do if you have poor credit and want to buy a car, house, or any other expensive items you need a loan for.
How Credit Works – Here is a nice and simple breakdown of how credit works, this is excellent because they lay it all out in easy to understand terms.
Americans Earn a `D’ on Understanding How Credit Scores Work – A survey that was done goes to show that most Americans do not understand how credit scores work, hopefully this list of blog posts will help some people get a better understanding of the process.
Understanding How Credit Card Travel Rewards Work – There are many people that take advantage of credit card travel points as well as other types of cards where you get something in return for using the card. This post explains how travel points earned through certain cards work. This site is loaded with all kinds of other good info on credit as well.
Understanding How Credit Reporting Works – Credit is much more complicated than keeping a tally at the local grocery. As a credit-active consumer, you need to know how credit reporting works and what your credit report contains.
Money Management & Credit Cards Explained – Another post discussing money management and credit cards and how they work. Thus is another site with a lot of good information on money management and savings.
Basic Money & Credit Management Concepts Simply Explained – Here are a whole bunch of excellent tips regarding credit and money management. These are some great tips to follow and they will definitely keep your credit in good standing as well as keep you on track with money management.
What is APR? – This is a term you see all the time when it comes to credit cards and loans of all types, but there are many people that have no clue what APR even stands for. Here is an explanation of what it is for anyone who may not know.
How Credit Scores Are Calculated – Credit scores are based on the information in your credit report, and each bureau has its own formula for calculating your score. In addition, each lender may have its own proprietary formula for calculating a score.

Image Credits: Images_of_Money

Categories: Credit Cards

Your Insurance Company Wants to Know Your Credit Score

by Miranda Marquit on February 8, 2011

One of the things I notice when I look over my auto insurance policy papers is that there is a little discount in there for my credit score. Since I have good credit, my insurance premium is a little lower than it might otherwise be. If my credit score were to drop, though, I would soon see an increase in my insurance policy premiums. This is because insurance companies are increasingly interested in the way you conduct your financial affairs. Connections are being made between the state of your credit report, and the likelihood that you will get in a car accident.

Poor Credit = Poor Driving Habits?

One of the reasons that auto insurance companies are interested in looking at your credit score is that there is a belief that those who behave irresponsibly with their money may behave irresponsibly behind the wheel of a car. If you have poor credit, insurance companies think, perhaps you will have poor driving habits.

The idea that one’s credit score is an indication of responsibility in other areas of life — especially when money is on the line — is one that is gaining a degree of acceptance. In some cases, your character is being judged by what is in your credit report. If it results in a poor score, many financial service providers (including auto insurance companies) assume that you are generally irresponsible.

What About Extenuating Circumstances?

Critics of the practice of using credit scores to help set auto insurance premiums point out that one’s whole life, and his or her driving habits, can’t really be reduced to a single number. Indeed, just looking at a credit score may not tell the whole story. It doesn’t include unexpected financial setbacks, such as medical bills, and other problems.

Some auto insurers may allow you to explain your poor credit score, allowing you to explain that you are generally responsible, but that something unexpected happened. The information contained in your credit report might be of help in these instances. However, you still might find yourself paying a higher premium, due to your credit score.

Improving Your Credit Score

If you want to reduce your auto insurance premiums, you can improve your credit score. This takes some planning and work, though, and can’t be done over night. You will need to improve your payment history, making sure that all of your bills are paid on time and that you pay the full amount required. Additionally, you should work on paying down your debt, and avoid opening new credit accounts.

With some proper planning, you can begin to see some marked improvement in your credit score within 60 to 90 days. Once you have improved your credit score, you can ask your auto insurance agent about getting a discount for having better credit.

Even though it might not be fair to judge your driving habits based on your credit score, the fact of the matter is that many auto insurance companies do look at your score when setting premiums. If you want to save as much as possible on your auto insurance premiums, you will need to do what you can to improve your credit score.

Categories: Credit Score

Truly Free Credit Scores From Lenders

by Miranda Marquit on February 3, 2011

Every year, you are entitled to a free credit report from each of the free credit bureaus. By going to www.annualcreditreport.com, it is possible for you to get access to a credit report from each of the bureaus. This is important, since what is in your credit report can affect your credit score. If you want to keep a good credit score, part of it is making sure that information in your report is accurate. However, you have to realize that, although you are entitled to a free credit report, you are not entitled to a free credit score.

Image source: Tene via Wikimedia Commons

Why Were You Turned Down for Credit?

Additionally, whenever an “adverse action” takes place due to your credit, the lender is required to let you know what information was used, and you can get a free credit report from the bureau that provided the information. But, that still doesn’t let you know what credit score was used to deny you credit (or give you a higher interest rate). That is about to change, though, when July 21, 2011 rolls around. That’s when a provision in the financial reform bill passed last year takes place.

Final Credit Score Factors: Types of Credit and New Credit

by Miranda Marquit on January 27, 2011

We’ve been looking a little more closely at the factors that make up a credit score recently. So far, we’ve addressed the following:

Together, these three factors account for 80% of your FICO score. The final 20% of your score consists of two different factors, weighed at 10% each: types of credit you have right now and new credit accounts. Even though these factors aren’t weighed as heavily when figuring your credit score, they are still worth paying attention to.