Your credit rating is an important tool that you should check regularly and look at how to improve it, rather than demolishing it, with each purchase you make. Your credit rating holds potential power over you and the reason your credit application fails or offered at a higher interest rate; it can affect your mobile phone contract is just one of the reasons why you can’t secure a rented property. In essence, your credit report holds many keys and it is up to you to look after it and make sure it is working for you and not against you. [Read more…] about Why You Need To Improve Your Credit Rating
Unfortunately, credit is an important part of society; it allows people to buy things over a period and often includes a high rate of interest paid to the lender, as interest for the money borrowed. It is surprising how much information your credit report has on your personal circumstances and how often it’s referred to, in relation to a number of different areas that you would not necessarily at first consider. Knowing the information held about you is important, it shows the relationship you have with money and how high a risk you are for lending more money. [Read more…] about Do You Know What Is On Your Credit Report?
It is not difficult to build a great credit score but there are some points, which are key to ensuring that, if in future you are looking to get any form of credit, you get the best deal possible. The better your credit score the better deals offered to you and this can mean saving money in interest payments over the course of the credit agreement. Credit is a commodity that is easy to obtain, however, there is a need to have a great credit score even if you don’t want a loan or a credit card. Some other areas which you might not expect to have a bearing on your credit score: a poor one is a reason why a refusal for an application for renting a property, or a mobile phone agreement. [Read more…] about How To Build A Great Credit Score
Your credit report is a glimpse into your credit history, it holds information about how you handle credit, from your mobile phone bill to your mortgage; everything credit related gets recorded here. It is legal for certain companies to hold this information and to allow other credit companies the potential to see what your credit history is like and how much of a risk you are. It is a way for companies to track how you handle money and responsibility towards debt. [Read more…] about What Your Credit Report Says About You
If you are looking to get out of debt, the most important item that you must do immediately is to stop spending on credit. It is the most critical item that you can do today. Once you accept that to reduce the debt which you owe, you must reduce the amount you are putting onto credit to zero, it is only then can you take back control of your finances and work out how you are going to move forward and pay back all the debt which you owe. [Read more…] about Stop Spending On Credit
While everyone is out shopping getting the best deals, are you risking your credit with these purchases? Are you shopping for the deals with money saved or are you putting them on credit? If you are paying for the credit card bills in full when it comes through you are in a better position because some credit cards offer money back and you could be saving more. However if you are paying off over a period of months, you are paying interest on top of the purchase price which may not make it such a great deal as you first thought. [Read more…] about Are You Risking Your Credit
There are many myths that try to point you in a different direction and often these myths are slim on facts, they are miss leading and can cost you money. Understanding the complex issues that surround a credit card and borrowing money is complex, but get this right and it will save you money on future credit and lower interest payments. [Read more…] about Credit Card Myths