Archive for the 'Credit' Category
With the current system that allows everyone to get a free annual credit report from each of the three major credit bureaus, I’m surprised at how many people I know that don’t check their credit reports. Some people have NEVER checked their credit reports, ever! My guess is that either they don’t see the need in reviewing their credit reports or they do not know that you can request the reports for free.
For those who don’t see the need for reviewing their credit reports, perhaps they already have excellent credit, and they have not been a victim of identity theft. Yet. And for those who simply don’t know how to get them for free, it’s really simple. Simply go to annualcreditreport.com and get them absolutely free with no catches!
Do you know what’s lurking in your credit report? You know, the report potential lenders look at to decide whether to give you a loan or not, and if so how low of a rate you will get? Luckily, you can now get a copy of your free credit report from each of the three big credit bureaus now for free if you ask on annualcreditreport.com but keep in mind that to get the FICO score you will be charged a fee.
When you are going through bad debt collection, this means that the lender you owe the money to, for example a medical debt, has turned over the account to a third party, which is the debt collector. In some cases, they work hand in hand with the original lender while in others, they now own your debt and you must repay them. In either situation, you will need to work with, talk with and make payment to the collection company rather than the original company.
You may find that the best credit card offers are not the ones that come to you out of the blue. You may get them when you have bad credit, and those are the ones that you have to watch out for the most. These often look good, and those that have not had a chance to get credit cards may jump at these offers. That can often be a mistake. Reading the fine print can often be an eye opener in these cases. There are always hidden fees and very high interest rates. No one can tell you what to do, of course, but think long and hard before you sign up.
When you have good credit, you are going to have much more say in how much you pay in interest and even what your limits might be. You may think that some of the best credit card offers are the ones that offer you unlimited credit, but that is rarely the case. When you have a limit, you know you are not spending more than that at any time. That means you can better manage your spending in many cases. Unless you have money to burn, the unlimited offers are not the best credit card offers for most families.
