Building Good Credit

Articles

• Building a Good Credit Record - A solid credit history can be one of your most useful and powerful financial assets.
• What is a Credit Score? - As with any type of score, a credit score is a measure of your performance at any given time. In this case, it is a measure of your credit performance.
• How to Select the Right Credit Card - With so many credit cards to choose from, consumers are left to fend for themselves in finding the best credit card deals.
• How Many Credit Cards Should You Have? - The right number has everything to do with your particular situation – your spending habits, your budget, your debt loan and, most importantly, your ability to manage credit.

Podcasts

• Build a Solid Credit History
• Pay More Than the Credit Card Minimum

Financial Tips

• Are Credit Monitoring Services Worth It? - Here are five reasons why you should consider using a credit monitoring service.
• Good Debt vs. Bad Debt - You need to know that the credit reporting agencies do look at the different types of credit through different lenses.
• Higher Credit Limits Can Increase Your Credit Score - Borrowing less against higher limits reduces your credit ratio and can increase your credit score.
• What If You Always Pay Cash? - Keeping a credit card account open and active; even if you use it only occasionally can help your credit score, even if you prefer to use cash.
• Variety is the Spice of Credit - Adding some variety to your credit life may spice up your credit score.
• Use Cards Occasionally Even if You Don't Need To - Keeping a credit card account open, even if you do not use it, can help your credit score more than closing the account.
• Free Annual Copies of Your Credit Report - You are entitled to receive a free copy of your credit report each year from each of the three main credit reporting bureaus: Experian, TransUnion, and Equifax.

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Articles

• Developing and Using a Wise Borrowing Strategy - Debt can enable you to enjoy things that otherwise are currently beyond your reach. Borrowing can also have an ugly side.
• 5 Ways to Tell Good Debt from Bad Debt - Here is how to tell the difference between good debt and bad debt.
• Preparing to Borrow - Before applying for a loan or a credit card, here are some things to consider.
• Keep an Eye on Your Debt-to-Income Ratio - When you reach a point when it seems that most of your money is going towards paying down your debt, you probably have an upside down debt-to-income ratio (DTI).

Podcasts

• Fundamentals of Borrowing
• Preparing to Borrow
• Getting and Using Your First Credit Card

Calculators

• Accelerated Debt Payoff - Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff.
• Home Equity Debt Consolidation - This calculator is designed to help determine whether using your home equity to consolidate your debt is right for you.
• Personal Debt Consolidation - Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you.

Financial Tips

• Ready to Kick the Credit Habit? Here's your Strategy - If you have established the proper budgeting habits, and you are setting aside an emergency fund, you really don't need to use a credit card.
• Credit Rating versus Retirement Nest Egg - Combining paying down balances with saving, especially if your employer matches your contributions, maybe the smartest way to plan for retirement.
• Build Your Business Faster with a Business Credit Card - Commingling business and personal finances can complicate record keeping and tax filing.
• Don't Let Your Credit Cards Run Wild During the Holidays - Around holiday time the temptations are all around us to whip out our credit card and start taking care of year-end business.

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Articles

• Should I Use a Credit Repair Service or Debt Consolidation Company - The quick answer is no. The problem is, as a result of the massive numbers of people in debt crisis.
• Will a Debt Management Plan Hurt My Chances of Getting Credit? - For people struggling with debt, the Consumer Credit Counseling Service (CCCS) is a viable and legitimate solution that shouldn't be mistaken for one those debt consolidation or settlement companies.
• How to Rebuild Your Credit - Sometimes it can be more difficult to rebuild credit than building it from scratch, which is why you want to avoid getting into credit trouble ever again.
• Is There Credit After Bankruptcy? - If you think your financial life is going to be over after bankruptcy, you'll be pleased to know that an increasingly competitive lending industry is willing to give you nine lives.

Financial Tips

• Remove IRS Liens from Your Credit Report - If you have paid off an IRS tax lien, under new regulations you can have it removed from your credit report.
• Remove Inaccurate Information for a Quick Boost - Periodically check your credit report for inaccuracies or errors, and correct them promptly. Doing so will improve your credit history and score.
• Do You Have Poor Credit? Consider a Secured Credit Card - Consider a secured credit card: You provide the lender with a cash deposit and in return you are issued with a credit card.
• Consider the Credit Score Downside of a Settlement - Many consumers choose to settle their debts for less than what they owe; in the financial world that practice is often referred to as a debt settlement.
• Avoid Credit Repair Scams - Credit repair companies can provide valuable services, but some are less reputable than others.

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Articles

• Reducing Your Debt Burdens - Strategies for reducing debt.
• Pay More Than the Credit Card Minimum - Paying more than the monthly minimum will eliminate the balance much faster, save you considerable interest charges and provide some peace of mind knowing you are taking a prudent action.
• How to Maximize Your Credit Card Rewards Without Getting into Trouble - Credit cards have some really good reward programs but credit cards can also get you into financial trouble.
• 10 Ways to Keep Your Credit Score Healthy and Avoid Shopper's Remorse During the Holidays - Be smart with your holiday shopping. Do not put your credit in jeopardy by letting yourself run amuck with your gift giving.

Financial Tips

• Never Charge Simply to "Build Good Credit" - The best way to build good credit is to pay your bills on time. Even one late payment can negatively affect months of on time remittance.
• If You Don't Owe a Debt Don't Ignore It - To maintain your rights under the Fair Debt Collections Practices Act, always respond in writing to any debt that you dispute.
• A Quick Rule of Thumb - To help you keep your credit card debt from getting too high, follow this simple rule of thumb.
• The Lender Matters - You might be surprised, but having a finance company, payday lender, or car title lender listed as one of your creditors could affect your credit score.
• Watch Your Utilization Ratio - After your payment history, your utilization ratio is the next most important factor behind your credit score.

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