7 Tips to Bounce back from a Credit Score Disaster

1. Review your budget 2. Get a copy of your credit report 3. Contact your lenders 4. Pay your bills on time 5. Stay on your job 6. Use your credit wisely 7. Beware of scam artist - Gaining Financial Stability with Intelligence and Integrity! We are ONE of the best in the business!

Tips for Managing Credit Cards

Figure out what type of credit card is best for you Contrary to popular belief, there is no singular best credit card in the marketplace. Instead, the best product varies from person to person. For instance, if you need to make a big purchase, you should look for a low-interest credit card. On the other hand, if you pay your balances off in full every month, you'll want to look into a rewards card. Knowledge is Power and Credit is King! Call 18004421591 to start Gaining Financial Stability with Intelligence and Integrity!

What does the Credit Scoring Models Mean To You? While there are many different scoring models, the same principles for improving your credit score apply across the board. What is far more important than the number itself is understanding what you need to do to make that number better. The scores may be different, but risk factors tend to be very consistent from one credit score to the next. Credit Scores and Credit improvement will boil down to three key steps; 1. Pay all your bills on time, because payment history makes up 35 percent of your FICO score. 2. Keep revolving balances low, ideally to 30 percent or less of your available credit, and 3. Open new credit when you need it. You don't need a lot of different accounts, so don’t be tempted by those credit offers that you get in the mail or when you go to a store. Credit is King and Knowledge is Power. Call 18004421591 to start Gaining Financial Stability with Intelligence and Integrity! We are ONE of the best in the business.

Some Financial Moves to Make Before New Year's Eve Make a Plan to Get Out of Debt You may not be able to get out of debt between now and the end of the holiday season but you can set yourself up now so you'll be debt-free very soon. Of course the first step is to watch your spending over the holidays. Don't overdo it. That only makes it harder to solve your debt situation. Create a system to eliminate debt by first consolidating and refinancing to the lowest possible interest rate. Once you do that, put all the muscle (and money) you can towards paying off the highest cost debt you have and make the minimum payments towards other credit card balances. As you pay off your most expensive debt continue to keep your debt payments as high as possible towards the next highest-cost debt. Repeat this process until you are debt-free. Believe me it won't take that long. But you won't ever be done if you don't start. Why not begin the process of lowering your cost of credit card debt today? ** (You can use this free calculator to see how long it will take to pay off your credit card debt. You can also check your credit scores for free to see how your debt is affecting your credit standing.) Knowledge is Power and Credit is King!

Make Sure Your Credit Reports Are Accurate It’s hard to see an F on your report card. It’s even worse to see an F when you know you really deserved an A. That’s exactly what it feels like to find out you have a bad credit score even though you’ve been paying your bills on time. Each of us has three credit reports — one from each of the three major credit bureaus: Experian, Equifax and TransUnion. Credit reports can and very often do have mistakes on them. A 2015 study from the Federal Trade Commission found that 1 in 5 consumers had an error on at least one of their credit reports, and a follow-up study in 2017 (by the Federal Trade Commission) found that those who reported an unresolved error on one of their reports believe that at least one piece of disputed information is still inaccurate. Since your credit scores are based on the data in your credit reports, it’s incredibly important to make sure all of that information is accurate. If you have a mistake on your credit report, your credit score will reflect that mistake. It’s easy to check your credit reports from each of the three major credit reporting agencies. You’re entitled to a free copy, once a year, of all three of your credit reports under the Fair Credit Reporting Act. These reports can be accessed via AnnualCreditReport.com, the government-mandated site run by the major bureaus. Once you have your credit reports in hand, here’s a quick checklist of questions to ask yourself to help you spot potential errors: Is all of your personal information accurate? (That can include your Social Security number, birth date, full name and address.) Are all of your credit accounts being reported? Are there any late or missed payments listed that you remember making on time? Are there any accounts or applications for credit you don’t recognize? Are there any items from decades ago still appearing on your report? It helps to go through your credit reports with a highlighter and pick out any and all inconsistencies. Keep in mind that a credit report from one bureau may have an error, while another may not. That’s why it’s so important to check all three of your credit reports for inaccuracies. You may find none, a few, or perhaps many errors on your reports. That’s where the next step to improving your credit comes in. Knowledge is Power and Credit is King! Call 18004421591 to start Gaining Financial Stability with Intelligence and Integrity! We are ONE of the best in the business!

This Tip Will Help You Get The Most From A Credit Card Most people agree that using a credit card to pay for day-to-day purchases is a smart idea. After all, credit is safe, convenient, and rewarding. Plus, if you're responsible, you'll also be building a solid credit score with every swipe. But are you really making the most of your plastic experience? Here is a credit card tip everyone should know: Shopping through rewards malls will earn you stellar rewards. If you're a big online shopper, you should definitely use your credit card's rewards mall every time you place an order. This is an easy and convenient way to earn tons of extra rewards on every dollar you spend. And don't assume that your particular issuer doesn't offer this benefit. Even if it's not widely advertised, look around a little the next time you visit your credit card's website. You'll probably find some type of rewards mall or portal that you never noticed before. Knowledge is Power and Credit is King!

What's Your Bottom Line.... Credit cards are tools that build your reputation as a financially responsible adult. With the right intentions and proper use, they can build and rebuild security. Used otherwise, they can spell financial trouble. Holding multiple lines of credit can be beneficial if you act proactively and ensure to pay off the balances on a monthly basis and do not max out the credit limit; staying at or below 30 percent has been shown to send the clearest message to lenders that you are financially responsible and accountable for your spending habits. However, multiple lines of credit may carry too high of a risk if they are used as “free cash” to finance items your bank account cannot handle, which can lead to large debt problems and a murky credit history. To avoid falling into the frequent trap of using plastic in a pinch, change your mindset to view credit cards as an extension of check and debit cards, and only spend what your bank account can handle. With proper control, holding credit can be an unparalleled financial benefit. As with any contract or financial decision, think before you sign. Understand what you are getting yourself into by opening additional lines of credit or holding lines of credit that are not helping to build your security. Don’t be caught unprepared. Take control of your financial health today.