It's important to be well educated about having poor or no credit
before applying you make any major financial decision. In our education
center we will inform you about any aspect about having poor or no
credit. We publish new credit card articles weekly so be sure to check
back often.
How
to Help Your Spouse Rebuild Credit
You can help your spouse rebuild a credit score through specific joint
debts. However, you should be conscious along the way of the fact that
your spouse must take individual loans in order to truly build up a
good credit report. Look for opportunities to take on debts together
and separately so you can both have high credit scores in the future.
Rebuilding
Credit: Pros and Cons of Secured Credit Cards
Secured credit cards are one way of leveraging your assets and
rebuilding your credit. A secured card requires collateral; if you
default on the credit line, the lender will seize your collateral.
Using a secured credit card can be a useful strategy for those with low
credit scores because lenders are more likely to issue loans to
high-risk borrowers if there is collateral on the line. The risk of the
loan is almost wholly transferred to the borrower in this case,
however, which presents a potentially unfavorable situation.
How
to Rebuild Credit after Bankruptcy
The best way to rebuild your credit after bankruptcy is to give the
process time. Each state has regulations determining how long a
bankruptcy will remain on your credit report, and this length can be
between 10 and 15 years. Later, evidence of your bankruptcy may still
be accessible by lenders carrying out legal searches, but your credit
report will not reflect the problem. While time is the best remedy,
there are specific, measurable actions you can take to help the process
along.
Rebuilding
Credit: Common Pitfalls
Rebuilding credit takes time, but there are many strategies you can
employ in order to speed up the process. Avoid these common mistakes on
the road to credit recovery.
How
to Raise Your Credit Score before Applying for a Mortgage
It is important to know how to raise a credit score before applying for
a major loan such as a home mortgage. The stronger the credit score,
the better the borrower's chance of qualifying for a loan and getting a
competitive interest rate and competitive terms. The following
information explains how a credit score is calculated and offers tips
on how to raise a credit score.
Getting
Credit in a Tight Credit Market
It wasn’t so long ago that mailboxes were overflowing with credit card
offers. Even people with imperfect credit could get cards at a
reasonable interest rate. That’s not true in the current credit market,
which has tightened up dramatically, leaving sub-prime borrowers out in
the cold. If you’ve got bad credit, it won’t be easy to get a credit
card until the market loosens up again. In the meantime, take this
advice to heart.
How
to Land a Job When Your Credit Stinks
With unemployment and credit card defaults as high as they are, it
seems like a terrible time for employers to screen candidates’ credit
histories. But more employers are doing just that. If you really need a
job but have a problematic credit report, here are some strategies that
might mean the difference between gaining employment and spending many
more months in job-hunting tedium.
Bad
Credit? Don’t Get Taken for a Ride
Bad credit doesn't make you a horrible person, but you wouldn't know
that by looking at the way some lenders treat sub-prime borrowers.
Don't fall prey to bad-credit scams. You can get the credit you need
with terms you can live with. Read on to learn how.
How
to Boost Your Credit Score in 5 Easy Steps
Today, you need a good credit score to get approved for loans of all
kinds. Here's a quick guide to improving your score in 5 easy steps.
Price
Controls Proposed for Fee Harvesting Cards
Who would pay $150 for a $75 credit limit? Millions of Americans with
poor credit, that's who. Now the Fed wants to change the way
fee-harvesting cards are handled. Are the price controls a good thing,
or will they leave subprime card holders out in the cold?
Should
You Co-Sign for a Credit Card?
If a loved one comes to you and asks you to co-sign for a credit card,
what should you do? Here are some things to consider and some questions
to ask yourself before you sign that dotted line.
Anyone
Can Get a Credit Card
Anyone can get a credit card. In this day of sub-prime programs and
spotty credit scores, nobody is truly a hopeless case. Just beware of
the sharks.
Getting
Good Credit for Your Child
Your child is leaving for college, and you want to make sure they have
a credit card if emergencies arise. Your child has applied for credit
cards, only to be rejected. What now? Fortunately, there are plenty of
options for parents in this situation.
Secured
and Prepaid Credit Cards
With so many consumers looking for ways to rebuild their credit,
secured and prepaid credit cards are growing in popularity. Some people
swear by them, and others try to avoid them. If you’re new to credit
cards, you may have wondered how a prepaid card differs from a secured
card, and how either kind can be used to build credit.
How
to Use Your First Credit Card
Have you recently acquired your first credit card? If you have, you may
be excited. After all, there are a number of perks to owning a credit
card. With that in mind, if you are not careful, your credit card
could, literally, become your worst nightmare. To prevent yourself from
falling victim to credit card debt, you will want to take the time to
familiarize yourself with the proper use of a credit card.
Credit
Cards for Minors?
In the United States, people under the age of 18 cannot legally enter
into any contracts without a co-signer, but what about the increasing
number of parents who are getting credit cards in their children’s
names? Do minors really need access to credit cards?
The
Dos and Don’ts of Secured Credit Cards
It's hard to get away from using a credit card these days. If you want
to travel, you must have a credit card to reserve a hotel room. Renting
a car? It takes a credit card. Want to get a membership at the new
video rental store? Present your credit card, please.
Credit
Card Options for Minors
If you’re like a lot of parents, your first thought upon reading this
title was, "Are you crazy? Why would a child need a credit card?" But
believe it or not, the reasons extend well beyond the shopping mall.
Getting
Your First Credit Card
Many times people who have never had a credit card or any other form of
credit think that the banks will turn them down for lack of credit
history. While this may be true in some cases, no credit does not mean
you have "bad credit", and provided you have a steady income, chances
are you will be able to obtain a credit card.
Secured
Credit Cards
When deciding upon what credit card is the best for you, don’t rule out
secured credit cards. In fact, many people are finding secured credit
cards to be the best option. Some people choose a secured credit card
when they have had credit problems in the past, and obtaining a
traditional credit card would be difficult if not impossible.
Prepaid
Credit Cards
Prepaid credit cards are new twists on the popularity of plastic money.
The name says it all. They are cards that function just like credit
cards in nearly all aspects, but you have to pay the spending limit
upfront. It's like a prepaid phone card you can use to buy anything at
all.
Tips
for getting your first credit card
For anyone looking to build their credit history or get their first
credit card, this is the article to you. Learn the common down falls
most customers face and how you can avoid them.
