http://www.artwoo.com Returned search results for credit score Copyright 2008 Mon, 13 Oct 2008 05:06:32 +0000 http://www.artwoo.com/rss/credit+score http://www.artwoo.com/article/what-you-should-know-about-a-bad-credit-score http://www.artwoo.com/article/what-you-should-know-about-a-bad-credit-score#comments Sun, 17 Sep 2006 02:27:06 +0000 credit scorecredit scoreshttpbad creditcredit helpcredit accountscredit history http://www.artwoo.com/article/what-you-should-know-about-a-bad-credit-score bad credit. Bad credit might not remove the ability to buy an item, but sometimes it will cause that item to be quite a bit more expensive. The worst mistake that a person can make financially is to have bad credit. Credit is a very delicate thing, because only a few mistakes can make a credit score bad. Good credit takes hard work and a sequence of events that prove a person can be trusted with credit. Bad credit only takes a few mistakes and a person can be hurt for a lifetime.

The quickest way to turn a person's credit bad is not making payments on time, or not at all. One or two late payments will not automatically turn a person's credit bad, but anymore than two and a person's credit score will start to slip rapidly. Another way to lower a credit score is to request a large amount of credit in a short period of time. Creditors get shy to give credit when someone is amassing a large amount of credit in a short period of time.

Credit scores are based on a scale from 300 to 850. An excellent credit score is any score over 750. A very good credit score is 720 or more. An acceptable credit score is 660 to 720. A bad credit score is anything less than 660. To illustrate how badly a missed payment can affect your credit score, one missed payment can drop a person's credit score anywhere from 50 to 100 points. Your credit score is based on a number of criteria that include 35% on your payment history, 30% on the amount you currently owe, 15% on the length of your credit history, 10% on the number of new credit accounts you have opened or applied for, and 10% on the mix of credit accounts you have. The only good thing about having bad credit is that you can fix your score over time by practicing good credit habits. Visit Bad Credit Help for more resources and help with your credit. http://www.badcrediting.com/ ]]> http://www.artwoo.com/article/bad-credit-home-equity-line-of-credit http://www.artwoo.com/article/bad-credit-home-equity-line-of-credit#comments Thu, 13 Apr 2006 15:00:04 +0000 fair isaac corporationcredit scoreexperiantransunionequifaxcredit scoreshome equity line of credit http://www.artwoo.com/article/bad-credit-home-equity-line-of-credit home equity line of credit. Bad credit can be the reason for a poor credit score.

What is a credit score?

The credit score varies between the values of 300 and 850. The credit score is the creation of the Fair Isaac Corporation. Lenders who arrange for a home equity line of credit use the credit score in order to set the interest rate that will be charged the homeowner.

Homeowners with a low credit score will need to pay higher interest payments. A score above 700 is assurance of good interest rates. The credit score also serves as an indicator of whether or not a lender should accept a homeowner's application for credit. Decisions on credit limits for the homeowner are likewise based on the homeowner's credit score.

The credit score is a function of the homeowner's past line of credit. In the U.S., three different agencies keep a record of each consumer's line of credit. Those agencies are Experian, TransUnion and Equifax. If a homeowner with a low credit score wants to raise that score, then the homeowner must contact each of those three agencies.

The effort to overcome a record of bad credit and to raise a credit score requires the contesting of false claims that money is owed. If the homeowner can prove that the claim for money is spurious then the homeowner has an opportunity to raise his credit score. This action should be taken if the homeowner who plans to seek a home equity line of credit has a score less than 640. Such a score would be a sign of bad credit.

The contesting of a credit score is not like a shot in the dark. A survey of credit reports in the U.S. showed that 80% of such reports contained mistakes. Thus, a homeowner could have good reason to question the credit score that is being used to determine the interest rate on a home equity line of credit.

The credit score for a couple, a pair that are joint homeowners, is based on three credit scores from the person with the most sizable income. This is the score that the homeowner needs to make correct. Such correction may require a written statement to each of the above-mentioned agencies. Those agencies will then contact the homeowner and indicate if more information is necessary. If the homeowner is lucky, then the credit score will be increased and the interest rate for the desired home equity line of credit will be lowered.

Once the homeowner has a good credit score then he will want to avoid slipping back into that region of bad credit. This means that the homeowners must avoid the sort of spending that carries them to the borders of their credit limits. About The Author: Whom can I turn to for help? There are many resources available to assist with credit repair. Most credit repair agencies offer free services, but the author has developed a free website on credit repair strategies - just visit: http://www.credit-repair-consultant.com ]]> http://www.artwoo.com/article/how-to-get-low-cost-health-insurance-in-the-commonwealth-of-virginia http://www.artwoo.com/article/how-to-get-low-cost-health-insurance-in-the-commonwealth-of-virginia#comments Thu, 13 Sep 2007 10:15:01 +0000 health insurance policyhealth insurance companieshealth insurance companyhealth insurance planpoor credit scorelow cost health insurancecommonwealth of virginia http://www.artwoo.com/article/how-to-get-low-cost-health-insurance-in-the-commonwealth-of-virginia low cost health insurance in the Commonwealth of Virginia? It's true. Many health insurance companies look at a potential policyholder's credit score when determining how much that person will pay for a health insurance plan.

Be careful not to confuse your credit score with your credit history =96 they're very similar, but still different things. Your credit history is a full outline of your financial past =96 payments made, credit applied for, credit received, foreclosures, bankruptcies =96 you get the idea. Your credit score is an abstract of all of the factors included in your credit history summed up in one number.

So why could your credit score be affecting your chances of obtaining low cost health insurance in the Commonwealth of Virginia?

Well, if you have a poor credit score, health insurance companies may charge you more for a health insurance policy than someone with a good credit score. Large insurance companies may also create a specific list of health insurance companies under them that can offer you a health insurance policy based on your credit score.

If you have no credit at all, i.e., you have no credit score, the health insurance company will treat you in one of two ways: as if you had a neutral credit score, or, specialize their underwriting policy for your health insurance policy based on the fact that you have no credit score.

Remember, a health insurance company can indeed refuse to offer you a health insurance policy =96 much less a low cost health insurance policy =96 in the Commonwealth of Virginia if they aren't pleased with your credit score. They can not, however, refuse to renew your health insurance policy based completely on your credit score.

To give yourself a heads up, check out your credit score before you begin your search for low cost health insurance in the Commonwealth of Virginia. http://ezquoteguide.com/health/ Get Low Cost Health Insurance in Virginia http://ezquoteguide.com/health-ohio.shtml Easy Insurance Plans in Ohio ]]> http://www.artwoo.com/article/obtaining-the-best-deal-on-a-debt-consolidation-loan-rate-improving-your-credit-score http://www.artwoo.com/article/obtaining-the-best-deal-on-a-debt-consolidation-loan-rate-improving-your-credit-score#comments Thu, 29 Mar 2007 07:48:00 +0000 debt consolidation loancredit scorefico scorescore worksloan ratenecessarilyloan options http://www.artwoo.com/article/obtaining-the-best-deal-on-a-debt-consolidation-loan-rate-improving-your-credit-score debt consolidation loan rate, you may have some significant questions about how you actually can get the best deal on a debt consolidation loan rate. You may be concerned about how your credit score can impact the costs associated with a debt consolidation loan rate.



Of course, while it is true that a debt consolidation loan can be a good tool to assist in the improvement of your credit score, you do need to realize and understand that you will want the best possible credit score you can muster under the circumstances even before you make application for a debt consolidation loan in the first instance. As one of the primary objectives of a debt consolidation loan is saving yourself money, you necessarily will want to do everything possible to obtain the best possible debt consolidation loan rate.

At the outset, as you go about seeking the best possible debt consolidation loan rate, you need to have a basic understanding of what a credit score is all about and how a credit score works.

Your credit (or FICO) score is a bit like a report card or even a grade in school. Your credit score is a number that signifies how good or poor your credit history is at the present point in time.



The higher your credit score, the more car loan options that will be available to you. The higher your credit score, the better terms you will be able to obtain when it comes to a debt consolidation loan rate. If your credit score is so low, you will have more difficulties in finding a good debt consolidation loan rate and more problems getting a favorable debt consolidation loan rate if you are approved for such a loan.

As mentioned, the higher your credit score, the better deal you will be able to in regard to a debt consolidation loan rate. The interest debt consolidation loan rate will rise as your credit score drops downward.

Therefore, and as was set forth at the start of this informational article, if you want the best possible deal when it comes to a debt consolidation loan rate, you will want to try and make certain that your credit score is in the best possible shape before you even forge ahead and make application for debt consolidation financing.

In considering your credit score and your desire for a good debt consolidation loan rate, you will want to make absolutely certain that your credit report is accurate. The majority of credit reports in this day and age contain significant inaccuracies. It is important for you to make certain that your credit report completely is accurate. By making certain that your credit report is wholly accurate, you will be ensuring that you have the highest possible credit score and the ability to obtain the best possible deal under the circumstances when it comes to a debt consolidation loan rate. Thomas Erikson is co-founder of http://www.your-debt-consolidation-loan.com which provides debt consolidation information and solutions. Find out how you can effectively get your finances under control with a Debt Consolidation Loan Rate. ]]> http://www.artwoo.com/article/raising-your-credit-score-fast http://www.artwoo.com/article/raising-your-credit-score-fast#comments Tue, 26 Aug 2008 09:01:32 +0000 lending institutionsconsistent actioncredit scoreabilicar dealershipmisinformationdifferent places http://www.artwoo.com/article/raising-your-credit-score-fast credit score fast. Although this certainly is possible for you to do, it is going to take some positive action on your part and perhaps even some consistent action in order for things to happen for the long term. If you just want to raise your credit report a few numbers, however, there are some ways for you to be able to do this. Caution needs to be taken, however, so that you do not end up lowering your credit score in the process. Why do I say this?

The reason why this is the case is because every time you pull your credit report or it is pulled by another company, it is going to hurt your credit score temporarily. The reason that this occurs is because it allows lending institutions to know if you are shopping for a loan. For example, if you go into a car dealership and are having a difficult time because your credit score is too low, they may end up shopping your for your loan at a lot of different places. Each of these lending institutions is also going to pull your credit score and this is going to lower it considerably. That is why if you are interested in raising your credit score fast, you should pull your credit score once in order to determine what the best way is to go about it.

Typically, you should look for mistakes that are on your credit report, either because of misinformation or perhaps even because of a case of identity theft. If you find this misinformation, it is possible for you to contact the credit agency and have the information corrected. Unfortunately, it can take several months for the new credit score to show up. That is, of course, unless you pay for a re score which will make the new credit score show up immediately. If you're interested in raising your credit score fast and find mistakes on your credit report, paying for a re score can shoot your numbers up rather quickly.

Having a copy of your credit report is also going to give you the ability to see if there are some unknown things on it which is lowering your credit score as well. These would include such things as old department store credit cards which you may have forgotten about or it may just help you to identify the fact that you are spread a little bit too thin. Try to get rid of as many credit cards as you possibly can although it always helps for you to keep a few open lines of credit in the process. This is another way of raising your credit score fast and you would be surprised with how quickly making these little changes is going to affect your overall numbers.Faranak Groves has many years of experience in working in the financial industry .she brings this to her readers via her articles and web http://site.www.houseofrapidcreditrepair.com]]> http://www.artwoo.com/article/myths-and-truth-about-credit-score http://www.artwoo.com/article/myths-and-truth-about-credit-score#comments Mon, 10 Apr 2006 21:00:07 +0000 fair isaac corporationfico scorecredit report inquiriescredit scorecredit cardsemployment statusbanks http://www.artwoo.com/article/myths-and-truth-about-credit-score Credit score is the key factor determining approval of almost any type of credit. It is based on the information contained in your credit report files. The widely used FICO score was developed by Fair Isaac Corporation, and it is a formula which assesses your potential credit risk.

The information used to calculate credit score can be broken down into five major parts. Your payment history with banks and other lenders will account for 35% of the score, the amount of money you owe for 30%, and the length of your credit history for 15%. New credit and a statistical assessment of how healthy your credit mix is will both account for 10%.

Credit score is not based in any way on the following information:

- references to debt management or credit counseling programs. - person's marital status. - current employment status, including how long with the same employer. - credit report inquiries made by you, employers, insurance companies, or banks if made without your knowledge. - what interest rates are charged on your credit cards, etc. - public assistance received. - person's age. - child or family support received.

You can increase your score by:

- always paying bills on time. - paying off or reducing credit card and other debt. - keeping old, unused credit cards, departments store cards and other "revolving" credit accounts open, even if you don't use them. - not applying for credit very often. - correcting mistakes on your credit reports.

Banks decisions are made according to their own standards.

While the majority of lenders use credit score as a key factor in approving credit, other facts play their parts as well, among them: your income, employment status and length of time at present address, to name a few. Each bank has its own standards. What score is acceptable for a particular loan or credit product depends solely on a lender. The person's credit score might not be high enough to get credit with one bank, and perfectly acceptable with another. About The Author: More about credit score and tips on improving your credit can be found in Simon Fox's article http://www.howmuchanswers.com/credit/score/26.htm and http://www.howmuchanswers.com/credit/score/25.htm ]]> http://www.artwoo.com/article/your-credit-score-and-how-it-affects-you http://www.artwoo.com/article/your-credit-score-and-how-it-affects-you#comments Mon, 21 Aug 2006 16:27:15 +0000 credit scorecredit scoring systempersonal loanscredit bureauscredit cardsfaux paslenders http://www.artwoo.com/article/your-credit-score-and-how-it-affects-you credit cards may not seem like a big deal to you now, but when you decide to get serious about your financial situation, you'll realize you've made quite a mess for yourself.

It can be easy to push thoughts of repercussion for your financial faux pas out of your mind, but when you start applying for personal loans, mortgages, apartments- and possibly even jobs- you might be surprised at the answer.

If you're hearing 'no' left and right, you need to take a look at your credit report to find out just how much damage has been done. Your credit score often dictates whether or not a lender will approve you and if your credit score is very low, you probably won't be approved at all.

Most credit bureaus use a credit scoring system that ranks from 300 (the worst) to 850 (a perfect score). People with a score under 600 can expect to be charged very high interest rates if they are approved for a loan. A credit score well over 620 should be aimed for, and anything over 700 looks great to lenders.

If your credit score is very low- under 500- you probably aren't going to be approved for any loans. You will most likely be asked to supply a co-signer if you want to get the loan badly enough because your credit isn't good enough to get it on your own.

You can reestablish good score by paying your bills on time each month, but it will take some time. Six months of steady payments will start to increase your credit score, so keep making your due dates each month and you'll see it slowly start to rise.

Another way you can bump up your credit score is by paying off your credit cards. If you've only been paying the minimum and your cards are maxed out, this might be another reason your credit score is low. If you don't want to look like a financial risk to lenders, don't charge more than you can afford per month.

A high balance and no available credit gives the impression that you are financially unstable and lenders won't extend credit to you as a result. If you want to change how you're viewed by lenders, devise a strict monthly budget and stick to it. Set aside enough money to pay all of your bills per month and write down the due dates for each on a calendar if it will help you remember. Anything you do to help yourself get organized and financially responsible will go a long way to restoring your credit score. Visit http://www.creditandyou.com now to find out more about credit scoring, and what you can do starting right now to raise your credit score. ]]> http://www.artwoo.com/article/your-credit-score-and-a-low-interest-debt-consolidation-loan http://www.artwoo.com/article/your-credit-score-and-a-low-interest-debt-consolidation-loan#comments Fri, 14 Sep 2007 05:30:01 +0000 debt consolidation loancredit scorefico scorescore worksscore systemconsolidating your debtthree major credit reporting agencies http://www.artwoo.com/article/your-credit-score-and-a-low-interest-debt-consolidation-loan
If you are wondering whether or not a low interest debt consolidation loan is right for you, you likely have a number of questions. In this regard, you may be wondering how and why your credit score might effect your overall ability to obtain a low interest debt consolidation loan.

Through this article, you are provided with an informational overview of the role your credit score plays when it comes to applying and qualifying for a low interest debt consolidation loan. By considering this information, you will be in a better position to determine whether or not it will be worth your while to make application for a low interest debt consolidation loan at this point in time.

How Your Credit Score Works

You credit score -- or FICO score as it is called from time to time -- is computed based upon your credit history. In point of fact, the specific manner in which your credit score is determined is a proprietary secret of the Fair Issac and Company, the entity that worked with the three major credit reporting agencies to develop the credit or FICO score system in the first instance.

It is generally appropriate to consider your credit score as being something akin to a grade based on the manner in which you've used credit and dealt with your debt in the past. Of course, this is a simplistic explanation about how your credit score works =85 but, it is also an accurate way of explaining the way the credit or FICO score does work.

How Your Credit Score Will Impact Your Low Interest Debt Consolidation Loan Eligibility

If you credit score dips too low, you no longer will be able to obtain a low interest debt consolidation loan. In fact, your credit score really does need to be in the good to excellent range for you to have the ability to qualify for a low interest debt consolidation loan. In other words, if you are interested in consolidating your debt as part of an overall debt management program or plan, you need to be proactive and actually seek out a low interest debt consolidation loan before your financial situation becomes out of line, negatively impacting your credit score and rendering it unlikely that you will be able to obtain a low interest debt consolidation loan.

Dealing with a Low Credit Score

If you do have a credit score that falls below that point at which you would be more likely to be approved for a low interest debt consolidation loan, you will want to forgo applying for a low interest debt consolidation loan for the time being. You will want to take steps to better your credit score in advance of applying for a low interest debt consolidation loan. Steps that you will want to consider taking include bringing all of your credit accounts current and paying down -- at least to some degree -- the balances on some of your credit accounts. You will also want to make certain that there is no incorrect information on your credit report that is negatively impacting your credit score. Thomas Erikson is co-founder of http://www.your-debt-consolidation-loan.com which provides debt consolidation information and solutions. Find out how you can effectively get your finances under control with a Low Interest Debt Consolidation Loan. ]]> http://www.artwoo.com/article/why-knowing-your-credit-score-can-save-you-from http://www.artwoo.com/article/why-knowing-your-credit-score-can-save-you-from#comments Wed, 12 Apr 2006 07:00:04 +0000 credit scorefiling for bankruptcyequifaxstudent loanshttpcreditorscredit report http://www.artwoo.com/article/why-knowing-your-credit-score-can-save-you-from credit score can most often mean the difference between going deeper into debt and getting out of it. Because most people do not keep track of their credit score, they often go into deep debt without even realizing it. Every time you are late making payments to a creditor or skip one all together, you are subjected to loosing points on your credit score. Your credit score is used to show creditors and lenders how much they can trust you to pay back your loans and/or purchases when credit is being offered. If your credit score is low, creditors are less likely to offer you credit because it shows that you are a higher risk customer.

Creditors have access to computers that will report all of your credit habits and transactions such as: bill paying, credit card payments, missed and skipped payments, and debt. The more you miss payments, the lower your score gets. The average person usually starts with a credit score of about 800 and every time you skip or miss payments, that number gets lower.

Once that credit score gets to a certain low number, usually around 500 or so, is when a lot of people will file for bankruptcy. When they do this these creditors are automatically paid in full, but the bankruptcy stays on your credit report. There is one type of debt that bankruptcy will not clear and that is any money that is owed to the government from taxes or student loans etc. Filing for bankruptcy should not be used for this.

Keeping track of your credit score is necessary these days because that score can go down faster than you can imagine. When you keep up to date with your credit score you can prevent it from getting to the danger point which is 500 or less and you can save yourself a lot of trouble later on like when you want to buy a house. Ideally you should try to keep your credit score at 700 or higher but 650 is still decent. If you want to get a copy of your credit score, you can visit equifax.com">http://www.equifax.com and use the credit report to get your credit back to where it should be.

Your credit score is the best thing that you can do to avoid bankruptcy for all of the reason I mentioned above. Why wouldn't you get a copy of your credit score if that was an assured method for you to be able to avoid going bankrupt? When you correct all of your credit problems beforehand, you can be sure that bankruptcy will not be an option. About The Author: For more information and articles relating to avoiding bankruptcy visit (http://www.avoidbankruptcyhome.com). For a free eCourse send a blank email to (bankruptcourse@aweber.com). eBook teaches you to repair your credit after bankruptcy. (http://findprofit.credit0001.hop.clickbank.net) ]]> http://www.artwoo.com/article/your-credit-score-free-ways-to-improve-it http://www.artwoo.com/article/your-credit-score-free-ways-to-improve-it#comments Sun, 03 Aug 2008 07:29:21 +0000 credit scorefact of lifecreditoreuropeansdebtscredit cardsinterest rate http://www.artwoo.com/article/your-credit-score-free-ways-to-improve-it credit score.

So now you need to know what is a credit score. It is what your creditor uses as an indicator to let them know to if you will be able to pay your debt back to them, should your loan be approved. Normally, the score is from 340 to 850 and if you do not score that well, your loan will by be disapproved or it may be still granted as long as you accept to pay a higher interest rate.

This may seem unfair given that you do not have money already, but it is a fact of life that we all have to live with. Its either you agree to their terms or you do not get the much needed funds you require.

Many Americans and Europeans get a good credit score. This is because they do not spend beyond their means and pay their bills on time.

For those who do not score well, they have to find a way to make ends meet by cutting down on their expenses and paying there debts of gradually. it is always good idea to talk to your creditor about any situation that arises, so they can come up with a payment plan, by doing this it will never appear on your permanent record. This is the smartest thing to do if you had a good credit score the year before.

If you have obtained many credit cards, you should cancel the others and only keep two. You should keep the two that you have had the longest as this will look good on your credit score.

If your credit score is just a few points from 700, then it is best to look at the document and see if everything stated there is correct. Who knows, you might get lucky and find out that there was an error made, this can often be the case for many people. If this is so all you need to do is call the credit agency to tell them about it and send any supporting documents, this is so an investigation can be done and the mistake can be corrected.

To get a copy of your credit score is quite easy, you can get in touch with one of these credit agencies namely Experian, Equifax or Transunion. Though the scoring system they use is different from one another, it states the same thing so you will know what it is. This report changes yearly, so get another one and compare the results versus the year before.

A good credit score of 700 and above can get you low interest rate when you whish to apply for a loan. With this money you will be able to buy a new house or car, pay for college tuition or even renovate your home. If you want to get such a loan, then you have to work for it as this number will not appear out of thin air.

It is always best to know what your credit score is before you even think of asking for a loan. This will avoid you the embarrassment of being told that there are issues with your credit score and remember if you are turned down, this will go on your credit file as well, having a negative effect.Learn to repair your credit with FREE Credit Score Tips. A popular credit report, score and repair website specializes in providing FREE Credit Score Help.]]> http://www.artwoo.com/article/5-easy-and-quick-ways-to-improve-your-credit http://www.artwoo.com/article/5-easy-and-quick-ways-to-improve-your-credit#comments Thu, 27 Apr 2006 18:50:01 +0000 credit scorediscover cardcredit cardscredit card companiesrevolving creditcredit checkscredit rating http://www.artwoo.com/article/5-easy-and-quick-ways-to-improve-your-credit Credit Score is one of your biggest financial assets. If your credit score is high, your borrowing rates will be low and therefore save you hundreds of dollars. The big mystery is how to maintain a high credit score. Well if you want to either maintain or repair your credit score, you are in luck, it can take as little as two months to raise your credit rating.

Your credit score is based on a few prime factors, there is no particular order in which I will discuss them (Some of them have higher weights in regards to the score). Repayment history, current debt owed, recent credit checks, and registered income (there are other factors as well). In order to repair or raise your score you may follow a few of the steps provided below.

1.) Pay off all revolving credit cards. Revolving credit cards are like Discover card or any other monthly credit cards. Even though you might pay before the deadline, credit card companies report the debt owed on a monthly basis which may be before the deadline. On your credit score it will not show as bad debt, but it will decrease your overall score. The standard recommendations are as follows. If you have one credit card, pay it off before the months end. Second, if you have two credit cards, pay the minimum on both of them and work on paying in full one of them first.

2.) Registered Income. This is your official salary from work. Basically the numbers they crunch are matched with what you earn. If you debt is larger than what you earn, your credit score is lowered. So, if you are an independent contractor or your income is just a little too low get a part time job. This will rise your potential earnings and increase your ability to repay your debt and therefore increase your credit score.

3.) Check your credit score online with one of the official companies to see what or why your credit score is the level it is. This will help you determine what you can really do to increase your credit score.

4.) Do not apply for every car, credit card, and home that you are looking at as an eager consumer. Because every time you try to purchase a home, car, or get a new credit card your credit score is checked and the crediting agencies lower your score if you have had two or three credit checks withing a few months of each other.

5.) Lastly, open a savings account and budget your money accordingly that you will always have extra cash to help in times of need.

Protect your credit score because it can mean everything when buying a home or trying to get some capital for whatever purpose you need it for. It is not hard to raise your credit score, it is hard to maintain it. If you can purchase a credit score monitoring service, it will protect you from fraud and help inform you of ways to increase your credit score when needed. Having a good night sleep is essential and helps you feel rested, energized and prepared. For more memory foam mattress buying guides, please visit http://www.credit-repair-advices.com/ ]]> http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval#comments Sun, 09 Sep 2007 15:15:05 +0000 fico credit scorefico scoresub prime mortgageprime interest ratehome mortgage loannew mortgagehome loan financing http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval FICO credit score, that will give you a good idea. Here is a general idea of the FICO score breakdown:

500 =96 580 - Poor Credit - You should be able to get a home mortgage loan if you are willing to make a down payment, probably somewhere between 5-20%. You will probably need a sub-prime mortgage loan with a slightly higher interest rate.

580 - 620 - Fair Credit - You're right on the edge. You may be able to get 100% financing or you may need a small down payment to make the loan work. Depending on how much money you put down, you may be able to get prime interest rate.

620 - 640 Average Credit -You should get a 100% home loan financing. You should not need to have a down payment. You should be able to get a low interest rate.

640 - 700 Good Credit - You should be able to be approved for a 100 - 125% home mortgage loan. You should be able to get a great interest rate.

700+ Excellent Credit - You're in the drivers seat! You should be able to get an excellent rate with excellent terms. Of course, all of these factors vary with each borrower depending on the size of loan you want and on your income and other factors.

What is the FICO Score Based On? Most of the FICO score is dependent on amounts owed and payment history. So, the fastest and best way to increase your credit score will be to make payments on time and keep old accounts open.

What Should I Avoid To Keep My Score High? If you are in the process of getting a new mortgage loan, avoid applying for or opening any new credit accounts. This can drop your credit score very quickly and make it that much harder to get approved. http://mortgagesanity.com/2007/02/08/bad-credit-mortgage-companies/ ]]> http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval#comments Wed, 07 Mar 2007 22:27:07 +0000 fico credit scorefico scoreprime interest ratehome mortgage loanprime mortgagenew mortgagehome loan financing http://www.artwoo.com/article/bad-credit-mortgage-loans-how-does-your-fico-credit-score-affect-your-loan-approval FICO credit score, that will give you a good idea. Here is a general idea of the FICO score breakdown:

500 -- 580 - Poor Credit - You should be able to get a home mortgage loan if you are willing to make a down payment, probably somewhere between 5-20%. You will probably need a sub-prime mortgage loan with a slightly higher interest rate.

580 - 620 - Fair Credit - You're right on the edge. You may be able to get 100% financing or you may need a small down payment to make the loan work. Depending on how much money you put down, you may be able to get prime interest rate.

620 - 640 Average Credit -You should get a 100% home loan financing. You should not need to have a down payment. You should be able to get a low interest rate.

640 - 700 Good Credit - You should be able to be approved for a 100 - 125% home mortgage loan. You should be able to get a great interest rate.

700+ Excellent Credit - You're in the drivers seat! You should be able to get an excellent rate with excellent terms. Of course, all of these factors vary with each borrower depending on the size of loan you want and on your income and other factors.

What is the FICO Score Based On? Most of the FICO score is dependent on amounts owed and payment history. So, the fastest and best way to increase your credit score will be to make payments on time and keep old accounts open.

What Should I Avoid To Keep My Score High? If you are in the process of getting a new mortgage loan, avoid applying for or opening any new credit accounts. This can drop your credit score very quickly and make it that much harder to get approved. http://mortgagesanity.com/2007/02/08/bad-credit-mortgage-companies/ ]]> http://www.artwoo.com/article/credit-score-essentials http://www.artwoo.com/article/credit-score-essentials#comments Thu, 17 Aug 2006 22:27:11 +0000 credit scoreinstallment loanshttpcredit cardsaccion usacredit reportmoney http://www.artwoo.com/article/credit-score-essentials money to people unless there's proof that they'll repay the loan. Lenders look for that proof in your credit score, the "batting average" of your overall credit history.

What's in your credit score? It's much more than a number attached to your credit report. It's an important piece of financial information that lenders look at when deciding whether or not you are a worthy investment. You need to build the highest credit score possible to prove to banks and credit card companies that you'll repay the money they lend you well. Credit reports are scored on a scale between 350 and 850, and the closer your score is to a perfect 850, the higher likeliness your loan or credit request has of being approved!

Most credit scoring systems are calculated from all the different credit data in your credit report. This data is grouped into five categories:

Payment history. How well do you pay your bills on time? Amount of debt. Do you owe lots of money on many accounts? Length of credit history. How long have you had credit?

Types of credit. Do you have a healthy mix of credit (credit cards, installment loans, mortgage loans, etc)?

New credit. Are you taking on too much debt?

A credit score takes all these categories into consideration. No one piece of information or factor alone will determine your score, just as one hit alone doesn't determine a player's batting average. Remember that your credit score will change with credit report changes-- if you stop paying a loan, your credit score will go down. Similarly, if you begin paying all of your bills on time, your score will increase, and you'll qualify for a loan that's the equivalent of a home run! This article was written by Josh at ACCION USA (http://www.accionusa.org). ACCION USA provides business loans up to $25,000 to small business owners who need financing to expand their businesses. ]]> http://www.artwoo.com/article/easy-steps-to-maintain-a-good-credit-score http://www.artwoo.com/article/easy-steps-to-maintain-a-good-credit-score#comments Sun, 16 Jul 2006 16:27:07 +0000 free credit reportannual credit reportfico scoreexperiancredit reporting agenciestransunionequifax http://www.artwoo.com/article/easy-steps-to-maintain-a-good-credit-score
By law you are able to obtain a copy of your credit report free every 12 months from each of the three nationwide credit reporting agencies, Equifax, Experian, and TransUnion. The three companies have formed a central agency so that you can request a copy from all of them at once. It's called Annual Credit Report and can be accessed online.

This free credit report can be a valuable tool in maintaining your lifestyle and can save you money. By monitoring your credit report on a regular basis, you can catch any errors that may have been recorded and see that they are corrected immediately. Also with the increased crime of identity theft, with a vigilant eye on your credit reports, you can catch any funny business early.

There are just a few things you need to do to maintain a good credit score.

-First and foremost, make your payments on time.

-Stick within your budget and manage your debt.

-Do just what you're doing and monitor your credit report regularly to correct any possible errors.

-Try to avoid any unnecessary inquiries of your credit report, as each request can be marked against your good credit score.

-Reduce your credit card balances if they're limited out.

-If you don't have enough credit history, you may consider applying for new credit.

By carefully reviewing your credit report on a regular basis, you can be sure that you maintain a good FICO score. "What is a FICO score?" you say.

The FICO score is the 'grade' with which financial institutions use to judge the risk they take when extending you credit. The higher the FICO score, the better. The scores generally range from 499 - 800 plus.

By keeping a close watch on your credit reports, you can help to protect your good credit. Whether it's a car loan, credit card, or mortgage, your credit score can dictate the interest rate of your new loan. A good credit score can save you money. Bradley Carson is the webmaster and editor of Apply Online For A Credit Card at http://www.cards-king.com A website established to provide concise information about credit cards and credit card offers from premier financial institutions. ]]> http://www.artwoo.com/article/top-tips-to-improve-your-credit-score http://www.artwoo.com/article/top-tips-to-improve-your-credit-score#comments Mon, 01 May 2006 01:50:07 +0000 improving your credit scoreaverage credit scoreimprove your credit scorecredit cardssave moneyopen credit accountsinterest rates http://www.artwoo.com/article/top-tips-to-improve-your-credit-score Improving your credit score is very important and it can help you save money. Your credit must be in good standing so that you can open credit accounts when you need them. Good credit will help you get the best interest rates too.

Your credit score will be based in how well you can pay your bills and loans on time. You must keep your credit healthy and pay promptly. If you have a high score, lenders see you as a better risk, and are willing to give you more credit at better rates.

For your credit score to be good, your goal is to reach above 620 which is considered the line for creditors. If your credit score is below 600, banks have trouble lending you any money. Even your mom or a friend would have a hard time lending to you if they found out your score was too low. Work to keep your credit score up at 620 or higher.

If you are over 700, you still get low rates, though you could do better if your score was higher. Try to get above 760 and you will get the lowest rates and offerings. If you can make it above 850, this is ideal and you'd be offered the best interest rates and payment terms. The average credit score is 723.

To improve your credit score, always pay on time or before the deadline. If you are always late, chances of getting a good score are slim. The idea that "better late than never" is not applicable to this situation. All your late statements are noted, making it almost impossible to escape bad credit.

Keeping your credit balances low is also very helpful. This will lessen the burden of bills you need to pay each month. Lenders believe that if your credit is kept in balance, you will be able to attend to your payments more readily and regularly. A balanced credit line is also an advantage because you are still capable of opening credit cards. If your income is increased and improved, the more chance you have of upping your credit line even more.

Also, don't open any credit cards that you don't need. Sometimes credit card offers are very inviting and enticing especially for those who love shopping sprees. If you have a lot of credit cards, you'll have a hard time paying for each of them. This will lower your credit score an average of 10 points, and most definitely affect your credit lines.

Keep in mind that closed accounts in your credit report don't just go away. You might think that your accounts from long ago are no longer included in your credit report but you are mistaken. Every single detail and record is clearly stated. Even the oldest things are going to stick with you forever. Stu Pearson has an interest in Business and Finance related topics. To access more information on http://www.infactual.com/category/business/ or on http://www.infactual.com/2006/04/21/credit-line2/, please click on the links. ]]> http://www.artwoo.com/article/what-you-can-do-to-improve-your-credit-score http://www.artwoo.com/article/what-you-can-do-to-improve-your-credit-score#comments Sun, 23 Apr 2006 00:50:02 +0000 credit scorescore servicesapplying for a credit cardcar loanscredit scorescredit cardscredit history http://www.artwoo.com/article/what-you-can-do-to-improve-your-credit-score credit scores. If you are not looking to get a loan or credit card, you may be wandering whether or not they are important. Your credit score is important, regardless of whether or not you plan on applying for a credit card or loan. In this article I will explain what a credit score is and why it is important.

What Is A Credit Score?

Your credit score will determine whether or not you'll be approved for a mortgage loan, and how high your interest rate will be. Your credit score will also determine the cost of your car insurance. Even certain jobs, which you apply for, will require you to have good credit. Having a low score will make things much more expensive, and you may find that some companies won't hire you. The easiest way to get a good score is to make sure you're responsible with making your payments on time. It is also important to understand what is used to calculate the score.

Calculating Your Total

The type of different loans you have makes up about 10% of the score. If you don't have an established credit history, the number of different accounts you have will be considered. Your payment history makes up 35% of your credit score. The number of different accounts you make payments on is considered, as well as number of late or missed payments you have. Any liens, bankruptcies, or judgments will be reviewed, and this information will be used to factor in your score. Services such as furniture rentals and car loans are included as well as credit cards.

The total amount owed makes up about 30% of your credit score. The number of accounts you have and the amounts you owe on all of them are reviewed. The closer you are to maximizing out your loans, the more likely it is that your credit score will be lower. How much you have paid back on your loans is also taken into consideration. The age of your credit history makes up about 15% of your credit score. If you have a long credit history your score will be higher if you don't have any negative marks in the past. The last factor that makes up your credit score is called new credit.

New Agreements

New credit refers to the number of new loans you have opened recently, and makes up about 10% of your credit score. The number of request you've made for credit cards or loans is also computed. Now that you know all of the things that are used to calculate your score, what can you do to improve it?

What You Can Do To Improve

One of the things you can do is make sure all of your bills are paid on time. If you are too busy to make sure your bills are paid on time, set up automatic payments so that the money is debited from your account on the day it is due. You also want to make sure you don't open too many accounts within a short period of time. It is also important to keep your balance low in proportion to the total amount of credit available on the loan. You should owe 25% less than the total available credit on your loan or credit card.

It is also better to pay off your credit card instead of moving over the balance to a card that has a lower interest rate. Constantly moving around your balances can cause your score to become lower, because the total amount you owe could fluctuate if you close certain accounts. Joe Kenny writes for the credit card comparison sites http://www.creditcards121.coma and also http://www.cardguide.co.uk ]]> http://www.artwoo.com/article/your-credit-score-your-car-insurance-costs http://www.artwoo.com/article/your-credit-score-your-car-insurance-costs#comments Wed, 01 Nov 2006 08:27:07 +0000 credit scoremailfair isaacscredit reporting companiesinsurance companiesmediocreisaacs co http://www.artwoo.com/article/your-credit-score-your-car-insurance-costs credit score goes with you just about everywhere when it comes to purchasing something on time. However, if you think your credit score only comes into play when you are applying for a loan you need to re-think that.

When it comes to car insurance, many insurance companies will also take your credit score into consideration when it comes to determining the cost of your coverage or even coverage at all if you are applying for insurance.

Even with a spotless driving record, this can be the case.

You see, for insurance companies, it's all about statistics and risk factors. Many insurance companies believe that mediocre to poor credit ratings equate to higher insurance risks.

So, if you're not the best at getting your credit card payments in the mail on time you may want to stop and think about changing your payment habits and make more of an effort to improve your payment track record. Whether this is true at all or not, almost all auto insurers use your credit score in the mix to some degree when determining your premium.

Knowing this, makes it even more important for you to know exactly what your credit score is and why it is what it is. In other words, even if you believe you've never been late on any payment, credit reporting companies are far from flawless. There could be mistakes or even misrepresentations on your report that could cause to have your insurance rated (higher bracket) or even denied.

So, take a few minutes (and you can do very easily online) and get your credit report. Or check out your FICO (Fair, Isaacs and Co) score; which is what insurance companies use to factor your credit rating into the cost.

A driver with bad credit is going to pay more for their insurance than those with good credit.

If you do have bullet proof credit, this is all the more reason for you to shop your insurance around. You may find an insurance company that offers bigger discounts for A+ credit ratings. Jeff Neilan's car dealer experience offers insightful car buying tips that save you time and money. Be sure to visit http://www.acarbuyersguide.com for car insurance tips, financing costs, and more. ]]> http://www.artwoo.com/article/what-credit-inquiries-do-to-your-credit-score http://www.artwoo.com/article/what-credit-inquiries-do-to-your-credit-score#comments Mon, 21 Aug 2006 06:27:08 +0000 credit scorecredit bureauscredit inquiriescredit reportshoppingnew carspan http://www.artwoo.com/article/what-credit-inquiries-do-to-your-credit-score credit inquiries, some can take points off your credit score with each inquiry, while others have no effect at all. Too many of the bad inquiries and your credit can be destroyed, taking with it your chances for receiving a home, mortgage or personal loan.

Think back to all of the times you went out shopping for items like a new car, cell phone, home, apartment or insurance company. Each of these companies probably pulled your credit report and took a few points off of your credit score at the same time.

Although most credit inquiries take less than five points each time, this can still add up- especially if you have more than a few inquiries. Losing points on your credit score can cost you a lot of money over the years because you'll end up paying higher interest rates and annual fees.

If you're out shopping for cars and have applied at a few different dealerships in a two-week span, you don't have to worry about your credit score dropping each time. You should only get up to a five point deduction because credit bureaus will count all inquiries in this time frame as one. But if you're out shopping in a two week span for unrelated items- say a new car and an apartment- credit scoring will be affected with each inquiry.

Credit scoring is not affected at all if you are making inquiry as to where you stand. Whenever you order reports or request your one free copy per year, no points are taken off your credit score. You are not penalized for wanting to know what your credit history looks like, so take advantage of this. You should always know what your credit score is because it will give you a better idea of your chances for credit and loan approval. It will also alert you to fraud or any potential mistakes listed on your credit report if you experience a sudden point drop for reasons unknown to you.

Credit inquiries will remain on your credit report for up to two years. After this time period has passed, you can request they be removed. You can contact each of the three major credit bureaus- Equifax, Experian and TransUnion- to have this done.

To keep your credit in good standing, pay your bills religiously each month, keep your balances down and keep your credit inquiries to a minimum. Doing so will ensure lenders view you as someone they would be glad to do business with, rather than a huge credit risk. Visit http://www.creditandyou.com now to find out more about credit scoring, and what you can do starting right now to raise your credit score. ]]> http://www.artwoo.com/article/just-how-important-is-your-credit-score http://www.artwoo.com/article/just-how-important-is-your-credit-score#comments Tue, 13 Feb 2007 16:27:06 +0000 credit scoretransunion creditexperianequifaxamount of moneyreal estate linksmoney time http://www.artwoo.com/article/just-how-important-is-your-credit-score credit score is important. This plays a large part in helping you to qualify for the amount of money that you want and need.



By keeping up with your credit score, and understanding how it will tie into your investment, you can be sure to benefit from the points that you have.



Before you get involved in a loan, you will want to check your credit score in order to make sure that you will have the ability to get the loan you want.



There are three major companies that rate your credit score, giving you points for good credit and how your history has related to the credit that you have. The companies that you can get your credit score from are Equifax, Experian, and Transunion.



Credit scores will affect the loan you get because it helps you to be pre-approved for a loan.

Lender companies will be more willing to work with you if you have a higher score. They will also have the ability to give you a higher amount of money.

This usually means that you are responsible with keeping up with your payments, have a good history, and how you have handled things such as overdue payments. For some, this is the only way that loans will be approved.

For others, other factors will be considered, such as financial stability, your income and job status. Before even beginning the process of finding real estate, you should make sure that these are in the right place.



By adding up the points you can also add up the abilities that will take place with your loan.



Understanding the various elements of your credit score can help you to save money, time and to get approved for the loan that you want. Simply adding it all together will be the place that you want to start in order to build your credibility. David Peters is a writer for http://www.akrealestates.com which is an excellent place to real estate links, For more information go to:www.akrealestates.com ]]>