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      May 23, 2019

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Take Charge of Your Credit Score


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Take Charge of Your Credit Score

The bad news is that youíve come out of the recession with shaky credit but the good news is that poor credit is only temporary. Many Americans have suffered a serious financial setback in recent years. Remember that youíre not alone and itís not as embarrassing as you might think. But, itís time now to own your credit score and take charge of your financial health. Several steps can get you on the road to improving that fledging score into something that is much larger and more powerful in the eyes of lenders.

  • Take a look at the damage. Obtain a copy of your credit report from all three agencies. More often than not youíll find reporting inaccuracies. Hereís your chance to instantly improve your credit score. Dispute any inaccuracies with the respective lender. Often credit card companies are unable to provide proof of the negative occurrences and will be required to reverse the entry with the reporting agencies. Continue to periodically review your credit history to identify inaccuracies and monitor your progress.
  • If you still have any open credit cards look for those with unfavorable characteristics such as being over the credit limit. By bringing balances within the credit limit or preferably lower youíll see an improvement to your credit score. Ideally a credit balance is maintained at 30% of the available credit or lower to get the praises of credit card companies.
  • If you canít afford the minimum monthly payments on your existing credit cards many companies are willing to talk to you about creating a payment plan. This will not improve your credit score but will help stop the bleeding.
  • If you donít currently have any credit cards open in your name look for those that are designed for people in your situation. Secured credit cards that report to all three agencies are going to be your best option to directly improving your current credit score. Of course, thatís only if you spend responsibly and make monthly payments on time every month with no inconsistencies. When choosing a credit card make sure youíre mindful of the fees associated with the application process and any annual charges. Often youíll have to live with fees associated with these types of credit cards but make sure to identify the costs ahead of time.
  • Utilize your new credit card each month but do so in a responsible manner. Youíll get the biggest credit score boast by regularly using your credit card while keeping the spending down and paying off the balance each month when possible. You donít have to buy frivolous goods with your credit cards Ė use them to pay every day expenses such as cell phone bills or grocery purchases.

Taking charge of your credit score, after a rough patch, is a great way to get yourself and your credit history back on the road to financial strength. Consider opening a new credit card to prove to lenders that you can be a responsible consumer if given the chance.

Millennials had been good at staying out of bad credit card debt. Not anymore

Credit card delinquencies of 90 days or more have risen the most sharply among young Americans, as financial services firms entice them with card offers. Millennials, raised during the Great Recession ...

Published:  Tue, 21 May 2019 06:32:00 GMT

Here are 6 rules to follow to avoid getting deep into credit card debt

Maxing out your credit cards - or charging up to the credit card limit - is a bad idea. Not only will you end up with a high balance that it could be harder to pay off, but you could also hurt your ...

Published:  Mon, 20 May 2019 10:17:00 GMT

Job Loss and Medical Expenses Leading Causes of Bad Credit, According to Elevate's Center for the New Middle Class

At this level, Americans begin to lose access to traditional credit products, like personal loans and credit cards, and everyday life becomes harder as a result. According to the new report, 55% of ...

Published:  Tue, 21 May 2019 05:30:00 GMT

Would Credit Card Interest Capped At 15% Help Or Hurt You?

... see the rate cap proposal as cutting down excessive credit card profits. However, credit tightening is likely to follow. Interest rates vary based on risk that's why the average APR for bad credit ...

Published:  Mon, 20 May 2019 22:11:00 GMT

How To Avoid Falling Victim To Credit Card Skimmers

Authorities have found card skimmers almost anywhere credit or debit card get used ... But in this case the bad guys didn't stop with skimmers swiping your card. "They had a piece that ...

Published:  Mon, 20 May 2019 20:14:00 GMT

Save Me Steve: Credit cards, one-ring scams & more

He calls it bad news. It's one thing to have a job and another to be a leader in the workplace. Author and businessman Stedman Graham is hoping to create more of the latter with his new book, ...

Published:  Wed, 22 May 2019 09:45:00 GMT

Credit Cards in Venezuela: Bring Cash, Lots of It

That's good news/bad news. Payment brands will not be affected by the change but no one likes to see a country fail. Not having a functional international card system in a nation is certainly a weak ...

Published:  Wed, 22 May 2019 07:10:00 GMT

Indebted Chinese seek wisdom of credit card 'goddesses' as retail lending surges

SINGAPORE/SHANGHAI (Reuters) - In a ballroom at the Vienna International Hotel in Shanghai, Mei Liangming was giving a lecture on the ins and outs of getting credit cards, rolling over debts with ...

Published:  Tue, 30 Apr 2019 00:35:00 GMT

What Is a Credit Card Balance?

Roughly 70% of American households own a credit card and the average individual owes a little over $5,300 on it. This isn't always a bad thing. In fact, when used wisely, many consumers can get ...

Published:  Tue, 07 May 2019 07:37:00 GMT

Bad Credit Card Debt Is on the Rise

Red flags are flying in the credit-card industry after a key gauge of bad debt jumped to the highest level in almost seven years. The charge-off rate -- the percentage of loans companies have decided ...

Published:  Sat, 27 Apr 2019 02:52:00 GMT

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