A Merry Christmas and A Happy New Year

I found an fantastic Youtube video shared in Mr.Chris Farrell's site today,titled "THE DIGITAL STORY OF THE NATIVITY"



Disclaimer : I subscribe  membership of MrChris Farrell - Not Criminal IM Coach/Mentor

A Merry Christmas : Free Christmas Present - eBook "101 Romantic Ideas"

 A Merry Christmas and A Happy New Year
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This eBook has nothing to do with Financials.
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Your Credit Score Explained

By Brian G Chadra

The credit score was once confined to the mortgage industry but has made its way into the general financial community. It is a three digit number that ranges from 300 to 850 and demonstrates your ability to repay an amount of money that was borrowed. This snapshot of your financial well being is examined by any creditor that your are attempting to borrow money from. It can cause denial or approval of a loan on its own merit or will cause you considerable consternation as the lending institution seeks further answers to the fitness of your request.

You see, the credit score is a summary of approximately five different factors that together total up the point values. They are listed below:

1). Payment history - approximately 35%
2). Amounts owed - approximately 30%
3). Length of credit history - approximately 15%
4). New credit - approximately 10%
5). Types of credit used - approximately 10%

Each of the items has a role in determining your number. The higher the number, the better risk you are as a loan candidate. The cut off point between a good and bad risk is generally set at 620 with persons below that number labeled as a bad risk. Surprisingly, a number between 730 and 850 constitutes an excellent risk and usually qualifies for the best interest rate. So you don't have to have a perfect score to quality (since very few people actually do), but a very good one.

There are three different national bureaus that monitor your credit rating: Experian, TransUnion, and Equifax. Although they use slightly different methods, the final three digit total are approximately the same. Consider ordering your FREE credit report to check for any errors that may be listed.

Raising your number by even a few points can save you considerable money in the long term. Good Luck.

Articles Source: Your Credit Scores Explained

Ref : Credit Score Online on the spot  National Credit Report , Credit Reports and Scores or  CreditDotCom
Credit Repair/Debt Management Visit CreditDotcom  OR Call Lexington Call Toll Free Now: 877-387-4381 for an Free informal chat.

For Home Buyers: 5 Best Websites for Credit Score Information

by Brandon Cornett

If you’re planning to buy a home in the near future, you should know your FICO credit score. In fact, your credit score is one of the three most important factors considered by mortgage lenders (along with your debt and income levels). If your score is high, you’ll have a much better chance of getting approved for a loan. You’ll also qualify for a better interest rate, which could save you thousands of dollars over the life of the loan.

It’s important to check your FICO score early on in the home-buying process, because it takes time to improve a low score. While you’re entitled to a free credit report per year, you’ll have to pay a small fee for the credit score. They are two different things. You can purchase your score from MyFICO.com — this is the company that actually designed the FICO scoring model.

But what if you check your score and find out that it’s low? You could qualify for certain types of loans with a score in 600 range, but you’ll be much better off in the mid- to upper-700 range. The question now becomes: How do I Improve my score? And that brings us to the purpose of this article.

5 Good Sources of Credit Information

Here are five websites worth visiting, if you want to learn more about your credit reports and scores:

1. www.myfico.com — We touched on this website earlier. This site is owned by the Fair Isaac Corporation, the company that created the credit-scoring model used by most lenders. They have plenty of educational articles, as well as a forum where you can post questions. It’s well worth a visit.
2. www.homebuyinginstitute.com/credit.php — On this page, you’ll find a collection of more than 100 articles relating to consumer credit. This collection was compiled over a two-year period, as readers sent in their questions. If you have a question about credit reports and scores, you’ll find the answer on this site.
3. www.annualcreditreport.com — This website is jointly owned by the three credit-reporting companies (TransUnion, Equifax and Experian). This is where you should go to request your free reports. This is the only site that is regulated by the Federal Trade Commission.
4. www.ftc.gov/freereports — Why do so many people offer “free” credit reports, and then try to charge you for stuff? It’s a marketing strategy referred to as bundling, and you can learn the truth about it on this website.
5. www.bankrate.com — This site is a treasure trove of helpful advice. In addition to credit tips, it explains the mortgage process in great detail. Start with a keyword search, or click on the “news and advice” link.

Research is the first step to home-buying success. The five resources listed above will help you get started on the right foot.

Citation Note: The original version of this article was written by Brandon Cornett. Brandon is the publisher of the Home Buying Institute, which includes one of the largest libraries of mortgage advice for home buyers.

Ref : Credit Score/Monitoring Visit  National Credit Report , Credit Reports and Scores or CreditDotCom
Credit Repair/Debt Management Visit CreditDotcom , Blue Sky Credit Repair OR Call Lexington Call Toll Free Now: 877-387-4381 for an Free informal chat

Basic Overview Of Credit Score Ranges

The individual’s financial data is submitted to a credit reporting agency by creditors, debt collection agencies, the courts and other public or federal agencies.
Once a note or comment has been made or added to the person’s credit report, it stays there for sometime.
If the note is a positive one, it ensures that you’ll have an easy time availing of different forms of financing.
A negative comment made by your creditor on the other hand, will have a detrimental effect on your purchasing power.

1. Standard Credit Score Ranges
To develop the credit scoring system, a creditor generally weighs each of the major factors, based on how each of the factors predicts whether a person is deemed a good credit risk.
300 – 499 – Bad Credit
500 – 580 – Poor Credit
580 – 619 – Low Credit
620 – 679 – Average Credit
680 – 699 – Good Credit
700 – 850 – Excellent Credit
2. Regularly Monitor Your Credit Score
According to credit experts, a good to excellent credit score is often weighed as a future sign of your credit value, and if your credit score is Good, then your future loan’s interest rates will certainly be lower than usual.
A bad to poor credit score on the other hand, will usually allow you to get higher-interest loans, which are costly to pay in the long term. Always ensure that you regularly monitor your credit score, since if you allow your credit score to drop too low, then it may take a number of years for you to get it back to its desirable range.
3. Who Are The Major Credit Reporting Agencies In The US?
In the United States, there are three major credit reporting agencies, where most creditors submit their client’s payment history and personal information.
The information submitted include date of account opening, type of accounts, payment history for each account, late payments, unpaid child support, overdrawn checks, or any foreclosures, suits, wage attachments, liens and bankruptcies that are derived from federal and state agencies.
The major US credit reporting agencies include Equifax, Experian and TransUnion, independently operating from each other. So their records differ from each other. If you’re disputing any inconsistencies in your credit report, you need to send updates and corrections to each agency, because these agencies don’t generally share information among each other.

Complete Idiots Guide To Getting Out Of Debt

Educate Yourself
This may seem obvious, but a lot of people who find themselves in debt don’t actively seek out information on the issue. Go to the library or bookstore and find books on the subject. Look up budgets, debt, credit scores, and anything that relates to your situation.
Organize Your Bills
You need to know exactly how much debt you have gotten yourself into before you can make a plan on how you are going to fix it. Clearly lay out what your minimum payments are every month and who they are owed to.
Make a Budget and Stick to It
Once you have all of this figured out you can make a budget. Make sure you stick to this budget to keep from getting into further financial trouble.
Get Rid of High Interest
If you discover that you have extra money at the end of the month,pay extra on your debt. Pay off the credit with the highest interest rates first so that you aren’t wasting money on interest. This can save you a lot of money in the long run.
Cut Back on Spending
This won’t be fun, but cutting most of your spending is going to be required. You got yourself into a bad situation, and now you need to redirect your money to get yourself out of it.
Diversify Your Income
Now this may not mean going and getting another “job.” This could be something small and easy such as babysitting on the weekends. It may not seem like much, but even a couple hundred dollars extra a month can take debt out quickly. If you look online and in the newspaper you can probably find a lot of people who just need odd jobs done for a little cash.
By laying out some plans for getting out of debt and sticking to them you will start seeing progress quickly. It won’t be fun, but every time you pay off a credit line, you will be able to breathe easier.

5 Ways You Can HURT Your Credit Score

Below may seem like small bumps on the credit highway, these actually help to slowly mangle your credit rating, and may significantly alter your plans of buying a new home, getting a new car, or paying for your child's college tuition.

Late Credit Card Payments and Large Balances
Late credit card payments not only burden you with additional surcharges and fees, but it can also put a black eye on your credit history. According to credit report experts, poor payment history accounts for 35% of your total credit score, and even a single late payment can quikcly chop-off 100 points from your score.

Unpaid Medical Bills Can Affect Your Credit Rating
Once these are turned over to a collection agency, the bad news will certainly be circulated aorund the lending community.

Non-Payment Of Apartment Rentals
Your landlord can actually report that he or she has evicted you for defaulting on your apartment rent, and this would surely send shivers down most property management companies and mortgage lenders.

Mounting Utility Bills Paint a Bad Credit History
While late payments on utility, cable TV and telephone bills are not often reported to credit agencies, a number of US states actually report these types of delinquencies to collections agencies.

Unpaid Library Fines And Parking Tickets
Today, most municipal and city governments are turning to collection agencies to salvage hese unpaid bills, especially if your dilly-dally on repaying them. For example, if a collection agency reports that you weren't able to pay overdue parking tickets or library fines, this could make your credit score drop by as much as 100 points.

5 Ways To Build Your Credit Score

Whenever you wish to get a loan, you need to know something about your credit score,which is a number that creditors look at to determine your viability to get credit.
Here are five innovative ways for building-up your good credit score history.

Get a Credit Card, And Pay Your Balance On Time
To get started in building up a nice credit score, get only one credit card for the moment.
Remember that the more credit cards you have, the more debt you'll end up with.
You need to be responsible with one credit first, before you insist on applying for a second or third credit card.
In addition, remember to pay your card's balance on time.
By paying your credit card's balance every month, this would indicate that you're capable of paying your bills, and will send a positive signal to most creditors and lenders.

Don't Ask For A Higher Limit From Your Credit Card Company
If you have a credit card, don't be tempted to call your credit card company and ask for a higher limit, because this can help ruin your credit score.
Next, don't open any extra credit card accounts, because by having an extra credit card, or by canceling the other one, you can do major damage to your credit history.
Also ensure that you don't transfer your balance from a card that offers high interest, to a card that offers a lower interest rate.

Pay-Off A Sizable Amount of Your Current Debts
Pay-off a sizable portion of your current debt load, since the more available credit you have, the more will your credit rating improve. Also have a considerable savings and checking account, as well as learn to regulate it too. Your creditors will view a well-managed bank account as a sign of stability.

Add Other Small Forms Of Credit
Once you've paid-off a large portion of your current debts, add other forms of credit, like get a small mobile phone contract, and pay it off every month. This may help to enhance your credit rating, and will also indicate that you're well-rounded when it comes to handling different forms of credit.

Dispute Any Errors In Your Credit Report
If you still haven't seen an exact copy of your actual credit history, get a copy now from the credit bureaus and analyze it properly as well as dispute any errors or numerical flaws. An incorrect report can actually deduct as much as 100 points from your credit score.

Individuals with good credit scores are often called “prime borrowers”, and these people are more likely to get special interest rates and other rewards from creditors.