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TopConsumerReviews.com 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.

4 Surprising Ways Maxing Out Your Credit Card Can Hurt You

As you can see, maxing out your credit card can be a very bad idea. In fact, you should aim to keep your card balance below 30% of your available credit at most. To make sure you don't charge too much ...

Published:  Wed, 14 Aug 2019 12:19:00 GMT



How to get your grown kids to stop using your credit cards

Making your child an authorized user on your credit card isn't a bad idea - many parents do so when a teenager starts driving. It allows your teen to use your credit to make purchases before they can ...

Published:  Fri, 16 Aug 2019 05:27:00 GMT



3 Surprising Ways Credit Cards Saved (Or Could Have Saved) My Financial Wellness

I'm not one of those people who thinks credit cards are all bad though. In fact, here are three ways credit cards have actually helped or could have helped my financial wellness after a few recent ...

Published:  Mon, 12 Aug 2019 07:02:00 GMT



GasBuddy Study Reveals Americans Prefer Debit Cards to Credit When at the Gas Pump

Survey responses from the GasBuddy study may highlight the underlying hesitation of applying for a credit card due to bad credit or no credit, as well as the hesitation to put more potential debt ...

Published:  Thu, 15 Aug 2019 06:45:00 GMT



Beware these hidden credit card cash advance fees

If lenders see that you regularly withdraw cash on a credit card, they will suspect you have bad money habits and may be reluctant to give you a mortgage, loan or new card. Cash advance fees should be ...

Published:  Fri, 16 Aug 2019 01:00:06 GMT



How to Get Student Loans With Bad Credit

Getting student loans when your credit is bad Having bad credit won't necessarily prevent ... You can also get a secured credit card and establish a credit history by making payments on that account ...

Published:  Tue, 13 Aug 2019 14:11:00 GMT



Credit Card Fraud vs. Identity Theft: What's the Difference?

Once the thief has your card or card information, he or she could use it to make unauthorized purchases. How bad it can get. In some instances, credit card fraud can have lasting effects ...

Published:  Tue, 13 Aug 2019 10:48:00 GMT



How much privacy should consumers have to give up for a credit card?

Laughlin said he doesn't believe giving up that much privacy for a credit card is worth it ... Concordia Cemetery has struggled through a long string of bad luck, going back 18 years when a former ...

Published:  Fri, 16 Aug 2019 16:49:00 GMT



Credit Card Collections: When Recession Sirens Sound, Get In Front of the Credit Risk

Credit card loss rates for top credit card issuers are still below 4%. Many smaller issuers are running twice that today. If you recall the dismal days of 2007-2008, top issuers each peaked above 10% ...

Published:  Thu, 15 Aug 2019 11:05:00 GMT



Apple Card: My first day with Apple's new credit card

More specifically, the Apple Card. By no means do I need another credit card, my wife and I had essentially paid off all debt from bad financial decisions many years ago. But, curiosity got the best ...

Published:  Fri, 09 Aug 2019 15:46:00 GMT



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