Improving Your Credit Score

Even if it is just a few days late, just one overdue payment-whether it’s for your mortgage, a utility bill, an auto loan, a Visa account, or any of a hundred other credit obligations-could seriously damage your FICO score. FICO pays a lot of attention to whether you start a pattern of missing due dates, so a series of late payments can really hurt your score.

It’s not too late to straighten up your act. Get yourself current as quickly as you can and then remain current. Your score will begin to increase within six months- and the longer you keep it up, the more noticeable the increase will be. The negative weight FICO gives to bad behavior like delinquencies lessens over time, so as long as you stay on the right path, those black marks will eventually disappear from your record for good.

Of all the factors you are able to control-and improve quickly-the amount you owe is probably the most powerful. Say you’ve got a $1,000 balance on card with a $2,000 credit limit-and then the card company slashes your limit to $1,000. Suddenly, you’ve gone from 50% credit utilization to being maxed out, and being maxed out might cost you as much as 100 points.

Closing old accounts shortens your credit history and reduces your total credit-neither of which is good for your FICO score. If you have to close an account, close a relatively new one and keep the older ones open. Also, closing an account will not remove a bad payment record from your report. Accounts that are closed are listed with active ones.

The best way to increase your score is to show that you are able to handle credit responsibly-which means not taking too much and paying back what you do borrow on time. Do not open new accounts just to raise your available credit or create a better variety of credit. This is especially true if you’re just beginning to establish a credit history.

When you apply for a loan, the lender will “run your credit”-that is, send an inquiry to a credit rating agencies to figure out if you are credit worthy. Too many such inquiries might hurt your FICO score, since that can indicate you are trying to borrow money from many different sources.

The FICO scoring system is designed to allow for this by considering the length of time over which a series of inquiries are made. Try to do all your loan shopping within 30 days, so the inquiries get tied together and it is obvious to FICO that you are loan shopping.

I need to find I am trying to locate a debt agency.. This article, Improving Your Credit Score is available for free reprint.

Benefits Of Lower Interest Rates

In the United States along with the rest of the world, everybody is having hard times. For a person that is looking to build or to buy a new home there is an advantage that can be taken. Building supply costs are now remaining steady, there are great deals on land, and there are excellent interest rates. Make sure that you are not wasting any of your time by waiting for the interest rates to go lower then they are, this is because the federal government may not be looking to reduce the rates soon, and the next change could be the interest rates going up.

As for the past five years home building had been an expense that was high, this had been because the lumber prices had been up. This increase now seems to be now over and the price of lumber is now beginning to drop. So any family that is seeking to build a new fancier home can now afford to do so and it will be cheaper then in previous years.

All over the United States land is now becoming more affordable. Real estate agents are looking to make money and to do this they need to make the land move, not sit for months on end at a higher price. Buyers need to take a full advantage of this economic hard time and buy the piece of land that they want to build their dream home on.

The lower interest rates are the main thing that a home builder or a home buyer should be looking at right now. Any person that wants to build a new home from any plan needs to be quick moving to secure the interest rates getting lower. Many banks are now offering interest rates that are getting lower this makes the home builder or the buyers dreams come true.

Lower interest rates are essential. So, you shouldn’t let go of any opportunity when they are really low.

Useful Tidbit: To help you acquire some terrific bargains, visit and discover information and facts on (a) cash register toys.