Credit Score Archive for October, 2009

• Grads High Risk for Bad Credit, Deferment an Option

  by Sally Maison
  

  This year’s graduates will have to pay their bills soon or suffer huge drops in credit score. This is because the six-month grace period for student loans is about to expire, meaning graduates will be receiving loan bills soon whether they already have a job or not. Some students owe as much as $120,000, which makes their early financial lives all the more difficult. But experts say select students can still ask lenders to postpone payments until they are fully … (more) October 21, 2009

• High Credit, High Benefit: The Advantages of Having High Credit Scores

  by George Hauser

  They say words are limiting. But so are credit scores, thus the need for a credit score advice. Credit scores is a three digit number combination is actually your ticket to financial freedom. It tells us whether you can buy a house or get a loan and even help you find out how much you will need. This magic number is actually the lenders key to predicting whether you as a borrower, will be able to repay your bills on … (more) October 21, 2009

• Numbers Continue to Rise against Homeowners

  by Sally Maison
  

  Starting next month, homeowners and real estate buyers who have merely good credit scores will have tougher times getting a loan. Rules for obtaining or refinancing a mortgage were changed by new federal regulations imposed on appraisers, brokers, and mortgage lenders. Depending on the type of loan, a consumer whose credit score is 620 or below will find it very difficult to obtain financing. Things will change on Nov. 1 and Dec. 12, with Fannie Mae raising its lending standards … (more) October 20, 2009

• Lowering Your Annual Percentage Rate Helps Your Credit

  by Brian Anderson

  The reason why many consumers right now needs different kinds of credit score tips is because these consumers usually have problems with their credit payments. It is very easy to see why. Many people who spend by the credit, more often than not, mismanage their spending. Given that almost all major transactions right now can already be facilitated by credit cards, many consumers now feel more confident in choosing to spend by the credit. Plus, spending using credit cards can … (more) October 20, 2009

• Senator to Meet with Financial Experts to Reform Wall Street, Credit Rating Institutions

  by Sally Maison
  

  Senator Amy Klobuchar is set to hold a meeting that will highlight the need for reform on Wall Street to prevent another huge economic downfall. The roundtable discussion will be held tomorrow at the University of Minnesota with finance experts from the state to share their views on saving United States’ economy. Reforming the credit rating industry will also be another major agenda during the one-day summit. September 13 last year, Lehman Brothers Holdings, Inc. ended its nearly 160 years … (more) October 19, 2009

• What you should know about your credit report

  by George Hauser

  If you once thought that spending a vast amount of money in one sitting wouldn’t really affect your credit performance, think again. Due to crisis and economic evolution, it is essential for lenders to be aware of each and every monetary transaction made by borrowers. This is why lenders have credit bureaus to work for them.  These agencies acquire information about individual consumers to track down costumer credit information. They are in charge of finding out how you’re doing financially … (more) October 19, 2009

• New Federal Agency to Help Consumer Credit Score

  by Sally Maison
  

  Consumers are having trouble keeping their credit score intact because of economic pressures and tighter lending practices. The good news is, the federal government continues to push reforms in financial regulation. In a continuing effort to make American market a friendlier place for consumers, President Barack Obama announced his plan in creating a new federal agency that will provide financial protection for Americans. The agency’s main function would be to keep watch of American financial industry and make regulations clear … (more) October 18, 2009

• How to Negotiate Credit Debt on Your Own

  by Brian Anderson

  It is already general knowledge that more consumers right now chooses to spend using their credit cards, rather than using cash for their respective expenditures. In fact, almost all of major commercial transactions right now are mediated by credit cards. Whether a consumer would go to the supermarket, to the convenience store, or even to the hardware, surely, he/she can use his/her respective credit cards. However, there is also a common downside among all consumers that spends by the credit. … (more) October 18, 2009

• Salt Lake May Have to Give up Decade-long AAA Credit Score

  by Sally Maison
  

  Salt Lake County residents are facing another dilemma: whether they want more debts or higher taxes. Two of the three major rating agencies say the county is in danger of losing a much sought-after credit rating if it does not refurnish its budget. The county currently holds a triple-A bond rating and is considered one of the United States’ 23 best fiscally administered counties. Their present standing saved the county hundreds of thousands of dollars on interest rates when they … (more) October 17, 2009

• How to choose a reputable credit repair company

  by George Hauser

  The world today is fast-paced. It requires people to be on their feet and on-the-go. This makes them stressed and anxious. To add to this stress I the constant worry brought about by that error or inaccuracy you’ve discovered while browsing over your credit report or even a case of identity theft to your surprise. All these contribute to your low credit score and even lower chances of securing that loan you’ve been waiting to be approved of. You need … (more) October 17, 2009