Mark Clayborne's Blog, page 2

What Is a Bad Credit Score? 5 Things You Should Know

There has been plenty of talk about good and bad credit scores in the news lately. It is no secret that there plenty of people who have come to the realization that their credit scores are holding them back. The bad credit score is holding them back from owning a home, going to college or eve buying a car. So what is a bad credit score? The terms have changed quite bit over the last decade or so. What used to be considered good has been bumped down to the fair category making it much more difficult for people to obtain prime interest rates on loans.

Here are 5 things you should know about scores and how to determine what is a bad credit score versus a good score.

A bad score is somewhat subjective depending on the type of credit a person is applying for. Home loans have some of the strictest credit standards while department store credit cards have fairly lax standards. Home loans will typically consider anything under 640 as a bad score, but that doesn't necessarily mean it is impossible to get a home loan under some programs.
Credit card companies will often offer credit lines to those with scores ranging in the high 500s and low 600s, but the interest rates will be less than prime. There may be additional fees tacked on as well.
When talking about what is a bad score, it is important to understand that scores under 500 are considered very bad. People with scores that low will struggle to get unsecured loans or credit lines. However, it isn't the end of the world. It is possible to raise a credit score.
Unfortunately, it doesn't take much to knock a credit score down. One late payment, bankruptcy, or medical bill sent to collection can reduce a score by double digits. It takes very little time, a matter of months, in fact, for a score to be negatively impacted, but it can take several months, if not years to repair.
Consumers with scores that fall into the bad credit range will pay close to double the interest rates compared to those with scores above 640. It is very costly to get an auto loan with interest rates that are essentially punitive. Many consumers would be better served to save the cash in a bank and buy what they need outright rather than take out a high-interest loan.

Understanding how scores impact interest rates for loans and credit cards is an important step to rebuilding credit. Before applying for credit, consumer must have a firm understanding about what is a bad credit score. Never make assumptions about whether a score is good or bad until you have the facts. Choose wisely when it comes to applying for new credit. Don't get sucked into cards with steep interest rates that will cost you more money and drive you further into debt, effectively hurting your credit score more than it already is.

The post What Is a Bad Credit Score? 5 Things You Should Know appeared first on Self Credit Repair Learning Center.

What is Credit Repair

What is credit repair? What does it mean? Who would need it... and why would we want it? In this article we are going to take a quick and insightful look at credit repair, and see if we can't shine a bright and insightful light on the industry overall. Curious to know more? Great... continue reading as we take a closer look below.

What does credit repair mean?

Good question! It's the simple process of "fixing" one's credit by using the available consumer credit laws to facilitate the removal of negative items. The law most frequently used (and cited) is the Fair Credit Reporting Act (usually called the FCRA) and all of the amendments and revisions made to this law over the last several decades. (almost exclusive in favor of the CONSUMER... which is a good thing..:-)

Is credit repair legal?

Absolutely. And the law above guarantees it as well. The simple truth is that while there are many unscrupulous people on BOTH sides of the credit fence (lenders, vendors and repair agencies alike) the fundamental right to challenge, dispute and REMOVE items from your report is 100% legal, kosher and above board to boot!

Why does the credit fix business have such a bad name?

The truth? Because there is so much money on ALL sides. And because credit is such an important commodity in so many ways... that opportunistic people of all types and stripes have sought out to take advantage of the credit challenged. This includes predatory lenders...as well as credit repair "clinics" that often promise to "fix" your credit overnight, using methods that are questionable at best... outright illegal at worst.

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Want To Be A FICO Score High Achiever?

Want A High FICO Score?

Follow These Recommendations and you too can one day be a FICO Score High Achiever.

People with FICO Scores above 780 practice the following:

1. They are not debt free, but they manage their accounts responsibly.
2. They keep low balances on revolving accounts.
3. They don’t max out their credit cards.
4. They always make their payments on time.
5. They have an average of seven credit cards including open and closed accounts.
6. They have an average of four credit cards or loans with balances.
7. They use 7% of their available credit.
8.96% show no miss payments on their credit cards.
9. Some of them have had problems in the past with payments but they got back on track.
10. One in 9000, have had a tax lien or public record on their credit report at one time.
11. Less than 1% have accounts past due.
12. One in a 100 have a collection account on their credit report.

Keep these key points in mind and one day you will be a high achiever also.  To learn more about raising your credit score and becoming a FICO Score High Achiever Click This Link: 

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How To Rebuild Your Credit in 3 Steps: Radio Show

In this show, Mark Clayborne, author of Hidden Credit Repair Secrets will discuss four simple ways on how to rebuild credit.

Get Your Copy of Hidden Credit Repair Secrets by clicking here.

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Radio Show: Credit Cards For Bad Credit

Credit cards for bad credit: In this show, Mark Clayborne, author of Amazon’s Best Selling Credit Repair Book  Hidden Credit Repair Secrets, talks about the five tips on credit cards for bad credit. Learn more about credit cards for bad credit and credit repair tips, get your copy of Hidden Credit Repair Secrets by Clicking Here 

 

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How to build credit fast in 4 simple steps

Oftentimes, people who are suffering from bad credit and financial problems don't realize they can fix their credit with a few tips.  Anyone that wants to fix his credit scores and repair his credit to good standing can do so with if they just follow a few steps to better credit.  Here are some of the basic ways by which anyone can learn How to build credit fast:

1. A savings account is one of the best plans of action: A savings account is a good way to answer the question of how to build credit fast. Simply putting some money into a savings account each payday will provide debtors with important emergency funds. The money that was saved will also provide some funds to play with and buy a few things as rewards for good saving behavior. The best plan of action is to start saving some money after paying off all of the monthly bills, and before buying anything that's not absolutely necessary. The idea is to pay bills first, save money, then use a little bit for a reward. Savings account funds are not revealed in credit bureau reports; but having a savings account reflects good money managing skills, which helps to repair a person's bad credit rating and increase the total credit score.

 

Budget plans help restore credit: Many people who are in debt and have bad credit wonder how to build credit fast. The answer to this common question is to make a sensible and well thought out budget. This budget plan is simply a list of the items that are needed to spend money on and how much money is available to spend. When there is extra money one month, savings is put aside; when there is an unanticipated bill another month, the savings can be used toward paying this bill.

 

Wants and needs should be analyzed : Another good tip for people who want to repair a bad credit score is to remember to spend money on what they need, instead of what they want. Analyzing wants and needs will reveal the idea that some purchases are not necessary, and saving money is the better course of action when learning how to build credit fast for financial wellness.

 

It's a good idea to stop using credit cards and start paying for everything in cash: Credit cards are similar to the gambling casino chips. These credit cars have been designed that they make people forget that using them to spend a lot of money is what puts many people in debt. Once people learn to make use of the cash-only option, they will be able to get a real feel for their spending habits and realize the have been spending too much money on things.

Building up a credit score is done by applying simple strategies toward financial wellness. Most people are able to see results in their credit scores by using these simple tips to build credit fast.  To Learn More Secrets. Click Here.

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Fix My Credit – Hidden Credit Repair Secrets-The Book Now Available on the Kindle Fire and All Android Phones:

Fix my credit: How To Increase Your Credit Score and Repair Your Credit With The Number 1 Book In The Country. Tried and Proven Techniques Delivered To You At The Push of a Button.

“The most complete credit repair book I ever read. This book will teach you how to increase your credit score and get your what you want. -Sam Park”
Fast and Effective Credit Repair
What if you had the knowledge in the palm of your hand that would help you get the following:
• Your dream house.
• Your dream car.
• That new apartment.
• Your dream job.
• Start a new business.
If you had this knowledge, would you use it to start living the life you want?

Fix My Credit: What if you knew a handful of strategies that will allow you to do the following:

• Avoid embarrassing moments when applying for credit.
• Sleep at night because of no more abusive collection calls.
• Spend what you want at the mall and your favorite restaurants because you saved thousands.
• Avoid frustration and family fights due to money.
• Open your mail freely because you know it’s not a bill collector or a lawsuit.
• Block wage garnishments and bank account seizures.
• Fire credit repair attorneys because of cost and poor results.
• Take control of your credit in the comfort of your home.
• Increase your credit score and get into that new home or car.

Fix my credit: If you knew these strategies, would you take action to get your credit straight?

What if I showed you the same techniques and strategies credit repair lawyers and consultants use to repair their client’s credit? Would you take action? What if this book could give you the following:

• An easy step-by-step 12 letter campaign that will allow you to challenge any inaccurate information.
• Over 15 sample letters ready to go. Just enter in your information and watch the magic work.
• Easy to read and easy to follow chapters detailing credit repair techniques and strategies.
• Easy to understand actionable steps that could save you thousands.
• Up-to-date and relevant information that match the economic conditions.
• Step-by-step game plan to rebuilding your credit without even thinking about it.
• A comprehensive understanding of how to remove judgments, collections and charge-offs.
• Easy to follow strategies on how to stop debt collectors in their tracks.
• Step-by-step instructions on how to raise your credit score fast and get into your home.
• Real time secret bonuses that credit repair companies will charge you a fortune for.
• Step-by-step process to settling your debts even when the collector doesn’t want to settle.
• The material is so easy to read, you can read it in one day.
• Clear instructions on what to do if the credit bureaus refuse to remove inaccurate information.
• Techniques on how to increase your credit score.

Fix my credit: If you had all of the tools listed above, would you take action? If the answer is yes, start repairing your credit today by clicking the add to cart button.  Click Here and Get Your Copy

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Hidden Credit Repair Secrets

Hidden Credit Repair Secrets-The Book Now Available on the Kindle Fire and All Android Phones: Click Here To Learn More http://linktrack.info/kindlefireapp

Five Ways To Fix Credit

Being in a financial crisis can be a stressful affair. Fixing a poor credit rating requires a person to realize and take some positive steps. Chang ing the attitude about money will help largely. Credit scores are hard to understand for most people which is why so many people remain clueless about how they can fix credit. In this release, great ways to boost those credit ratings will be discussed:

Tip no.1

You really cannot fix credit if you don't know the situation you are in. Make sure you get a copy of your credit report. It is absolutely essential for one to know about their credit score. See if your late payments have done you in. The ratio of debt as compared to the income could have tanked you. Having knowledge of the problem, will help you in solving the issue.

Tip no. 2

Do not make new purchases with your credit card. This will raise the credit utilization which is the ratio of the balances and the credit
limit of your card. Make sure that you stay clear of buying stuff on your credit card in order to reduce the balance. Lower the balance, higher the credit score.

 

Tip no. 3

Make sure that you make bill payments before the given statement date. By paying up before hand, you can gradually lower the utilization rate, which means better credit scores. To fix credit, make sure you pay off your debts. The debt amount is a whopping 30% of your credit rating. If you want to fix your situation, start making payments. To speed up things, you could sell off belongings to make some money. This way you will eventually gain much needed financial freedom and credit points too.

Tip no. 4

If you still are not eligible for a credit card, you can apply for a secured card. The secured card shall make its way on to your concerned credit report like a normal credit card. If you make use of this card responsibly, you shall be able to build up better credit.

Tip no. 5

Make it a point to dispute any of the errors on the credit report. Make sure you bring this error to the attention of the bureau of credit reporting. You could fill out a dispute form online or write a letter to them about the same. This is another effective way by which you can fix credit.

One must realize that rebuilding credit is necessary and it can be done. It is really important for one to be patient because debt didn’t hit you hard in a day, it took time. Therefore, fixing your scores will take time too. Follow the above 5 ways to fix credit and ensure you have brighter financial days ahead.

For more information on Credit Repair, Get Your Copy of Hidden Credit Repair Secrets Here

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New Video: How To Improve Your Credit Score: How To Improve Your Credit Score Fast

http://linktrack.info/youtube48waystoraiseyourcreditscore How to improve your credit score.  Mark Clayborne, the author of Hidden Credit Repair Secrets, talks about the five ways on how to improve your credit score. Click here to learn more about Hidden Credit Repair Secrets. http://linktrack.info/youtube48waystoraiseyourcreditscoreClick Here to Watch Video 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Powered by

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