Archive for May 31st, 2009
nicky asked:
I am looking to buy a house and want to seek a few different options before buying. If I have them all pull my credit will this cause my score to decrease? Please tell/show me how you know this.
Denisha Ervay
I am looking to buy a house and want to seek a few different options before buying. If I have them all pull my credit will this cause my score to decrease? Please tell/show me how you know this.
Denisha Ervay
WENDY D asked:
I need to refinance my house but my credit score is 525. I need it at 580 minimum to be able to refi with a good rate and get cash out. Does anyone know how to get a score up that much in a short amount of time. I know I owe about $400.00 on credit cards and I have some lates on there. I am going to pay the credit cards off, but does anyone know how I can get that score up within 2-3 mths or so?
Barney Fager
I need to refinance my house but my credit score is 525. I need it at 580 minimum to be able to refi with a good rate and get cash out. Does anyone know how to get a score up that much in a short amount of time. I know I owe about $400.00 on credit cards and I have some lates on there. I am going to pay the credit cards off, but does anyone know how I can get that score up within 2-3 mths or so?
Barney Fager
he words “credit score” into any major search engine and you will quickly realize that knowing your credit score – and improving it – is big business. There are a number of companies out there that specialize in teaching individuals about the importance of their credit score.
In truth, your credit score holds a much larger influence on your life than you may realize. Credit scores are hard to escape and will be with you throughout your life. This will influence the interest rates you pay on purchases through to approval for major loans such as a home loan. Once you realize how important your credit score can be for your financial portfolio and lifestyle, it’s integral that you take steps to understand and improve it as much as possible.
Your credit score is your financial report card. Whether is good or bad, any financial document under yoiur name is going to impact your credit score. Conversely, if you are just starting out and have few financial documents with your name associated with them, you might have a lower credit score simply because you do not yet have a strong credit history.
Credit cards can be either your best friend or worse enemy with your credit score. If you are young or just starting out independently, it is often recommended that you secure a credit card to begin your credit history. By establishing a low-interest, low limit credit card, you can start to build a strong credit history by paying off your bills each month. In addition, putting your name on the utilities or establishing a good record of payment with your rent or mortgage can also increase your credit score. When you apply for a credit card in the future or wish to lower the interest rate on your current credit card, your credit company will first look to your credit score and payment history. If both of you have a good credit score then you are likely to benefit from a lower interest rate.
However, if you have been behind on payments or have excessive debt on the credit card, you might be turned down due to a lower credit score. It’s important to understand that using a credit card wisely can help you, but taking advantage of the credit card debt will destroy your credit score in the long run, affecting numerous future financial purchases.
When you go to buy a home, for example, the bank providing the home loan will consider your credit score before approving your loan or giving you a lower interest rate. In addition, if you plan to purchase a new car in the future, the car loan amount will also depend on your credit score.
Take charge of your financial future by analyzing and understanding your credit score and how much it can change your life.
By: Richard Greenwood
About the Author:
In truth, your credit score holds a much larger influence on your life than you may realize. Credit scores are hard to escape and will be with you throughout your life. This will influence the interest rates you pay on purchases through to approval for major loans such as a home loan. Once you realize how important your credit score can be for your financial portfolio and lifestyle, it’s integral that you take steps to understand and improve it as much as possible.
Your credit score is your financial report card. Whether is good or bad, any financial document under yoiur name is going to impact your credit score. Conversely, if you are just starting out and have few financial documents with your name associated with them, you might have a lower credit score simply because you do not yet have a strong credit history.
Credit cards can be either your best friend or worse enemy with your credit score. If you are young or just starting out independently, it is often recommended that you secure a credit card to begin your credit history. By establishing a low-interest, low limit credit card, you can start to build a strong credit history by paying off your bills each month. In addition, putting your name on the utilities or establishing a good record of payment with your rent or mortgage can also increase your credit score. When you apply for a credit card in the future or wish to lower the interest rate on your current credit card, your credit company will first look to your credit score and payment history. If both of you have a good credit score then you are likely to benefit from a lower interest rate.
However, if you have been behind on payments or have excessive debt on the credit card, you might be turned down due to a lower credit score. It’s important to understand that using a credit card wisely can help you, but taking advantage of the credit card debt will destroy your credit score in the long run, affecting numerous future financial purchases.
When you go to buy a home, for example, the bank providing the home loan will consider your credit score before approving your loan or giving you a lower interest rate. In addition, if you plan to purchase a new car in the future, the car loan amount will also depend on your credit score.
Take charge of your financial future by analyzing and understanding your credit score and how much it can change your life.
By: Richard Greenwood
About the Author:
Richard Greenwood – Director of Online banking magazine The Money Web. The free online magazine features articles from a wide range of finance insiders to provide excellent tips.
Larry Purfeerst
skunk_wink asked:
What does your credit score have to be to get a 7000 dollar motorcycle loan? whats the lowest score you can have?
Beth
What does your credit score have to be to get a 7000 dollar motorcycle loan? whats the lowest score you can have?
Beth
CreditScore101101 asked:
http://www.videocreditscore.com – What’s a Good Credit Score – Watch this short video discussing tips to get good credit scores.
Javier Shappen