Credit Score Archive for 2009

• Dollar Plunge May Soon Hurt US Credit Rating

  by Sally Maison
  

  Analysts cannot help, but compare the United States dollar’s fate to Tiger Woods—one bad downfall easily led to a domino of negative effects. In the dollar’s case, its weakening led to the trimming of US Treasury bonds by other countries. Some fear that this could eventually cause Uncle Sam to lose his prime credit rating which made him who he is. Recently, China began cutting back on its US Treasury holdings because of the continuing downfall of the US dollar. … (more) December 26, 2009

• 6 Tips for an Easy Credit Score Fix

  by Brian Anderson

  One of the hassles of life is paying bills. Yes, after shopping around and buying stuff to alleviate your daily stresses, you’ll finally ram unto another struggle of life, paying your debts. Don’t fret. You’ve got plenty of company. In the United States alone, there are more than 30 million people with credit defects that are severe enough and with perceived credit scores that are under 600. Even if your credit were okay, it would be best to make it … (more) December 26, 2009

• Fixing Credit Report Inaccuracies the Right Way

  by George Hauser

  Does it really matter what comes out on your credit report? How important is it and why does it seem like a piece of spam mail most of the time—unnoticed and disregarded? Maybe it’s because of too much stress from home and work already or maybe it is just not really worth to take notice at all. You are wrong and it is a fair time to take your credit reports seriously as they may contain flaws, have fraudulent information … (more) December 25, 2009

• Homeless Rebuild Their Dreams on Affordable Homes, Solid Credit Scores

  by Sally Maison
  

  Having a home is very important for a young couple or a family, but many are forced to rent because they lack the means to buy their own place. Mortgage financing and a high credit score are just some of the things homebuyers direly need, especially in tough economic times. Fortunately, many residents in Brazos Valley and nearby areas are able to have their own home because of an agency that provides housing assistance. Potential homeowners are not only taught … (more) December 25, 2009

• Credit Score-Ravaging Notices Sent as Junk Mail

  by Sally Maison
  

  Like all other creditors, card issuers are after making the most of what they lend. As federal government places a tighter grip on the lending industry, banks are scrambling to preserve profit by increasing rates, changing policies, and charging new fees. Unfortunately, many consumers are not aware of these changes since they disregard mail notices sent to them by their banks. This new CARD Act takes full effect February next year that is why banks are hurrying to set new … (more) December 24, 2009

• Understanding Credit Score for Credit Card Users

  by Brian Anderson

  There are many instances when people just suddenly go on a shopping craze. We all tend to buy many unnecessary things. Sometimes we spend above the budget that we originally intend. As a result of this overspending people charge all their bills to their credit cards. That’s what makes these credit cards useful. Because of credit cards people don’t always need to bring any money at all. They can also overspend a little above the supposed budget. The only wallet … (more) December 24, 2009

• Fannie Raises Minimum Credit Score, Big Down Payments May Not Count

  by Sally Maison
  

  Five years ago, mortgage applicants who go to banks with a 20 percent down payment will get their loans approved the moment they walk in. However, now that every creditor is tightening everything, a big down payment can no longer merit a mortgage loan approval. This week, Federal Mortgage Financer, Fannie Mae, will start requiring mortgage applicants to have a credit score of at least 620, along with a 20 percent down payment in their pockets. The previous cutoff was … (more) December 23, 2009

• Keeping Good Credit Scores and Maintaining Them

  by George Hauser

  What does it take to gain good credit scores? How important is keeping a good score and maintaining it? Credit score tips post importance to every credit card holder because irresponsible handling can cause you more than you can incur for a debt. With penalties that can amount up to as much as $200, 000, your financial life can end in the jurisdiction of the court. What you need to know is to use your scores to your advantage. Credit … (more) December 23, 2009

• Home Sales Up by 75% despite Increased Credit Score Requirements

  by Sally Maison
  

  Home sales in the Great Fort Hood Area unexpectedly skyrocketed by 75 percent this November despite increased credit score requirement by federal creditors. Analysts say this increase was caused by residents trying to catch up with the tax cut for first time homebuyers or home owners. This year, President Barack Obama, approved an $8,000 tax cut for first time homebuyers to aid an ailing housing market. It would have expired on November 30, but Congress voted to extend its deadline … (more) December 22, 2009

• Why You Shouldn’t Close your Old Credit Accounts

  by Brian Anderson

  Earning a good credit score is not as simple as creating one. Knowing which credit score advices to follow can surely help you create and more importantly, maintain a good credit score. However, there are some advices that circulate that you must not follow. One such advice is the misconception that closing accounts can help your credit score. Always remember that closing accounts can never help your credit score, and in fact, may even hurt it. Be wary of this … (more) December 22, 2009