I shouldn’t have to tell you how important it is to have a good credit score. A good score will make it easier for you to get loans approved, and give you privileged access to lower interest rates. And knowing how important a good credit score is, you should also be ready to question the score you get if you want to maintain a top-notch financial reputation.
In today’s information age, the problem of identity theft has become terribly prevalent, and makes it essential to develop a standard practice of questioning your credit score. In doing so, you are embarking on one of the first major steps to ensuring your credit identity is protected.
If you have paid for products and services on the Internet using a credit card, or have had a credit card stolen or lost, you should definitely make it a rule to question your credit score at least once in a year.
But even if you believe your credit card information has never been compromised in any way, you should still question your score, simply on principle.
All right then, but how do you actually go about questioning your credit score? First of all, you need a copy of your credit report, which you can get in a number of ways.
If you have recently applied for a loan and were denied for whatever reason, then the law states that you should receive a letter explaining why you were denied credit along with instructions on how to view your credit report. So you really shouldn’t throw away that denial letter, as it has useful information about how you can get access to your credit score. Read the letter carefully and follow its instructions.
You will eventually gain access to your credit report and learn what has been said about you by various creditors.
Another way to get your credit report is through one of the three major US credit reporting agencies: Experian, Transunion, or Equifax.
Once you get to read your credit report, you may notice that it shows some odd transactions that you are certain you never made.
These errors or anomalies can have a very bad effect on your credit score. They may even be indications that you have been a victim of identity theft, and someone has been using your credit identity to make illicit purchases that are billed to you.
To fix such errors and false billings, you have to file a dispute claim with the credit reporting agencies.
If you are required to, you must get in touch with the creditor who reported the disputed billing and let them know that fraud is suspected.
Be vigilant about monitoring your credit report for wrong billings and you will quickly put an end to attempts to defraud you and steal your identity.
This is one of the simplest things to do, applying for a card online.
With just a few flicks you will be on your way to owning a credit card. But hold down the horses! Before you get too excited are you 100% sure you are eligible in getting one?
Important general requirements of most credit card companies are: 1) that you are at least 18 yrs. Old, 2) you have an annual income of more than $12,000, 3) you have a regular income, 3) and most of all your credit rating is in good standing.
Search Like what you do in shopping, in order to save we look around first for other possible alternatives that are cheaper or better in quality than the one we have our eyes on.
The internet is loaded with a lot of sites that can help and show you the different credit card types available for us.
Try to use a good search engine. It will probably give you thousands of search results so choose wisely as to which sites you think are safe to open.
From there gather information of more than one type of credit card.
Compare It may seem like a dilemma when there are great cards that cater to what you think you need. But do not be biased.
Aside from the cards that you have set your eyes on, compare other type of credit cards (you never know you just might get a lot of benefits and savings from the one you were putting aside). Remember to compare the interest rates as this is the reason why a lot of Americans are drowning in debt. Try to get a card that has a low interest rate.
If there are cards that waive their annual fees use them to your advantage.
After all the comparing, cut it down to two or three choices and weigh both. Once you have chosen the card you believe is the best.
You are now ready to apply.
A gentle warning though, hackers and identity thieves have been rampant in the internet so be careful as to which website you are typing your personal information. Make sure that the URLs are exactly as the company name is.
Once you are confident that the site is authentic, be sure to fill up every single detail necessary and be sure that you have no outstanding balance with any other company (this includes all your utilities, personal loans, mortgage, etc.). No pending payments with other companies will ensure you even further in getting that credit card.
Once you have received your card always remember to use it wisely. Credit cards sometimes give us an idea that we can spend for a lot of things because we can purchase it and have trouble paying for it when the billing arrives. Remember to think twice before swiping that card, especially if you are on a tight budget.
If you don’t pay in time, you end up in debt and eventually end up spending even more.
You are now endowed with spending power use it sensibly. Use it to your advantage not your disadvantage.
Go online and apply now, grab that power!
Joe Davis is specializing in research and journalism on credit cards. Looking for a ?
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Every day thousands of consumers are harassed by debt collectors and many of them have their rights violated by these collectors. The good news is that you can use those violations to have the debts eliminated and your credit repaired in the process.
If you know the law, your credit repair process won’t have to rely on generic dispute letters or luck. Let the debt collectors do it for you and you can have your credit repaired, legally and permanently. Here is how…
Debt collectors are governed by the Fair Debt Collection Practices Act (FDCPA).
One section of the Act clearly states consumers cannot be contacted at inappropriate places – like work. I can’t tell you how many collection agents violate this section of the law. There is a caveat however.
They may contact your work unless they know your employer does not allow it. Simply write the debt collector notifying them that you cannot be contacted at work and make sure you send it Certified mail, return receipt requested. Should they contact you at work after that, they are in violation of the FDCPA and in a position where negotiation of the debt is usually a piece of cake.
Why these mistakes are common Most debt collector’s phone systems are set up on an automated dialing system. These systems handle thousands of client cases. When your name comes up, the computer automatically dials the numbers it has on file.
When you put in a special request (like not calling your work) your file has to be pulled manually and dialed by hand. This rarely happens and therefore, violations commonly occur and leaving the door wide open for you to sue to have it removed.
Negotiate to delete the trade line for their violation Once the debt collector has violated your rights, simply send a letter with a copy of the following.
Marc Chase is the founding Partner at MyCreditGroup.Com – A nationally recognized authority on credit report repair. His company is used by agencies such as The Department of Defense, Washington Mutual, Country Wide bank and they have been featured in several prestigious newspapers as “one of the few true authorities on credit repair” Visit his site at
Most people look out for an opportunity to avail rewards credit cards for them as there are several benefits.
A rewards credit card is similar to any common credit card that promises its consumer to offer rewards on each purchase or a purchase of a specific amount, say 1 point at $10 or 10 points at $100. However, there are several other aspects too that you need to know about rewards credit cards.
The first is that you earn certain number of points when you shop with your rewards credit card at grocery store or use it for several other purposes, such as filling gas, purchasing airlines ticket etc.
These points get accumulated together and when they reach a specific number (as per the conditions offered by the credit card company), you would be offered certain rewards by the credit card company, such as movie tickets, a dinner for two or free shopping for a specific sum of money or vouchers.
However, these credit cards usually charge a high rate of interest from their users. But users are also offered with reward points on the purchase of a wide range of items.
The best way to save money on rewards credit cards is to pay off as soon as you can. You can earn a lot of incentives such as cash back schemes thru using your rewards credit card.
Although, there are several types of rewards credit cards, but some of the most popular ones are:
* a) Travel Rewards Credit Card: This would be the best option to choose from in case you travel frequently.
With a travel reward credit card every time you purchase tickets you will earn points. Not only this but you are also get benefited from lower APR. Generally these cards do not charge any hidden charges.
* b) Gas Rewards Credit Card: You must go for a gas rewards credit card that has a tie-up with a Gas dealer or a gasoline company. This would help you earn several gas rewards, every time you get your tank filled while on the go. These cards would also offer you the best interest rates and lowest annual fees.
* c) Airline Rewards Credit Card: Avail an airline rewards credit card and you would be benefited from an opportunity to fly; as well as save money on it.
Let’s see the basic computation practices by these rewards credit cards companies.
Most of the rewards credit card companies these days follow two basic types of computation practices.
In case of percentage-based rewards, the credit card holder is offered with a percentage of his or her money back on the purchases made (however, this depends on the conditions offered by the company). The later method provides a number of points for the total number of purchases made, and thereafter, is redeemed for reimbursements on several expenses made.
When it comes to the points-based rewards system, it is very difficult to know what you would be receiving at the end of the day (generally three to five percent is offered by the company on a particular targeted purchase).
One point system provides a reward rate of 2,500 points for twenty dollars you spend. This is single point that you earn for each dollar you spend on a purchase. Now, this is calculated to one percent return rate on the money you have offered to the rewards credit card.
Though, we have discussed a few important points above, to understand all conditions and calculations in a better way you must read the fine print or brochures offered by the credit card company. So, in case you have any questions or queries, don’t hesitate to contact the company. Additionally there are many online websites that have useful information so never forget to go through them.
This article was written by Ben Fox, owner/operator of ; A website dedicated to finding consumers the best credit card to suit their needs, from bad credit, to good credit, rewards cards and anywhere in between they have something for you. They also offer resources for auto, mortgage and personal loans as well as auto, home-owners and life insurance.
Written by on Thursday, April 26th, 2007 in .
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