Steps to Repair and Protect Your Credit

Here are Steps to Repair and Protect Your Credit.

1)Order a copy of your credit reports. You can order your reports from myfico.com or you can get a free copy of your 3 credit reports every 12 months from annualcreditreport.com or by calling. After you get your report, you can then correct any errors you find that could be hurting your score.

2) Fix errors on your credit reports. You don’t want to get penalized for old mistakes or errors which aren’t your fault. About 70% of credit reports have errors so there’s a good chance that yours also does.

2) Catch up on missed payments.  If you can’t pay the old bills in full, you can try to work out a payment arrangement with your creditors or consult a non-profit credit repair agency to negotiate on your behalf.

 3) Payment history is the biggest factor in calculating your credit score. Make sure your payments on any debt and other bills like rent are on time. You may want to consider having your payments automatically deducted from your checking account. Just be sure not to overdraw the account.

4) Get a secured credit card. A good place to begin is at your local bank. These cards usually require a deposit in an amount equal to the credit limit of the credit tradelines you want. The deposits go into a special savings account that the bank can collect any missed payments from. The bank’s risk is minimal so it’s easy to get.

6) Pay down as much of your credit card debt as possible,  because the amount you owe as a percentage of your total amount of credit is a major factor in determining credit scores.

7) Avoid closing your oldest credit cards, since the age of your credit tradelines is a major factor. Closing the old credit tradelines could lower the the length of your credit history. If you have a card with an annual fee, you could always request the card be switched to one without a fee.

Above are the best Steps to Repair and Protect Your Credit.

How To Achieve Financial Excellence

Steps to achieve financial excellence

1) Save Money – You have to save before you invest and when you do you show that you can delay gratification. It’s shows your’e disciplined and this ability to delay gratification is required to achieve financial excellence and maintain it. By saving the money, you’ll be able to take advantage of deals when they present themselves. Live below your means.

achieve financial excellence

The rich get richer because they have access to cash.. So if you can save, though it will be hard and your friends may laugh, the next time the markets presents opportunities you’ll  be able to take advantage of the deals. Though cash is no longer king, access to cash is required to build your foundation. Keep your credit good and make sure all credit tradelines are reporting correctly. Understand it takes longer to build up your funds than it does to multiply.

2) Multiply Your Money – Invest some of the money you saved. You can leverage your money and buy real estate, buy a business, reinvest in your business. Only invest in things you know about. Don’t take chances investing on things you don’t understand. A couple mistakes could wipe out your foundation. If you save before you take the big swings trying to multiply your money, then if do you have mishaps it allows you to still be in condition to move on. You can’t focus more on multiplying  your money than you do on saving it.

3) Compound Interest on Your Money – Compounding of your money happens naturally after you been in the multiplication faze long enough. Compounding is a by product of being in the multiplication stage. This is where true wealth is. Now you have time to do things you really care about. You’ll now have assets that are working for you. At this point many will say that you have reached your desired goal and have attained financial excellence.

I hope this helps someone while travelling on their personal road to riches and financial excellence.

How To Raise Credit Scores Fast

How To raise credit scores fast?  To learn how to raise credit scores fast get a copy of your credit reports from sites like AnnualCreditReport.com. Then read the tips below to learn how to raise credit scores fast.

how-to-raise-credit-scores-fast

1. Dispute any errors you notice. Mistakes happen. You can dispute errors online through TransUnion, Equifax and Experian. (If you don’t want to dispute you can pay a reputable company) As many as 80% of credit reports have an error on the reported credit tradelines.

2. Negotiate with your creditors. You can always ask your creditors to “erase” debt or any account that went to collection. Some write a so called “good will letter” a letter offering to pay the remaining balance or a percentage if the creditor will report the account as “paid as agreed” or maybe even remove it altogether (this is known as a pay to delete). (Note: Be sure you get the creditors agreement in writing before you make any payment to them.

3. Make sure your correct credit limits are reported to the credit bureaus.

4. Get yourself a credit card. Having one or a pieces of plastic can help your score – but only if used regularly and paid on time.

5. Become an authorized user. Ask a relative or good friend if you can be added to his or her existing credit card account. Tell them you don’t need the card. You may hear the word “no” a lot. But you might also luck out, If you do get added as an authorized user the years of perfect payment history and the credit limit get placed in your credit files. If you can’t get a relative who has good credit to add you, you can buy tradelines for sale from IZM Credit Services and be added to their authorized user tradelines.

6. Under-use your credit cards. Yes, we did just tell you to use credit when possible. But don’t use it to pay for everything . Your “credit utilization ratio” should be no more than 30% and even less if possible. A reported credit utilization of 10% or less will maximize your credit scores.

For example, your credit card has a $10,000 limit and you charge a grand a month. That would be fine, the main thing is to have the limit which is reported to the credit bureaus be under 10% for you to achieve the highest credit scores possible. To do this pay down balances on the payment date or at least one day before your account closing date.

7. Don’t close old credit accounts, the old credit tradelines which are called seasoned tradelines add to the average account age on your credit files

For more info on how to raise credit scores fast, come to this blog regularly or sign up for updates.