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9 April 2013

5 Ways To Ruin Your Credit Rating

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5 Ways To Ruin Your Credit Rating
Your credit rating is oh so important in todays financial climate, even more important than it was 5 or 10 years ago – and even back then it was very important to have a good one. Back then financial companies and institutions were a lot more carefree with exactly whom  they chose to give their money to, but they still would’ve checked your credit score. Try going into a bank and asking for a loan or applying for a new credit card and they’ll probably scrutinise your own credit rating with a magnifying glass and a highly suspicious mind.
These financial services have decided to not lend out as much money as they previously did, for fear of the whole backlash from the regulators. They’ll only give out money to people with squeaky clean appearances, secure jobs, and a history of paying off any loans or debts way before any deadlines. Basically if you have any blemishes on your credit check then they’ll  want to stay a million miles from you.
So what is this rating and how can you go about improving it? Firstly you should apply for a check to see what kind of …

4 March 2013

A clever trick to boost your interest rate

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A clever trick to boost your interest rate
With the interest rates being as low as they’ve been for decades, you may feel what’s the point in bothering with a savings account. Rates were as low as 1%, meaning from $10,000 in a savings account you’ll receive a poor $100 in return for tying up your money.
 
Wouldn’t you be interested in boosting this rate, by any means possible? With the recession being the way it is banks aren’t really able to offer the kinds of interest rates that they used to. This is unlikely to change anytime soon. You can understand their ploy – they’re trying to encourage people to spend there money, in a bid to help resuscitate the economy. After all no-one’s going to be making any money if everyone wants to sit on theirs and are afraid to open their wallet. With such a low interest rate you’re expected to spend your money as fast as you’ve earned it, but there is another way.
 
You may or may not have heard of the idea of credit card stoozing. This isn’t really a new idea, its been done since the invention of credit cards which offered 0% interest on purchases. …

13 November 2012

How to Check Your Credit

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How to Check Your Credit – Credit Score Range
Getting into debt is dangerous for many reasons, and among these is the impact it can have on your credit rating which can then make it difficult for you to apply for credit cards and general loans. Because your credit rating is a reflection of your previous ability to pay back loans, this means that lenders are weary of lending to anyone whose score is bad.
Fortunately there are several ways to improve your credit rating – such as getting a credit card and then paying it back on time regularly, or paying off all your existing loans, or using loan consolidation in order to pay off debts with one larger loan that you can then pay back.
However in order to know whether you should go ahead with these strategies you first need to know the condition of your credit rating as it is. At the same time you also need to know what your credit rating is like before you apply for loans and even before you apply to rent a property. If you don’t then you can end up wasting time spent applying only for your application to be rejected, and …

8 February 2012

How to Check Your Credit

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How to Check Your Credit
Getting into debt is dangerous for many reasons, and among these is the impact it can have on your credit rating which can then make it difficult for you to apply for credit cards and general loans. Because your credit rating is a reflection of your previous ability to pay back loans, this means that lenders are weary of lending to anyone whose score is bad.
Fortunately there are several ways to improve your credit rating – such as getting a credit card and then paying it back on time regularly, or paying off all your existing loans, or using loan consolidation in order to pay off debts with one larger loan that you can then pay back.
However in order to know whether you should go ahead with these strategies you first need to know the condition of your credit rating as it is. At the same time you also need to know what your credit rating is like before you apply for loans and even before you apply to rent a property. If you don’t then you can end up wasting time spent applying only for your application to be rejected, and this will often cost …

24 August 2011

Understanding Credit Ratings

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Understanding Credit Ratings
If you’ve ever tried to take out a loan and found yourself rejected because of your credit rating, then you’ve probably also found yourself cursing the day that credit were ever conceived – and perhaps also wondering what good they could possibly serve. Here then we will look at credit ratings, what they actually are, and how you can work with yours rather than against it.
Credit is essentially any kind of loan – a credit card for instance is a card that allows yourself to give yourself small loans whenever you need them so that you can afford things on a day to day basis that you otherwise wouldn’t be able to – without needing to go begging to your bank. Of course car loans, mortgages and student loans all work in the same way. Now whenever a company hands out any kind of loan, that means that they are investing in you, just as someone might invest in stocks and shares. In other words, they are putting their money into you in the hope that you will improve financially and so be able to give them more money back as per your agreement. That means they’ve made …

6 July 2011

Getting a Car Loan (When You’re In Debt)

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Getting a Car Loan (When You're In Debt)
   When you’re in debt this effects more than just your bank account and can create all kinds of difficulties. For instance if you are struggling with debt then you will have a lot of difficulty getting out loans (which is bitterly ironic as this is when you are most likely to need a loan) and this covers everything from mortgages to business loans to car loans. That can then in turn effect your life in a lot of other ways as it means you can’t buy that car you wanted, you can’t move home or you can’t start that business. Here we will look at how to get a car loan even with bad credit so that you at least have transport.
The first course of action you can take is to look for bad credit car loans which are designed specifically for people who have low credit. These car loan companies charge slightly more than other car loan companies, but this then means that those paying higher rates and completing their payments help them to make up for those who do not manage to make all the payments on time (which theoretically …

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