10 Ways to
Raise your Credit Score
1. Check your
credit report regularly! (we recomment you to
check your credit report annually)
2. Make all of
your payments on time. If you are forced to miss
a payment, pay it off in the flowing month.
Accounts more than 60 days past due will be
indicated on your credit report.
3. Don’t apply
for multiple credit cards over a short period of
time or your cards that you are not likely to
get.
4. If you need
help, contact a reliable nonprofit agency such
as the ISU Financial Counseling Clinic or
Consumer Credit Counseling Services.
5. If you fall
behind on payments because of illness,
unemployment of family issues, you can write a
short explanation to the credit reporting
agencies. You should also call your creditor and
work out a payment schedule that you can meet.
6. If your
credit is severely damaged or you have a short
credit history, consider opening new accounts
with lower credit limits and paying them off on
time.
7. Correct any errors that might appear on your
report. The credit bureau who is providing your
report can show you how to do this.
8. Keep your
total account balances as low as possible.
9. Don’t open
new credit cards that you don’t need just to
increase your available credit. This could
actually lower your score.
10. Learn what
your current credit score is and what appears on
your credit report.
How Much Reward
Earnings Can I Actually Get?
Tired of
comparing credit cards and calculating the
rewards earnings according to your spending?
American Express, Citibank, Chase, Discover,
Bank of America, and other credit card companies
offer dozens of competing Visa, MasterCard, AmEx,
and Discover cards. Their reward policies for
cashback/rebate, frequent flyer airline miles,
and points are a complex mix of tiers, limits,
categories, and earning percentages.
The
Credit Card Rewards Wizard (http://tools.creditcardflyers.com)
tool makes all of that easy. Simply estimate how
much you spend each month, press Enter, and
you'll be presented with a list of recommended
rewards cards with reward earnings.
How To Get The
Best Credit Card Deal?
Nearly all of us
use credit cards on a regular basis, and many of
us could always use one more. Getting that best
credit card, however, is not something that you
just happen to come across, but you can get some
real good deals, these days. So, before you
sign-up on the next credit card application you
receive in the mail, here are a few things you
need to look for - otherwise you may not be
getting quite the deal you thought.
In order to get
that better deal on your credit card, you need
to take a couple of minutes and think about on
which of the following categories of items you
regularly spend the most money.
1. Airfare
2. Gasoline
3. Business expenses - office, travel, etc.
4. Food, medicine, and gas
5. Other travel expenses - hotel, car rental,
etc.
6. Vacations, sightseeing, etc.
7. Student
After you think
about this, and choose one the closest
categories that describes your primary use of
the credit card, then you are ready to look at
the various credit card offers, and choose your
best credit card. Here are some things to look
at in order to make the best choice.
Credit Rating
Needed
Most of the
online credit card ads will show you the level
of credit that you need in order to successfully
apply and get the card. Make sure that your own
credit rating is good before you apply for one
of the best cards. If you are applying for a
business credit card, then you may need to know
that the lowest rated user of that card could
affect the overall business rating.
Balance
Transfers
This is an
especially good feature if you have any other
credit card debt. It allows you to transfer your
existing credit card debt, for which you may be
paying high interest, and allows you to move it
to the new card and pay no interest for the
period of the introductory offer. Be sure to
read the fine print on the potential new card
because some of them will charge up to 4% of the
amount transferred. Many card companies will do
this for free - in order to get your business.
0% APR Interest
For the length
of the introductory offer, you may have 0% APR
interest on some or all of your purchases. You
will also want to look at the details on this,
too, since it may not apply to every purchase.
The time length of the introductory offer will
vary anywhere from 3 months up to 15 months.
Remember that you are trying to get the best
credit card deal, so do not settle for an offer
that is less than what your credit rating will
allow.
Later on, after
you get the card, remember that the 0% APR will
run out eventually. At that time you will either
need to make sure that your monthly balance is
paid on time, or get a new card.
Credit Card
Rewards
The last feature
you want to look at (which is usually
highlighted the most) is the rewards that any
particular card offers. If it is an airline
card, then the incentive is often a large amount
of air miles. If you are looking for an air
miles rewards credit card, then be sure to find
out not only how many free air miles they are
giving at sign-up, but also discover how many
miles are needed for your first free trip, too -
it could be a real eye opener.
Other offers are
extended to some student credit cards - they
will even give some rewards to those that have
good grades, and may be used to build up your
credit rating, too. The highest cash back
rewards on these types of cards are usually
given to purchases of gas, food, and medicines.
As you look at
the rewards, be sure that it will make a real
difference in savings for you in the areas that
you need it most. The best credit card for you
is the one that meets all these criteria, and
also allows you to have something to look
forward to each month in the way of savings or
rebates.
Credit Card
Tips:
How to Stop
Receiving Annoying "pre-approved" Credit Card
Offers?
Under the Fair
Credit Reporting Act (FCRA), the Consumer Credit
Reporting Companies are permitted to include
your name on lists used by creditors or insurers
to make firm offers of credit or insurance that
are not initiated by you (”Firm Offers”).
You have the
right to “Opt-Out”, which prevents Consumer
Credit Reporting Companies from providing your
credit file information for Firm Offers. To
“Opt-Out”, you can either visit
OptOutPrescreen.com or call
1-888-5-OPTOUT.
Credit Card
Resources:
1.
Compare Credit Cards - Select the Credit
Card Category You are Interested in...
2.
Credit Card Rewards Wizard - Discover the
Best Credit Card Reward Deals
3.
Credit Card Resources and Tools - Rewards
Wizard, Account Management, Financial Service
Directory, Credit Card Glossary and more
4.
Credit Card Education - a wide variety of
free information and advice about credit cards
and credit card related topics
5.
Credit Card Articles, Tips, and Advices -
Blog of Credit Card Flyers
6.
Apply for a Credit Card by Special
Interests, by Category, and by Bank or Issuer
7.
Credit Card Reviews and Ratings - Provide
in-depth credit card reviews, ratings and credit
card Comparison
8.
Credit Card Perks & Benefits for current
cardholders
|
