Clawing Your Way Back Up

You know, when your credit score is really bad, it can seem like there is no point whatsoever in trying to improve it.  You know what I’m talking about, how many times have you or someone you know made the simple statement, “My credit score is so bad, I’ll never be able to buy a house (or a car, or anything else).”   The truth is, it can be daunting when you think about clawing your way back up to a decent credit score, especially if you’re starting at the bottom of the credit pit.  And sadly, that alone is enough justification for some people to just give up, accept that they will have damaged credit forever, and never do anything to change it.  But it can be done.

That’s right, no matter where you are on the credit scale, you can claw your way back up to a good or even an excellent credit score, as long as you are determined to work on it.  Note that I said determined and work.  Regardless of what anyone tells you, improving your credit score will take a lot of determination, a lot of work, and a certain amount of time.  But, if you never start the journey, then you will never get to the destination that you have in mind.

So where do you start?

First and perhaps foremost, you need to take the time to review your credit report, find out what your credit score is, and then make a plan for improving it.  And, by simply using the  technology at your fingertips, it’s really easy to get your credit score and your credit report at no cost, sign up for credit monitoring and protection, and keep a close eye on your progress.  (Some scores are updated weekly, some monthly, and a few quarterly.)  Once you know your credit score, depending on what range you fall into, you can start improving it by opening new accounts to increase available credit, paying down debts to get below the 30% credit utilization, or disputing things that are wrong on your credit report.

Now, if your credit score is really low, your choices will be limited when it comes to signing up for new (or even any) accounts.  But, keep in mind that there are a lot of other people who are in the same boat that you’re in, so there are options to start rebuilding your credit.  The most popular options are secured credit cards and catalog shopping cards, and there are companies that will work with you to make sure that you get the credit you need to start clawing your way back up the ladder… but, just like I mentioned in the beginning, if you don’t start, you’ll never get there.

Here are a couple of options to start rebuilding your credit today:

 

 

Is Good Credit Worth the Effort?

One of the biggest hurdles that you’ll ever face once you’ve had a credit setback is not what you think it might be… It’s not that no one will give you credit because you have bad credit.  It’s not that you have to find other ways to pay for things because you can’t get credit.  It’s not even that your credit is keeping you from getting the job, the car, or the home that you want.  Those things might be a problem, but they are not the biggest problem.

The biggest problem that you’ll face when your credit score hits rock bottom is convincing yourself that it is worth the time and the effort that it takes to recover from bad credit.  That’s right, the biggest hurdle you’ll face is the one within.  You see, when your credit score really tanks, you start to think that you will never be able to get it back up to where you’ll need it to be if you ever want to be able to buy another car, get a different apartment, buy a house, or even change jobs because your credit is so low.

And, standing at the bottom looking up, it really does seem like an impossible task.  So, you start to wonder, “Why bother?  I’ll never get my credit score back on track.  Never be able to get another credit card.  Never be able to buy a new car at a decent interest rate.  Never get that house.  So why even bother trying?”   Sound familiar?  I’d almost be that everyone who has ever had their credit score bottom out has felt that way at one time or another.  And they are right to an extent – it would be far easier to simply give up and accept that your credit is bad and that it is going to take some time and effort to rebuild your score.  But has the fact that something is going to take a little time and effort ever really stopped anyone who has ever really wanted something?  No, it hasn’t.  And that’s why you cannot give up on your credit score.

Ask yourself these questions:

  • How bad do you want that new car?
  • How bad do you want that house?
  • How bad do you want that dream job?

And now, ask yourself this, how hard are you willing to work for it?

Just like anything else that you really want, rebuilding your credit takes work.  Sometimes it will be hard work, other times not so hard.  But you will find that, if you start right now, TODAY, and you work as diligently at improving your credit score as you do at every other thing in your life that really means something to you, you will get there.

You will rebuild your credit score.  But you cannot do that unless you actually begin.  Now.  Today.

Christmas Shopping? Already?

This past weekend, I happened to be out and about shopping, running errands, and visiting.  It was unseasonably cool, with cloudy skies and a little rain, and the unmistakable feeling of Autumn was just there.  I’m not sure if it’s the total eclipse that is coming to our area within the next couple weeks, or what, but it’s there.  Of course, that automatically set me to thinking about the upcoming holidays, how much Christmas costs each year, and just how I plan to pay for all those gifts!

Fortunately, I signed up for a Fingerhut account a few years ago, so even if money is tight, I can still get all of my Christmas shopping done without ever leaving the house!  I just log onto my account, browse the hundreds of thousands of name brand, competitively priced gifts, place my order, and in no time at all, those boxes start showing up on my doorstep.  What could be easier?

And you know what’s even better?  There’s no ugly surprise come January with Fingerhut because I know when I place the order exactly how much my monthly payments will be!  That’s right, every item shows both the full price AND the monthly payment amount, so you know if you can afford it or not before you place your order – and let me tell you, if money is tight, knowing that ahead of time can make all the difference in the world when it comes time to pay the bill.

What about you?  Have you started planning this year’s Christmas budget?  Maybe you should consider a Fingerhut Credit Account issued by WebBank !

Worried you might not qualify? Fingerhut is known for working with those of us whose credit is less than perfect! Not only do most people qualify for Fingerhut, but opening a Fingerhut account will usually help you to improve your credit score (as long as you use your account responsibly, of course).

So go ahead, what are you waiting for? Get started on your Christmas shopping today!

 

Could Bad Credit Wreck Your Lovelife?

Although most people don’t really think much about a potential partner’s credit score when they’ve just met someone, once the relationship begins to develop into something more long term, having credit scores that are polar opposites can cause problems when finances and households are combined.


In fact, about 40% of the population indicate they might just cool things off in a hurry if a partner has a bad credit score… sadly, unless you’ve had a serious financial setback such as losing your job, getting a divorce, or having a catastrophic illness, having a poor credit history is often viewed as an indicator of your overall level of financial maturity.  Not paying your bills on time (or at all), running up the balances on credit cards, and even letting Mom & Dad pay for your car insurance or your cellphone are all indicators of irresponsible use of your money, and sadly, may appear to be a sign of how you’ll handle combined assets in a long term relationship.  (Likewise, if you’re the one with good credit, and the person that you’re seriously involved with has a poor credit score, wouldn’t you be concerned if finances were to be combined in the future?)

So, what do you do?  Even though you don’t want to know (or share) your financial details on the first date, it is a good idea to talk about your finances early on, before you start planning the wedding!  And if your credit is bad (or your partner’s credit is bad)?  The first thing that you need to do is to sit down and talk about it, openly and honestly.  Then, make a plan together to improve your (or his/her) credit score – and stick to it.

Study your credit reports, fix any errors, and start working on those areas where you’ll see the most improvement:  Payment History and Available Credit!

Not only can a poor credit score affect your relationship, but a poor credit score can also lower your partner’s/spouse’s credit score, and make it more difficult to buy a home or car, and seriously limit your job prospects.

Bad Credit Characteristics

Ever wondered exactly how some people end up with terrible credit?  What are the common characteristics of those at the very bottom of the credit scoring scale?  Are there things that you can do to avoid ending up with bad credit?

Generally speaking, people with poor credit (defined as a 300-600 score) tend to:

  • Make late payments
  • Pay only the minimum amount
  • Carry high percentage balances on multiple cards
  • Apply for multiple lines of credit within a short period of time

See yourself in any of these characteristics?  If so, then you need to make a concerted effort to start making your credit cards, car payments, house payments, etc., on time, work toward paying down the balance on credit cards, and stop applying for new credit cards.

It’s also a good idea to regularly review your credit reports for accuracy, as your credit score can be lowered considerably by inaccurate information.

 

Christmas in July?

For the past couple of weeks, I’ve seen lots of Christmas in July advertising… there’s always a Christmas in July Sale going on at one store or another and there’s even a special Christmas in July week on one of my favorite channels.  But let me ask you this.  Are you ready for Christmas this year?  Even if it is only July, have you thought about how you will pay for Christmas this year?

If your credit is less than perfect, it’s actually time to start thinking about this year’s Christmas season.  Otherwise, December will roll around, and you won’t have the money saved to buy gifts!  And if you have bad credit, getting a last minute credit card set up for the holidays can be tough.  There is a better way!  Why not start planning for Christmas now, in July?  Then, when December rolls around, you’ll be all set!  Believe it or not, one of the best ways to start planning for this year’s Christmas is also one of the best ways to get a FreshStart on your credit!

That’s right, get a FreshStart on your credit AND get the credit you need, and it all starts with a Fingerhut Credit Account!

Setting up an account with Fingerhut has never been easier!  And, Fingerhut has a special program just for those of us with less than perfect credit.  You start out with a lower credit limit BUT if you make your payments on time, every time, they will re-evaluate your account regularly and chances are, your credit limit will increase over time. So why wait?  Get started with Fingerhut today and you’ll be ready to celebrate when Christmas in December rolls around!

Find out instantly if you’re pre-approved with Fingerhut Credit.

  • Shop over 630,000 items from great brands like Samsung, KitchenAid and Dewalt
  • Take advantage of low monthly payments1 with a WebBank/Fingerhut Credit Account
  • Fast, easy online application process and a quick decision
  • 1If you apply and are accepted for a Fingerhut Credit Account issued by WebBank , who determines eligibility and qualifications for the terms of credit

Apply for a Fingerhut Credit Account issued by WebBank .

Get low monthly payments with no annual fees or overlimit fees. Shop from thousands of trusted brands. Apply Today! 

Quick view of the Policies and Procedures of Payday loans online same day

Payday loans online same day is an ideal productwhen there is an urgent need of cash. It is an avenue for easy and instant cash. Many financial firms offer an access to fast cash through same day loan product. With a fixed source of income,nothing can be swifter than gettingloan within 24 hours. Here’s a brief account on payday loans online same day.

Requirementsthat need to fulfilledfor a Payday Loan

There are a few simple requirements for getting a loan. First, a person has to be an adult citizen i.e.18 years of age or older. The borrower needs a valid email address, phone number and an active bank account. Finallyit is a must that applicant is appointed at the present post for the last 3-6 months and some lenders require a regular income of at least $1,000 a month. Some lenders accept social security benefits as sources of income.

Don’tworry about your credit ratings, as you are not pressurised under the credit checks, no fax or mail or anything.

The Applying and Approval Process

Payday loans online same dayis very convenient, with access to a computerwhich has internet access;a person is able to apply for the loans.  You do not have to travel to a financial institution, wait in queues, or in a linefor consulting a loan representative. Applying online saves a lot of time and energy and its cost effective too.

The application process is simple; it usually requires you to fillout an application form, where you need to fill your basic details. Most payday loans are not based on your credit history, so if you are worried about your bad credit ratings, then be rest assured as it will not be a hurdle in the loan approval.

After you have filled and submittedthe initial application form, you will receive a response on whether your payday loan is approved or not within a few minutes.

Once you loan is approved, a payday loan company will credit the loan immediately same day. Payday loan companies are fax-less, they verify your income on line or through telephone, hence for loan processing there is absolutely no need to fax documents for any verification. You need to sign the contract electronically and the company will deposit the money into your account within 24 hours.

The Repayment Terms

Most lenders give a borrower a month or at the most two months to pay back the loan. On the due date generally the lender automatically withdraws the money alongwith interest and fees from the borrower’s bank account.

Conclusion

A pay day loan online same dayis a great way to get money to pay an unexpected emergency expense. Payday loans online have a simple process for getting quick money during a difficult financial time. You need to make sure, that you get a payday loan for the shortest amount of time possible and borrow the lowest cash amount.

Bad Credit Does not Mean You Will be Refused Car Credit

A bad credit rating can be viewed as a mountain to climb for those affected by it. Consumers may deem themselves in a position where they are unable to receive any finance from lenders. This is however, not true.

The truth: even with the worst credit, even one day after bankruptcy, an individual with bad credit may still obtain a credit card, a car loan or a home mortgage loan” (Attorney M. Brenner 2008).

Consumers have finance available to them regardless of bad credit as long as they are able to qualify through other requirements. Through fulfilling these requirements, opportunities of car loans or car credit will be made available.

Collateral can be a huge deciding factor when lenders are considering applications. Collateral, normally based upon fixed assets such as property, can be secured by the finance company. The collateral is used, as a source of payment, if a consumer does not make repayments of the full amount within an agreed time.

This does not mean that credit or income requirements will be overlooked by the mere fact of applying for a secured bad credit loan instead of an unsecured loan. However, it is true that you can boost your chances by doing so” (Witts 2008).

Unsecured loans are still available for consumers with bad credit. These loans will be subject to higher interest rates and lower loan amounts but are still a viable option for those with bad credit. Those with bad credit can use co-signatories or guarantors in order to secure loans such as car credit.

This will greatly reduce the risk and thus, ease the requirements for approval” (Witts 2008).

Consumer’s confidence in spending has fallen, effecting large purchases.

“Research, conducted in February, is one of the first pieces of evidence that the public are changing their behaviour to take account of the economic slowdown. Of the factors slowing spending, the biggest, cited by 44 per cent of people, was the rise in the cost of day-to-day living. One in six said they had received some big household bills; had seen their income plunge for another reason; or just felt they should be more careful in their spending”. (Hickman 2008).

Cars can be an expensive one off payment. The current economic climate means that consumers are less confident in their disposable income spending. Therefore the option of spreading that payment over a period of time in manageable monthly sums is more appealing to consumers.

Recent surveys from the RAC have indicated that a sizeable proportion of UK drivers are searching in order to reduce the size of their car. Consumers view the need for a smaller car for two reasons. 1; Cost and 2; maximising their car credit.

Companies such as creditplus.co.uk are specialists in finding consumers potential finance opportunities. They will sort through the major lenders and find the best finance deal available for specific consumers circumstances.

The use of loan calculators and other financial assistance tools provide consumers with an easy way to check if how much monthly payments would be and for how long these repayments would need to be made. However, this would all be dependant on the outcome credit checks carried out.

References

Article Sphere. 2008. Bad credit doesn’t have to be an obstacle. [Online] (Updated on 06 October 2008). Available at: http://www.articlesphere.com/Article/Bad-Credit-Doesn-t-Have-To-Be-An-Obstacle/158438 [Accessed 06 October 2008].

Debt workout. 2001. Introduction to Loan Options For Bad Credit Borrowers. [Online] (Updated on 01 April 2001). Available at: http://www.debtworkout.com/bad_credit/loan_help.html [Accessed 06 October 2008].

The Independent. 2008. Now the credit crunch is hitting home. [Online] (updated 16 April 2008). Available at: http://www.independent.co.uk/money/invest-save/now-the-credit-crunch-is-hitting-home-809603.html [Accessed 06 October 2008].

Article Source: http://www.articlesbase.com/credit-articles/bad-credit-does-not-mean-you-will-be-refused-car-credit-591811.html

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www.visitcars.co.uk

Bad Credit Uk? Now What?

If you have bad credit, or credit that is less than idea, we can help you get your credit history back on track.  Fixing your credit record or history is vital to improving your personal finances.  After al, that’s why we are here, to help you get your personal finances in order.  Yes order, as having good credit is essential in today’s world of finance.

You need a loan?  Without good credit, you may not even qualify for a loan, and secondly, if you do quality, and have bad credit, your interest rate and interest rate changes are going to be more than if you had good credit.

Ok, so good credit is in your best interest, you probably already knew that, and one of the reasons you are taking the time to read this article.  Well we are going to help you get your credit back on track.

First and foremost, you need to find out where you stand with your credit history.  Both Experian and Equifax can provide you with the tool necessary to understand your current credit score.  This is crucial to starting down the road to financial freedom. Find out more about CreditExpert® from Experian.   Find out more about the family of Equifax Products by visiting our site, the UK Credit Card Centre.

Let’s face it, credit cards are essential to developing, and keeping a good credit history. If you credit has slipped into a less than perfect, then you can start your credit ‘recover’ with the help of a credit card designed to get you back on track.

Both Vanquis and Capital One have developed credit cards designed to improve your credit rating. Have you had a credit card application declined in the past for any of the following reasons: because you’re new to credit, have a history of bad credit, a bad credit rating (including CCJ’s), you’re on a low income, work part time or are self employed? If any of these situations affect you, then these credit cards will help you fix your credit.  Find out more about Vanquis and to find out more about the Capital One Classic card .

Fixing your credit is a choice, a choice you can make.  To start down the road to financial freedom, you need to take the first step, a step you can make with our help.

Article Source: http://www.articlesbase.com/personal-finance-articles/bad-credit-uk-now-what-1934071.html

About the Author

At the UK Credit Card Centre our primary purpose is to provide personal financial solutions. Choosing the credit card that is best for you is rather simple. What’s not simple is the effort that is needed. That’s where we come in, we provide the tools and information necessary to help you find the credit card that is right for you.  Visit our site to find out more, UK Credit Card Centre

10 Side Effects of Extremely Bad Credit

Because your credit score is not a number you deal with daily, it often goes ignored.  Forgetting payments, maxing out a credit card, or ignoring your bills will all have a huge impact on your credit score and credit history.  A positive credit record will lead to lower interest rates, more job opportunities, and more possibilities to rent or buy a home.  Here are the most pressing side effects of bad credit:


1.         Credit and/or loan application not approved

The lower your credit score, the less likely you will be approved for a new line of credit.  Since you are a high risk for the lender, you are either denied completely or offered the loan at a high rate.

2.         High interest rates on credit cards and/ or loan

Because you are a high-risk borrower, some credit agencies will give you an incredibly high interest rate.  It is not uncommon for some credit cards to have as much as 30% APR!

3.         Not hired for job position

Many employers are checking potential employee’s credit report, especially in the financial industry.  If you have less than ideal credit, this may be a reason for your employer to look elsewhere for an employee.  CNN Money reports that 60% of employers use credit checks as part of the screening process for their new employees.

4.         High insurance premium

All insurance companies check your credit before offering you a premium.  It is statistically proven that consumers with lower credit scores file more insurance claims, therefore, it is said that these consumers deserve the most costly premiums (regardless of how many claims you actually filed).

5.         Denied for an apartment or house rental

Landlords almost always check your credit before offering up a lease agreement.  It is not uncommon for the consumers with the lowest credit scores to have much difficulty finding a place to live, if at all.

6.         Difficulty buying a vehicle

Want that new Toyota? Make sure your credit is stable.  Car dealerships use banks’ analysis of your credit report to determine a loan for you.  Bad credit can leave you with extremely high interest rates consequent excess expenses on your vehicle.

7.         Difficulty getting a cell phone contract

Cell phone companies always check credit since they offer their services in advance.  Obviously the company needs to see how financially responsible you are with payments before giving you the cell service.

8.         Difficulty starting your own business

In order to start a business, you usually need money in the form of a loan.  If you are unable to take out a loan due to bad credit, your business plans might never come to fruition, no matter how good the business idea.

9.         Calls from debt collectors

Many creditors will hire third-party debt collectors to collect the payment for past-due bills.  They will call your home phone, your cell phone, and even go as far as calling your family members to track your whereabouts.  These debt collectors will not leave you alone until your payment is made.

10.       High security deposits for utility accounts

Your electricity, cable, phone, and natural gas companies might require you to put down an initial deposit down before your service begins to ensure payment.  Companies frequently require this down payment as a part of the application process for consumers with bad credit.

Article Source: http://www.articlesbase.com/business-opportunities-articles/10-side-effects-of-extremely-bad-credit-4208260.html

About the Author

Extremely bad credit by Accurise accolades could only go so far. The economic storm that confronted everybody in late 2008 was a realization that everything was about to drastically change.