March 1, 2010 at 10:35 pm |
Uncategorized | No comment
Credit Scores
Credit scores range from approximately 300 – 850, depending on which credit bureau you are using and their individual scoring system. In any case the higher the number the better the score.
National Average – 680
A few years ago, a credit score of 620 or higher was good enough to apply for a home loan or refinance an existing mortgage with historically low rates. That requirement increased to 680 in early 2008. Last April it jumped to 720 and 740 in August of 2009, according to Bankrate.com. Fair Isaac Corporation, creators of the FICO score, a measure of credit risk, which are the most used credit scores in the world estimates that over 80,000,000 Americans have a credit score of 650 or less.
March 1, 2010 at 10:29 pm |
Credit | No comment
How can credit repair help me if I have good credit?
The answer is simple. If you have good to great credit there may still be errors on your report that if corrected or removed would raise your score higher. Higher credit scores equal lower interest rates. Lower interest rates mean more money in your pocket.
March 1, 2010 at 8:34 pm |
Credit | No comment
Day Light Savings is Coming
Here is your checklist:
1. Move your clock one hour forward.
2. Check the batteries in your smoke/carbon monoxide detectors
3. Check your CREDIT REPORT.
Why Do I Need to Check My Credit Report?
Considering our biggest purchases are typically made with credit, it’s amazing how many people haven’t seen there credit report in years. More often then not people find out there are problems or mistakes on their credit reports when they want to purchase something with credit. If they are lucky, they qualify, but with higher interest rates because their scores have not been reviewed, errors corrected and their credit profile maximized. The unlucky ones get denied.
This can be avoided if you simply check your credit on a regular basis. There are dozens and dozens of services that will monitor your credit and report any changes for less than $20 per month. If you have not seen your credit report for more than a year or you don’t know your score, now would be a great time to get an updated copy.
What You Don’t Know Can Hurt You
Believe it or not there are common mistakes and errors on your report that could make you one of the unlucky ones when you thought your credit was just fine.
