What the World Would Be Like If credit repair Didn’t Exist | Spring Lake NJ

Below, we’ll take a closer look at what it takes to build perfect credit and pick the brains of people who have come close to reaching the top of the credit totem pole. If you’d like to see how far you are from credit perfection at the moment, you can check your latest credit score for free on WalletHub. We update your score every day, so you’ll always know where you stand.
Have more than just a credit card. Have specific credit cards. Like lowes. Home depot. Firestone. Best buy. Use them as needed. Dont pay cash or debit. But also control your expenses. I, personally, may have more than 10 different credit cards. If you use the specific credit card from a store, like lowes. You get 5% off, also no interest if paid full in 6 or whatever months. How great is that. You save 5% and also you have no interest on the amount. Meanwhile your regular credit card has interest. Probably over 14% since your credit is not exellent. Apply for loans. But dont use it. Let it expire. Like car loans. Switch cards. From different banks. By that i mean dont alwas use 1 card. If you have 3 CC and u use all 3 of them, you will get 3 reports a month. Do not ever pay of your main credit card. You pay it of, you cc company will stop the reports. A report is the amount you owe and the amount you paid. If You dont owe in your credit, you dont get reported.
You can get a free VantageScore 3.0 and a credit score from Experian through Credit.com. Credit Karma provides a free VantageScore and a TransUnion credit score with its credit report card. And Quizzle offers a free VantageScore 3.0 from Equifax. Or you could pay $19.95 per FICO score from each of the three bureaus at myFICO.com.
This happened to millions of people in America back in 08 to 2010. The banks wouldn’t work with people on reworking their payments on their loans because the banks knew they could make more money allowing those mortgages to go into default. They got paid from the insurance on the CDOs and got paid several times over on faulty loans, so many banks were purposefully letting people default. Read the book “greedy bastards”, its a real eye opener on this subject.
There is no requirement that says that you have to have a car, but if you do have one you need to be able to maintain it and if you can’t maintain it that means that you cannot afford one. Cars break down when they are not maintained so the money people think they are saving skipping maintenance always comes back to bite them in the end.
Never borrow what you can pay back with a unemployment check. And if it’s not a emergency. Save for it. Don’t charge. You might not get your flat panel TV today but when you do it will actually cost you less so you can buy a bigger one. The banks broke your country by manipulating you into to having it now. So let’s break the banks by putting your cash in your pocket instead of thier pockets.
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.
Many credit managers have an educational background in financial management or accounting. Degrees specifically in credit management are rare, although there are a few community colleges that offer associate degree programs with a specialization in this field. There are bachelor’s and master’s programs in financial management or accounting that offer coursework in credit management or credit risk management. There are also certificate programs in credit management, credit risk management and corporate credit management. Coursework in credit management can include investment principles, credit regulations, business law and money management.
In the United States, a credit score is a number based on a statistical analysis of a person’s credit files, that in theory represents the creditworthiness of that person, which is the likelihood that people will pay their bills. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, TransUnion, and Equifax. Income and employment history (or lack thereof) are not considered by the major credit bureaus when calculating credit scores.
Are you checking your credit scores regularly? Here’s how to monitor your credit score for free. Thirty percent is the maximum you should put on the cards, but you can get around that by paying early, so that the balance will be low relative to the limit whenever it is reported. Your paid-off student loan should help your credit if the payments were made on time. You could also consider a small “credit builder” loan from a credit union. But checking your free annual credit reports (go to AnnualCreditReport.com) for errors and disputing them, and keeping tabs on your scores, plus making sure you are using credit lightly and paying on time are the very best things you can do.
I’m not sure what you are doing that results in your score. Perhaps it’s because you haven’t had credit with the same companies for long enough? My score is 819. I don’t have a car loan or a mortgage either, and have never paid late. I also don’t have a student loan. Perhaps it was credit related to your divorce? By the way, my credit score was 794 for a long time because I got a new credit card. Now that all my credit cards are at least 6 years old, and one is over 20 years old, they raised my score.
To inspire you to achieve the highest score, that goal is 850. The last time I read an article from the WSJ (maybe two years ago); only 3 million U.S. adults have the perfect score. It’s one thing to reach for it, but it’s another to keep it, perpetually. It demands lots of financial discipline.
….You select ‘credit’ (if that is what it is?), then select the radio dial button that says *been over 7 years and follow the rest of the instructions. It doesn’t take long at all. The CFPB will contact this company personally and they will have to respond within 2 weeks and adhere to the laws of removing after 7 years. They will also be reported to the proper authorities for failing to follow the Fair Credit Reporting Act (FCRA). If you’re not sure how to do it, just Google Credit Financial Protection Bureau and give them a call.
Don’t worry if you live in a state with lower credit averages, or if you’re in a high credit state but still have a low score. You can boost your own score by taking a number of basic, strategic steps.
Consider your credit score a “Debt Score”. Your score really reflects your ability to STAY IN DEBT, and of course, pay bills on time. When the data breach at Target happened, I checked my balances often and was actually downgraded 20 to 30 points on my fico score for accessing my bank balance too many times. How silly is that. Credit scores are a joke. Work hard, save hard and pay with cash. Over a lifetime, the average joe would save $1000’s if not $10’s of thousands in interest charges.
Your credit report, however, does not include your credit score. You must pay to get that, generally $8 to $10. Instructions are included when you get your free report. If you’re checking your report and score for the first time in a long time, go with Equifax.
This is the quickest way to deal with this problem. Contact the Consumer Financial Protection Bureau (CFPB) online or by phone. File a complaint by following the directions (doesn’t take very long at all…). The CFPB will contact the company for you and they have to respond to the CFPB within 2 weeks and take action. If the company/credit bureau’s have violated your rights, the CFPB will forward your complaint to the proper authorities and they may be in violation of the Fair Credit Reporting Act (FCRA).
Griffin of Experian said Palvelka is a testament to the advice the credit bureaus frequently cite: “Don’t worry about your credit scores. Worry about managing the credit you have and worry about your credit history. If you do that, the scores will take care themselves.”
I am just as frustrated and angry as most of you. My score is 676 and my hubby is 664. We have paid every bill every month for the last 5 years with no delinquency (in the last 5 years and NEVER a mortgage delinquency) and just got a new car loan after our cars (paid off for more than 8 years) finally died. I have seen my score go up slightly with the new loan and payments. Our utilization is below 15%. We are trying to get above 720 to get a good home loan but I feel like we are in a Catch 22 and we cannot figure out how to get our scores any higher. If they go up it is by only a pont or two a month. What can we do to increase faster?!
It makes sense; after all, where you live affects how much you earn and how expensive your cost of living is. One striking thing is that not just particular states, but entire regions, tend to have similar credit characteristics. Could your geographic location be affecting your credit score?
Now suppose you want to buy that same car, same loan term, but your credit score is right on track with the national average of 695. Because you have those extra 80 points, your interest rate is 4.547 percent, and over the next four years you pay $1,912 in interest.
This is not true. I have 5 utilities I pay each month and only People’s gas reports may payments. Also I’ve never had a landlord report that I’ve made all my payments monthly. It’s a valid concern because they will report missed payments, evictions, or collections but not positive payment history.
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* They eat out frequently at nice restaurants and take pride in their collection of vintage red wine, but their frequent vacation spots are Columbus, Chicago, Pittsburgh and Niagara Falls (Pittsburgh’s “very eclectic Mattress Factory Art Museum is must-do,” he said.)
If you want to raise your credit score from 650 to a good or even very good credit score, take the first step by getting your free credit report from Experian. Then, check out our Credit Education resources to learn more about how to build your credit.
A good credit score can also get you a lower interest rate when you borrow. That means you will pay less over time. For example, if you’re buying a $300,000 house with a 30-year fixed mortgage, and you have good credit, then you could end up paying more than $90,000 less for that house over the life of the loan than if you had bad credit. So, in the end, it really pays to understand your credit scores and to make them as strong as possible.
During this time, some of the most important positive behaviors include maintaining a good credit utilization rate and making on-time payments to your accounts every month. In the case of credit utilization, that can mean using roughly less than one-third of your available credit at any given time, since a credit utilization rate is considered in the scoring calculation. Using a lot more than that could signal trouble and lower your score.4 You should also make every payment on time each month — not missing a single payment because of an address change or a misfiled statement. Of course, you should be doing all of these things as a matter of course in maintaining and improving a good credit score.
Yet, the couple have seven vehicles, including two 1960s British sports cars and a 1958 Corvette. All of their regular vehicles have $100 per year vanity plates. (“Eat Hot” and “Eat Heat” shows their passion for spicy foods.)
Paying your bills in full is a smart move and definitely doesn’t hurt your credit score. And the scores you cite sound like excellent scores. Do the scores that you received show you where you fall in comparison to other consumers (fair vs. good vs. excellent for example)?
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Credit scores reflect the information in your credit report. To get good scores, you must take care of your credit report. Instead of focusing on the number, work to maintain a good credit history. You will probably never get a perfect credit score, but that shouldn’t be your goal.
The FICO score was first introduced in 1989 by FICO, then called Fair, Isaac, and Company.[3] The FICO model is used by the vast majority of banks and credit grantors, and is based on consumer credit files of the three national credit bureaus: Experian, Equifax, and TransUnion. Because a consumer’s credit file may contain different information at each of the bureaus, FICO scores can vary depending on which bureau provides the information to FICO to generate the score.
He has a girlfriend, (probably gonna marry) who was going to move in with him. He did not consider her money at all. He got approved and got his loan on his own. He wants to be safe incase they break up. Too many people buy a house that they as a couple can barely afford, what happens if they break up?
Below, you can learn more about the average credit scores by year, state, age and more. Reviewing these credit score statistics will give you a better sense of how good your credit score is relative to those of your peers. Credit-score averages can also tell us a lot about the health of consumers’ finances and the strength of the economy.
Whole thing seems to be a scam to me. I have credit cards, two mortgage payments, car payments – never missed – never late and my credit score drops because I shop for better rates. My thought … someone does not want to do business with me – fine by me but so far when the question comes up – I demand the interest rate of the day and somehow they always come through when I threaten to walk. Home loan #1 3.2, Home loan #2 4.2 – will redo it when the value of the property increases, car loan #1 1.9, car loan #2 1.9. Yes I have a card that is loaded to capacity because I transferred others to it because it’s 0% interest. So my thought is – let the reporting agencies play their games – I’ll keep playing mine
The three main credit bureaus are Equifax, Experian, and TransUnion. Each bureau gives you a score, and these three scores combine to create both your 798 FICO Credit Score and your VantageScore. Your score will differ slightly among each bureau for a variety of reasons, including their specific scoring models and how often they access your financial data. Keeping track of all five of these scores on a regular basis is the best way to ensure that your credit score is an accurate reflection of your financial situation.
In India, there are four credit information companies licensed by Reserve Bank of India. The Credit Information Bureau (India) Limited (CIBIL) has functioned as a Credit Information Company from January 2001.[11] Subsequently, in 2010, Experian,[11] Equifax[12] and Highmark[13] were given licenses by Reserve Bank of India to operate as Credit Information Companies in India. CIBIL is by far the oldest and the most popular, having its origins in the year 2000. Experian has been in existence since 2006 and achieved a license of operation in 2010. Highmark and Equifax also received operating licenses in 2010.[14]
Well then you clearly have a high salary and don’t have to worry. And, by the way, you missed my whole point. People sometimes find themselves in financial predicaments through no fault of their own – job loss, illness, divorce, etc. – that can make life less than perfect and certainly not as neat and tidy as you seem to think it will always be. Life has a way of tossing serious curveballs at people. And if you live in a place like the Bay Area, that can knock you off course pretty harshly and very fast even if you think you’re ‘prepared.’

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Your credit score affects your financial life in multiple ways: Lenders assign interest rates based on the bracket your score falls in. Landlords often require a minimum credit score in order to rent an apartment without a co-signer on the lease. Poor credit even affects how much homeowners pay for insurance.
If you have fair credit, you have access to a wide range of credit cards, including many rewards cards. And finding the right card can help you continue to build your credit history and improve your score. Here are our top credit cards for fair credit.
Your life experience sounds exactly like mine, and I think you’re spot on with the need for financial literacy education. I learned through my parents’ habits which were…non-ideal. I had a really rough 5-6 years crawling out of the hole from my mistakes. I know better now, but I could have saved a lot of stress (and a lot of interest) had I learned lessons the “easy way” ahead of time.
Disclaimer: NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly.
They seldom open new accounts. Their oldest credit account was opened an average of 25 years ago and their most recently opened credit account averages was 28 months ago. Overall, their average credit account is 11 years old.
Fair Isaac Corp. produces the credit scoring algorithm used for the majority of lending decisions in the United States. Most FICO scores range from 300 to 850, and the higher the score, the better. (Some versions of the FICO score, such as those for the auto and credit card industries, are on different scales.)
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Ulzheimer says an 850 FICO score isn’t needed to gain the best interest rates or APRs on credit cards and loans. In fact, he adds, there’s not much difference in that regard between, say, 800 and 850. More than anything else, arriving at 850 merely gives you “bragging rights,” Ulzheimer says.
But your credit reports don’t reflect whether you can afford to repay the credit you are applying for. That’s why your income and other debts play a key factor in some lending decisions, as lenders consider what you owe alongside what you earn and assets you have accumulated. Lenders use a debt-to-income ratio calculation to evaluate whether you can repay a loan.
When determining if you are a good candidate, a lender will look at your credit scores. Most lenders use FICO scores, but some lenders are starting to look at VantageScores as well to further determine your future financial risk if they were to extend an offer of credit to you.
Even if you can only afford to pay the minimum, always pay on time because that will have a bigger impact on your score than the amount you pay, Detweiler says. Set up automatic bill pay through your credit account or bank account so you don’t miss a payment.

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