Most people want to be sexy and have a toned body. To achieve this, you might want to go to the gym often. However, this would take quite some time. Once you achieved the body you always dreamed of, you must keep working out to stay in shape.
Well, same goes for a credit score. It would take a long time to boost your credit score most especially if you had a bad credit record history. You should start making up your debts. Remember to always pay on time and continue maintaining your good credit score. Here are some tips for credit card holders on how to increase your credit score.

First thing you should do is to pay your credit dues … (more) May 19, 2009

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Did you know that closing credit card accounts will most likely lower your FICO credit score?  It seems counter-intuitive at first, after all – why should reducing the amount of credit cards you have in your name cause your credit score to drop?  With less credit cards to use, you have less temptation to overspend, right?
Maybe so, but that’s not the way the credit scoring company looks at it!  What happens when you close a credit card account?  It reduces the amount of available credit you have.  When you decrease the available credit you have, you immediately increase the amount of debt you have in relation to the amount of credit you have available (called debt utilization percentage).  The higher … (more) May 12, 2009

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There are so many consumers who have fallen behind on credit card payments and other financial obligations it seems no longer taboo to admit you have had some financial setbacks. In fact, getting help to control your debt is a popular topic these days as many consumers realize the seriousness of debt.
Every individual can be credit worthy again, not matter what happened in the past. Being credit worthy allows you the option to select from the best rates and terms for credit cards, loans, mortgages, and the like. Getting a boost to your credit score is even more important now than ever before because it takes a higher credit score, 730 +, to be deemed as having excellent credit. Rebuilding … (more) May 10, 2009

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Most consumers know that paying off debt is the best way to find financial security and improve your credit. As with all other things in life there is always an exception to the rule and paying off debt is no different. While it is true that making timely payments and keeping your debt-to-credit ratio low is a good way to improve your credit score, paying off old debt may not have the same effect.
Reviewing your credit report has long been recommended as the first step toward understanding and improving your credit. By reviewing your report you are able to dispute inaccurate reporting and see older accounts that may be causing your score to currently suffer. If you have charge-offs, accounts … (more) April 30, 2009

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With so much going on financially in the world, more people are getting desperate for fast money. Sadly, even during such hard times for people, there are still the miscreants who are willing to do just about anything to get their hands on your identity and other financial information.
During a recent gathering of select industries during National Consumer Protection Week, a wide array of groups including the Federal Trade Commission, the Better Business Bureau, and even AARP, representatives each told varied tales of how important it is for all people to keep an eye on their personal information – a very close eye. The AARP group was represented because the age group it typically represents is more susceptible to fraud … (more) April 27, 2009

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Everyone knows that the FICO score is calculated to determine an individual’s overall credit risk. You have a 3 digit number between 300 and 850 which describes you to lenders. The higher your number, the less risky you appear to the lenders and the more likely you are to get approved for credit with good interest rates.
In addition to the FICO score, people are also rated on other categories and spending habits, including:
Revenue – using information from credit reports, lenders determine how much revenue a particular cardholder would likely generate for the credit card company.
Response Rate – a score given to individuals that describes how likely they are to respond to a credit card promotional offer. This … (more) April 25, 2009

Posted in Credit Card Advice, Credit Card General, Credit Card Tips, Credit Score, Promotional Offers Comments Off