October 2018 – Credit POC

The Importance of Credit Scores

Posted on October 30, 2018 by blogger

If you want to buy a car or a house you need to have credit. The better your credit score the more favorable terms you will get on home and car loans as well as other forms of credit. It can affect your insurance rates and can even have a bearing on your employment. A credit score is a number derived from a person’s credit report that represents their apparent creditworthiness. Credit report data comes from three primary credit bureaus: TransUnion, Equifax and Experian. These reports are evaluated to determine how likely it is that a person will pay their debts.

The first credit scoring system was created in 1958 by the Fair Isaac Corporation (FICO). It was used for investments. In 1970, American Bank and Trust created a credit scoring system for bank credit cards.

The FICO credit scoring system is the most popular and widely used. It is considered the standard of US consumer risk. FICO scoring is based on the following criteria:

Payment History (35%) Credit Utilization (30%) Length of Credit History (15%) Types of Credit Used (10%) Recent Searches for Credit and/or Amount of Credit Recently Obtained (10%)

If the loan or credit applicant’s FICO score is low, the bank may deny credit, charge higher interest rates, and request more detailed financial information or require collateral.

Each of the three top credit bureaus use the FICO credit scoring system. However, credit scores can vary from one credit bureau to another because each company has its own databases and procedures for gathering reports from different creditors.

It is prohibited by law to base credit scores on race, religion, national origin, sex and marital status.

US residents are also legally allowed to view their credit scores once a year at no cost. You can see your credit score for free by visiting www.annualcreditreport.com.

Credit scores are used to decide who qualifies for a loan, and at what interest rates and credit limits. The higher the score, the more likely you will be able to purchase a product or service with credit.

ABOUT CHRIS SCULLY

Chris Scully is a consumer advocate for ethical debt settlement and credit repair practices, a personal finances blogger at MyMoneyMess.com, and author of the book “The Debt Survival Kit.” You can contact Chris at .

Do You Have A Bad Credit History To Purchase Cars

Posted on October 27, 2018 by blogger

According to a survey, many people belonging to the United States are searching for car finance either for purchasing a new or old vehicle. Here, they are left with two options for obtaining the loan and they are nationalized banks and car finance companies. Here, it will be easier for people with good credit history to find the best lender. On the other hand, auto loan financing for bad credit is hard to find. Most of the people with bad credit, get confused as to what to do and where to get an approved loan for meeting their auto finance requirement.

Good news to these people is that some of the best dealers offering used cars for sale, not only sell them, but also arrange for used car loan with bad credit. So, people with no credit or with bad credit need not worry about purchasing their dream vehicle.

These dealers follow a simple, but revolutionary policy for offering the best auto loan financing for bad credit. When an individual enters into a loan agreement with the best dealer, he will be getting not only a reliable used vehicle, but also a loan that can enable him to meet the cost of the vehicle. The finance agreement is designed in such a way that the purchasers do not become more stressful about their monetary condition. On the other hand, they are helping their customers to improve their credit score. This will enable their customers to improve their attitude towards money and they can also get out of their life and career issues as well. These dealers are operating through their websites and so they have displayed the images of different vehicles available to them on second sale. These images will offer a great opportunity for the purchasers to decide on the vehicle that will be suitable for them.

Irrespective of whether they are in need of passenger car, pickup truck or cars of any model, they can browse through the particular category of vehicles. Also, the best dealers ensure that they offer only the vehicles with a warranty period. Generally, most of the old machines do not offer any warranty period. But, some professional used vehicle dealers sell the vehicles with some period of warranty.

So, if you are looking for used car loan with bad credit, stop searching a financing company and start searching for a good used car dealer for solving both your objectives of purchasing used vehicle and getting a loan.

The Key Online is the one-stop source to find the best Car dealers Oklahoma city online. We sell best quality used cars and also we specialised in Bad credit auto loans for used cars. For more details on how to get used car loan with bad credit, visit us at online.

Unsecured Personal Loan With Bad Credit Make Your Cash Achievable When You Need

Posted on October 21, 2018 by blogger

Everyone covets to pass his life with comfort or luxury but once in while some financial requirements disturb you abruptly. Then you think how to arrange for cash instantly; still there is nothing to worry because $5000 unsecured personal loan with bad credit is a loan that is with you ever to carry out your any economic problem. Applying for this loan is very advantageous. You have no fear of losing your valuable property for this loan. If you are suffering from bad credit history, yet you have no grouch about your low credit score. You can apply for this loan without exhibiting your bad credit history.

You can borrow the cash amount up to $5000 with unsecured personal loan with bad credit without pledging any quota of your valuable property as home or jewelry. You can repay this loan within 684 months. You can utilize $5000 unsecured personal loan with bad credit for catering assorted financial requirements and your personal needs such as education, vacation trip, nuptial, purchasing car, consolidate your debts and other you can get the house repaired.

$5000 unsecured personal loan with bad credit carries a bit high rate of interest in comparison of standard loans by the reason of this loan doesnt demand assets as collateral for its security. But for affordable rate of interest you can make your applying for lower rate of interest only by searching well over the internet where numerous lenders provide lower rate of interest through own website. By selecting one lender of them you can be gifted with low rate of interest. This loan has been released for one and all. So, if you are tottering with such conditions as defaults, arrears, CCJs, IVA, late payments, and skipping installments can easily entail the amount up to $5000 to fulfill your monetary requirements.

Online has made this loan attainable in no time. You are to fill up only an online application form with few mandatory details as your name, address, profession name, contact number, valid active checking account, age and the list goes on. By consuming a little time for verification the application, the cash will be transferred to your bank account spontaneously same day within few hours or the next working day.

Clean Credit Report – Get a Clean Credit Report And Raise Your Credit Score 100 Points Fast

Posted on October 17, 2018 by blogger

Do you know what is on your credit report? Have you seen a copy of your credit report recently? Your credit report will show all your debts, credit cards, employer and past employers, address and past addresses, any judgements from being sued, and a score to give financial institutions an idea of how good or bad your credit is. It is important to check and make sure you have a clean credit report once very 6 months.

If you have not seen your credit report ever or it has been a long time, then the first thing you need to do is obtain a copy of all three of your credit reports. There will be one from Equifax, Experian, and Trans Union. They will be very similar, but may vary just a little bit. You need to know what is on all three of them.

Now in order to get a clean credit report you will have to go through all three reports and see what is really yours, what is old, what is reported wrong, and what might not even be a debt of yours. Sometimes things do get reported wrong and this can really hurt your credit.

Next, write a letter to all three credit reporting agencies and dispute anything that is not reported correctly or is not yours. The creditors on your report will have 30 days to report the account accurately or it will be removed from your report for good.

Now raising your credit score 100 points is pretty easy.

First, look and see how many times your credit has been pulled in the past 90 days. Take the amount of times and multiply it by 3. That is how many credit points you will receive when all of those inquiries come off your credit report.

Next, if you have any past due accounts, then pay them off or at least catch them up. After you have done so write a letter to the creditor asking them to update the account so that you will get a better credit score.

The last thing you can do, if you do not have much on the positive side is get a credit card or small loan. Pay the monthly payments on time and never miss or be late. This will help raise your score and will combat some of the negative items on your clean credit report.

Find out how to get your Free Credit Report and make it a Clean Credit Report. Go here for more info:

Clean Credit Report

Update To Merchant Credit Card Processing

Posted on October 8, 2018 by blogger

Businesses must have several options available to its target consumer to stay competitive and retain sales. Offering merchant credit card processing as a form of payment makes your customers more comfortable using your business. It gives merchants the benefit of receiving payment automatically. There are no more deposits at a bank. You can still have the option. The main idea of offering merchant credit card processing is flexibility for your consumers.

To start accepting credit cards you contact your financial institution. An institution will generally give a retailer approval to accept two types of credit card. Some credit card companies have an application process of their own. You will need to do your own research to apply to accept those cards. Remember the more options you have for your consumers the better you can retain them and attract new clientele.

After receiving approval for merchant credit card processing you need the equipment to do so. Many financial institutions and credit card companies themselves sell or rent credit card readers. These are small modems with a reader attached. Many are portable for businesses that function outside of the office. The card reader will accept or decline the card instantly. It is always recommended to ask for valid identification when accepting a credit card. Check the back of the card to confirm signatures. A credit card is valid only when signed for your businesses.

There are small fees credit card companies levy to accept their type of credit card. The fees associated with accepting credit card payments are the responsibility of the merchant. These fees are normally a few cents per transaction. The fees are small compared to the loss of a consumers patronage. It is a frowned on practice to pass the fees to the consumer. It would discourage them from using the credit cards that you want them to use for the convenience of merchant and customer.

For online storefronts merchant credit card processing online is an absolute necessity. Cash cannot be used online and mail payments take several days or weeks. Most consumers do not want to use their personal bank information to do transactions online. Merchant credit card processing online is the best way to accept payment. Even alternatives like online processors require the consumer to set up accounts with them. That takes time. Time is money. Having merchant credit card processing online is the simplest way for your consumers.