Tuesday, July 28, 2015

Get Rid of Late Payments on Credit Report

Get Rid of Late Payments on Credit Report

It is a widely known fact that late payment can cause negative effects on one’s credit score. A simple 90 day late payment can have the same effect as that of a bankruptcy, a lien, a judgment or repossession. The amount does not matter as it can be as small as a $40 late payment or a $5,000 late payment as the only thing that matters is that you made a late payment and you must face the consequences that comes along with the tardiness. It should be noted that about 35% of my credit report is based on payment punctuality. Paying your bills on time is one of the many things that you can do to help you get a better and much higher credit score. Late payments have negative effects as it will give lenders and credit issuers a negative impression about your sense of responsibility when it comes to repayment. Remember that late payments can stay on your and my credit report for as long as 7 years after the missed payment. Imagine yourself enduring the long term effects of paying late for an amount that is not that big. If you are one of the many who has the goal of “remove late payments of my credit report, read further and follow the easy steps on how to do it. 1. Finding yourself going through a lot of “how do I fix my credit report?” moments by removing late payments, you need to acquire a copy of your latest credit report first. Take advantage of the free credit reports issued by the big three credit bureaus every 12 months. 2. The next step to fix my credit report by removal of late payments is by asking for a “goodwill adjustment” from the original creditor. This request will actually ask your lender to remove the late payment on your credit report. Most of the time creditors are more than willing to grant these “goodwill adjustments” requests of their clients, most especially those that the have good relationship with. 3. If the “goodwill adjustments” won’t work, you can also offer to sign up for automatic payments in exchange of the removal. This is a win-win situation for both parties as the creditor can be sure about payments to be made on time in the future and you are free of the terrible effects of late payment on your credit report thus you stop asking yourself how to clean up my credit report? 4. In cases where the late payment on your credit report is false, dispute it as inaccurate. Remember that credit reports are far from perfect, it pays a lot to check each and every thing that you can finding it as there might be errors which you would not be able to see if you won’t exert extra effort in reviewing it over and over again. Remember that whatever the credit bureaus can not prove they have to remove.

http://williamnock.articlealley.com/get-rid-of-late-payments-on-credit-report-1823594.html

Sunday, July 26, 2015

How to repair your credit in 10 steps

How to repair your credit in 10 steps

Step one – Get copies of your credit reports. Once you have your credit reports in your hand, review them carefully for inaccurate information. After reviewing them and you find errors, use a sample dispute letter that you can find on the internet to dispute the errors you found. Send this letter by way of certified mail and return receipt. The credit bureaus has 30 days to investigate the inaccurate information and get back with you. If they cannot complete the investigation within 30 days, then according to THE FAIR CREDIT REPORTING ACT, they must delete the item. Step two – If 30 days has past and you still have not heard from the credit bureaus, then send out a follow-up letter restating the inaccurate information in your credit reports. Step three – Once you get your credit reports back after the 30 days and you notice that the errors have not been corrected, then send out a more threatening letter using the language from the FAIR CREDIT REPORTING ACT, Step four – After receiving your credit reports for a fourth time, and the credit bureaus still have not fixed the errors, then you will inform the credit bureaus that if they don’t fix the problems in your report, you will file a complaint with the Federal Trade Commission. Step five – Still have not seen any changes in your credit reports, then file a complaint with the Federal Trade Commission and attach a copy of your complaint to your 5th dispute letter. In the 5th letter you will inform the credit bureaus that you will file a complaint with the office of the Attorney General. Step six – Still no changes to your credit reports, then file a complaint with the office of the Attorney General and attach the complaint to your 6th dispute letter. This time in this letter you will inform the credit bureaus that you will file a complaint with their state Senators office. Attach your complaint to the Attorney Generals office with your 6th letter. Step seven – Still no changes to your credit reports, then write the credit bureaus and inform them that if the errors on your credit reports is not fixed within 30 days, then you have no other choice but to seek legal advice. Step eight – Still no changes to your credit reports, then send a letter to the credit bureaus threatening to sue for failing to properly investigate the errors on your credit report according to the THE FAIR CREDIT REPORTING ACT. Step nine – Still no changes to your credit reports, then sue the credit bureaus in small claims court. Seek the advice of an attorney or contact the courts for the proper procedures on filing. Once you have filed your complaint, send a copy of your complaint along with a letter informing the credit bureaus that you are suing them and that they have 15 days to respond and correct the problem on your credit report. Step 10 – Still no changes to your credit reports, and the credit bureaus has not responded to your letters, then proceed with the suit in small claims court. For more information on credit repair and personal finance please visit my site at http://www.creditrepairmaster.info. Your Credit repair coach Mark Clayborne CEO & Founder http://www.creditrepairmaster.info. http://creditrepairmaster.blogspot.com/ credit@creditrepairmaster.info Mark Clayborne has been providing coaching to his personal friends and clients for the last 5 years in the area of credit repair and personal finance. He is also the CEO and Founder of http://www.creditrepairmaster.info. a company which specializes in providing the customer with best possible credit repair information in the country. For more information on credit repair and personal finance please visit my site at http://www.creditrepairmaster.info. Related Articles – How, to, repair, your, credit, in, 10, steps, Email this Article to a Friend! Receive Articles like this one direct to your email box!Subscribe for free today!

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Friday, July 24, 2015

Credit Reports with Missing Accounts

Credit Reports with Missing Accounts

It is not necessary for all creditors to report to the three credit BureausEach one of us has three separate credit reports which we can obtain from the three national credit reporting bureaus: Experian, Equifax and TransUnion. When you obtain of the free credit check and discover that loan accounts or lines of credit are missing, it only signifies that the lenders must not have reported your credit history to all of the three credit bureaus. According to the Fair Credit Reporting Act (FCRA) that lends freedom to lenders and creditors over reporting credit activities, they are not bound to convey your account or the activity to all of the three credit bureaus. Many times, the lenders and the creditors may report your account to only one or two credit bureaus. This is the main reason why some accounts are displayed on some but not on all the credit files.Missing accounts from credit makes differenceWhen constructing a positive credit history, flaws in the credit statement are reasons why credit score varies. They are calculated based on the information available from each of the three credit bureaus. When you apply for a new loan or the line of credit; creditors and lenders could monitor any of the three credit reports, if there is one that has negative information, unfortunately, you will be denied due to your bad grade. Therefore, it is very important to take care of the inconsistencies present in each report as they are significant.Along with being honest toward your payments and credit, it is also essential to monitor your statements more often. This is to remain clear about the changes happening in your statement. Moreover, it is not mandatory for lenders or creditors to abide by your request to check your history from the credit bureaus. Rather, you should be the one to pull your reports from the three agencies and carefully go through every detail mentioned and check for missing accounts. If there is any account missing, you can write about it to the respective credit agency supported with copies of the evidence. Looking for a free credit score report? Get credit check with unlimited access to your report and credit check for 30 days, credit monitoring and credit alerts. Related Articles – credit report, credit score, credit scores, credit check, free credit score, freecredit, Email this Article to a Friend! Receive Articles like this one direct to your email box!Subscribe for free today!

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Errors in Your Credit Report Here is the Fastest Way to Get Them Corrected

Errors in Your Credit Report Here is the Fastest Way to Get Them Corrected

The 60 Minutes television show recently reported the high amount of errors in consumer credit reports. While a significant amount of these are errors that might be remedied through the regular channels involving writing the credit bureau, millions of people are unsuccessful in getting the errors taken off the credit reports. The outcome can be not just expensive but life-changing: a. The Inability to acquire a loan to get a home or perhaps a car or schooling b. A reduced credit score requiring increased payments with regard to loans you do obtain c. Never-ending troubles in the case of id theft The issue is that the credit reporting bureaus will just take the consumer’s problem and pass it along to the creditor, i.e. the bank.The financial institution then transmits back data to the credit bureau that the information in the credit bureau’s documents coincides with the data of the financial institution. Case closed: the consumer is told tough luck. So the instructions which explains to individuals to commence with the credit agencies to take care of errors in their credit history is only a waste of time because the credit bureaus will resolve nothing at all and simply report information the lenders provide them. The better plan of action is to go right to the creditor to take care of their records. Obviously, in the most of situations, your creditor will simply claim that their information are accurate and you, the consumer, are basically wrong. I had this happen to me twice, with 2 well-known finance institutions. In the two instances, I lost several months trying to get the error corrected using the typical channels, first contacting the credit reporting agencies and then directly with the creditors. I even used a company that markets quite a lot as being able to fix your credit report errors and they just replicated the measures that I had previously done. I then discovered the ultimate solution. I sued the lenders and credit reporting agencies in small claims court. This solution is enormously powerful for several reasons: a. In some states, the financial institution will not be able to dispense with an individual as easily as they want. Typically, any formal legal action is taken care of by their legal division and they have a nicely organized method for reacting through legal channels. However, in some states their overpaid lawyers are of zero value because lawyers are not allowed in small claims court. Therefore the financial institution, in order to appear or reply, must do so using non-legal workers. This is bothersome and costly for them as they don’t have a process for this. It’s much easier for your lender to simply fix your credit record. b. In states in which they can utilize their legal department to respond, the problem for the financial institution is that the reply must be by physical appearance at a small claims court hearing. This is expensive because an individual might need to hop on a flight and spend lots of time and cost in dealing with your complaint. It’s less difficult for the lender to simply change your credit history. c. Filing a formal law suit may be the only way to get the attention of anyone with brains or perhaps authority at the creditor. Before you do so, you will end up dealing with clerks and automatons that simply repeat the identical organization policy over and over and you get nowhere. Once you get the attention of thinking individuals, oftentimes it becomes quickly clear to them, that they need to change your credit profile. d. You have the attention of the correct individuals and make yourself a thorn in their posterior for less than $100, which is the common expense of processing a suit within small claims court. Consequently, folks can either squander months of time and have a great deal of despair along with frustration or get the e-book that explains in detail how to appropriately file the claim in small claims court, get the claim to the correct folks and have ones credit report fixed within 60 days: get ebook here. See more on financial and retirement issues at the Retirement Blog

http://bobrichards.articlealley.com/errors-in-your-credit-report-here-is-the-fastest-way-to-get-them-corrected-2436880.html

Thursday, July 23, 2015

Erase Bad Credit And Clean Up Your Credit Report

Erase Bad Credit And Clean Up Your Credit Report

In today’s economy as a result of the mortgage collapse, banks have drastically changed their approval requirements. In the past when you could get approved for financing with no money down, no income verification, employment check, and a bad credit score are long gone! Now when you apply for financing a purchase, if your credit score is below a 700 you will often be denied. One of the most common reasons a credit score is lowered is because negative information is on the credit report. According to FICO the national credit scoring company that determines and provides your credit score. Your payment history which is the same thing as your credit history, is one of the most important pieces of information when your credit score is calculated. It is responsiple for 35% of your overall score in the formula FICO uses to determine your credit score. How Can You Erase Bad Credit Items On Your Credit Report Congress has provided you the tools to erase bad credit, in the form of the Fair Credit Reporting Act. This is a federal law that gives you the power to dispute any item on your credit report. The legal standard for you to file a credit report dispute, is simply you believe the item is questionable or a mistake. In other words it is not illegal and you will never face any criminal or legal prosecution for disputing an item on your credit report! It is you right to file a credit report dispute, and this right is protected by federal law just like your right to vote. It’s a good thing that Congress passed this law because if not you would have all sorts of incorrect information on your credit report. Experts estimate that one in every four credit reports contain an error, and if you then consider lender and customer disputes you have some more at least questionable items. The first step you need to take to erase bad credit is to get an updated copy of your credit report from all three major credit bureaus (Equifax, Experian, and TransUnion). Next you need to identify what items you believe are inaccurate or questionable on each report, and the items you want to dispute. You are going to have to either write a credit dispute letter and mail it to each credit bureau or you can hire a professional to perform the dispute process on your behalf. Frequently individuals turn to a professional because the credit bureaus will respond to your dispute in hopes of frustrating you and getting you to give up on your dispute. However it is federal law that the credit bureaus do follow up and investigate consumer disputes. The credit bureaus have actually been fined by the FTC for violating the Fair Credit Reporting Act by avoiding consumer disputes as recently as the year 2001. The credit bureaus agreed to collectively pay a $2.5 million FTC fine because they had ignored phone calls to the toll free 1-800 the credit bureaus have posted online and because the bureaus made other consumers wait an unreasonable amount of time. Make sure you take action to protect your credit report and use all your government given rights to erase bad credit marks that are incorrect, inaccurate, or unverifiable. Stop paying the high cost both financially and personally for having bad credit and get started today. —— For more about how to erase credit visit us and for more about how a credit repair company can help you dispute your credit report visit YourBadCreditVisa.net or call 1-800-483-0256.

http://arnoldtotelesky.articlealley.com/erase-bad-credit-and-clean-up-your-credit-report-2430824.html

Wednesday, July 22, 2015

Removing a Judgment from Your Credit Report

Removing a Judgment from Your Credit Report

Having a judgment on your credit report can really harm your credit score. When deciding how to handle a judgment you have only three choices. The first choice being to pay the judgment in full and received a judgment satisfied status on your credit report. The other option you have when trying to remove a judgment from your credit report is to dispute the item with the credit bureaus. The other thing you can do to have the judgment removed is to go to your local court house and try to have it vacated. Removing a judgment from your credit report can be stressful. What is a civil judgment? A civil judgment is put against someone, a debtor, who has not paid money that was due to a creditor. Once the debt has not been paid, the collector of the debt can take that person to court and force the debtor, the person who owes the debt, to pay up. Once a judgment is filed, the creditor can put a lien against anything that the debtor may own such as real estate, wages, and any bank accounts. Once the creditor places a lien against a house the debtor will receive his money when the house gets sold. The judgment gets paid off before the property can be transferred to a new owner. Did you know that if a judgment is large enough, the debtor can foreclose on the property to get their money? With the assistance of the town sheriff, a creditor can have them take other items owned by the debtor who owns the money, and sell it at a public auction. Judgments that are not taken care of can tremendously damage your credit score. Once the debtor pays the debt off, the debtor can have the creditor report the judgment as satisfied with the credit bureaus. The debtor can try to negotiate with the creditor to see if the creditor will remove it from their credit report all together. You can try disputing the judgment directly with the credit bureaus. Sometimes getting the credit bureaus to remove a judgment from your credit report can be exhausting. They have 30 days to find out information about the judgment and if, in fact, the judgment is not yours then they will remove the judgment after 30 days. But if the credit bureaus continue to report that the judgment is yours then you will have to take the matter to court. If the judgment in question is not yours, then you can go to court to appeal the judgment. Make sure you bring any proof you may have to court. Once you win the case, the judgment will be vacated. A vacated judgment just means that the judgment has been canceled. After receiving papers from the courts stating that the judgment has been vacated, supply a copy of the vacated judgment to the credit bureaus and they will remove it from your credit report immediately. http://creditrepairiinformation.blogspot.com

http://technicalsavvy.articlealley.com/removing-a-judgment-from-your-credit-report-898584.html

Tuesday, July 21, 2015

Credit Reports – Secure Your Company

Credit Reports – Secure Your Company

Functioning company credit checks on latent and obtainable customers should be a daily fraction of business life, yet many companies are still parting themselves unbolt to the hazard of bad debt by not functioning such checks. Conducting credit checks throughout company credit reports will regularly grant a credit score – allowing businesses to make improved clued-up decisions about whether to expand credit or not. But even as functioning such checks sounds like widespread intelligence below a 31% of UK companies carry out a credit check earlier than trading. And this looks reprehensible when you regard as that almost half of UK businesses have mislaid money in the last year while trading with any more companies. At the same time as these statistics are appalling, we will currently observe several other reasons why reviewing corporation credit information and additional credit inspection tools is fundamental to ensuring your selling sensation. Make sure Cash flow: Deprived cash flow supervision is one of the prime reasons why businesses are unsuccessful. The risk of this can be stemmed by performing a credit check on any business you are bearing in mind extending credit to. This apply at the same time as greatly to offered patrons as it does possible regulars, hitherto in the last year 47% of companies botched to accomplish any check on a company previous to inflowing an conformity with them and 84% of companies provided supplies to presented clientele with no revisiting their company credit account. Some credit orientation agencies now comprise payment performance which looks at how rapidly companies disburse their invoices inside their company credit reports allowing entrepreneurs to sketch their cash flow to be more precise and in the end whether to lengthen credit by any means. Set up satisfactory Credit Limits: Most top credit location agencies today not only contain a credit rating in their company credit hearsay but a credit perimeter also. This will assist you determine the intensity of credit you should widen to a company and supply some composure that the company will know how to meet its financial commitments. Recognize the business A company credit report will not only encounter the falsified company addresses and so on but should in addition demonstrate director in sequence. This information will permit you to appraise preceding directorships which can endow with a vigorous imminent into the recent directors’ facility to activate the business is a lucrative approach. Depiction fake Companies It is a gloomy detail but in current days there has been an increase in deceitful deeds where crooked persons are pretentiousness as real companies in a proposal to ploy companies out of their products and services. The fact that 7% of UK companies have fallen fatality to this type of scam in the last year unaccompanied highlights that this action is, unluckily, flattering more of an anxiety. Functioning a company credit check would rally round defend next to this ominous behavior as you can be certain that the company does in fact subsist. Sales competence: Performing credit checks throughout company credit report is a very competent way to spot new business improvement targets. For details of our credit report,Please Visit our website Creditreport.org Related Articles – credit, report, Email this Article to a Friend! Receive Articles like this one direct to your email box!Subscribe for free today!

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Monday, July 20, 2015

How Inquiries on Our Credit Report Can Lead to Low Scores

How Inquiries on Our Credit Report Can Lead to Low Scores

A personal check on your credit report is not encouraged, it’s necessary. But did you know that credit inquiries made against your financial credit report from actual organizations and companies can lead to lower your credit score? All inquiries are reflected on your report for the next two years. At the time of calculation of the grades,10% of them are influenced by the inquiries. Needless to say that it is vital to pay attention on the number of credit inquiries madeon your credit report from the three credit bureaus.Credit inquires affecting credit report A simple credit card application can already lead to a credit inquiry on your report. Two inquiries merge into one whentwo credit card applications occurfrom same bank in one day. However, many of us are curious to know whether a business and personal card inquiry made on the same day and bank will lead to one inquiry or two. Remember that business and personal inquiries do not merge. It is vital to keep one informed about inquiries.Therefore, one should always keep track of the inquiries and their effects onyour credit report.Below are some other factors, which can enhance your credit report and also improves your score.1. You should avail of your free credit report to see the details of credit card debts, loans and credit lines.2. Pay attention tomaking payments on time; also carry minimum payments on your credit cards every month.3. Debts related to credit card should be paid on time.4. It is desired to focus on cards and their payments.5. One should dedicate attention towardsindividual borrowing and must also pay using cash when you can.6. Credit grades can be ruined by shutting the card with big credit line.7. Marketing ploys and offers in your mailboxpromising to free you from debts in two or three years should be ensured of doing it. As dishonesty in commitment will makecredit card companies to sue you.8. You must only agree to the amount which you can easily pay off. Also, ensure to have something in written when collection agency acquire the debt amount.9. Your monthly amount used for paying debts has to be less than 36 percent, as it can make you suitable for attaining mortgage.Looking for a free credit report? Check your credit report with unlimited access to your report and credit score for 30 days, credit monitoring and credit alerts. Related Articles – credit report, credit score, credit check, free credit report, free credit score, free credit check, Email this Article to a Friend! Receive Articles like this one direct to your email box!Subscribe for free today!

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Saturday, July 18, 2015

Credit Cards To Build Credit – What Your Card Must Offer

Credit Cards To Build Credit – What Your Card Must Offer

If you’re looking for a credit card to build some positive listings on your credit report then you must use caution and fully research the card offer, to ensure that it will provide you with what you are really looking for. Many credit cards that are designed for individuals with a less-than-perfect credit history will masquerade themselves as cards that can fix your credit. The single most important factor you must look for in a credit card to build credit is if it will report to all three of the major credit bureaus monthly. Do not fall victim and apply for a card that only reports to one credit bureau because this will do nothing to improve your other two credit reports. You should already be aware of this but if not you must use your new credit card responsibly. If you use it responsibly then it can create a record of positive payment history and responsible credit use, however it can just as easily create additional bad credit and damage your credit score if you use it irresponsibly. Secured Card v.s. Unsecured Card If you’re unfamiliar with a secured credit card, it is one that you must first make a deposit that is fully refundable, FDIC insured and you are then issued a credit card with a credit limit equal to the amount of your deposit. For example if you deposit $400 then your credit card will have a limit of $400. These offers do carry an interest rate of roughly 10% and you should expect to pay an annual fee of about $50. You must do due diligence because some of these secured credit cards will only report to one credit bureau however there are many offers available that will report to all three bureaus, you need to get the card offer that will report to all three credit bureaus. Unsecured credit cards are where you get a credit card and are extended a credit line. In other words you only have to promise to make payments and repay any money you borrow. These cards will carry a much higher interest rate because it is much riskier lending. If you have not heard a few years ago Congress passed new lending legislation that specifically targeted unsecured credit cards designed for individuals with bad credit. Congress created maximum fees and maximum interest rates and essentially dissolved the unsecured bad credit lending market. There are no unsecured credit cards for individuals with bad credit available today. Instead we have seen the banks almost instantaneously find a way to sidestep new government regulation and continue to lend money to individuals with some past financial mistakes on their credit histories. The banks were able to sidestep the new lending laws by offering a partially secured credit card. In other words you must make a deposit to secure your account, and then you are extended a credit limit of more money than your initial deposit. If Congress had problems with unsecured credit cards for poor credit prior to passing their new laws, they must be in uproar about the partially secured credit card offer. The most popular of these cards charges you over 35% APR, and up front $75 fee, a $95 processing fee, and an additional $7 monthly fee. These new partially secured credit cards do not receive our seal of approval and instead we encourage you to get a fully secured credit card. These cards have minimal fees and you can deposit as low as $300 and get issued a credit card with a $300 limit. A secured card offer is a much more effective method of using your time and money. Make sure you read all the fine print and know exactly what you’re applying for before you submit an application for any card offer. —— For more about credit cards to rebuild credit and for a review of how the orchard bank secured card works and can be used to potentially build positive marks on your credit report visit us, you can also call 1-800-483-0256 and get a free credit repair consultation today.

http://jacobeylarstons.articlealley.com/credit-cards-to-build-credit–what-your-card-must-offer-2429419.html

Wednesday, July 15, 2015

Top 10 Reasons to Build Business Credit

Top 10 Reasons to Build Business Credit

Will your startup ambitions become a reality for you in 2012? In a recent study 70% of Americans indicated they want to start their own business but many never take the leap because of lack of knowledge and direction. Let’s face it, starting a business can be intimidating and risk of the unknown is one major hurdle that few are willing to deal with. With a job there tends to be this perception of security and certainty. You show up for work, do your job, and get a paycheck. But in today’s economy, job security is nonexistent, and more and more people are embracing the idea of owning their own businesses. Business ownership and being in control of one’s income is the assurance that people are looking for. Unfortunately, for the people who do make the leap and start a business, a large majority fail within five years according to data from the U.S. Small Business Administration. I bring this up because one of the major causes is lack of funding. While bootstrapping is common among startups it can only take you so far and if the business fails, you may face a lot of personal debt and liability. Here are my top ten reasons to start building business credit in your company’s name: 1. Protect your personal credit ratings – With corporate credit your business debts and financial obligations would report only on your company’s credit reports. 2. Protect the corporate veil – By separating personal and business credit, you eliminate the risk of co-mingling funds-and this includes the “co-mingling” of credit. 3. Limit personal liability – By building a creditworthy company, creditors and lenders will be less likely to require a personal guarantee to secure financing. 4. Conserve cash flow – Many suppliers, businesses, and vendors will extend credit to your business with net 30 to 60 day terms. This allows you to conserve cash while obtaining the products and services your business needs. 5. Limit accumulating personal debt – You can obtain financing for your company without supplying a personal guarantee. Funding programs like accounts receivable financing, trade credit, and merchant cards protect you from facing a lot of personal debt. 6. Maximize financing opportunities – Many lenders, creditors, and suppliers will only extend credit to businesses that meet their corporate compliance guidelines. This includes a business credit listing and ratings with the major agencies. 7. Build a business asset – A business with established credit history and available credit is attractive to potential buyers and investors. It improves the appearance of your businesses’ funding capacity and stability. 8. Limit inquiries – With business credit you stop relying on your personal credit to obtain financing, which limits the amount of inquiries being pulled on you personally. 9. Receive larger credit limits – You can obtain 10 to 100 times greater credit limits from lenders as an established creditworthy business then you can as an individual. 10. SAVE MONEY! Businesses obtain more favorable rates on lines of credit compared to an individual. For example, you may pay up to 13% interest on a $100,000 line of credit whereas a business could qualify for an interest rate of 7%. That would save you almost $40,000 in interest alone. As a startup you will eventually need an influx of cash to cover an unforeseen expense so start establishing business credit in your company’s name today. Quit jeopardizing your personal credit and run the risk of closing your doors due to a lack of funding. Make 2012 your year for establishing a creditworthy business! —— About the AuthorMarco Carbajo is founder of the Business Credit Insiders Circle. For more information on building business credit visit Marco on Twitter @MarcoCarbajo or visit his blog for tips about getting business credit.

http://marcocarbajo.articlealley.com/top-10-reasons-to-build-business-credit-in-2012-2415865.html

What Credit Score Do You Need to Buy a New Car

What Credit Score Do You Need to Buy a New Car Download – Stock Photofrom © Dreamstime.com While many banks have failed to pass “bailout” gains to consumers, GMAC is using its $5 billion to get car sales moving.After receiving these funds, GM immediately offered 0% financing for up to 60 months on many of its least popular models. Other loans offered carried rates ranging from 0.9% to 5.9% on dozens of other models – and lowered the required credit score from 700 to 621.Under the terms of a new agreement between GM and GMAC, which is to be finalized by December 24, 2013, GM will no longer be required to fund below market rate loans through GMAC and GMAC no longer has to finance GM vehicle leases. These leases have been costing GMAC money because of the sharp drop in trade-in values in recent months.This change stems from GMAC’s transition to a bank holding company, which gave GMAC access to part of the $700 billion set aside to bail out the financial industry.After news of the bailout, GM shares went up 14% in trading on January 2.In return for the $5 billion handed to GMAC, the Treasury will get five million GMAC preferred shares, which are supposed to pay 8% interest.The penalty if GMAC can’t make the interest payments? If they are unable to pay for six quarters, the government will have the right to elect two members of the GMAC board.If you actually need a new car and are willing to drive one of the least popular models, now is the time to buy. At 0% financing for 60 months, you should be able to pay for the car without paying any interest payments. Get a copy of your credit report and check your FICO scores – if they’re at 621 or higher, you’re eligible for a loan. Of course, the 0% may be a teaser rate, made available only to borrowers with scores over 720, so it’s still the best idea to get your scores as high as possible before you go shopping. Remember to guard your personal information until you’ve chosen the car you want. Don’t shop every lot in town and allow each dealer to access your credit report.In addition, take a copy of your credit report with scores along with you. Some disreputable dealers, believing that consumers don’t know their own credit scores, attempt to drive interest rates up by telling buyers that their scores are too low for the best rates – when in fact they are not.Ask questions. Find out what score qualifies for what rate before you allow the dealer to access your credit report.——CreditScoreQuick.com your resource for free credit report, credit cards, and free credit repair.Video Source: Youtube http://mikeclover.articlealley.com/what-credit-score-do-you-need-to-buy-a-new-car-750268.html