Quickly Raise Christian Credit Score
When a person wants to quickly raise Christian credit score numbers, there are a number of things he can do to make that happen. But before mentioning a number of them, remember that these are only temporary ways of getting up a score and not new ways of spending money. Using these ideas will need the virtues and wisdom and restraint to make a difference and they must be employed with the sole purpose of getting up the score only temporarily in order to apply for, let's say, a mortgage loan. In order to quickly raise credit score numbers, a person must think outside the box to outwit the credit bureaus' software and computers. All of these techniques are legal.
The first way to quickly raise credit score numbers is to order reports from all three of the major credit bureaus in the United States. Experian, Equifax and Trans Union must, by law, provide every consumer with one free borrowing report each year. Upon receiving these reports, a consumer needs to study them carefully, looking for accounts that are troublesome to the borrowing history score. Re-open closed plastic cards that are reporting bad borrowing practices and repay for a couple of years in perfect manner. Ask the creditor to only report those 24 months of activity. Another way to quickly raise credit score numbers is to close a number of small retail finance company cards like department stores, home improvement stores, tire stores, music stores and others of similar ilk. Having many open accounts from these sources can quickly drive down borrowing scores.
Knowing how plastic card companies work is key to quickly raise credit score numbers. For example, even a one day late payment can affect a person's borrowing history numbers. Payments must come in before due dates, even if the due dates are on a holiday or Sundays. Plastic card companies have be known to switch due dates often to try and accrue more interest from its customer. Watching due dates on every bill can help maintain good borrowing history numbers. Those with bad credit are often given cards that can change interest at any time and that means watching and seeing that minimum payments can change each month even without any purchases
The third way to quickly raise credit score numbers is to pay down any plastic cards or borrowing lines to at least seventy percent under the total allowable limit. For example, if a person has eight thousand dollars on a plastic card and the limit is ten thousand, putting five hundred on that account can help raise the numbers somewhat. When a person buys a car and finances the entire amount, the borrowing score will dip because the buyer owes the entire amount that was borrowed. Getting any account under seventy percent of the allowable ceiling limit will help. But there are other ways to also get that score up.
A great way to quickly raise credit score numbers is to eliminate all local finance company loans. These accounts look bad on a borrowing hisotry report. Sometime they can show up as duplicates for refinancing agreements. A person can also call plastic card companies and ask to raise the limits on the cards that they have issued to the cardholder. This automatically shows up at the credit bureau as the customer having less debt compared to allowable limit of debt. A person can also obtain a number of plastic cards within a few days of each other and it only counts as one inquiry against them, and this is a good thing since each inquiry can take ten points off a borrowing history score. So if a person applies and gets five more cards each with a ceiling of two thousand dollars, the consumer has just upped one's available borrowing power by ten thousand dollars make the borrowing history score rise.
If a person is willing to pay the money, a company that specializes in removing negative remarks on borrowing history reports can help to quickly raise credit score numbers. These companies can go in and negotiate with reporting bureaus to have bad comments and remarks removed from all borrowing history scores. These companies can be found on the Internet and are priced reasonably, especially compared to having remaining low borrowing history scores that can hurt one's chance for a mortgage, etc. But be careful and check the reputation of such companies. The Better Business Bureau can be a good place to start to check on reputations and other issues. Making a bad situation right might seem like an impossible mountain to climb, but for the Christian we are promised that nothing is impossible for God. "For with God nothing shall be impossible." (Luke 1:37)
Being turned down for a loan because of low borrowing history scores can not only be discouraging but it can also be embarrassing or humiliating. A person can feel like a leper or a member of the lowest caste when one hears over the phone or in person that a decline has been the decision. The reality is that we all have to live with bad decisions we have made over the years and often even the tricks and gimmicks aren't enough to over ride our lack of wisdom and discipline. Any person with a lot of foresight should begin while still young to build strong financial decision making into his life, including the wise use of credit. That can begin by accepting the fact that everything that one's parents have worked so long to have cannot be ours at age twenty five.
Rebuild A Christian Credit ScoreMany people find the need to rebuild a credit score after bankruptcy, a history of late payments, foreclosures, and years of outstanding debt or liens. People should check their score on a regular basis. By law, once a year, a person can receive a free check. The individual checking their history should know how to view the report and know what is fact or potential erroneous information. Knowing the basics can help a person determine if they need to rebuild a credit score or if the report is fine. The cliche, "it's better to be safe than sorry," applies to knowing what one's past can potentially say about one's future. An individual looking to get a loan for a dream house, new family car, or kid's graduation present should not be surprised by what a check shows. Being aware and on top of the financial issues will keep a sound check on how much a person is worth and able to spend in the future. A person must take action to protect his or her future.
A credit report is different from a credit score. The report lists credit cards, loans, liens, and other financial documents. The score is a rating based on what is known about an individual's report. If loans, store or other account cards, and such reflect payment on time and no outstanding marks are apparent on the account, a person's tally is reflective of such good ratings. A score reflects negative marks such as late payments, outstanding liens and debs, and the involvement of collection agencies. When negative marks are apparent, a person needs to work to rebuild a credit score. The difficulty in reports rests in the fact that credit scores change on a daily basis and do not always reflect accurate information. If someone seeks a loan, the individual should ask the loan officer for a rapid rescore, which will provide the most accurate information at the time of the loan officers search. Good marks will help obtain a quicker loan at a smaller interest rate, saving the customer money in the end. Good marks also enable a customer to make a smaller down payment on a dream home, new vehicle, boat, or other large item.
Just because marks are high will not mean a person cannot get a loan, although the potential for rejection on a loan is greater. Bad marks will mean higher interest rates and require a larger down payment. So, how can a person rebuild a credit score? Several methods to rebuild a credit score involve professional methods, whether it means professional self-help software or hiring a professional. Most people would suggest hiring a professional like a lawyer who specializes in credit laws and repair. Before hiring professional help, an individual should know that there are frauds at every turn, be skeptical of advice, be proactive in personal affairs, and do not pay for service offering to rebuild credit. Many websites offer free scores or the opportunity to rebuild a credit score. In most cases, the website requires a purchase of a product and most are not reputable companies. "For among my people are found wicked men: they lay wait, as he that setteth snares; they set a trap, they catch men" (Jeremiah 5:26).
A few ways to rebuild a credit score on a person's own involves a few simple procedures. The following list exemplifies some popular methods for self-help: know what companies report, decrease card balances by 30% of an available balance, send letters to ask for leniency, dispute and clear older claims on account, and work on paying bills on time. An individual should not play credit card "lottery" when paying bills and likewise should not just transfer card balances back and forth between cards. Opening up new accounts creates a negative impact as well. If a person does not have any cards, a good way to help create positive marks though is to open a new account, use the one card, and keep payments caught up.
In seeking to rebuild a Christian credit score, most people should seek professional help. The rebuilding process creates stress. People need to remember that the professional is there to help and should be treated with respect. An individual should know his or her rights, act professionally, not threaten the professional, ask about all the required fees first, and make sure the company is bonded and reputable. During the transition time and time of restoration, the facts and various potential positive and negative aspects relating to a person's case will burden the person receiving help. Recording communication, the various aspects and different transactions, as well as knowing the name of the individual helping, the day and time of help will ensure the facts remain clear. Professional companies, whose involvement in the repair business spans many years, can help remove negative aspects and create positive marks on a person's history. Most people try to work on their own to fix past mistakes and end up creating a worse situation. People who close accounts to fast to help "clear" their history are harming the marks as much as a person who is always deliquent in payments. Professionals work on a daily basis reducing negative history. Negative marks can remain on a person's history for a number of years. For example, delinquencies remain about 10 years on an account; bankruptcies can last for up to 10 years; and numerous inquiries can last up to 2 years on an account. People need to be aware that their lack of movement or negative movement creates havoc just as much as seeking to correct matters. Thus, seeking profession help is usually the wisest move to make.