How Bad is a Credit Score of 600

January 31st, 2014 by admin

A credit score of 600 isn’t that bad, but it’s definitely not good, either. Most people have credit scores somewhere between six hundred and seven hundred and fifty, although the scale actually ranges from about three hundred and fifty to eight hundred and fifty. It is very unusual for someone to have a rating on either end of that full range, however.

The higher your credit rating is, the easier it will make your life. With a good credit rating it should be easy to get approved for everything from car insurance to a mortgage, and, the better your credit rating is the better the interest rate you will be offered will be. Of course it is not exactly that simple – you will still need to have a good income and meet any other qualifications they lay out for you on your application, but a good credit score is usually what keeps people from doing what they want to do with their finances.

With a rating this low, you will often be asked to put down a deposit on accounts before getting approval, companies will not be very flexible when you ask for different payment terms or any other kind of special consideration, and you will be offered the highest interest rates that companies have to offer which will cost you a lot of money over the course of your life.

Now, a credit score of six hundred is not that bad as far as bad credit scores go. This is basically as low as you can go and still get approval for a lot of traditional accounts. However, you will still be turned down for a lot of things, and definitely could not get something like a home loan, and will be offered very high interest rates. If you are wondering what your goal should be then for your credit rating, you ideally want to have a rating over seven hundred, and a score of seven hundred and thirty is really the goal you are aiming for.

So, a rating of six hundred is not the worst possible, but it’s still very low and will make your life very difficult, a lot harder than it needs to be.

While a rating of six hundred is pretty low on the credit score scale, there is nothing holding you back from improving. You can easily rebuild credit rating over time with a little effort.

credit score??? what is it?

so.. eayh.. it might sound stupid.. but what is credit score?

Well the official definition is what FACTA defines a “credit score” as:
A numerical value or categorization derived from a statistical tool or modeling system used by a person who makes or arranges a loan to predict the likelihood of certain credit behaviors, including default (and the numerical value or the categorization derived from such analysis may also be referred to as a “risk predictor” or “risk score” (FCRA §609(f)(2))

In simple terms it means a higher score = lower APR and easy credit.

Hope this answers your question.

Do You Have Bad Credit What Will Work For You Among the Credit Cards Offered

January 31st, 2014 by admin

Don’t let bad credit stop you from getting and using a credit card.  Even if your credit rating has gone bad the last few months and you badly need a credit card, there are still companies who are willing to extend credit card offers to you.  It’s only a matter of finding what the different offers are and knowing the risks and benefits of each choice.  Here are four kinds of credit cards you can use even with bad credit:

Unsecured credit card
This is often referred to as the ‘bad credit’ credit card, so named because it is only issued to people with bad credit.  An unsecured bad credit card will still allow you to transact as usual, but there is a downside to it.  

Bad credit cards, thanks to your less-than-perfect credit rating, will charge higher fees compared to other types of credit cards.  This is probably the only credit card that will charge you as much as $150 in annual fees alone.  Interest rates are also higher, sometimes as much as 20%.  Banks and credit card companies also charge higher application fees.  If you want this card, make sure you can handle the payments.  If not, you’ll be in danger of getting yourself deeper into bad credit.

Catalog credit card
These are cards that are offered by many online shops and stores to encourage you to buy from them.  Usually, a catalog credit card may only be used in a particular merchant store.  All your payments will be reported to a credit bureau and you’ll also be given a credit line, the amount of which will depend on the issuing company and on how well you can meet their requirements.  

These companies will not charge you an interest rate on any of the purchases you make.  However, they will require that you pay a higher installment or minimum monthly balance.

Prepaid credit card
This type of credit card is perfect for your bad credit, in that it can help you limit your spending.  It’s also easy to apply and get approval for, provided you have enough funds for the application and processing fees and the maintenance fees (usually monthly).  These cards will not help you rebuild your credit but they will help you live within your means.  Choose one that has the lowest fees and cost.

Secured credit card
A secured credit card is called that way because you will need to make a deposit with the bank who issues it in order to get one.  Depending on the bank, you can sometimes get a credit limit worth as much as 100% of your deposited funds.  This type of credit card is effective for limiting your purchases.  Better yet, you’ll be using your own money and your deposit will earn interest.

You might think that secured credit cards totally defeat the purpose of a credit card and you’re probably right.  However, don’t cross them out yet.  Secured credit cards are a great way to rebuild your credit and still allow you to participate in cashless transactions.  After all, you don’t want to remain in bad credit forever, right?

So which credit card should you choose when you have bad credit?  That depends on what you want to do.  If you want to rebuild your credit, get an unsecured credit card that offers a good interest rate, low annual fees and no application fees.  It’s also important that it reports to a major credit bureau.  All your payments will be recorded and if you’re never delinquent, you can gradually rebuild your credit over time.

If you only want a credit card that will tide you over for some temporary need, go for a prepaid or a secured credit card.  As long as you can handle the monthly payments, these credit cards should help you get back on your feet once again.

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Prepaid Credit Cards?

do you know which prepaid credit card i could use? Do you know what I need to bring. Like what info? Which card uses the least info?

Though prepaid credit cards are accepted at any regular retailer that carries the credit card logo, they are not a ‘credit’ card in the normal terms, since the issuer does not extend you any credit facility. Instead your spending limit depends on the amount of money you carry on the credit card at any point of time.

After the amount on the card is exhausted, you can either purchase another prepaid credit card or opt to transfer money to another card you hold, based on the nature of the card program. Though prepaid credit cards resemble debit credit cards a lot, the two are vastly different.

Why a Good Credit Score is Important

January 31st, 2014 by admin

With the cost of everything on today’s market, it has become so easy to fall into debt. Unfortunately, this often compounds itself and before you realize it, you end up with owing so much that you do not know which way to turn.

It all starts when you become late with payments on accounts or credit cards, using one credit card to put a payment on another one, keeping payments rolling from one card to another, the ‘Roll-over’ system. All very well until you reach maximum limits and the total credit limits on the cards are exhausted; then you have zero interest balance transfer. The worst part, is that your credit rating is about to suffer badly. With a poor credit rating, finding more money is not going to be an easy task. By paying late or neglecting to pay anything on what you owe, you put yourself in a disastrous situation!

The relevance of your credit score

Credit Bureaux rate your worthiness for credit between the numbers 300 – 850, with 300 being the least credit worthy. When applying for new accounts or a mortgage, this credit rating is what the banks will look at before granting the loans. In other words, they look into how much debt you have at the time that you apply. They will have a look as to how you pay off these debts per month. Are you paying the minimum or paying in a little extra. With a balance transfer on your account, the chances are more likely for your applications to be successful.

Ways of sound financial management

To minimize debt, there are factors to which you should adhere to:

(a) Pay extra per month than the minimum that is required

(b) Never default on a payment

(c) Negotiate a new payment plan

(d) Cut up your credit cards, their existence is not doing you any favors.

(e) Learn to pay ‘cash only’ by using a debit card

Is a loan better than a credit card?

It is far better to take out a personal loan at a reasonable interest, than to have to pay the exorbitant interest that credit cards charge. With a personal loan, you are likely to be able to clear your debts and maybe have a balance transfer in your account. You will certainly have more ready cash as you will not be paying those high interest charges. Once you are debt free, rely only on using your debit card. This way you are only spending money that you have put in to your bank account. This will also make you more aware of what you are buying and enable you to manage your finances to your advantage.

Be prudent with credit cards

Instead of building up bad credit, do try to consolidate and bring it down to a manageable amount for the monthly payments with a zero interest balance transfer. If owning credit cards makes you feel mores secure, make sure that you do not have more than two. This way you will be able to have a good control of spending, and even manage to have a balance transfer in the account.

There is no doubt about the fact about the fact that credit score range is responsible for determining the financial status of a person. The fact remains the person will get the best offers provided he has a good credit rating. When the credit rating is good, all the things automatically come in place. It can be any problem related to the loan and finances.

If the person wants to go for the top ones, it is better for him to make a comparison of the credit cards of various companies. One has to follow the rules also if there is a real problem of the debt issue in the credit cards. For this, the credit card balance transfer is one of the good ways to solve the problem. This will consolidate the credit card debt and remove the financial burden from the sores of the individual. It is better if the person seeks the expert advice before taking the step. The fact remains thee is a good competition between various credit card companies and because of this, the customer is benefitted.

To stay abreast of all the latest credit card offers news, find valuable credit management advice and all the latest credit card deals visit

Credit scores?

Does anyone know why when you order your own credit report from Experian, Equifax, Transunion, scores always differ (they are higher)to those ordered by mortgage companies and auto dilerships? I know they typically use Tribureaus repaort but still scores should be the same. I pulled mine but the service that I use and it showed 740, but the same bureau reported to my lender 784? Any ideas?
sorry , meant to say that scores are always lower when you get your own report, not higher.

Because you are purcahsing them from a reseller which has nothing to do with FICO (Fair Isaac & Company) scoring model.

There are roughly 900 different resellers and al;l the scores are different.

True FICO scores that mortgage companies use are calculated by FICO (also known as beacon for TransUnion, Empirica for Equifax and Fair Isaac risk model for Experian)

There is a new score (announced in March 2006) called the Vantage Score that will be taking over all three of the above referenced names for FICO and will range from 501-990

Also there is a new bureau called Innovis that essencially forced the other bureaus to develop the Vantage Score.

Here is a goos resource on FICO scores, read it!

5 Easy Tips for to Save Money on Credit Card Balance Transfers

January 31st, 2014 by admin

In today’s financial market more and more people are turning to credit card balance transfers instead of the traditional home equity lines that they have been used in the past. During the refinance hay-day throwing a tax deductible line of credit on the home to wipe out the credit cards was a no-brainer. Nowadays, shrinking home values and a turbulent secondary market are causing most banks have to hold these loans as opposed to selling them. This means the HELOCS of yesterday are only available to those with impeccable credit who have an abundance of equity in their homes.

Luckily, interest rates are low and balance transfers are a pretty good alternative if your credit card debt is out of control and need some help. This being said there are a few things that you want to look out for when transferring credit card balances from one card to another. The golden rule is that when you use a balance transfer card as an avenue to pay off balances on your other cards let this be your sole purpose. Make a budget and timetable to pay off the debt where there is a beginning and an ending payment otherwise you may get yourself into deeper debt.

Things to look for when transferring credit card balances:

Life of Balance Transfer cards – Life of balance credit cards are just what their name implies, they offer a low rate that applies to the balances you transfer within a certain time period. What you want to look for is a fixed rate that will not fluctuate over time. Depending on your credit level these may not be available to you, however if they are we highly suggest that you seek these cards out. The ‘gotcha’ with this class of cards is that they usually will give you an extra thousand or two on your limit in hopes that you spend it at a higher interest rate, and most people do.

Again, we suggest that you use balance transfer credit cards for the single purpose of transferring higher interest credit card balances to a lower fixed rate. Once the transfer is completed, we recommend that you shred the transfer card and the one you transferred from to keep yourself from using them again. Over 75% of people that transfer balances use the transfer card and the old card again and end up owing more money than they did before the transfer. If the cards do not have an annual fee keep the accounts open for emergencies but shred the cards to keep yourself honest.

The Fine Print – If credit card issuers are similar in one area it is most definitely their fees and the fine print. It seems like they have fees for everything including one for on-time payments. Seriously you need to read the fine print and weigh the fees that apply for balance transfers, late payments, grace periods and other ‘gotchas’ like universal default clauses. Over 80% of people that apply for credit cards will not read the fine print from beginning to end only to be surprised when their bill arrives in the mail. Most credit card websites offer handy calculators to help you calculate the best deal considering all of the fees.

Most credit cards have reduced the grace periods for repayment from 30 days to 20 days in an attempt to earn more fees and interest. If you are like most people, including yours truly, you pay your bills at a certain time of the month that usually coincides with your pay periods. The problem with this is that the 20 day grace period is relative to the due date of last month’s charges and is forever changing. If you pay your bills once a month like I do this will cause you to get late payment fees and could even trip the universal default clause which brings me to my next topic.

Universal Default Clauses – A universal default clause is a nasty little trick that credit card issuers use to jack-up your rates and fees to intolerable heights. If you look at the top of the fine print on each credit card you will usually see the regular APR and one below it that is through the roof. The one below it is the rate you will get should you pay late or even if your credit deteriorates. These clauses range from annoying to nasty and most states are trying to outlaw them but the majority of credit cards still have them.

The only card issuer that I can think of that doesn’t have this clause across the board is Capital One. I’m sure there are others but the clauses differ from issuer to issuer and card to card. Read the fine print for each card you are considering, see what their rules are that will trigger this clause. Some are mild which apply only if you are habitually late, where others monitor your credit and can jack up your rates and fees if your credit is deemed riskier than when they issued the card.

Introductory %26 Variable Rates – Beware of the asterisks. When you see one of these next to an interest rate you can bet it’s going to change on you. Most cards will advertise 0% interest on balance transfers 12 – 15 months but have cute little asterisks next to the rate. Find the fine print; chances are that your sexy 0% rate is going to morph into a giant wallet munching monster after the intro rate is over. Find out what the adjusted rate will be.The ‘gotcha’ here is that most people know their rate will adjust in the future but they rationalize the transfer thinking that they will have the balance paid off in that time frame. Chances they won’t and the credit card companies know this. How else do you think they can offer 0% interest rates?

Variable rates are almost inescapable because 95% of all cards have variable rates. The ones that do not have them are hidden deep within most websites and offer very few frills. The reason they are hidden is that they are a little tougher to qualify for and offer lower profit margins to the issuers. When searching credit card websites take an extra minute to go all the way to the last page in each category, you may be surprised what you will find. Most credit card websites are arranged with the most profitable credit cards on the first few pages, these are rarely the best credit cards.

Reward Cards – If you are using your balance transfer card as you should, the bells and whistles on reward cards shouldn’t concern you. The bells and whistles cost you more, period. They cost the issuer more and they pass the cost right back to you. If you stay true to the purpose and transfer your balances in order to pay them off you should get a plain-Jane generic card without the usual frills hat comes with most cards. The only frills you should seek are the life of balance feature, fixed rate and a manageable or nonexistent universal default clause.

In closing I hope these tips help you get your very best deal should you decide to use a balance transfer card. This category of credit card is becoming more and more popular every day due to the financial chaos surrounding us today. This is generally a good thing though; this causes the card issuers to come up with different cards that offer better deals to keep up with their competition. Just remember the golden rule, only use balance transfer cards with a specific plan to pay off a balance. If you are ‘robbing Peter to pay Paul’ the credit card companies will usually win in the end. Remember, Las Vegas wasn’t built on winners and neither are large credit card companies.

Aubrey Clark is an author and editor for Direct Banc. He is a graduate of Johnson and Wales college and resides with his wife and four children in Atlanta Georgia. His area of expertise is primarily financial in nature and ranges from topics like how to find low interest credit cards and tips and tricks on how to find no transfer balance fee credit cards.

A general question about Revolving Credit VS. Credit Cards on credit report.?

I read online that there is a difference between installment debt and revolving debt. On the article I read, credit cards were lumped into revolving credit and this kind of debt was the best for raising a score… Installment debt of course is monitored on the report, such as student loans, but it doesn’t raise the score tremendously even if you are paying it off early. Something interesting I found though, on my credit report there’s a section for revolving credit, and then CREDIT card debt… There’s a definition on my report but they seem to be the same to me! Obviously, somehow there is a difference… Can someone clarify if there is ANY difference between REVOLVING debt and CREDIT CARD debt?? Also bonus question: I am thinking about getting a secured credit card because of bad credit and I want to build good credit. Does a secured credit cards count as revolving credit?

Credit cards are revolving credit but no all revolving credit is credit card. Revolving credit is open ended and not a set payment for a specific period like installment accounts.

Secured credit cards show up on your credit report just like regular credit cards. There is not special notation. The difference between secured and regular cards is that you put up a deposit as collateral against the line of credit for the secured card. Some secured cards convert to regular cards after a year or so.

It isn’t really that credit cards build your credit faster than installment loans. It’s just that you must pay on an installment loan, inclulding the interest, for at least a year to make much difference in your score. Paying off an installment loan early does nothing for your score but would save a lot of interest.

If you use credit cards for regular purchases, wait for the statement, and pay the balance in full every month, you don’t pay interest but still build credit history. It STILL takes about a year to do much for your score, but you don’t pay the interest. That’s what makes credit cards a better way to build credit.

Keep in mind that you need a mix of different types of credit to get the best credit history/score.

Fixing Your Credit Report So You Can Easily Boost Your Credit Score

January 31st, 2014 by admin

With a good credit score, you have alot of options in life. In times of financial pressure, when you need a personal loan from the bank, you will be more than likely to get one with a good credit score. When you need a car, a lender will be more likely to give you a loan because of your good credit rating. This simple 3-digit score determines alot about the brightness of your financial future.

With good credit, you’ll be able to get amazing deals on loans and credit offers. Also, when applying for a top-notch job or even for an apartment – your score can be the difference between a great place to work and to live – or mean that you will have to settle for mediocre wages and a home that is less than desirable for you.

Lets take a look at what your credit score means and ways to improve your current credit rating.

The first thing you should know is that this 3-digit score is also commonly called your FICO score. Whenever you hear someone say ‘FICO score’, they’re talking about your 3-digit credit score. Creditors, banks, and other lenders use this number to see how likely you are to repay your loan and credit card payments.

Your score can range from anywhere between 300 to 850. With a score closer to the 800 range, you will be privy to low interest rates on loans and credit cards. With a score in the 300-500 range, you can expect to see high interest rates and occasionally declined for a variety of loans and credit cards.

The question that always arises is, ‘so what is a good credit score to have?’ A good score is around 730. With this nice score, your chances of getting a loan of multiple types are higher than if your score were somewhere in the 600′s.

To get a relatively high score like this, its important that you pay your bills on time. This is the number one thing that causes credit scores to drop. When you dont pay your pills when they’re due, your creditors have no choice but to report this to the 3 major credit bureaus (Experian, Equifax, and TransUnion). And these negative marks can stay on your credit report for a number of years.

The bad part of all of this is that all of this information will be used to make an assessment of you – regardless if you’re a good person morally. You see lenders have no idea who you are. So their only way of getting a gage of who you are is through your credit report. And if they see that you have a current history constantly being late with your payments, they’re going to label you as risky.

Because of this, you will be destined to high interest rate loans and credit cards – or even worse – denied of credit.

You want to stop this negative behavior so that you can get the best loans and credit card offers out there. You want the best interest rates. The best card with the best perks. Not something that is like a 5-pound weight on your neck that is constantly spiraling downward.

To stop this behavior, the first thing you have to do is pay off your current overdue bills. And you want to pay them off in full. Or if you have alot of loans and credit cards, you want to bring the balance to 30% of your total credit limit. This will be the first step towards improving your credit score. Wanting to pay off your bills in full is a good habit to acquire.

Next, you want to take a look at your credit reports. The easiest and fastest way to get a copy of these is to order them online at the 3 major credit bureaus websites. When you do this, you will be able to take a look at what is being reported about you, along with any errors that are currently plagueing your score.

If you see something that you know you paid off and you have proof of it, mail in a letter to the corresponding bureau requesting that they fix the error on your report, and also include proof that you paid it off. You dont want things like this on your credit report since they can dramatically lower your score.

By doing these 2 simple things, you will be well on your way to improving your credit score. It all starts will action, and you have to make it happen today.

Learn how you too can get a good credit rating simply and easily without a credit agency. To discover little-known credit improvement secrets, visit here for more details: Fix Credit Report

what is my credit score going be?

i never used credit card before , so i dont have positive or negative feedback , what is my credit score going be , i heard some people said ur credit score going be low if you never use credit card , i also heard some people said ur credit score going be 700 , if you never have bad or good feedback from the bank

Credit scores are based on the following factors only;

1. Payment history (the longer the better) 35%
2. Time in bureau (the longer the better) 15%
3. Types of credit (mix or credit cards and installment loans) 10%
4. New credit (inquiries and new accounts the fewer the better) 10%
5. Debt to credit ratio (the lower the better) 30%

F.I.C.O. scores from 300 to 850 with anything that calculates to below 300 defaulting to a 0, so if you have never had a credit card or any type of installment loan your score will start out as a 0.

The Truth about Credit Repair

January 31st, 2014 by admin

The truth about credit repair is that even immediately following a bankruptcy, you may qualify for a credit card with some companies, if you are employed and have a checking account. Some companies will approve your application even if you are unemployed. This is not to say that bankruptcy is the best credit repair option. It is not even a good credit repair option. It is just meant to offer a little encouragement to those who are frustrated and believe that there is nothing they can do.

Credit card companies that extend credit to people with low credit scores and those who have just declared bankruptcy charge higher interest rates and fees. If you qualify for one of these cards, but not the lower interest rate cards, it is important to pay the balance off each month. Typically the line of credit will be very low anyway, but it is still important to monitor your spending. The truth about credit repair is that establishing a good payment history will help. It does not exactly offset the bad credit, but if you are able to get a credit card and pay the balance off monthly, credit card companies will typically increase your line of credit. This will improve your credit score. There are many factors which determine a person’s credit score and one is the amount of available credit versus used credit. So, if you are approved for a higher credit limit, but you do not ‘charge up’ to that higher limit, then your credit score will go up. The best credit repair programs consist of building good credit, while removing bad credit.

The truth about credit repair is that negative items do not have to stay on your credit report for a long period of time. They can be removed by the credit bureaus or by the creditors who reported the negative items in the first place. The best credit repair programs include disputes with the credit bureau and good will intervention with creditors. The worst credit repair advice is to wait the five to seven years for the information to ‘fall off’ of your credit report. The truth about credit repair is that if you dispute an item on your credit report and the credit bureau cannot verify it, then they must remove it.

Even the best credit repair specialists will advise consumers that the whole process is time consuming and can be frustrating. This is the truth about credit repair, but it does not mean that you are ‘stuck’ with bad credit for your entire life or even a number of years. People who have the time, patience and the knowledge can achieve results in a matter of weeks or months. If you do not have the time, patience or the know-how, you can hire a credit repair company. The best credit repair companies are associated with law firms. They do not recommend illegal action, such as providing false information on credit applications. They are honest and upfront about their fees. The best credit repair law firms can help you achieve results, do a lot of the work for you and take most of the frustration out of the process.

The truth about credit repair is that you must pay your bills. You must pay off any outstanding judgments or charge-offs. But, the truth about credit repair is that you can call a creditor who has reported a charge-off or judgment and negotiate the removal of the negative report. Once you have paid the creditor, they have no real desire to leave the negative information on your report. Even though the credit bureaus may say that a specific item will remain on your credit report for a specific amount of time; it is not necessarily the truth. The truth about credit repair is that consumers can accomplish a lot on their own and possibly more if they have the help and advice of one of the best credit repair companies. For more of the truth about credit
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Fast Credit Repair The ABSOLUTE Fastest Way to Fix Your Credit in a Jiff Beware

January 31st, 2014 by admin

Who else is looking for super fast credit repair techniques? Are you in need of an ultra fast boost to your score? Do you need to remove a harmful derogatory item with lightening speed to get approved for a loan? In this article I’m going to share a super fast, ultra easy way to get your credit report ‘fixed’ in a flash…..but it can only be used in very specific situations, so beware! Care to learn more? Continue reading as we take a closer look below!

Communicating with the Enemy..:-)

Okay….I hate to frame this in such harsh terms, but as many of you who have worked with the credit bureaus to fix your credit can attest, it often feels like dealing with an adversary, or enemy, rather than a partner in making sure you’re file is actually accurate.

But in the even that there IS something that is 100% incorrect, and that you have verifiable proof or documentation that can prove it so, you DO have the right to contact the bureau by phone on a special line, fax in your documentation and by law, they MUST remove the item within 72 hours or 3 business days. I’ve used this technique on more than one occasion myself…and have seen it used on countless other occasions by clients. But here is the rub…….you ONLY want to use this for something that is being reported entirely wrong…and not wrong in a minor detail. Why? Because you are actually better off going through a more traditional dispute to get something off of your report completely when it was factually correct…..yet only wrong in specific detail on the report itself. (like a date is off or the balance is not 100% correct)

Using this approach is deadly effective for fast deletions, but it can also be used to ‘sabotage’ your own efforts if you aren’t paying attention and being smart! (a mistake a cringe whenever I see being made!)

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need advice fixing my credit?

My credit took a huge hit 2 years ago when i lost my job and house in the process, i had 4 credit cards all with balances that were sent to collections, im slowly getting back on track but with my taxes id like to know if theres a way i can go about repairing ir. so my questions are, what should i do to fix it? Should i pay off my balances? wait out till it goes away? Will it? Ive tried searching online but cant seem to find my solution. My credit is bad to where i literally cant apply for anything. Any advice is appreciated thanks

Paying back defaulted credit cards will not fix your credit. The damage is done. Paid does look better though and it can prevent future legal action on the accounts. Only contact debt collectors if you can afford to settle for less all at once, with all terms in writing before you pay. Don’t waste your time if you can only afford payment plans as these usually don’t turn out very well for defaulted accounts. Also don’t bother with NFCC for accounts that are already defaulted as collection agencies will not want to participate in long term payment plans. You can usually settle old credit card defaults like this in the 25-33% range. How to pay collection accounts:
- After you settle the defaults, get a secured credit card and use that to rebuild your credit history. It will take 2 years. No such thing as instant credit repair.

Instant Decision Credit Card Get Your Credit Card Instantly

January 31st, 2014 by admin

The main purpose behind applying for a credit card is so that one can make easy purchase without carrying cash. However, most of the people applying for credit card get disappointed since the procedure is very lengthy. Keeping such issues in mind, instant decision credit card facility has been implemented that will definitely put an end to such irritating and lengthy procedures.

Verification procedure while applying for a credit card is one of the main factors that takes several days. After you have submitted the required documents, you will have to wait for days to get them varied and completed. However, with the instant decision credit card you will not have to wait for more than a single day.

There are certain eligibility criteria that you have to fulfil before applying for instant decision credit card. It is compulsory that you should be above 18 years and earn a regular salary and have a bank account. The card issued to you can be used only for your personal requirements.

These are generally online procedure through which credit cards are being issued. You will find a number of credit card companies who offer online facility. Once you get in touch with them they will provide you online forms where you will have to fill in the details asked by them. Once you have submitted it, the process will start immediately.

As soon as you submit the online application form the card companies will go through them and process your application. They will verify whether your application is eligible for acceptance or not. Once all these processes are completed, you will be provided with an instant decision.

While searching for the credit card companies make sure that you compare the offers that are available. By comparing you will be able to find the one that will offer you the most advantages and also suits your requirements.

Amy Gordon is associated with Instant Credit Cards . She holds a Master’s in finance from Cambridge University. To know more about instant decision credit card, cheap credit cards, credit card, instant credit cards please visit

Why do infomercials say they give an instant discount if you pay with a credit card?

i’ve been wondering why a credit card and not a debit card qualifies for discount.

I would be careful giving a credit card or a debit card to any infomercial.

In most cases, they can not tell if it is a debit card or credit card. So, you should still get the discount. Also, if it is one of those monthly payment options. Dont chose that option. Choose to pay in full. If you chose the other option, it will authorize the full amount anyways.

You debit card must have either a Mastercard or Visa logo to work.

Your Guide To Bad Credit Loans All You Need to Know When You Have a Bad Credit History

January 31st, 2014 by admin

Bad Credit Personal Loan Source.

Bad Credit Personal Loans Regardless Of Bad Credit – Up To $25,000. Affiliates Earn 60%. more info…

Bad credit student loans?

I am looking for a student loan that would apply to a student with bad credit. A stafford loan and federal plus loan will not help.

Help if you can.

Bad credit, good credit.. it doesn’t matter. To get a private student loan will require a co-signer with excellent credit. There are no private student loan companies that will loan to a student without a co-signer and no company that will loan to a student with a co-signer with poor credit. These programs simply do not exist and you’re wasting your time looking for them.
Many students manage to get a perfectly good education without resorting to private loans and you probably can too.


How Do I Improve My Credit Score After Bankruptcy

January 31st, 2014 by admin

How Do I Improve My Credit Score After Bankruptcy?

There are, In essence, two ways a person can file for bankruptcy and those two ways consist of getting rid of all the debt completely or paying some of it back. Chapter 7 bankruptcy is where nothing is repaid and Chapter 13 is where some is repaid. Either way a person looks at it, bankruptcy will impact a credit score quite negatively. These impacts will in most cases last on a credit report for 10 years. But how does a person who has a bankruptcy on their credit report help improve it? This is what we will discuss here.
First, no matter how you look at it; it will be extremely difficult to obtain any financing following a bankruptcy right after it occurs. But that does not mean a person cannot begin building their credit back up while the effects of a bankruptcy are in full effect on a credit report. One major way a credit score can be improved is through secured lines of credit.
Secured lines of credit are simply where the creditor will allow a credit account to be active, even after bankruptcy, provided that the maximum credit amount is backed up 100% by your own funds. So if you want a $5,000 credit line, you will have to deposit $5,000. This is simply to eliminate the risk to the lender that any more default of delinquent payments will occur. This is a great opportunity for those who need to build their credit back up while providing that creditor a lower amount of risk. Over time this will help improve a credit score substantially after many payments on the accounts have been made.
After a couple years, many of those who had filed for bankruptcy will be eligible to apply for another loan such as a mortgage. If that person has been working on improving their credit score over the years, then that improvement will surely show on their report which will help their chances substantially. There are no guarantees, however, especially after a situation such as bankruptcy, but it does show that the person is making a good, honest effort to improve.
Granted, in this type of situation such as bankruptcy, there will always be repercussions to that negative impact on your credit score as it will usually result in higher down payments and such. The ramifications of a bankruptcy are really never actually eliminated completely from a person’s record so it is very important to reconsider one’s options if they are considering declaring bankruptcy, especially if they are planning to declare a Chapter 7 bankruptcy where they decide not to pay ANYTHING back at all.
Overall, the best way to improve one’s chances of having a much harder time in the financial world is to work on preventing the situation all together. One way that many keep their credit in line is through monthly monitoring of their credit through services offered by Experian and other credit monitoring companies which can be seen in more detailed at our website. If a person monitors their credit often and prevents decisions which could compromise their credit in the future such as with mortgages higher than they can afford, the rewards will be much greater when the time comes when such items become necessities. There are many other ways a person can help avoid the problems associated with a bankruptcy before it happens through services such as debt settlement or even making an appointment with a legit credit consolidation professional whose job it is to help you get out of any financial jams that you may currently be in. If it has already been established, then just focus on making payments and improving that score over time.

S. Michael Windsor is currently publisher and a writer for The MCN Online FICO Credit Score Guide is a premier FICO score and credit report information platform that provides individuals with a quality in-depth look at credit scores and reports and the associated products, services and information available today. Visit us today at and subscribe to our FREE Member services.

fico score credit question?

Have a score of 699 (fico) but don’t seem to be able to break the 700 mark…..could it be due to a bankruptcy 9 yrs. ago ?

All of my bills are paid on time and my average length of credit card is 5 yrs.
Any suggestions?

My debt. to credit ratio is 18%


Credit scores change very often. You could have a paid up to date credit card with a balance of $100, not past due, in good standing etc.. But that balance alone can lower your score a few points. Now the next month say you pay your balance in full, you score will raise a few points.
Credit scores are great to know, they give you an idea of where you stand, but they change so often, you can’t rely on 1 score from 1 day of looking..
But yes, that bankruptcy is affecting your credit, it’s not holding you back from hitting 700 though, in other words there is no “699 max score” for people w/bankruptcies. Your score can and will go up or down often.
Also remember banks do not look souly at the score the moment the credit check was pulled, they calculate it over a period of time. So you could have a score of say 680 the day they check it, but they may say your score is 695 based on breaking your credit history down.. It’s all about the formula bank uses, credit scores are never as simple as the number on the report.