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January 27, 2011

7 Reasons Good Credit is Important
Filed under: Building Credit,Credit Counseling,Credit Repair — Tags: attractive credit attractive credit attractive credit secrets authorized user accounts bad credit bankruptcy build credit build credit after bankruptcy Building Credit charge-offs credit and jobs cred, credit report repair — admin @ 1:25 pm

7 Reasons Good Credit is Important

You never realize just how much you need good credit until you try to use credit and you don’t have it. There are many things you can’t do these days unless you have good credit. That includes things like getting a job and even a place to live. Here are some of the reasons that good credit is so important.

Buying a House or Renting an Apartment

Without good credit, you’ll have a hard time finding a place to live. Of course, mortgage lenders check your credit before they’ll give you a loan to purchase a house. If you don’t have a good credit score, you could end up with a high interest rate loan. Worse, you could be denied completely. Even landlords check credit before allowing you to sign an apartment lease.

Once you get a home or apartment, good credit will come into play when you get utilities turned on in your name. Most service providers do a credit check before turning on your electricity, gas, water, cable, and other services. If you don’t have good credit, you will likely have to pay a high security deposit before you can have services turned on in your name.

Buying a Car

Buying a new car requires good credit, too. Auto lenders run a credit check before approving an auto loan application and, like a mortgage loan, you can be denied if you don’t have good credit. Unfortunately, not having good credit could leave you without the transportation you need.

Getting a Job

Good credit is vital to your career. So many potential employers now check for good credit as part of the hiring process. This is especially true in government and financial positions. Negative information in your credit history could keep you from getting hired. Not only do employers check for good good credit when they’re hiring new employees, they often do credit checks before giving some employees a promotion or a raise.

For Lower Insurance Rates

If you want the lowest insurance rates, you’ll have to have good credit. Insurance companies now check credit in the underwriting process. They say that people with poor credit histories have greater chances of defaulting. So, if you don’t have good credit, you’ll likely find yourself with a higher interest rate.

Starting Your Own Business

Thinking about starting your own business? Your credit will be a factor in getting the small business financing you need to get your business up and running. If you have bad credit, you may be denied for small business loans.

You can get around having good credit, but it will make life tougher. Since good credit is required in so many aspects of life, it’s better to work in repairing your credit than to go without the benefits of having a good credit score. Credit Repair Services can help with your credit reports. See what they have done by watching this video:

http://www.youtube.com/watch?v=wQKnqRuEVbA


Monitoring Your Credit Repair Progress
Filed under: Credit Repair — Tags: credit monitoring, Credit Repair — admin @ 1:16 pm

Monitoring Your Credit Repair Progress

When you’re going through the credit repair process, you want to know how you’re doing. That way, you can tell if your credit repair efforts are working or not. The easiest way to tell how your credit is improving (or not improving) is to review your credit report and credit score on a periodic basis.

You can manually order your credit reports and credits scores each month that you’re gong through credit repair. However, this could prove to be expensive since 3-in-1 credit reports and score can cost up to $39.95 per month.

Free Credit Monitoring

You can monitor your credit repair progress for free by ordering your annual credit reports through www.annualcreditreport.com. You can monitor your credit throughout the year by ordering one credit report every four months, rather than getting all three at one time. Review your credit reports to be sure that old negative information is no longer being reported; that unverified, disputed accounts are not listed; and that positive payment history is being accurately reported.

You can track your credit score fore free by using CreditKarma.com. The site has partnered with TransUnion, one of the three major credit bureaus, and advertisers to offer your credit score completely free. Using your credit score along with your credit reports can help you gauge your credit repair progress.

Trying Out Credit Monitoring Services

A more automatic way to monitor your credit is by enrolling in a credit monitoring service. These services are most often used to aid in early detection of identity theft, but they can also help track your credit repair progress.

Of course, you should look around at various services to see what’s offered since some credit monitoring services only monitor your credit report and credit score from a single credit bureau. Other services only give you alerts to changes in your credit score without any indication of changes to your credit score. The best service for monitoring your credit repair progress is one that offers credit reports and credit scores from all three credit bureaus. That way, you get a complete picture of your credit standing.

Many credit monitoring services offer free trials that you can use to decide which service provides the updates you need. If you decide you don’t like a service, make sure you cancel before the trial ends to keep your credit card from being charged.

Attractive Credit Repair Services