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Category: credit report

Long Loan Shopping Could Hurt Your Credit Score
- - Lavonna C. Speck

It’s a good idea to shop around for a loan to make sure you get the best terms and even better the lowest interest rate. But, loan shopping could hurt your credit score.

An inquiry is placed on your credit report each time a lender checks your credit history to qualify you for a loan. Your credit report is a compilation of most of your credit and loan accounts and is the key factor used to determine your credit score. Credit inquiries count for 10% of your overall credit score. Each additional inquiry can knock your credit score down a few points, affecting your ability to qualify for another loan.

The model for the FICO score – the most well-known and widely-used credit score – helps protect you from the impact of rate shopping for mortgage and auto loans. The scoring model essentially ignores inquiries made within a 30-day window while you’re rate shopping. So, if you find a loan during that time, your lenders never know you’ve been putting in loan applications all over town. Even after the 30-day “grace period” is up, all the inquiries you’ve made are treated as just one inquiry when your credit score is updated.

The FICO score calculation has been updated a few times over the years, so the length of the grace period depends which credit score calculator your lender’s using. One model has a 14-day grace period, another uses 30-days, and the newest model uses a 45-day time span.

It’s important to note that the loan-shopping grace period for credit report inquiries only applies to mortgage and auto loans. If you’re shopping for another kind of loan, you don’t get the convenience of hidden inquiries. When you’re on the market for a personal or student loan, your best bet is to find a loan within a few days before the credit report inquiry makes it to your credit report. Otherwise, your credit score will feel the full brunt of your rate shopping. Then again, inquiries only count for 10% of your overall score, so they couldn’t hurt that much, could they?…

Remove and keep inaccurate items out of your credit report
- - Lavonna C. Speck

You must remove old or inaccurate items from your credit report and keep monitoring your credit report to keep it clean.

For a Powerful One-Time Upgrade of Your Credit Report

Did you know that 4 out of 5 people have at least one inaccurate item on their credit report? You need help to eliminate any inaccurate items on your credit report.

Errors on your credit report can have a significant and troubling impact on your life. Among other things, you may be denied a mortgage, car loan, credit card or even employment because of these errors. But you do have rights to get your credit report cleaned up.

Monitor Your Credit Report to Keep it Clean

After you get your credit score under control, you’ll want to monitor your credit report for any changes that could affect your credit score.

– Receive weekly email alerts to changes in your report
– Immediately find out about credit report changes including fraudulent activity, new inquiries, new accounts, late payments, and more
– Receive a brand new credit report four times per year
– Receive updated credit scores four times per year that includes personalized analysis with tips for improving your score
– Graphical trending helps you manage your progress

Try the 30-day trial credit monitoring. It can help you keep your credit report clean.…

Clean up your credit report
- - Lavonna C. Speck

But, there are steps you can take to clean up your credit report, and then keep it clean.

Become a Good Credit Risk
To clean up your credit report you must begin to pay your bills on time. Don’t use charge cards unless you can always make the required payments on time.

If you have a credit card debt problem there are some steps you can take to get your finances back in balance:

– Pay down debt on credit cards you’ve maxed out in order to reduce your ratio of debt to borrowing power.

– Reduce your overall debt–especially high interest credit cards.

– If your home has more value than your current debt load think seriously about transferring high interest debt to a lower interest consolidation loan

– Make your rent or mortgage payments on time

– Think differently while shopping using these tips for spending money wisely

– Establish a personal budget

– Obtain guaranteed Master card to establish good track record…

Why do you say “Clean up my credit report”?
- - Lavonna C. Speck

Millions of people need to clean up their credit report to improve their credit score.

Easy Credit Our commercial filled, easy credit society has encouraged too many people to spend beyond their means to pay for their purchases. Many people do not even think about the price of an item; they only wonder if they can make the payments.

After too many credit card purchases, their minimum payment requirements exceed their ability to pay.

When your bills are not paid on time notations are made in your credit report and your credit score suffers.
Identity Theft Because dishonest people want things they cannot afford, they steal identities of innocent victims. These criminals then use the good credit ratings of others and go on a spending spree.

Their philosophy is, “Buy Now, Pay Never!”

The result is that innocent people spend months or years trying to redeem their good names, not to mention correcting their credit reports and improving their credit scores.

If you are a victim you can see how you can help prevent future identity theft and help free yourself from unauthorized charges made to your credit cards at Identity Theft Help and Prevention.…

An instant loan in 10 minutes via the Internet is a quick credit that is appreciated by all
- - Lavonna C. Speck

The popularity of fast instant loans, including online, has grown significantly over the past three years. If the poles have to take the amount in the range of 1-4 thousand rubles, then in 70% of cases they will turn to the loan company, not to the Bank.

Straight path

What makes us borrow from these non-Bank organizations? First of all, a simplified way to attract additional funds. Credit card companies seek to limit the formalities involved. The tools that bring are intuitive to use. All of them are available online. This is a really big time and energy resource savings, which for many people is of great importance.

Fast verification process

Otherwise, than in banks, credit companies do not require certificates of income. Nor will they check our creditworthiness. In most cases, it is sufficient to confirm the identity of the borrower. If we use financial products offered through the Internet, such verification is carried out in two stages. First, we need passports. Secondly, access to Internet banking to make a transfer, verification.

Any goal, minimum costs

The second undoubted advantage of online moments is that we can allocate them for any purpose. The credit company will not ask about the fate of the funds, as is often the case with Bank loans. In addition, if we are clients of a particular entity, we can expect a loan for which the RRSO value is 0%.

Dynamic market development

The non-Bank loans market is a very dynamic sector. Its importance is growing from year to year. Only in 2018, the amount of loans amounted to 5.2 billion rubles. In addition, it should be noted that, since 2017, operators working in this industry are obliged to submit their activities to the register, which is maintained by the Financial Supervision Commission. What does this mean for the consumer?

A lot of bids

This situation in the market forces non-Bank companies to constantly develop the products offered and clings very much to the quality of the services it provides. This allows the consumer to choose from a variety of competitive offers-to take money on the most favorable terms. Another, important thing is the high standards of customer service that serious organizations just have to care about. It is also connected with the introduction of ethical standards and business. Trust is often the largest capital held by non-Bank loan market leaders.…