The catch-22 about bad credit is that making it better requires loyal payments towards loans and credit that are almost impossible to get when your credit is poor. You might be well on your way to better financial days and have learned from your borrowing mistakes, but putting those lessons to practice is difficult when nobody wants to lend to you. You’re options are very limited. In worse situations, this could be alarming. You could be bobbing bait for loan sharks and predatory credit card companies. But if you’re financially secure and have become a responsible borrower, then consider these things to be a frigate of protection on the high seas of high interest loans and credit that can help you re-establish a strong financial record. […]
In today’s post-recession world, banks have tightened lending standards considerably in order to reduce their exposure to risky bets, and now more than ever it is imperative to build a strong credit history in order to secure bank financing when purchasing a new home, car, or other big ticket purchase.
A strong credit score can help save you thousands of dollars over the life of a loan due to more favorable interest rates and lending agreements. If you are one of the millions of Americans that have lost a job or faced a reduction in pay or working hours, and if this has caused damage to your credit score because of late or missed payments, there is good news. With dedication and effort you can work to rebuild your credit score. One of the best ways to rebuild your credit is to begin using Credit Karma. […]
I advocate monitoring your credit report and credit score on a regular basis to track your score and check for errors. You can pay for this service from any number of providers, but I like to use CreditKarma.com. They give a pretty decent approximation of your credit score and the best part is that it’s[…]