Good Credit Rating Score

What does it take to get a good credit rating score? Well, first it takes time. Having good credit doesn’t happen overnight. You’ll need to actually HAVE credit before you worry about a good credit rating score. To do that, you may want to start out small with a department store or gas credit card. These are relatively easy to get. Once you have the card, charge some small items and then pay the bill off in full for several months. We must caution you here – don’t charge more than what you can pay off in full. If you carry a balance, it won’t reflect well on your credit report.

How to get a good credit score

good-credit-scoreAnother way to get a good credit rating score is to have a co-signer on a large loan like a car loan. The co-signer is basically guaranteeing that you will pay the loan and if you do, it will reflect very well on your credit report and raise your credit score repair. You see, what you need to get a good credit rating score is a history of on-time payments and no abuse of credit. What we mean by that is that you don’t want to apply for and get several different credit cards and charge items on all of them. This just shows the credit companies that you are being irresponsible with your credit and have little financial finesse or know-how when it comes to managing money.

To get a good credit rating score, the most important thing to remember is to pay on time. We can’t stress this enough. Most companies that extend credit to you will allow you a grace period to make the payment. For example, if your payment is due on the first of the month, they usually tell you late charges will occur if you pay after the 13th. So essentially, you have between the 1st and the 13th to make your payment. While this sounds great, if you wait until the 13th to make your payment, this really can reflect poorly on your credit report. So if your bill is due on the 1st, pay it on the 29th, 30th, or 31st of the previous month just to be sure.

On time payments

A great way to ensure that you are making on-time payments is to have them deducted directly from your checking account. This alone will contribute toward a good credit rating score because it shows fiscal responsibility. Plus, it ensures that your payments are made on time and you won’t miss any payments. Of course, you’ll have to be sure there’s enough money in your account to cover the payments since credit bureaus also look at your checking accounts.

Getting and maintaining a good credit rating score secrets is actually quite easy when you set your mind to it.

Does Paying Off a Credit Card Raise Your Credit Sc

No matter how high your credit score may be, chances are good that you’d like it higher. The maximum for credit scores in America ranges between 300 and 850, and you can bet even the folks at 849 are wishing for one more point. Why shouldn’t they? A credit score is a standardized form of determining a person’s likelihood of defaulting on any bill or loan they may have. Many industries, specifically in the financial sector, depend on these figures to help educate them on whom to support economically.

What affects credit score?

credit-debtOne of the chief things that affect a credit rating is the manner in which someone utilizes their credit cards, which makes sense. People who abuse these resources, pay back their lenders in a habitually tardy fashion, or people who constantly pull out large cash advances? These are people who banks can be reasonably certain will have issues with paying back any sort of debt. The way that the credit bureaus calculate their scores reflects this, and they grant those who employ these sorts of methods lower credit scores.

Most people then expect to pay off credit cards to afford them an equally improved score, which is logical. The problem is that they’re not thinking how the credit bureaus are thinking. The three major companies are Experian, TransUnion, and Equifax. The oldest of these companies are Equifax, which is over 110 years old, websites like this help to fix your credit score. That much experience affords a company a lot of information on how people lend money, and how they pay it back. It also affords them a great deal of knowledge of what actions are red flags that indicate a person is less like to make good on their debts.

Paying back a card isn’t some special thing you’ve done for them; it was part of the agreement the moment you applied for the card. The bureaus know this, and it makes them reluctant to awarded higher scores over doing what is already expected. In order to have your credit habits have a positive effect on your rating, you need to prove that a timely payment schedule is actually a routine for you.

Common mistakes

In regards to a credit card, one common pitfall that actually lowers your score instead of raising it is canceling lines of credit while you are still dealing with a significant amount of debt. This may seem weird, but it makes sense when you think about it. Credit bureaus consider your credit limits, and how much of that limit is already used up, when coming up with your score. By eliminating vast pools of unused credit, you’re making the numbers reflect t a worse situation than you may actually be experiencing. While you shouldn’t hold on to cards that you no longer want, save their cancellation for when you have taken care of a large quantity of your debt. Then, make sure you do them one at a time instead of all at once. Instead you need to use credit fix secrets.

Paying your credit card bill does raise your credit score, but not nearly as much as most people would like considering how much a missed payment can drop it. The best thing you can do with a credit card is to use it only is a responsible manner. People who operate with restraint when using credit cards will have good credit ratings.

How to Get Debt Collectors to Stop Harassing You

Are those annoying credit debt collection calls getting to you? If a company believes you owe them a debt, they do legally have the right to contact you to retrieve that debt. However, in just 30 minutes of work, you can get them to never contact you again.

Here’s how to get debt collectors of all non-business debt to stop harassing you.

Before Getting Started

Before you request them to stop contacting you, it may be a good idea to actually talk to the collectors just once.

That way, you can get a good idea of what’s going on. The debt could be a lot less than you expected. Or you might be able to negotiate a much better deal than you’d expect.

Often paying a fraction of your credit debt may be better for you and your credit than if you just defaulted on the debt.

That said, if you do choose to ignore your creditors, here’s how to get them to stop contacting you.

Cite the Fair Debt Collections Practices Act

credit-collectionThe Fair Debt Collections Practices Act (FDCPA) is the act that prevents debt collectors from acting out of line. It’s also your main leverage when it comes to getting debt collectors off your back.

If you want debt collectors to stop contacting you, all you need to do is send them a letter citing the FDCPA. Ask them to cease all contact with you as required by law.

Make sure you send the letter with a return receipt, so you know when they’ve received the letter.

Once they’ve received this letter, they cannot try to contact you to collect a debt any longer. The only two reasons they can contact you for are to either let you know that they’ve added you to their “do not contact” list or to inform you of further action, such as a lawsuit.

There are many different templates you can find online for ceasing contact request letters. It’s very easy to just print one of these out, replace the address and email it.

What Happens If They Still Contact You?

If they continue to contact you after you’ve sent them the letter, you’re eligible for a lawsuit.

You can get paid $1,000 plus legal fees if a debt collector still continues to contact you after you’ve requested them to stop. You don’t have to prove damages.

Using this simple method, you can get a creditor off your back in as little as 30 minutes. All you need to do is buy an envelope and stamps, print out the letter and put on their address. After that, you should either have no more contact or be eligible for a lawsuit if they keep pestering you using this credit fix secret.