| 5 Myths Of Credit Part 1 of 3 |
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| Written by Barbara Thompson |
| Monday, 03 May 2010 18:15 |
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It is crucial to comprehend what affects your credit score and report if you are thinking of purchasing a home, car or refinancing your mortgage. More than ever, it is tougher to get an above average credit score. There are different and more lending requirements and a higher score would save dollars for you and will make a difference in the interest rate. There are common illusions and falsehoods about credit reports and scoring that can cause errors for you. Read on to learn more.
It is crucial to comprehend what affects your credit score and report if you are thinking of purchasing a home, car or refinancing your mortgage. More than ever, it is tougher to get an above average credit score. There are different and more lending requirements and a higher score would save dollars for you and will make a difference in the interest rate. There are common illusions and falsehoods about credit reports and scoring that can cause errors for you. Read on to learn more. 1 - Myth: My score will increase when I closed my unused credit cards. 2 - Myth: Checking my credit report will lower my score. 3 - Myth: My age, race, gender, marital status, religion, income, or home address can affect my credit score. 4 - Myth: If I negotiate the interest rate with my credit card or mortgage company, my score will decrease. 5 - Myth: I pay cash for everything and don't buy on credit or use credit cards, so my credit score should be excellent. Can you improve your FICO an easier and simple way? Yes. It is not easy when it comes to credit and money, however, this method is a simple, different method to help build credit and restore your credit easily for yourself. This is original and practical and this is not your average run of the mill pre paid debit card. How would you like to pay your bills online AND build your credit every month? Regardless, if you HAVE or do NOT HAVE a checking account, this is definitely a beneficial resource for you. IN OUR OPINION, THIS CARD HAS MANY BENEFITS AND WE SEE THE MAIN TWO BENEFITS FOR YOU WOULD BE: A VISA/MC LOGO A PRACTICAL WAY TO BUILD YOUR CREDIT Although there are many prepaid cards available, only the Account Now account will allow you to build a payment history for your credit file buy applying mortgage or rent, phone, utilities, insurance (and more) payments. You will learn how to build your credit with PRBC (Payment Reporting Builds Credit). PRBC is a 4th credit bureau. 100 % approval NO credit check NO overdraft Your score will improve by cleaning up your credit report, and removing inaccurate items will be successful. We encourage taking action with this process for all consumers. This takes time with alot of effort and there are many rewards gained with persistency and determination to improve your score. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Learn more about your credit report. Stop by Barbara Thompson's site where you can find out all about improving your credit score and what it can do for you. |