Everything I Learned About credit repair I Learned From Potus | Neptune NJ 07753

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FICO, which was once named Fair Isaac Corporation, is the corporation that compiles and computes your credit score. You can start building your credit when you turn 18, and it will stick with you for your entire life. Those without a credit history are said to have no credit history (instead of a score of zero); the lowest score you can have is 300, and the upper limit is 850.
Here is a thought, aim for no credit score. Your FICO score is no indication of how successful you are financially. It is purely based on your use of debt. In other words, it’s really a score of how much you like to play kissy face with debtors. Instead, get and stay debt free and save up to buy something. And yes, people take cash when you are looking to buy a home. Keep this in mind, most wealthy people do not have any debt. Thanks Dave Ramsey for helping us have financial peace.
I went through quicken loans for a refinance and my credit score got slammed and I got turned down double slam cause I don’t owe over a $100,000.,can’t win either way you go. From 725 down to 620,i’ll pay off what I have and the hell with this credit score crap and disappear and don’t give a dam what it ever becomes.
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Did you know that according to the FTC, 25% of Americans have mistakes on their credit reports that have the potential to affect their credit scores? At the end of the day, it’s your responsibility to make sure everything on your credit report is complete and accurate.
An engineer and a mathematician came up with this system of credit score. The only thing I see it doing is charging folks higher rates for those who can least afford it. I could care less what those two think of most anything.

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Always pay credit card balances off in full each month. There is absolutely no reason, ever, to pay interest to the banks (neither credit card interest nor “secured loan” interest) in order to build or maintain credit.
my house, paid for. car paid for, work truck paid for, I keep credit cards in the single digits utilization, currently less than 2%. My score is 753. whatever, I don’t need to buy a car or house or take out a loan to raise my score! geez, I still use 0% cards, usually with $100 or so bonus then more rewards. I only established any kind of score a couple years ago, reports said I had no history…takes time & for sure never miss a payment, maybe couple more years I might get up to 780?
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For a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750. Higher scores represent better credit decisions and can make creditors more confident that you will repay your future debts as agreed.
Greg – We explain in this article that there are many different scoring models. The two we show are scores used by lenders, not estimations. Also, are both pulling from the same bureau? (Ours is Experian.) 3 Reasons Why Your Free Credit Score Looks Wrong
I dated a girl many years ago that had 3 maxed out cards and over 12k in debt and every month she would get a new card in the mail. At the time I owned a business that had two 50k lines of credit, owned 2 cars, and received a small inheritance. I personally avoided the use of debt and credit. When I went to get a credit card (after years of personally avoiding them) I was completely denied because I didn’t have enough history. That is when I realized the game is about taking more then you are giving and promoting irresponsibility. Bad credit is better then no credit…
All negative information will eventually be removed from your credit report and will stop impacting your credit score. In the interim, you can do your best to build a more positive credit history by bringing your accounts current, paying bills on time, and reducing your credit card balances. Over time, your credit score will improve and you’ll qualify for better interest rates and terms.
I’m seeing a lot of young people with this type of credit. A high score doesn’t always equate to good credit, or even if you have a high score, lenders will not always pick up for a loan. Young people tend to have hyper inflated scores because in reality, they have no credit. 1 year of paying off your card is not good enough. Lenders don’t really start taking you serious until you have had quite a few years under your belt. It took me about 3 years to get a good visa card from my credit union with a limit of $7500, and only then they did it after I had several installment loans that I paid off, and an auto loan. In the same way, not using your credit but having several open accounts is also bad. Lenders will the potential debt you could get into, and if you have 10 cards with $1000 limits each,  you have the potential debt of $10,000 and they actually take that into consideration when they look at your debt to income ratio. The best way is to open maybe 2 cards (major cards not store as they have high interest rates) and use them only occassionally being sure to pay them off in 1 month.
Some people assume that younger folks have lower credit scores because they now face a tougher time obtaining credit due to the CARD Act’s restrictions. But you can still get a credit card when you turn 18. You just need to demonstrate that you have access to enough income or assets to afford the minimum monthly payments, which are usually around $15 to start.
You might be — or there could be a big car repair, a medical emergency and a roof leak at pretty much the same time. Good credit does not have to be used, but it can be handy in an emergency. And there is, as you point out, a factor of ease and safety. Travel reservations and easier and more secure, and credit cards have chargeback rights that cash and debit cards do not. But it is absolutely not necessary to be in debt to maintain good credit.
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Soft inquiries (when you check your own score) are never reported. Hard inquiries (when you apply for credit) stay on for two years, but in most scoring models, they have no impact on your score after 6 months.
How long you’ve been using credit is also a factor in most credit scoring calculations, too. Generally, the longer positive credit history you have, the more confident creditors can feel you are likely to repay your debt on time and as agreed.
No matter what the average credit score of a state is, the underlying loan requirements remain the same nationwide. Loan rates are tiered, corresponding to credit score ranges, and so are down payments. The higher your score, the lower your loan interest rate and down payment amount will be. Besides your credit score, lenders will also take a look at other factors – your income, your debt and the down payment amount you are able to provide. Hope this helps!
All these factors also play a role in the average credit of those between the ages of eighteen and twenty-one who are just beginning to build their credit. This age group is finding it harder and harder to gain any kind of credit initially at all.
According to the Austrian Data Protection Act, consumers must opt-in for the use of their private data for any purpose. Consumers can also withhold permission to use the data later, making illegal any further distribution or use of the collected data.[5] Consumers also have the right to receive a free copy of all data held by credit bureaus once a year.[6] Wrong or unlawfully collected data must be deleted or corrected.[7]
Credit Management Acceptance is predominantly engaged in Auto Dealers – Used Cars. Credit Management Acceptance operates in West Columbia South Carolina 29171. This business operation is involved in Auto Dealers – Used Cars as well as other possible related aspects and functions of Auto Dealers – Used Cars. In West Columbia Credit Management Acceptance maintains its local business operations and may possibly accomplish other local business operations outside of West Columbia in additional operations related to Auto Dealers – Used Cars.
One difference would be is that they give you different types of credit — revolving and installment credit. Once the loan is paid off, you also no longer have an active credit account. Assuming the secured card is paid responsibly and the balance is kept low (relative to limit), you should be able to qualify for an unsecured card reasonably soon.
While some people need to repair minor infractions, others have major issues to recover from. According to VantageScore, here are the approximate lengths of time it takes to repair credit based on your actions:
Pavelka said he always managed his money well as a bachelor but did occasionally carry a credit card balance. When he got married in 1987, “my wife kind of kicked me in line,” he said. Today, he said his wife still has veto power over his “fun” purchases. He defied her once – when he bought his Harley in 2005. (“To her credit, her concern was more my safety than expense,” he said. “So although I already had my motorcycle endorsement for 20 years, I took Harley’s Rider’s Edge training course.”)
The important thing is to use the same score every time you check. Doing otherwise is like trying to monitor your weight on different scales — or possibly switching between pounds and kilograms. Some sources may be using a different scale entirely.
CE Score is published by CE Analytics and licensed to sites such as Community Empower and iQualifier.com. This score is distributed to 6,500 lenders through the Credit Plus network but is free to consumers. It has a range of 350 to 850.[17]
It is very likely a debt buyer that bought this debt and hopes you’ll pay. But if the statute of limitations has expired you can tell them to stop contacting you and by law they must. In addition, a debt that old likely should not be on your credit reports. Please read: a href=”http://blog.credit.com/2012/12/does-your-old-debt-have-an-expiration-date/”>Does Your Old Debt Have an Expiration Date?
35%: payment history: This is best described as the presence or lack of derogatory information. Bankruptcy, liens, judgments, settlements, charge offs, repossessions, foreclosures, and late payments can cause a FICO score to drop.
We’re not sure where you are getting the information that you need to carry a balance — and we disagree. It is a popular misconception though. We wrote about it here: Can Paying Off Debt Hurt My Credit?
Very old system, low pay no raises offered, hard to hit goals, & no advancement within the company. Managers blame you for why people are not paying their medical debt. Even after averaging 150-200 calls a day, VERY repetitive. And when raffling prizes it is ridge in the CEO favor of his favorites. Managers are very patient if you have a problem and/or a concern with a accounts. Also benefits are pricey, and bonuses aren’t nice when you finally hit goals. I’d strongly suggest working elsewhere !
Do you have some kind of credit monitoring service with Experian? If you don’t then I would be concerned that this is some kind of phishing attempt to get your personal information. If you do have their service, then it sounds like you have reached a credit score goal…
Every time you set a major financial goal, like becoming a homeowner or getting a new car, your credit is likely to be a part of that financing picture. Your credit scores will help lenders determine whether or not you qualify for a loan and how good the terms of the loan will be.
Bankruptcies: Bankruptcies remain on your credit report from seven years (if you file Chapter 13 bankruptcy) to ten years (if you file Chapter 7 bankruptcy) and can significantly harm your credit scores.

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