You And Your Credit Scores PLR Ebook

Table of Contents

1. Credit Basics – What’s your credit score? ………….3
What’s a credit score? ……………………………4
How to discover what your current credit score is…………………………….4
How credit scores are calculated ……………. 5
FICO and the law: the FICO computer statistical models are regulated.7
How your FICO scores are calculated ………………. 7
Your payment history: 35%……………………… 8
Your outstanding debt: 30%……………………………..8
The length of your credit history: 5%..8
Recent inquiries on your report: 10%..8
The kinds of credit that you use: 10%.9
If your credit score is low, you’ll have problems getting a loan…………. 9
How to Get Your Credit Score …………………………………… 10
You’re entitled to one free report, each 12 months…………………………..10
2. Why your credit score is what it is …………………….. 11
What’s included in your credit report?…………………………………………….11
Is the report accurate? It may not be 12
Correcting the errors in your credit report ………………… 13
If the agency says the report is accurate, and inaccuracies aren’tcorrected……… 14
If the agency won’t correct an item, and you want it corrected –without explanation…………………..14
3. Techniques to increase your credit score ………………………………..16
Get your credit reports and make sure that they’re accurate ………………………………………. 16
Apply for credit cards and make repayments ………………16
Pay your bills promptly via online banking ………………… 17
Apply to increase your credit limits on your card or cards ………………………………………….. 17
4. Repairing your credit. ……………………………………… 18
Beware the “credit repair” scammers …………………………18
Signs of a credit repair scam……….. 19
Rebuilding your credit after bankruptcy – techniques to use ……………………………………….19
5. Creating a budget, and living well ……………………..22
First: your income — find out what’s going out, and match it to what’s coming in ……….. 22
1. Get an inexpensive money management program or set up aspreadsheet………………………23
2. Enter a SAVINGS item into your budget……………………………………… 24
3. Keep your receipts and track your spending ………………………………. 25
Where can you save money? ……………………………………….25
Saving to invest: let your money make money for you … 26
What’s next for you? …. 27

Sample Content Preview

1. Credit Basics – What’s your credit score?

If you ever want to borrow money, whether it’s for small everyday items via a credit card or for larger loans like a mortgage, you need to know your credit score — it’s vital information. Most people have no idea what their credit score might be, and this handicaps them in many ways.

In this chapter you’ll discover the importance of your credit score. What’s a credit score? If you’ve tried to get a loan, and have been refused, you will have heard the term “credit score”. Getting the loan you want, and beyond that, living the sane financial life begins with understanding your credit score. Once you know your credit score, if it’s too low, you can begin to rebuild it.

How to discover what your current credit score is

You have a legal right to know your credit score, but most people first hear the term “credit score” when they’ve been refused for a loan. Even if you’ve NEVER been refused, you need to keep an eye on your credit score because your score can be filled with mistakes, and correcting a mass of mistakes is a huge job. If you keep an annual check of your credit score, you can correct any errors immediately.

You can take control of your credit score

If you’ve been refused credit because of your credit score the first step in building (or rebuilding) your credit score is to find out what YOUR credit score is NOW. You may be depressed and anxious, however you can find out, and this knowledge is power. Even if you’re in debt, and you know what it’s like to dread a phone call, or a knock on the door, you need to take control of your credit score. Even if your situation is so bad that you don’t even open your bills, you shove them into a drawer so that you won’t have to think about them, you can take control. With a bad credit score, getting a loan is almost

Other Details

- 2 Ebooks (PDF, DOC)
- Year Released/Circulated: 2008
- File Size: 220 KB

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