Guys: 7 Great Reasons To Ignore Your Credit Score!

Wait what? Why should I Ignore my credit score?

There are so many reasons but we decided to just name the 7 most important.

ignore your credit score

If you don’t need to buy a car what the point of having a great FICO Score? It’s just kinda silly to put in the effort of building and keeping great credit especially if my girlfriend loves my beat up honda. Its got character!

ignore your credit score

My parent’s basement is good enough! kids with credit

ignore your credit score

ignore your credit scoreSince I am living with my parents they can see my accomplishments! My girlfriend is proud that I am wasting time and money!

ignore your credit score

She has great credit and pays for everything since my credit card only has a limit of $500 a month. I can get used to that!

ignore your credit score

yup.

Ignore your credit score

Employers won’t check my credit will they?

ignore my credit score

Why bother?
ignore your credit score

Looks like we were wrong! You should pay very close attention to your credit score!

To get started right away with building great credit check out our Starter’s Guide To Building And Protecting Your Credit!

Are You The Parent (OR Grandparent) Of A New College Or High School Grad?: A Post From David M. Frees III J.D.

kids with creditWhat Parents and Grandparents Must Know About Helping Your Young Adult To Navigate Good Credit And What Bad Things Can Happen If They Don’t

Are you the proud parent of a newly minted and soon to be “independent” adult? Ready to cut the cords and to stop paying their monthly bills?

Do you have a graduate from high school or college who is living at home or moving on and who’s ready to start his or her new life?kids with credit

Well, now’s the time to get ahead of a very dangerous and counter intuitive situation – The FICO credit score. And, this is one area of financial life where what you don’t know can hurt you and your child who is heading out into the world.

And by the way, when they first go out on their own, credit cards seem like a good way for them to pay the bills…. until they have gigantic and unmanageable debt AND as a result a bad credit score.

You see, nobody ever teaches our kids how to build and keep great credit.

And most kids don’t know that their credit score will radically affect whether or not they can buy a home, to buy or lease a car, rent an apartment, get reasonably priced auto or homeowners’ insurance, get a job and more.

That’s right, a good or bad credit score can mean a yes or no on these and many other buying decisions and bad credit or no credit rating can mean higher prices – much higher prices for car, rental, and home mortgage payments and even prevent your new adult from getting a job.

And I don’t know about you but once they move out of your house it’s hard (on both kids and parents) to have them move back in…especially if that could have been prevented with a little good advice and some “credit secrets”.

So let me tell you two stories to help you to understand why teaching our kids (as soon as possible) about how to get and to keep good credit.

kids with creditI was recently speaking to a 25year old friend (who was about to get married and to buy a house). Let’s call him Ray.

Ray told me that he had always paid cash, even for his car and truck, and never had a credit card. He’d never really done anything wrong but……his credit score was only 680. You see that having absolutely no credit history can be just as harmful as a damaged credit history. He just hadn’t done a few things that really mattered.

Now that may not sound too bad, but he and his fiancée didn’t even qualify for a mortgage. His wife-to-be had a better score and could qualify on her own but they really needed their combined income to get the house that they wanted.

End result.

No house.

Even in the best-case scenario, where they did qualify, their interest rate, and therefore their monthly payment, would have been dramatically higher.

In this case, there was a happy ending.

I knew CR Publishing’s Alex Frees (yes he’s related) and put them in touch with Alex and The Starters’ Guide To Building and Protecting Your Credit.

With a few carefully executed strategies (described in The Starter’s Guide To Building and Protecting Your Credit) he was able to take his score from 680 to over 775. Those kids got their mortgage and their first home as a result of working hard, saving money for a down payment, AND having good credit scores.

So what’s the moral or the story?

Help to educate your recent grads…. before they make credit mistakes…about what to do to build and keep good credit.

Some of the rules are obvious – pay your monthly bills on time – and others are less apparent. For example, did you know that there are good reasons to get a second credit card and some bad reasons that can damage your credit score.

Are you aware that it’s not just how much credit you have available, but how much of the available credit you have used.

Do a few important things right and your score goes up. Miss them, or do them the wrong way or in the wrong order and you can easily damage your score.

Well, if you’re like me – a parent but not an expert on consumer credit scores – then getting your kids access to educational resources like the Credit Repair Intelligence System (a comprehensive guide to building and keeping better credit) and the super inexpensive The Starter’s Guide To Building and Protecting Credit can mean the difference between their life long financial success and independence and that knock on the door where they want to move back in.

Help your new grad to get a better start in life. It’s easy and effective to help them learn…. right from the start…how to build and keep a great FICO credit score.

Enjoy the exciting life of being a parent and grandparent!

Dave Frees, JD

P.S. I promised you a second story so here it is:

I knew another recent grad. He started life with a credit card balance that he couldn’t pay off. That in and of itself isn’t a problem. But, as the balance grew (he was using it to supplement his income) he was also using more and more of his available credit line.

This negatively affected his FICO score and the interest rate on his balance went up…and so did his monthly payment.

The next thing you know he missed or was late with a payment and his score dropped again.

He got another card but did the same thing there (and his interest rate was higher from the start).

It didn’t take long before the rent on his apartment was too much (along with his credit card debt) and he could no longer qualify to buy a new or used car.

Moving back in with his parents was the next step.

All of that could have been avoided with a little advanced help. Help your kids to study up on FICO. To learn more about credit and how it’s computed. And, if it makes sense get them a copy of The Starters Guide For Building and Protecting Your Credit or The Credit Repair Intelligence System.

Gain Your Independence From Debt

debt freeHow are your kids going to feel when YOUR debt controls your life.

Debt is not always your fault… But letting it take control of your life is.

That is why we want to help you get your independence from debt this summer! It is often it is hard to pinpoint one area of debt or credit repair to start. That is why when the Credit Repair Intelligence System was created it covered multiple topics. Its just the nature of the beast. Similarly, to building or repairing credit you can’t do just one thing. You often have to try multiple strategies at the same time.

The same goes for fixing debt! There is not one strategy that will fix everything. And experts would probably agree that you often have to use several and combine some strategies to be most effective.

That is why The Debt Free Bible combines 19 different strategies and secrets that are ready for you to discover right now. The Debt Free Bible is over 280 pages of knowledge that is ready to be absorbed.

But be aware…

This is not some fly by the night system. It actually took a little over 2 years and over $25,000 to create it. Our friends at Zodiac Publishing really created something special for the country here.

Just some of the methods can start helping immediately:

• Use the ”Method Matrix” to compare 19 get out of debt methods and pick the best one (page 222)
• Discover how to get one bank pay off another bank with the ”IR Method” (page 163)
• How to use the ”Overflow Method” pay off any debt faster (page 159)
• How to pay off your bills FASTER with no extra money using the ”RR Strategy” (page 167)
• Why the ”LBF Technique” gives you a psychological advantage to become debt free (page 169)
• Why the ”HIF Method” should be used FIRST on debts over 24% interest (page 171)
• How the ”Division Method” and a calculator can get you debt free 8 YEARS SOONER (page 173)
• Pay off your mortgage in only 6 YEARS with the ”AP Strategy”

But using just The Debt Free Bible or The Credit Repair Intelligence System is sometimes not enough. Luckily we are able to provide both for the ultimate debt fighting and credit building system.

Not only that but we are there every step of the way! Our Members-Only Forum, staffed by our Credit Expert Dan Sater (Check Out his Bio), is there for you to access and ask him questions! Having some guidance through the credit building or repair process is what separates us from the other guys. And now with The Debt Free Bible you can build the debt free life that you want and deserve for you and your family.

We are offering total independence from bad credit and debt at deeply discounted prices. Our flagship Credit Repair Intelligence System and Debt Free Bibles are available for you RIGHT NOW! Check Them Out Here! Remember Everything Comes With A 30-Day 100% Money Back Guarantee!

Does Credit Scoring Hurt Your Brain?

Credit Scoring methods. Why are they so confusing? Read the rest of this entry »

What is the Debt Free Bible?

debt free bible
Debt isn’t always your fault. But we all know its hard to get rid of once its there.

Often it is hard to pin point one area of debt or credit repair to start. That is why when the Credit Repair Intelligence System was created it covered multiple topics. Its just the nature of the beast. Similarly, to building or repairing credit you can’t do just one thing. You often have to try multiple strategies at the same time.

The same goes for fixing debt! There is not one strategy that will fix everything. And experts would probably agree that you often have to use several and combine some strategies to be most effective.

That is why The Debt Free Bible combines 19 different strategies and secrets that are ready for you to discover right now. The Debt Free Bible is over 280 pages of knowledge that is ready to be absorbed.

But be aware…

This is not some fly by the night system. It actually took a little over 2 years and over $25,000 to create it. Our friends at Zodiac Publishing really created something special for the country here.

Just some of the methods can start helping immediately:

• Use the ”Method Matrix” to compare 19 get out of debt methods and pick the best one (page 222) 
• Discover how to get one bank pay off another bank with the ”IR Method” (page 163) 
• How to use the ”Overflow Method” pay off any debt faster (page 159) 
• How to pay off your bills FASTER with no extra money using the ”RR Strategy” (page 167) 
• Why the ”LBF Technique” gives you a psychological advantage to become debt free (page 169) 
• Why the ”HIF Method” should be used FIRST on debts over 24% interest (page 171) 
• How the ”Division Method” and a calculator can get you debt free 8 YEARS SOONER (page 173) 
• Pay off your mortgage in only 6 YEARS with the ”AP Strategy”

But using just The Debt Free Bible or The Credit Repair Intelligence System is sometimes not enough. Luckily we are able to provide both for the ultimate debt fighting and credit building system.

Not only that but we are there every step of the way! Our Members-Only Forum, staffed by our Credit Expert Dan Sater (Check Out his Bio), is there for you to access and ask him questions! Having some guidance through the credit building or repair process is what separates us from the other guys. And now with The Debt Free Bible you can build the debt free life that you want and deserve for you and your family.

If you are interested in keeping up with this blog and want a free report be sure to sign up here! We will provide some of the most up to date news, info, and thoughts in the industry.

If you know you are ready now to fight debt and win then order the entire Credit Repair Intelligence System and get the Debt Free Bible for 50% off! I’m even going to throw in the shipping for you!


If you want more information about anything let us know and one of our team members or myself will contact you!

What Our Lawyers Make Us Say: CR Publishing publishes and provides quality and actionable do it yourself products and information to consumers who want to improve credit and/or to get rid of debt. The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.
FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

What Law Actually Makes The Creditors Listen?

FCBAThere is a lot of confusion about how the the Fair Credit Billing Act (FCBA) can be used in the credit repair and credit building process.

The FCBA is really a part of the more extensive Truth in Lending Act and it regulates how creditors are supposed to behave and allows you the right to request large amounts of information regarding your billing and payment history.

One provision of the FCBA is often not utilized because it can be confusing to understand from the general wording. This provision is actually the foundation of a great credit repair tactic.
 
The provision essentially states that an individual has 60 days to dispute an unauthorized charge. This seems pretty straight forward. However, in the summary of the tactic, we did not request a disputed charge. The tactic that we want to use here involves another provision of the law- the “Information Request”, and this is a broader term that is not restricted by a limited time period.
 
The FTC summarizes the statute’s prohibitions as: “unauthorized charges; charges that list the wrong date or amount; charges for goods and services you didn’t accept or weren’t delivered as agreed; math errors; failure to post payments and other credits, such as returns; failure to send bills to your current address — provided the creditor receives your change of address, in writing, at least 20 days before the billing period ends; and charges for which you ask for an explanation or written proof of purchase along with a claimed error or request for clarification.”
 
As you read the list of requirements the FCBA, just imagine the credit repair possibilities. Consider something like this…

“In compliance with the Fair Credit Billing Act you are obligated to fulfill with my request for documentation to substantiate the reporting of my account to the major credit reporting agencies. Please provide documentation on how you charged my account, how you calculated the interest rate, as well the full accounting history of where you mailed each of my bills. If you are unable to comply, then please remove your reference to this account from every reporting agency you have reported to. Your expeditious compliance is expected.”

 
The above example from DisputeSuite.com is considered an “information request” and is something no creditor wants to mess with. Creditors are in the business of lending money and not dealing with credit reporting information. So instead of wasting their time with finding all the requested information, they will often simply remove the marking.
 
While FCBA was created to assist consumers with current account disputes, it is actually very effective with older derogatory marks. No company wants to be accused of breaking the law even if it was a few years in the past. This is especially true of creditors. Creditors are highly motivated to avoid even the hint of a lawsuit or some public embarrassment.
 
So this is something to keep in mind when disputing with creditors. You will want to ensure all the below stipulations are met, otherwise request they stop reporting the account to the credit bureaus.
• The account was created at your request.
• Every item billed to an account was billed correctly.
• Every statement was created in a timely manner.
• Every statement was sent to the correct address.
• The creditor never ignored change of address requests.
• The creditor never ignored disputed charges.
• Ignored change of address requests, or disputed charges which weren’t facilitated correctly didn’t contribute to negative credit reporting.
• Interest and late fees were computed in accordance with federal law.
• The creditor didn’t break their contract with their customers in any way.

Remember one of the FCBA’s main credit repair uses is to allow you to request broad amounts of information from the creditor on your account history. It is not asking for verification of the account or making a claim—it is asking for a boat load of information.

Did you like this blog post? Leave a comment below! Also REGISTER HERE to get notices when we publish more tips, tools and strategies and for when we offer new products and services.


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Your Credit Score Can Benefit From More- But Only So Far

It’s true, a healthy mix of credit can boost your score…

but get too many cards or carry balances and it starts to lower your score.

To learn more and how to improve your score read on…

Consumer credit scores clearly take into account the “mix” of credit types and items consumers have on their reports. This part of the credit score is affected by what kinds of accounts a consumer has and how many of each.

The bureaus will score someone higher, for example, if they have an open mortgage, 3 credit cards, 1 auto loan, and a small amount of other open accounts. Low balances and available credit as well as timely payments are also large factors. So having a few cars is beneficial.

But, if a consumer has a ton of credit cards, their scores will be lowered.

If they have several mortgages, their scores will be lower.

Any “unhealthy” account mixes lower their scores.

The preferred number of credit cards appears to be three. This means a consumer will actually have a higher credit score if they have three open credit cards than if they have more or less than three open.

If you have more DO NOT run out and cancel your cards just yet.

Remember, 30% of the score is comprised of balances in relation to credit limit.

So if you have too many, keep your cards open, but focus on having three large balance cards and pay down the balances on time for maximum impact.

Click here to read more about our products and services to help you to get rid of debt and to build healthy credit so that you can have more of what you want out of life.

REGISTER HERE to get notices when we publish more tips, tools and strategies and for when we offer new products and services.

More on How Your Credit Score is Calculated

A credit score provides a lender a quick and efficient way to gauge your creditworthiness It does this by supposedly measuring the likelihood you will pay your loans back and on time.

Your credit score is usually based on five overall factors: 1) credit utilization, 2) payment history, 3) the age of your accounts, 4) the types or mix of credit and 5) credit inquires.

Credit Utilization Rate

Credit usage is, according to many sources, approximately 30% of your credit score1.

Your credit utilization rate, also known as your balance-to-limit ratio compares your total balances to your total credit limits. Generally, the higher your credit utilization (the more you owe vs. the amount of credit available), the lower your credit score will be.

So two key ways to raise your credit score are to pay off your debt as quickly as possible, or shift your balances to a low interest rate card (provided you don’t already have too any cards).

Transferring a balance from one credit card to a new card may add an inquiry to your file, which could cause a temporary but usually small decrease.

However, you if you aren’t taking on new debt and you are increasing your available credit, this should decrease your total balance-to-limit ratio, which may increase your credit score.

Age of Your Credit Accounts

Your credit history accounts for 15% of your credit score1.

Generally, the longer your credit history the higher your score. That’s why it’s important to establish credit early and to make it a habit of paying ON TIME>.

Your credit history is calculated by taking the average the length of your credit accounts and the age of your oldest account.

Balance transfers between existing credit accounts typically won’t impact your score in terms of your credit history. However, when you apply for a new credit card your age of credit will decrease.

Also, if you close a credit account after transferring its balance that can impact your score because it will reduce the overall age of your credit accounts.

Credit Inquires and Why They Matter

New credit inquires make up 10% of your credit score1.

Each time you apply for a new credit card, a “hard inquiry” is placed on your credit report. Hard inquiries from credit card issuers remain on your credit report for 2 years1.

According to FICO, inquires generally only drop a credit score five points or less depending on the other information in your credit report. Too many applications for credit cards can harm your credit score and reduce your chances of approval because it often indicates you pose a higher lending risk.

It’s important to remember that any change in your credit use can affect your score, but over time this could be a positive change. Credit scores frequently move up and down frequently to reflect the information changes within your credit file. Checking your credit score is a good way to keep track of changes to your credit and monitor the impact of positive or negative events.

When considering a balance transfer it’s important to look at the big picture and read the fine print carefully. Understand all the costs involved and think about the cost of the balance transfer versus the long-term cost of carrying high interest debt.

Legal Disclaimer: CR Publishing provides quality and actionable do it yourself products and information to consumers who want to improve credit and/or to get rid of debt.The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.
FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

I Want To Take A Summer Vacation….But How Will a Card Balance Transfer Affect My Credit Score?

It’s summer time and you may be craving a long get away. But if you’re thinking about a new card and a balance transfer to get more credit read this first for the pros and the cons.

When you have high interest credit card debt, a balance transfer can be an enticing but dangerous offer (especially in the summer when you want to get away).

If you have a small balance and only one or two credit cards accepting a balance transfer offer and a new card might increase your score…since you now have more available credit.
Click here for more on a better mix of cards and credit.

So you may be able to take that vacation AND in the long run, improve your score.

BUT….

while a balance transfer can save you money in the short run, it’s important to consider the overall impact of a new card and a higher balance on your credit score.

How a balance transfer will affect your credit score depends on several factors, including:

>The total amount transferred to the new card
>Your new available credit limit as compared to your available credit
>If you’re transferring to pay off a credit account in full, and
>If you close a credit account.

And remember, that closing an account will not remove it from the credit report, so it will be calculated into the score. The closed account can be used to determine length of credit history and also payment history which can be very important to overall score.

Of course, paying off the balance after you transfer may also positively affect your credit score.

So this summer be careful not to open too many cards and avoid increasing your credit card debt BUT consider a low percentage balance offer if you can pay it back fast and you have two or fewer cards. The specifics of how FICO calculates the score are complicated so for more information about balance transfers and your FICO score CLICK HERE to see part two of this article

Legal Disclaimer: CR Publishing provides quality and actionable do it yourself information and products to consumers who want to improve or build credit and/or to get rid of debt. The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.

FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

Can you change your due dates?

The short answer is yes. In fact, it can be a great way to avoid late penalties and taking a hit on your credit score while you are on vacation or traveling to an area that you wont have the ability to pay your credit card bills. Many companies and lenders, including Discover and Barclays will allow you to switch your due date as long as it is within that billing cycle.

How is this useful though? In the past if you were traveling you either had to have access to the internet to pay online or pre-pay your statements to avoid any late fees or score penalties. This might still be a great option though because pre-paying statements and getting those balances paid down can free up more spending power without having to worry about going over that magic 30% number we have talked about so many times.

But If you are unable to pre-pay or you know that your budget depends on a check coming in you are able to move that due date and still make on-time or early payments before, during, or after your vacation.

It is important though to stick to your budget each month and especially for your vacation. Be sure to check out 3.5 Tips To Keeping Your Wallet & Credit Safe This Summer before you plan your next summer trip.

Be sure to also grab your copy of our free e-book on 28 credit secrets that banks and credit companies don’t want you to know!

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