Archives: 2009 June
Are 0 APR Cards a Good Idea?
June 29th, 2009, No Comments
You’ve seen it in your mail: You’re pre-approved for our card with 0 APR for the first six months! Sounds great, doesn’t it? Charge whatever you want, and make no interest payments on it during the first six months, or year, or whatever that credit card’s time limit is. But is it too good to [...]
What is a 125 Home Equity Loan?
June 27th, 2009, No Comments
A 125 home equity loan allows you to loan up to 25% more than the value of your home. That might sound like an amazing deal, especially if you don’t have enough equity built up to take out a regular home equity loan. Sure, you’ll have plenty of money to play with, but there are [...]
What is a Private Mortgage?
June 25th, 2009, No Comments
If you want to apply for a home loan but you know your credit score is quite low, you have the option to obtain a private mortgage, where you may have better luck being approved. In other words, you’ll circumvent the bank and take a loan from somewhere else. Homeowners can offer private mortgages when [...]
Common Credit Report Errors
June 19th, 2009, No Comments
You know you should be keeping an eye on your credit history, and you know that you can receive a free copy of your credit report from each credit bureau. But what exactly do you do when you get it? Your first assignment is to check for errors. Research will provide different percentages, but it’s [...]
What is an Unsecured Line of Credit?
June 17th, 2009, No Comments
When you are extended an unsecured line of credit, it means you will not have to provide any collateral to be approved. This is a riskier investment for a lender than a secured line of credit, but it’s a good deal for you. In order to qualify for unsecured credit, you must already have a [...]
How to Establish Good Credit from the Start
June 13th, 2009, No Comments
When you’re just beginning to establish a credit history, it’s important to create good habits right away. The sooner you fall into positive habits, the easier it will be to manage your debt in the future. It may seem like it’s going to take forever to build credit, but a decent history can be set [...]
Can Too Many Credit Cards Hurt My Score?
June 11th, 2009, No Comments
Opening a store credit card can be a tempting offer since it usually comes with a discount on your first purchase and promises of future coupons and deals. A new major credit card can be appealing with its offer of a no-fee balance transfer. But if you have so many cards that it takes you [...]
I Have a 500 Credit Score – What Does That Mean?
June 9th, 2009, No Comments
When your credit score is sitting at 500, you can probably tell why. While 500 is not the absolute lowest score you could have, you are in the same category as people with the lowest, which is 350. Your credit is rated as bad, poor, or just plain ugly. You probably have some major negative [...]
Can a Credit Dispute Erase Bad Credit?
June 6th, 2009, No Comments
Oh no! You found an error (or two or three…) on your credit report and now you need to file a credit dispute. Take a deep breath-you’re not alone. The majority of credit reports contain errors, and if the information is truly inaccurate, the credit bureau that reported it should have it resolved or removed [...]
Why Should I Get My Free Credit Report?
June 4th, 2009, No Comments
Do you know what’s on your credit report? If you don’t, your creditors may know more about you than you do, and it could be all wrong. It’s estimated that the vast majority of credit reports contain errors (anywhere from 70-90%), so it’s likely that yours is one of them. The only way to remove [...]
