Friday, November 27, 2009


The only thought of Identity theft makes people getting goosebumps or sweat soon! Identity theft is a very serious issue as once this incidence occurs the complete social identity of the person can be erupted along with the credit status, credit scores as well as the credit report.

With the increasing usage of the internet, the online identity theft has increased to a very higher extent. Identity fraud always accompanies with working online which is done by the professional & expert hackers. These professional hackers are too skilled in hacking the names, passwords, account numbers, credit card information, social security number, etc. which are supposed to be highly confidential so as anybody who hacks these information does not take the advantage of your information & create the defaulting situation for you. This will simply end up in you being blamed to default the repayments which will destruct your credit status, report & scores as well.

It is very important to know what type of hacking for the online identity theft works when you use internet & what precautions should be taken to avoid such situations. Also, if the online identity theft takes place, how can you solve the serious issue effectively.

Reliacredit helps in protecting your credit status by preventing the online identity theft. Below are some ways in which you can prevent the identity theft disaster by rendering the service from Reliacredit:

  • Try not to reveal any of the information like the bank account number, credit card number, social security number, etc. that can be used to steal your identity while working online. Do not mention such information while chatting or mailing or on any of the website that asks you for such information. Any website or email asking for such information are always spam & so avoid even opening or replying them with any email.
  • The hackers are so professionals that even if you reply anything else with the email & not the information they have asked you, with that also they can start accessing your PC or Laptop and hack the information stored in them. This situation is very serious as they might hack any information & also might transfer the deadly viruses into your system resulting your system to crash.
  • If you start receiving any emails from the vendors or the bank saying that your bill is due for the payment, or if you get any calls or letters from the same sources saying that your bills needs to be cleared, and such transactions have not been undertaken by you, then immediate action should be taken so that the hacker or the online identity theft does not create more problem for you.
  • The bank or the financial institution whose credit you have & any information of that card has been stolen, should be immediately reported to the police & the banks as well. With this step, the first thing they will do is locking up your card so that nobody can use it & start tracing the location of the card last used.
  • Reliacredit helps you to avoid & trace the online identity theft with our security softwares. With our services, you will not just be able to avoid the identity theft, but also will be able to trace the thief soon without much delays.
  • The online identity theft protection is not very difficult with Reliacredit. The technology which we use is very much advanced such that the people always get the alerts by emails regularly, which also helps them in knowing their credit status effectively. With the regular updates, it becomes easy for the people to track all the credit activities taken place & the ones also that are fraudulent.
  • Reliacredit offers different services like the credit protection, sending credit reports, credit scores, identity theft insurance, etc. which are the most important for any person who really cares about his credit status.

All these information provided by the online identity theft protection software is very useful in tracking the identity theft successfully.

Protect your Identity with the Online Identity Theft Protection from Reliacredit Now.

Wednesday, October 7, 2009

Identity Guard CreditProtection

Identity theft is a very serious matter as far as its negative effects are concerned. Your credit status might get into very serious trouble in case your identity theft takes place. So, identity guard becomes a very important matter. There are different ways in which your identity can be stolen, like-

Your publicly available information can be hacked by the thieves to impersonate you & your family by sending infected emails that purport to come from your college or employer
These thieves can also hack your computers with the key-loggers that would infect your computer & they keep getting your personal information stored in your computer & also through emails.

There are different ways in which one can keep an eye on these issues, like keeping the track of the credit report & credit scores. The solution to this problem is CreditProtection Identity Guard. With this Identity Guard, you can always keep a track of all the credit transactions taking place which works as an identity theft guard. All the credit activities are monitored & also regular updates are given. Regular alerts are also being sent through this monitoring tool. With the help of identity guard, it becomes very quick & convenient to track your credit information & detect the fraudulent activities due to identity theft at the earliest.

This identity guard is the early warning system that helps you to monitor your credit activities regularly. In this system, whatever credit activities take place are been sent through emails to the concerned person. Any new activity, and the email is been sent. Even in case of address change or new accounts been opened, enquiries are made to confirm these activities. There is no chance that with identity theft guard, anybody can harm your credit without your information.

As soon as there are any signs of fraudulent activities, this identity guard starts working effectively & sends complete details of the credit activities. Once known, one can immediately take an action again such activity & stop it at the earliest. The biggest advantage this guard gives is the regular updates & alerts, which helps you in detecting such frauds in the initial stages itself.

Identity Guard helps you to fight against all these consequences & protects your credit, for which you have been working very hard for a long time. This identity theft protection patrols all the credit activities day & night without any failure & protects not only your credit, but also your social status.

For more info and to order your credit report with FREE credit score please visit

Wednesday, September 23, 2009

How to Enhance Your Credit Status with Reliacredit

The Credit Status is a very important task, that has to be taken care of by everybody. Bad Credit Status always leads to the downfall of the social status also. Utmost care should be taken care taking in consideration one’s Credit Status.

Reliacredit is one-end web portal which has always helped in giving the best solutions for the bad Credit status of any person. We present you some tips here for knowing one’s Credit Status & the solution to retain it incase there is a downfall:

• The first step you should be aware of is your Credit report & your Credit score. These are the very important factors that determine your credit status. Credit report gives the complete details of your Credits like when, where for what were the credits taken. Credit scores depend on the credit report, if the report is fair enough, the credit scores are always high. This also indicates that your Credit Status will always be clear & good enough.

• We have various services like Credit reports & Credit Scores & also Credit Protection. With this, you can always keep a regular detection of your Credit status.

• All the services that we provide are at very nominal charges & are very reliable as it gives all the information through the very primary sources named the Credit Bureaus- Experian, Transunion & Equifax. These are the three national bureaus that have the complete information of all the citizens regarding their credits.

We do give the complete & regular details when chosen by its customers as per their requirements. Regular updates are always sent once any person chooses any of the services from us. With this, you can always relax & you need not worry at all about any sort of Identity theft, if at all it does happen.

So, login to Reliacredit and take care of your Credit status at very nominal charges.
Protect your Credit status & Protect your future!

For more info and to order your credit report with FREE credit score please visit

Thursday, September 17, 2009


Credit is absolutely unavoidable nowadays. It is very enticing to take credit & fulfill the present necessities. But it is very complicated to manage the credits, and if not taken care of, the credit holder might be punished too by the Law. With just one error, the complete Credit Status can ruin. And so, it is very important for any person to keep monitoring his/ hers credit status at regular intervals.

There are very few reliable destinations on the internet, where the analyses & monitoring of the credit status can take place. One of such reliable & most accurate destination on internet is ReliaCredit, where the complete analysis of credit status can be done & also the identity theft can be put to an end. There are some detailed explanations that are needed to understand our the motive & functioning.

We different services like Credit Reports, Identity Theft Insurance with Identity Guard Credit Protect, Credit Score & Analyser, Credit Monitoring & alerts, Quarterly Credit Updates. These various & incomparable features of makes it very easy for any person, as it is a one point destination for everything related to credit management. Also, the cost at which these services are available is very much affordable. It also gives the Credit Basics which helps any person to understand his credit status & different ways in which he/ she can manage their credits in much more better ways. Our Services have the following features:


We have different flexible solutions for different requirements when it comes to any services. The Credit Reports refers to the legal document containing the complete status & details of any person’s credit scenario. These reports are maintained& provided by the three major Credit Bureaus named Experian, TransUnion, and Equifax, which keep the complete credit records of each and every credit transactions. These reports are very much simplified for any person to understand, and also they help you in evaluating your current credit rating, identifying Inaccurate Information & detecting the fraudulent transactions. As these reports are directly obtained from the Credit Bureaus, their relevancy is of no doubts.

These Credit Reports are also available with the Credit Scores, which give the statistics about the variables in your credit file that help to determinate your Creditworthiness. These figures are based on different elements like number of delayed payments, number of trade lines opened, etc. The higher the Credit Score, better would be the terms with the lenders. Lower the Credit Score, higher would be the risk known to the lenders, who would end up charging higher amount of interest rates.

The most common Credit Scores named FICO Scores are provided by the Fair Isaac Corporation that can range from 300 to 850. These scores are given to all the three major Credit Bureaus, who adjust these scores based on the specific information they have for you. This means that you get three different Credit Scores. The Credit Scores depend on many factors like payment history, total amount you owe, length of credit history, new credit accounts & inquiries and types of credits that are in use.


We also offer the Identity Guard service through the Identity Theft Insurance, where your credit file is checked for all the fraudulent activities that might take place. The dynamic proactively monitoring service that we have helps you in checking the fraudulent activities that might be taking place, at the earliest in the initial stages itself. There are regular updates of the credit reports that are been sent to the users of this website, due to which, you can always keep a track of your credits & that, there is no fraudulence happening to you or your identity. It also gives the basic information about the recognition of the Identity Theft, how to tackle it & whom to contact incase the identity is stolen or lost.

To save your credit reputation, it is very important to maintain & manage your credit report & credit scores, which can be helped by us through the above given strategies. We have flexibility in the services that we give, may it be even pricing! There are-
Single Credit Report available with FREE Credit Score at only $9.95 Only
• 3-in-1 Credit Report available with FREE Credit Score at only $29.85 Only
• Credit Protection available with FREE 3-IN-1 Credit Report available for 3months at only $19.95 Only…

For more details, you can log-on to and avail all our services at very nominal charges!

Wednesday, July 29, 2009

Know them- Credir Report, Credit Score and ID Theft

In order to enjoy a good credit life one needs to be aware of certain terms related to the credit world. Those who have just turned 18 and wish to avail of credit cards and start their financial life should be aware of a number of terms related to credit.

Here is a brief description of some terms that matter most in while managing your finances.

Credit report: Your credit report is the most important document of your credit life. Every financial activity is contained in your credit report. Every loan that you make and every mortgage is present in the credit report. Similarly all the purchasing and the details of paying off debts and loans is present in the credit report.

The credit report is a detailed document that is updated with every credit activity you perform. The document is present in the database of the three major credit reporting bureaus, Equifax, Transunion and Experian.

Credit Score: Depending upon the details compiled in your credit report, you are allotted a credit score. The credit score is dynamic and changes with your financial dealings. Late payments have a negative effect on your credit score and cause it to drop. In order to enjoy a good credit score, you need to make sure that you maintain a good credit score in order to enjoy benefits later in your life.

A bad credit score would hamper your financial life in a number of ways. Creditors look at your credit score before accepting your applications for loans and credits. A poor credit score would require you to pay huge interests on the loans you make. On the other hand if you have a good credit score then you would need to may the lowest possible interest rates.

There are a number of things that cause your credit score to dip. You can check out for the same and get help any time.

Identity theft: Identity theft is one of the fastest growing crimes in America. It involves stealing some one's identity and using his or her credit cards thus ruining his credit life. Many people have suffered because they have fallen victims to ID theft. Make sure that you do not provide your personal information to any body over the phone or over the net unless you are completely sure.

for further assistance visit

Steps for a good credit report

Maintaining a Healthy Status

During the moving process it’s very convenient to use credit for everything from your home loan to your furniture financing to those fluffy new towels. While you’re busy filling out application after application, inquiries are being added to your credit history! Too many inquiries can lower your credit score and prevent you from obtaining future credit at the best rates possible.

By following these three simple steps, both you and your credit report can emerge from the moving process in a healthy state:

Watch out for department store credit card offers
Department stores love to promote their store cards. Oftentimes, a discount is offered if you apply for a card at the time of purchase. Don’t forget--when you apply for their card an inquiry will be placed on your credit report. And, if you qualify for the card you will have another revolving account on your credit report. For some, another revolving account won’t hurt their credit, and might even help it. But if you have too many revolving accounts another card could negatively impact your credit standing.

Beware of "piggy-back" offers
Retail stores have been known to place “piggy-back” offers on their credit applications. These are typically an offer for another credit card, in addition to the regular store card. To tempt you to apply for the additional card the store will usually have a special promotion, such as a store gift certificate.

• A Lesson from Robert
Robert, a 25-year old software engineer, applied for an electronics department store card while he was purchasing a stereo for his new apartment. There was an offer on the application to receive a $25 store gift certificate if he also applied for a bank credit card. “All I had to do was sign another line on the form and I applied for the card and got the gift certificate,” said Robert, “but I didn’t think about what another credit card would do to my credit.” Remember that if you’re approved for both cards, two new accounts will be added to your credit report.
Take care when shopping around for mortgage rates
While it’s a good idea to shop around for the best mortgage rate you can find, keep in mind that lenders will check your credit before they can decide on your loan terms. This credit check will place an inquiry on your credit report. Many scoring models combine all mortgage lender inquiries within a 30-day period into one inquiry. So, try to limit your shopping time to 30 days.

Moving to a new home is an exciting event, and your credit plays a major role in the moving process. With a little care and preparation you can ensure that your move is a credit-healthy experience.

Monday, July 27, 2009

An error free credit report? Here’s how

Your credit report is one of the most important documents you have when it comes to obtaining the best interest rates possible. In fact, if your credit report shows too many problems with your financial history, you may actually be turned down for loans, credit cards and even insurance. Even a seemingly small error can have a major impact on your credit score and on whether or not your loan is approved. Therefore, it is important for you to check your credit report on a regular basis and to correct errors on your report as soon as possible.

Obtaining Your Credit Report

Obtaining your credit report is actually a simple process. In fact, you are entitled to receive a free credit report once per year. In order to get your free credit report, you can simply call 877-322-8228 or visit

Once you receive your credit report, be certain to check over all of the information that it contains. This includes checking to make sure all of your credit cards and loans are listed on the report and that the credit limits and the loan amounts are properly listed. In addition, make certain your payment history is correctly listed on the report and that all of the dates are correct. It is particularly important to be certain the dates your accounts were opened are accurate, as even a difference of a year or so can dramatically affect your credit rating.

Fixing the Mistakes

If you do discover mistakes on your credit report, you only need to follow a few simple steps. First, you need to write a letter to the credit reporting agency that details the errors you have found. If you have documents to support what you are claiming, you should include copies of these documents with your letter. Be certain to keep the originals in case the duplicates become lost in the mail.

When writing your letter, be sure to clearly identify the problems you have found and to explain why you are disputing the information. Then, request that the information be removed or corrected. You should send this letter via certified mail and you should request a return receipt. This way, you have a definite timeline of when you sent the letter. This is important because the credit reporting agency has 30 days to either correct the error or to notify you that the change you have requested will not be made to your report.

If the credit reporting agency determines that a change does need to be made to your credit report, that agency will also report the change to the other two credit reporting agencies. Therefore, there is no need to report the information to all three companies. If the information does not get changed, on the other hand, you have the right to provide a short statement to be included on your report. While this may not help your credit rating, it can be beneficial because it gives your potential lender more detailed information about the situation that lead to the bad mark on your report.

As a responsible consumer, it is important for you to check your credit report once per year. Not only will this help ensure its accuracy, it can potentially save you hundreds of dollars by keeping your interest rates down.

Friday, July 24, 2009

All About Identity Theft

Identity theft is one of those crimes that can substantially ruin your financial life. Identity theft is caused when some one gains access to your personal details and social security number and uses it to steal your money by using your credit details or opening a new credit in your name. According to FTC almost 10 million American citizens are victims to identity theft every year.

In most of the cases people do not realize that their credit is being used by another person until they are denied a loan from the banks on the basis of poor credit history or when collection agencies knock their doors.

However the American states consider this to be a major crime and have passed two legislative provisions to protect identity theft.

1. Security Breach Notification: If a person’s data is lost or stolen from the various organizations that collect consumer’s information, Breach Notification requires these agencies that collect consumer’s data to alert or notify them that the data is lost or stolen. Thus the accounts and statements can be closed before any harm is done or to avoid further harm to one’s credit dealings.

2. Credit Report Security Freeze: Security Freeze allows the citizens to freeze access to their credit report so that no new accounts can be opened. One can create his own password to access his credit report at the three major credit reporting agencies. This way no one can gain access to an individual’s credit reports and no new accounts can be created unless the password is provided by the concerned person.

It is not a very difficult task to spot a credit theft. If you have been receiving credit cards that you didn’t apply for and if you get calls or letters about things you didn’t buy, it is an indication of identity theft. In some cases being served court papers or arrest warrants for things you know don’t involve you is also a sign of identity theft.

If you think that you have been a victim to identity theft then you can file a complaint with the Federal Trade Commission: Consumer Response Center

Federal Trade Commission
600 Pennsylvania Ave, NW
Washington, DC 20580
Toll-free: 1.877.FTC.HELP
TDD: 202.326.2502

Hence it is of immense importance that one goes through his or her credit report at regular intervals of time and be aware of his own credit activities to avoid identity theft. One can request for his credit report from the three major credit reporting bureaus, Experian, Equifax ® and TransUnion ® for free once in a year.

Checking credit card statements on a monthly basis is also a practice that is being encouraged a lot. I would be stating the obvious if I said that one should not give away his or her SSN easily to any organization without knowing the reason.

For more info and to order your credit report with FREE credit score please visit

Thursday, July 23, 2009

Credit Report and Credit Score

One can not deny the significance of a good credit score and it is of utmost importance to check your credit report regularly.

You credit score says a lot about your trustworthiness and helps the creditors decide the interest rates. At times you might even be denied loans if you have a bad credit score. In order to keep your financial life pleasant, you need to make sure that you do not ruin your credit score. There are a number of things that you need to keep in mind while working on your credit score.

1. Do not apply for too many credit cards in a short span of time.
2. Not paying bills on time can be fatal for your financial life.
3. Do not close old bank accounts as it shortens your credit history
4. Safeguard your self against Identity Theft.
5. Keep the balances in your credit cards low.

It is also important to check your credit report on a regular basis. At times mistakes might creep into your credit report thus reducing your credit score. Checking your credit report regularly also safeguards you against identity theft, which is one of the fastest growing crimes in America.

You can contact the three major credit bureaus to get your credit report. Once a year you can get your annual credit report for free from one of these bureaus. In case of mistakes in your credit report you need to get in touch with the concerned credit bureau and apprise them of the mistakes. For further assistance on credit reports and credit scores please visit

For more info and to order your credit report with FREE credit score please visit

Monday, July 13, 2009

Good Credit vs Bad Credit

Good credit gives you a great financial life. Credit reports are used for a number of tasks, like establishing utility accounts, purchasing a home, getting employed, etc. If you have a good credit, you will make these routine tasks easier for you. Poor credit makes it tough to open bank accounts, rent real estates, or get affordable interest rates on loans you make, while good credit makes these things a cake walk.

Favorable rates of interest describe the importance of a good credit. People having a good credit report are assumed to be more trustworthy and low interest rates are offered to them on the basis of their credit report that suggests that they have a lower credit risk. People with bad credit find it tough to qualify for low interest rates. They are considered defaulters by creditors and have to go on paying hefty interests.

Good credit is significant for those who want to apply for credit cards and lines of credit. Poor credit denies a person of further credit and low interest rates. People with good credit records get higher balance limits as compared to people with poor credit records. Getting higher balance limits allows more flexibility with a line of credit and can be extremely useful. They might just also get a waiver for annual fees.

Even phone and electric companies check credit before they open new accounts. In case of a poor credit they may deny an account or ask for an exorbitant deposit. Landlords also tend to deny rental applications if the applicant does not have a good credit history viewing them as potentially risky tenants.

There are a number of things that can affect your credit record. It is necessary to safeguard your credit record by checking your credit report at regular intervals of time. Checking your credit report on a regular basis also helps you protect identity theft and helps improve your credit score. People are also wising up to the fact that timely payments are crucial in order to repair their credit report. It is not impossible to go from a pathetic credit score to a good credit score. It takes time though but is both practicable and possible.

What does your credit report contain?

Your credit report determines your creditworthiness. It is perhaps the most significant proof of your trustworthiness. A credit report contains all your credit activities and tells the banks and creditors if your have been regular with your payments in the past.

First up, your credit report contains your personal details. Your name, address SSN, phone number, date of birth and your current and previous employers form a part of your credit report.

Then of course is the credit information. This includes your lenders and credit report and loans you have with

• Banks
• Retailers
• Credit card issuers
• Other lenders

The most important part of your credit report is public record information. This is contained in state and county court records like

• Tax liens
• Monetary judgment
• Bankruptcies

Bankruptcies stay on your credit report for as long as 10 years and other public record information form a stigma in your credit report for as long as 7 years. These make your credit score dip to the maximum.

Inquiries also go down as a big negative on your credit report. Applying for too many credit cards in a short span of time or applying for a higher credit limit may prompt inquiries. So try to avoid inquiries.

Similarly safeguard your credit against identity theft. To do this you need to check your credit report on a regular basis. Make sure you get your hands on your credit report from one of the major credit reporting bureaus.

Friday, July 3, 2009

Importance of a Good Credit Score

It is well known that your credit score affects your financial life to the maximum. Loans, mortgages, jobs and every day purchasing depends on your credit score. Here is a brief idea about how important a good credit score is.

When a person with a credit score between 720 and 850 makes a loan, he would be required to pay an interest rate of 5.922% on a $200,000 30-year fixed mortgage rate. Another person with a credit score between 675 and 699 would be required to pay an interest of 6.584% on the same loan that is $31002 more than the person with a score between 720 and 850. A consumer with a FICO score between 620 and 674 might get a 7.734% rate. This means he would be paying $55,947 more than the middle-score borrower.

When talking about a home-equity loan, a person with a credit score between 720 and 850 might be pay an interest of $190 per month on a $20,000 loan at an interest rate of 7.911%. However a person with a score between 640 and 659 would be required to pay $209 per month on the same amount at 9.486% rate of interest.

Making auto loans would also require a person with a bad credit to pay exorbitant interest rates. If a person with a credit score between 720 and 850 makes an auto loan of $20,000, then he would be required to pay $472 a month at an interest rate of 6.282%. On the other hand someone with a credit score between 660 and 689 will have to pay $496 a month with an interest of 8.844%.

Similarly insurance premiums for those with an excellent credit score are low as compared to someone with an average or bad credit rating. A person with a good credit score (over 650) may get discounts up to 15% or more. It has been noticed that people with a low credit score make more claims than those with a good credit score. This is because people with credit problems are more likely to defer the maintenance of their properties like cars and houses. So the insurance companies prefer those with a good credit score and allow them lower premiums.

A good credit score is of utmost importance. It helps you make easy loans and helps you pay lower interest rates on the various loans you make. If you have not been working on improving your credit score, it might well prove to be disastrous for you in the long run.

Monday, June 29, 2009

Tips To Maintain A Good Credit Score

There are a number of factors that affect your credit score. It is important to have a good credit report in order to maintain a good credit score. Your credit score gives an idea about your trustworthiness to your future creditors. Here are a few major factors that affect your credit score.

Your credit score is affected by mainly your irregularity in payments. Regular payments are a must to maintain a good credit score. A single late payment goes down as a big negative in your credit report. Late payments hamper your financial life to the maximum.

Another important factor that affects your credit score is utilizing a lot of balance on your credit cards. This may prompt inquiries which further go down as a big stigma in your credit history. Make sure that you keep the balances on your credit cards low.

Experts recommend that balances on your credit cards should not be more than 30% of the credit limit. Similarly applying for too many credit cards in a short span of time may cause some problems. Do not close your old credit accounts even if they are not in use. Doing so reduces your credit history and a long credit history is some thing that the credit bureaus appreciate.

In the present era it is also very important to safeguard your financial life against identity thefts. If you end up with your identity stolen, you might ruin your financial life. To prevent ID theft you need to make sure that you check your credit report on a regular basis. You can get your credit report from one of the three major bureaus, Equifax, Transunion and Experian. Once a year you can get your annual credit report for free.

For more info and to order your credit report with FREE credit score please visit

Tuesday, June 23, 2009

Tips to improve your credit rating

There are a number of ways to improve your credit score. This involves being careful with your credit activities and managing your finances in an effective way. Your credit report is affected by a number of factors. Even a little carelessness goes down as a big negative in your credit report.

The first basic thing to take care of is regular payments. You need to make sure that you are regular with your payments and that you make all your payments before the given limit. Late payments go down as a big stigma in your credit report and dip your credit score substantially. Make sure that installments on loans, mortgages, etc are paid on time. On time payments help your credit score to the maximum.

Don’t apply for too many credit cards in a short span of time. This prompts inquiries and inquiries go down as a negative in your credit report. Similarly make sure that you do not use more than 30% of your limit on each credit card. This helps in the long run. Keeping low balances in your credit cards helps in cases of emergencies and adds to your credit score.

Safeguard yourself against ID theft. ID theft is one of the fastest growing crimes in America. In order to protect yourself against identity theft you need to be careful with your personal and financial details. Make sure that you do not give away your personal details to any body who asks for it. Make sure that the organization or the individual is genuine and requires your details for a valid reason. Avoid making transactions online and don’t give away your personal details over the phone.

Check your credit report on a regular basis. You can avail of a free annual credit report once a year from any of the three major credit bureaus. So you can check for mistakes in your credit report and inform the bureaus to correct them.

Tuesday, June 16, 2009

A Good Credit Score

Those with a good credit score have a great advantage over those with a bad credit score in the long run. There are a number of issues that come into existence for a person with a not so good credit score in the long run. It is of utmost importance to keep an eye on your credit report in order to manage your finances in an effective manner.

One you decide on buying a real estate property or wish to make loans, it is then that credit scores come handy. A person with a bad credit score might not be allowed to make loans. At times if he is allowed to make loans, the creditors charge an extravagant interest. On the other hand a good credit rating will help you make loans with the minimum possible interest rates.

Your credit score portrays your credit worthiness to the creditors. It gives them an idea about your regularity with payments. In fact a new trend is coming into existence these days: candidates with a good credit score are preferred over those with a bad credit score when selecting a candidate for a job. Similarly mortgages and simple purchasing is getting difficult for those who have failed to maintain a good credit score.

Credit score is a numerical value given to a person based on his credit activities in the past. These activities involve regularity with payments, tax liens, bankruptcies, inquiries etc. Every credit activity is taken into account by the credit bureaus when calculating your credit score.

In order to keep your credit score healthy, you need to be careful with your finances. It is important to be regular with your payments and manage your credit cards and accounts effectively. You also need to be aware of one of the fastest growing crimes in America, Identity Theft.

It is not all that difficult to maintain a good credit score. All you need to do is make payments regularly and pay debts off before the given limit. Keeping credit balances on the lower side is also a good thing to do. These steps help you avoid inquiries and stamp you as a person regular with his payments. The three basic steps mentioned above can help you get a fantastic credit score unless you fall a victim to ID theft.

In order to prevent ID theft it is important that you check your credit report on a regular basis. It helps you stay aware of any mistakes and any misuse of your credit cards. If you encounter any mistakes it is best to report it to the credit bureaus at once and have your accounts closed in order to avoid further damage to your credit.

Reliacredit safeguards you against ID thefts and helps you keep a check on your credit report. For more details on credit related facts and benefits visit

Monday, June 15, 2009

Protect your Identity

The world is a witnessing a phenomenal increase in identity theft cases. People are worried about the statistics. However, it is not very tough to protect your identity. You need to keep in mind that giving away personal details can be hazardous for your financial life.

There are three major types of id thefts - phone fraud, bank fraud and credit card fraud. Using one of these methods these criminals gain access to your credit information, purchase items and open new credit cards in your name by pretending to be you, thus ruining your credit record. Here are a few ways that can protect you from these thieves.

• Avoid bringing all your credit cards wherever you go.

Limit the number of cards you carry, you won’t lose much in case you are robbed. Also make sure that you don’t bring with you records of PINs and passwords.

• Lock credit profiles at the credit bureaus.

The government gives you the right to call the credit bureaus and request them to freeze your accounts in case of ID thefts. Hence, no new credit activities can be done without your consent and no individual or company can gain access to your credit profile without your permission. This step is very crucial because it closes one of the avenues for thieves to get your personal details.

• Get a Post Office box

This is a locked mailbox that keeps your mails safe, especially from thieves. Once you have this secure mailbox, make sure that your cheques, bills, and other important mails are sent to this box.

• Be careful while giving away your personal information.

At times giving away personal details on the internet is necessary and unavoidable. Make sure that the person or company you’re dealing with is genuinely legitimate. Before typing in your credit card number, make sure that the site’s URL starts with “http”. Check for the closed padlock symbol at the bottom right hand corner of your browser. If this symbol appears, then your browser is strongly connected to that website.

Check your credit report with

Friday, June 12, 2009

Tips to Keep Your Finances Safe

Identity theft has become one of the major threats because of the growing use of internet, modern technology, and tech savvy cyber criminals. Unethical elements in our society are always looking for ways to steal our hard-earned money. Hence you should be careful with all your credit dealings and transactions in order to successfully avoid identity theft and credit misuse. Here are a few tips to keep your credit card safe.

• Don’t leave your credit or debit cards unattended whether in your wallet or briefcase.
• Never carry around a many credit cards at a time when you don’t intend to use them.
• Make sure that you get your credit receipt where ever you use it; there is a great possibility that your credit card details are included there.
• Do not discard credit card receipts as trash and make sure you keep it at a safe place.
• Shredding documents containing sensitive and important data before disposing them is a good idea.
• Make sure that you do not give away your credit card information to someone you don’t know. If you commenced the call, it might be safe but it is still good to not give a person access to your personal details.
• Don’t reply to emails that ask for your credit related information. Phishing and fake emails are the major sources of online fraud.
• Review your credit report on a regular basis and check your credit card statement as soon as you get it. Make complaint if any inaccuracies are encountered with.
• Ask for your credit report from the three credit reporting bureaus. There is a possibility of an unauthorized application under your name.

Personal information like your name, address, credit card number, phone number, Social Security number can be used against you. It is important to only reveal these sensitive data to someone you fully trust. Internauts and people who make purchases online are vulnerable to identity theft. Not all websites out there are legitimate; many websites use cookies to hold on to information on your hard disk.

Thursday, June 11, 2009

Reasons for ID theft

Identity theft continues to be the most common crimes that are being committed in the United States of America. The dismal reality is that the number of identity thefts is increasing at a steady pace. A lot of people of all ages are falling victims to identity theft every year. There are many reasons defining the rise identity theft in today’s era. Here are a number of reasons for the increase of ID theft

The Current Economy

Experts affirm to the fact that one of the major reasons for the increase in this kind of crime is the current recession hit economy. Unemployment is one of the major problems people all over the world are confronting with today. It is becoming tough for people to make ends meet. Grievously, some of the people are electing to resort to illegal means of making money.

Increase in Drug Abuse

Another reason why identity theft is on the increase across the country is the augmenting number of youths who are using illegal drugs. Drugs and identity theft seem to go hand in hand. Many people end up using drugs and hence they seem involving themselves in different types of theft crimes, especially ID theft. In fact, statistics have revealed that majority of people who use are involved in theft crimes of different kinds, especially identity theft.

The Internet

Internet is a part of almost every home these days and the number of netizens is increasing with every passing day. Transactions are being made online, and an increasing number of people are being exposed to predatory identity thieves. The internet is a haven for unethical people who intend to steal identities. Even when a user is very vigilant and careful with his online credit dealings, it is still likely that the person falls victim to an identity theft.

Lax Security

Lamentably, many businesses are not fully secure and safe when it comes to protecting the credit related information of their customers. Lax security is yet another reason that contributes to the rise in ID theft. Identity thieves are able to gain access to personal and financial information from the businesses easily.

Consumer Carelessness

Another reason why ID theft is becoming a major crime lies in the fact that many consumers are a bit too careless when in managing their finances and personal information. Such people can have their identities stolen without even having a clue about what happened.

Wednesday, June 3, 2009

Tips to safeguard your identity

In order to protect your finances and credit report, it is required to take certain important steps. Many people fall victims to identity theft every year. Starting anew is a difficult and time-consuming process. Credit cards are popular tools that invite thieves to get their hands on your credit related information. Here are a few tips to curb the risk of identity theft.

Tip #1: Don’t Carry Too Many Credit Cards

Don’t carry all of your credit cards and debit cards with you everywhere you go. If your wallet or purse gets stolen or lost then you are a dead duck. It is better to carry only one or two credit cards at a time. Even debit cards should be left at home, as they provide thieves with instant access to your credit details.

Tip #2: Keep an eye on your credit and debit cards all the time

Identity thieves make use of skimmers to swipe or scan your cards thus stealing your account information. This may happen in hotels and restaurants where waiters ask for your credit card to pay your bill. Once your credit card information is stolen, the thief can use it for online shopping or make a counterfeit credit card using your information.

Tip #3: Photocopy All of Your Credit and Debit Cards

As soon as you get a new credit or debit card, make sure you get it photocopied and put them in a secure place. Make sure to photocopy the customer service telephone number, account numbers and the expiration dates. This way, even if you lose your cards you can find the information easily.

Tip #4: Keep Credit Card Receipts

After paying for items with a card, never throw the receipt in the trash. A lot of your credit related information is contained on the card. You should rather put the receipts in a safe place and then check that the receipts match up with your monthly statement.

Tip #5: Don’t Give Out Information Over the Phone

Make sure that you never give out your credit card information over the phone or the internet. Only give away information if the source is a trusted one and you are sure that no mishaps will occur.

Friday, May 29, 2009

A few factors affecting your credit score

Your FICO score mainly depends on the following factors. If all these factors are handled wisely, you can get a good credit score. Here are the factors affecting your credit score.

1. Your financial Records – Payment records are the most significant aspect affecting your credit score and contribute to about 35% of your credit score. It shows your regularity with your payments. Timely payments go down as a big positive in your credit report. You might even witness a hike in the credit score if you pay the bills before the due date..
Delinquent or “charged-off” accounts affect your credit score to the maximum. It is best to pay them off as soon as possible. The stigmas might still stay on your credit report even if you have paid them off. However creditors take your application into consideration if you have tried to repair your credit by paying the entire pending amount off.

2. Outstanding Debt – Outstanding debs makes up for 30% of your credit score. This is the amount you owe to your creditors to your credit limit. Experts recommend that you keep the credit utilization under 35-50% of the total limit. A low credit utilization rate helps improving your credit score.

3. The length of your Credit History - This constitutes 15% of your credit score. A long credit history has a fantastic affect on your credit score. If you have a number of credit cards, you might as well consider closing the recent ones rather than the old ones. You can, in stead adjoin as an authorized with a relative or a family member to one of their old credit accounts. This helps boosting your credit score.

4. Type of Credit Account – Almost 10% of your credit score depends on the kind of accounts you use. Unsecured credit accounts do no good to your credit score. On the other hand a good mix of various kinds of credit accounts is a big advantage and helps improving your credit score.

5. New Credit Accounts – Do not apply for a new credit card if you don’t need it. A request for a credit card may prompt a hard inquiry from the creditor. Even a single hard inquiry slashes your score by 2 to 50 points, which further remains on your credit report for a period of 2 years. Hence, applying for many new credit cards within a short span of time is a big ‘No’.

Thursday, May 28, 2009

Dealing with Identity Theft

Identity theft is one of those crimes in America that is growing at a steady pace. At times people don’t realize that they have been a victim to identity theft until after a long time. You need to check your credit report regularly in order to keep yourself away from identity theft.

If you have not been receiving the concerned bills or other mails then you might be a victim to identity theft. You might also be a victim if you receive credit cards that you did not apply. Many people realize that their identity has been stolen when they apply for loans or credit and their applications are rejected or denied. If you have not been keeping an eye on your credit report for a long time and you have no idea why you are being served court papers and arrest warrants, then that is a clear case of identity theft. Similarly if you get calls or letters regarding the payments of things you did not purchase then you are definitely staring into an identity theft.

Things to do if your identity has been stolen

1. You are required to place a fraud alert with all the three credit reporting bureaus on your credit report. Put in a victim’s statement to your credit report in order to get the bureaus to contact you regarding the verification of your future credit applications.

2. Have all the inaccurate information corrected in your credit report. You need to request the bureaus to remove the inquiries from your credit report that were not initiated by you. Make sure that your personal details like your name, address and S.S.N are correct.

3. Inform your credit card issuers: Make sure that you inform the credit card companies and apply for replacement credit cards. Close all your old accounts and write a letter to the credit card issuers explaining them the reason for your actions.

4. Report the theft to the police and get a police report copy. Most importantly report the theft to the Federal Trade Commission: Consumer Response Center
Federal Trade Commission

600 Pennsylvania Ave, NW Washington, DC 20580
Toll-free: 1.877.FTC.HELP
TDD: 202.326.2502

For more information about your credit report and identity theft please visit

Tuesday, May 19, 2009

Protecting Identity Theft

Identity theft is one of those crimes that has been swelling at a steady pace through out America. It is important to guard yourselves against this amplifying crime else you could end up ruining your financial life.

In order to protect self from identity theft you need keep a regular record of your credit activities and stay watchful all the time. Some precautionary measures are as follows

Don’t give away your S.S.N when you are not sure enough: In some cases it is important to give your S.S.N but you perhaps already know when it is required in daily life to give your S.S.N to a person. However, at times there are cases when a person asks for you S.S.N on the phone or on the internet, it is then, that you need to be aware of theft. Giving away the S.S.N on the internet is not a good idea as it becomes accessible to the tech savvy thieves sitting in front of the computer. Similarly you should make sure that the S.S.N is genuinely required by the person who is asking for it. Know the reason before giving your social security number to anybody.

Be careful while making checks: It is not a good practice to write your driving license or Social Security number on checks. This way the thief is presented with even more opportunity. In some states it is illegal to write credit card numbers on the check. Make sure that you don’t write any such information on your check that makes you vulnerable to identity theft.

Check your credit report regularly: Checking your credit report regularly helps determining if there has been any mischief in your financial dealings. If you encounter inaccuracies you should contact the bureaus at once and inform them of the mistakes. Credit reports are availed to every American free of cost once a year. Make sure that you get your hands on your credit report and check for credit activities not carried out or performed by you.

Be careful while creating pins and passwords: Make sure that you create unique PINs and passwords. Avoid using the sequence of digits in your S.S.N, your credit card number or your driver license. Also avoid using your middle name, your birth date or your mother’s name. If your passwords or PINs include the above, you should change it as soon as possible as it is cake walk for thieves these days to crack such passwords and PIN codes.

Thursday, May 14, 2009

What Does Your Credit Report Contain?

Credit history or a credit report envelops all your credit activities. Credit report prepared by the three major credit reporting bureaus has the following major components.

First up it contains all your personal details like your name, address, phone number, birth date, and your Social Security number. This helps make sure that the credit report is to the point and belongs to the right person as there may be many people with the same name.

Next are the credit activities that you have performed over time. This involves public record information like foreclosures, tax liens and court ordered payments. This helps a lender decide your trustworthiness. This also gives an idea about the legal judgements and defaults against your name. Information such as bankruptcy remains in your credit report for as long as 7 years and is a big stigma.

Other credit related information like loans you made, number of credit cards, late payments, etc is mentioned in your credit report too.

The next section comprises of ‘Inquiries’. This encapsulates a list of creditors, lenders, insurance companies and other organizations that have requested for your credit report. Inquiries remain in your credit report for 2 years and are again, a measure of your credit worthiness.

Tuesday, May 12, 2009

Avoiding Credit Scam

There have been many cases when Americans have ended up ruining their financial lives because of credit scams. Many people with a bad credit who are desperate to improve their credit scores are vulnerable and fall into the trap. One should always keep in mind a few points when deciding upon a credit repair organization.

“Consumer Credit File Rights Under State and Federal Law” provides you with knowledge about your right to get a credit report and dispute inaccuracies in the credit report. A copy of this law is given to every customer of the genuine credit repair organizations which are governed by the Credit Repair Organizations Act.

The legitimate credit repair organizations provide their customers with a copy of the contract before they are asked to sign it. The contract has the following details

1. The charges that apply for the services being availed to you.
2. The time required for the services to be performed
3. Name and Address of the organization.
4. A statement that says that the contract can be canceled within 3 days.

Fake credit repair organizations may ask for an advance payment either partial or complete. Many such fake organizations have also been reported to ask the customers to create a new identity and get a new Social Security Number or the Federal employer identification number (EIN). At times they also require you to sign a form that says that you are waiving your rights under the CROA.

However experts suggest that you start your credit repair stint yourself and that there is nothing that can’t be done on your own as there is legally nothing such organizations can do to improve your credit score. Disputing information is as easy for you as it is for the credit repair organizations. All you need to do is write to the credit bureaus about the inaccuracies present in your credit report and disputing the wrong information.

Before hiring any company to manage your credit or repair your credit
, you need to do make sure that you are not being scammed. You can do some research on the internet regarding the company concerned.

Monday, May 4, 2009

Detrimental Affects of Bad Credit

It is not a very uncommon concept that bad credit can have detrimental affects on the financial life of a person. There are various ways in which a person can be affected with a bad credit.

1. Not qualifying for large purchase loans: Apparently there is no such thing as ‘minimum credit score that qualifies you for a loan’. It depends on the lender if he is to allow you a loan with your credit score. Different lenders have a different idea of a good credit score. However a FICO credit score above 650 is considered good.

Having a bad credit may deny you simple loans such as home loans, car loans etc. It can further have adverse affects as it may even make purchasing a difficult task. Even purchasing furniture and electronic entities can become tough.

2. Less chances of qualifying for credit cards: One of the major determining factors for the issue of credit cards to an individual is his credit score. A bad credit score will not qualify a person for more credit cards. A person with a bad credit score is assumed to have bad credit worthiness and hence is not allowed more credit cards.

Applying for too many credit cards may just creep in to the credit report as inquiries which are bound to reduce the credit score to a further bad figure.

3. Higher interest rates: If, however, you have been allowed a loan in spite of having a bad credit score, do not consider it as a problem solved. You may be charged extravagant rates of interest on the loans you make. A person with a good credit score will be paying a much lower interest rate. The difference is huge. A person with a good credit score may be paying an interest of 10% per annum as compared to a person with a bad credit who pays an interest at 20% per annum. Exorbitant interest rates can further leave a big stigma in your credit report if the interest is not paid on time.

4. Limited credit limit: A bad credit record will hamper the credit limit to the fullest. This can affect the purchasing power of the credit card holder. The debt should not exceed more than 35% of the total available credit on the credit card. This helps keeping in check the expenses and does not contribute to a bad credit rating. Credit utilization is hampered by a rise in balances with the same credit limit which further goes down in the credit report as a negative remark.

5. Paying hefty insurance premiums: With a bad credit, one may be paying hefty insurance premiums. Some insurance companies also take into consideration an applicants credit score in order to judge if the person will make a high number of insurance claims in the future. Fewer incidents of auto accidents have been reported in case of individuals with good credit as compared to those with bad credit hence insurance companies look up a persons credit score before accepting the application for insurance. These days however ‘insurance score’ is being considered by more and more insurance companies. But still a credit score of 650 plus can help you cut down more than 15% on the insurance premiums.

6. Renting space becomes difficult: A bad credit makes it difficult to rent office space or an apartment. A bad credit implies that a person would be lousy in paying the rents on time and has a low trustworthiness. It becomes difficult to lease a retail or home property as you may be subject yourself to higher deposits or higher rent amounts or an altogether denial of lease.

Friday, May 1, 2009

Making Amends in the Credit Report

You may have had a very bad credit history till date but that does not mean that there is no way to resurrect and to make amends in the credit history. Many Americans have improved upon their credit history after having had a pathetic credit score. It is not an impossible task to improve upon the credit score. Finances when managed well automatically lead to a good credit score.

The credit reports are constantly upgraded by the three credit bureaus. Although some negative credit activities stay in the credit reports for as long as 2 years and some for as long as 8 years, it does not mean that all efforts to improve the credit history would go in vain.

Experts have long been suggesting ways to improve the credit life. Some Americans have also made it a habit to check their credit report on a daily basis. This way they avoid inaccuracies in their credit report and can also keep a check on the credit fraud. Hence to make a good credit report one should follow the simple rules explained by those who have been into finances since a long time.

1. Keep low balances: Keeping low balances on your credit card has a very good impact on the credit history. Keeping the balance under 30% of the credit limit will definitely help enhance the credit score in the long run.

2. Avoid opening new accounts: you don’t want to be held guilty of trying to get a lot credit in a very short time. It may have a negative affect on the credit history. Hence opening new accounts may raise the credit-utilization ratio but this may just prove to be a wrong move and might increase the number of inquiries. There are no bonus points for opening new accounts. In fact closing accounts also does not affect the credit history. So the accounts that are not in use should be closed as soon as possible.

3. Have a long credit history: if you have had a good long credit history then that is definitely something to be proud of. That goes down in the credit report as a positive remark. This is something that can not be changed overnight so one needs to be patient and look at long term benefits while working on having a good and lengthy credit history.

4. Get your acts together and pay on time: This is the most important thing one can do to get a good credit score on the report. Paying off all the pending bills and outstanding debts will have a great impact on the credit score and it is likely to shoot up in such a case.

5. Get rid of false information: In case any false information is present in the credit history, it should be reported to the bureaus a soon as possible to avoid lowering the credit score for a mistake that was not committed by you.

Wednesday, April 29, 2009

Monitoring Credit

Managing finance is an art and that too not a very tough one. Although it may take up some time but is definitely not a task only a rocket scientist can perform. There is no ambiguity about the fact that managing finances has a lot to do with managing credit.

Managing credit involves staying au fait on the credit activities and making sure that no inaccuracies seep into the credit report. It is therefore necessary that the credit report is reviewed at regular intervals of time. Not only does that help leading a good financial life but it also helps preventing identity thefts by taking immediate actions in case of credit fraud before too much damage is done.

There are numerous reasons why the credit report should be reviewed on a regular basis. Credit reports can be obtained from the three major credit reporting bureaus. However it is not necessary that all the three credit reports be alike. Mostly lenders report to just one credit bureau and the information is not exchanged amongst these bureaus. Once in a year all the bureaus are required to provide the consumers with a free credit report but no free credit scores are provided to the consumers.

Monitoring and reviewing credit reports more than once a year is one practice that is encourage by experts. Knowing credit score helps understanding where one stands so that he can take steps to improve his credit worthiness accordingly. A credit score decides if a person is eligible for a higher credit limit and further loans. Having a good credit score has perdurable advantages.

It becomes further propitious to get the credit reports from all three bureaus along with a credit score. In order to help improve consumers’ credit life and make amends in finances, provides a 3 in 1 credit report (which compiles reports from all three credit bureaus) along with the credit score. This helps monitoring credit for three months on a daily basis. The site also provides a good insight on all aspects of credit monitoring and credit protection.

Monday, April 27, 2009

Annual Credit Report

One is not oblivious of the fact that the credit score and the credit report are a very significant part of one’s financial life. It is of immense importance that one keeps track of his credit report especially in today’s stressed out economy.

The annual credit report provides one with all his credit dealings and activities. The annual credit report is made available to the American citizens by three credit reporting bureaus

• Equifax
• TransUnion
• Experian

On request a free annual credit report is provided to those who request for it every year.
A credit report takes into account all the credit dealings done by the particular individual or a firm. The credit activities such as personal loans, car loans, home mortgages are encapsulated in the annual credit report. Other than this, foreclosures, bankruptcies and tax liens are also mentioned in this report.

The Fair Credit Reporting Act (FCRA) and the Fair and Accurate Transactions Act (FACT) have made it mandatory for the three credit reporting bureaus to provide the individual with a credit report. However the credit scores are not provided to the person in these annual credit reports.

To avail to this facility one needs to provide his personal details like name, address, Social Security number, and date of birth. Once these details have been provided you will be asked something about your credit dealings that only you have the answer for. This way one can get a credit report and can help protect identity thefts as well.

Various websites on the internet also help the American citizens by providing the annual credit report. provides the American citizens with a credit report and a free credit score.

Saturday, April 18, 2009

Credit Cards: Still A Boon

Credit cards have long been serving the masses all over the world, but it still is a topic of debate if credit cards are a boon or a bane. Using credit cards is like using a remote control. When the remote is in your hand you are responsible for what you watch. You may watch a baseball match played 2 years back or you may watch some infotainment channel like the discovery or the animal planet. Similarly when the credit card is at your disposal you are responsible for all the credit dealings you do, good or bad.

Credit cards were made in order to help people live a simpler life. If some people ended up complicating their lives, credit cards are not be blamed. Here’s why.

The basic principle defining a credit card is that you can buy whatever you like and pay for it later. What people remain oblivious to during purchases via credit cards is the latter half of the previous sentence: to pay for it later. The credit cards also give you the option of not carrying huge sums of money while going shopping or on a vacation.

If you are out in the market and fall for a particular pair of shoes and feel like buying it that very moment, then either you would buy it right then if you have the money or you would decide to buy it on the 30th of month, when you are to get your pay check. However the shopkeeper tells you that it is the last pair of shoes of its kind and could be sold any minute.

This is when credit card comes into picture. Using a credit card you would be able to buy it and pay for it later. This way you are asking your own bank to pay for it on the condition that you would return the money to the bank in a month’s time by having the money transferred to your account in the bank.

This is a facility that the bank has availed to make life happier. However if you fall for a SUV and decide to buy it using your credit card thinking that you would arrange the money and pay it later, then that is something that could be disastrous for your financial life. Given that you earn $1000 per month and the SUV costs $10000, what if you would not be able pay the money in a month’s time?

If in case you are not able to pay the money back in a month’s time, the bank charges you with a penalty or you have to pay an interest of approximately1.3%. This may look small but in reality is an exorbitant rate of interest. This is the first step to financial exigency and your troubles keep snowballing once you start with the downfall. This is how most of the financial deaths are incurred.

It is the human stupidity that leads to such a financial catastrophe. However if you use your credit card wisely, then there is no way it could lead you into the deep quagmire of debts.

Another way of using the credit card wisely is to keep checking your credit history and keep working on improving your credit score. This is exactly what you can do at Reliacredit. You can get your credit report and know all about a good financial life. The site helps you lead a happier life in monetary terms by providing information about all kind of terms involved in the credit world.

Tuesday, April 14, 2009

How To Improve Your Credit Score In The Present Recession Hit Economy

This definitely is a known fact that a person with a good credit score is bound to have a great advantage over his lousy counterpart. However it may be a little time consuming but one can surely improve upon his credit score. In the present economy when the global financial meltdown has struck virtually each and every individual, this may sound a little difficult but is certainly not impossible.

A person with an excellent credit rating could have interest rates chopped off to 5 to 6 percent. On the contrary a person with a poor credit history might have to pay an interest rate as high as 22 per cent. This shows the clear difference between a credit score over 770 and a credit score below 600.

In the present times it is a difficult task to pay off all the debts. This may even sound ridiculous considering the present recession hit scenario. However one needs to be mindful of the fact that every decline in an economy is followed by a boom. When the economy booms, everything is available and getting loans and decent interest rates are a cake walk for those who have a good credit score. So this may be the time when you start working on improving your credit score.

Generally when a credit history is looked up, the credit activities of the last 2 or 3 years is given more importance than those of the longer past. To start paying the bills on time may not sound a bad idea to many. Late payment is one major negative in a credit score.
Missing out on even a single mortgage payment may be disastrous in the future. If you have been missing monthly payments for a few months then there is a chance that your account is turned over to a collection agency. In this case the impact on the credit score, which is obviously negative will stay there for 7 years even if you pay all the debts.

In the present economy another important factor can help someone better his credit score.
To keep old accounts open will be a good idea as it helps give a fresh start to your credit activities. However opening many accounts in a short span of time leads to negativity in your credit scores, but closing old accounts does not affect it at all. So one should keep the number of accounts manageable and keep old accounts open. Keeping these accounts open makes sense, but what is more important is that you keep the balances low. If one keeps his credit card balance low and uses only up to 10 to 30% of the credit available then there is a phenomenal improvement in the credit score.

Buying things is tough in the present scenario but writing to the collection agencies is not strenuous at all. In most of the cases it is found that collection agencies have no proof that the account is yours and you can gladly have them deleted from your credit report.

Similarly you may catch an error or two if you go thoroughly through your credit history and this can get you a higher credit score when the mistakes are pointed out and removed.

There are companies who add seasoned accounts to the credit file. Though the charges are on a higher side, but this is a very effective step one can take.

To consolidate balances into a single card is another step to be avoided. May be the interest rate calculations fit the bill, but it is definitely better if one has his debts distributed over several low interest credit cards.

Today may not be the right economy to pay off all the money you owe people. You might as well not have the money to give away, but to improve your credit score may be perhaps time consuming but still is an easy task in the present times.

Various credit reports can be made but all of them more or less provide the same rating. provides the users with credit reports too. With Identity Guard's 3-in-1 Credit Report you get unlimited online access for 30 days to a consolidated report of your credit histories from Equifax®, Experian®, and TransUnion® with side-by-side comparisons.

Hence if one wants to get his acts together then one can definitely hit this page n check his or her credit history.

Thursday, March 19, 2009

Protecting Your Credit When Getting Divorced

If you are going through a divorce, it is essential for you to take the steps necessary to keep your credit protected. Unfortunately, many people who go through a divorce think that they don’t have to worry about credit cards and other bills if the divorce decree states the other party is responsible for paying the bills. Depending upon the types of accounts you have, however, your credit can still suffer even if your divorce papers do not hold you responsible for repayment of the bills. Therefore, it is important for you to understand the different types of accounts you and your ex may hold and how these accounts are viewed by the companies you owe.

The Individual Account

After you get married, you and your spouse may continue to hold individual accounts. If you have an individual account, you are the only one who is responsible for repaying the debt. Therefore, if you and your spouse maintain only individual accounts, you don’t have to worry about whether or not your spouse pays off the bills. In some states, however, even individual accounts are considered to be part of your “community property,” which means you are both responsible for all of the debts incurred during the marriage. Currently, community property states include:

New Mexico

Unfortunately, if you do not have a job outside of the home or if you have a low income, you may not be able to qualify for an individual account. On the other hand, if you do open up an individual account and if you handle it responsibly, you don’t have to worry about anyone else being able hurt your credit score.

The Joint Account

As the name implies, a joint account is one that you share with someone else. In order to qualify for one of these accounts, the credit history, income and financial assets of both individuals are taken into consideration. As such, both people are also responsible for repaying the debt. Therefore, even if your divorce decree requires your ex to repay the debt, the lending institution can still come after you to repay the debt and your credit score can still be hurt if your ex fails to make the necessary payments.

Since you are still responsible for repayment of the debt on joint accounts, you should take steps to protect yourself when developing the divorce decree. For example, you can request that the joint accounts be converted to individual accounts or that your ex apply for a loan in his or her name in order to pay off the joint account. This way, you don’t have to worry about whether or not the debt is getting paid off in a timely manner.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for . For more info and to order your credit report with FREE credit score please visit

Tuesday, March 10, 2009

What You Need to Know Before Co-Signing on a Loan

Are you considering helping a friend or family member with obtaining a loan? If someone has asked you to co-sign on a loan, there are several things that you need to be sure to consider. Namely, you need to be certain to fully understand the possible short and long-term effects that co-signing on someone's loan may have.

Potential Problems with Co-signing

Many people do not fully understand what they are agreeing to when they co-sign for a loan, as many mistakenly believe they are simply helping someone get a loan and nothing more. The reality is that you are just as responsible for repaying the loan as the person you are helping out. In fact, depending upon the state where the loan is taken out, the lending company may have the right to come after you for repayment on the loan before coming after the person you co-signed for.

Regardless of the state where you live, the lending company does have the right to use the same collection methods on you as it would on the person you are co-signing for. This means the company has the right to send your name to a collections agency, to garnish your wages and to send the information to the credit reporting bureaus.

Getting Stuck with Someone Else's Debt

Unfortunately, statistics show that many co-signers end up getting stuck paying on the loans they helped someone else get. According to some studies, as many as 75% of co-signers are ultimately asked to repay the money that someone else borrowed. If you think about it, this shouldn't actually come to much of a surprise. After all, a lender only asks for a co-signer when the person borrowing the money is a risky investment. If the lender is not confident in the person's ability to repay the loan, why should you be? To make matters worse, if the person you co-signed for fails to repay the debt, you are also going to be held responsible for any late fees or other costs associated with the loan. Therefore, you could potentially get stuck with a debt that is greater than what you had originally bargained for.

Keeping Yourself Protected

If you still want to help someone out by co-signing on a loan, there are a few things you should keep in mind in order to keep yourself protected. If possible, see if the lender will agree to:

Put in writing that you will only be responsible for repaying the principal on the loan if the borrower defaults, which means you won't be responsible for paying court costs, late fees, attorney fees or other expenses that could be added to the cost of repaying the loan
Notify you if any of the payments toward the loan are missed so you can keep up with payments before it the loan gets too far in default
Provide you with copies of all papers associated with the loan, such as the actual contract, any warranties and the Truth-in-Lending Disclosure Statement

Of course, you also need to be certain you are financially prepared to repay the debt if the person you are co-signing for is unable to pay. This way, if the person defaults, you can be certain your credit remains in good standing.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for . For more info and to order your credit report with FREE credit score please visit

Wednesday, March 4, 2009

Simple Tips for Investing in Real Estate

If you are someone who is interested in trying to profit from the current economic troubles, you may want to consider getting involved in real estate investment. The reality is that home prices are down around the country, which makes it the perfect time to start purchasing desirable properties so you can resell them later when the economy rebounds. Although it may require making a hefty investment now, it will certainly result in a substantial profit down the road if you make wise investment decisions.

Getting Your Feet Wet

Many people who are considering real estate investment feel quite nervous about getting started. After all, even when you are investing in what seems like a sure thing, you will have to put quite a bit of money into your investment. But, the reality is that you will never become entirely comfortable by the process until you actually get in there and start investing. Of course, before you start putting money down on real estate, you should get to know the market a little better. This way, you will be able to make the wisest decisions possible.

In order to familiarize yourself with the market, you should begin networking with other people in the real estate investment business. You can do this by attending Real Estate Investment Association meetings and by talking with other investors. You may even want to consider partnering with other investors who have been in the real estate investment business for a while. This way, you can learn from their expertise and begin to get a real feel for how real estate investment works.

You should also make it a habit to watch listings on a regular basis. MLS listings and the newspaper for that particular market are both good resources to use.

Choosing a Specialty Area

Once you start taking a closer look at the housing market, you will find that there are a variety of different types of properties available for purchase and investment. Although you can certainly dabble in all types of properties, many investors choose to start off specializing in one particular area. For example, you may choose to specialize in homes that are in foreclosure or pre-foreclosure. Or, you might focus on purchasing rehab properties or quick flips. After you become comfortable with investing in one type of property, you can easily expand your investment business to take on other types of properties as well.

Of course, before you can start investing, you will need to have the financing available. This means keeping your credit rating in good shape so you can qualify for loans. Also, it pays to establish a good working relationship with a particular lender, as this will help make it easier for you to get the loans you need to make investments in promising properties.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for . For more info and to order your credit report with FREE credit score please visit

Monday, February 23, 2009

Buying a Home: It's About More Than Getting a Loan

Are you are first time homebuyer? If so, there are more things for you to consider than whether or not you will be approved for a loan. In fact, there are several decisions you will need to make and several steps you will need to take before your new home purchase can be finalized.

Deciding if Buying a Home is Right for You

Many people assume that purchasing a home is the best financial decision you can make, but this is not necessarily true. If you are not ready to handle the financial responsibility of home ownership, it is important for you to wait until you are ready. This way, you won't find yourself in a tight situation where you are faced with the possibility of losing your home. Furthermore, if you anticipate moving within the next few years or if you do not have the time to tend to maintaining your home, it is probably better for you to continue renting a little longer.

Determining What You Want to Buy

If you have decided that you want to purchase a home, you will next need to get an idea of the type of home you are interested in purchasing. Start browsing through the Internet and looking at homes that are on the market so you can get a better idea of what is out there. The better idea you have of what you are looking for, the better a Realtor will be able to help you find the perfect home for you. If you have a good idea of what you want, it can take only a couple of weeks for you to find the right home for you.

Exploring Your Options

Once you find the perfect home that is within your budget, there is no need for you to continue looking at other homes available on the market. In all likelihood, however, you will find a few homes that you like and will have to narrow down your choices from there.

To help you in the process of narrowing down your choices, take a digital camera with you and take photos of the home so you can look at it again later. You should also take a notepad with you so you can take notes on each home. These notes should include information about the home's unique features as well as your thoughts and impressions.

After you have narrowed down your choices, revisit your top choices and pay special attention to the neighborhood. It is also a good idea for you to visit the neighborhood at various times during the day and night in order to make certain it suits your needs. In fact, you may even want to make a drive from the home to work in the morning so you can get a good idea of the traffic situation.

Buying a home certainly is not something you should rush into. Therefore, take your time and explore your options thoroughly so you can be certain to get the home of your dreams.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for . For more info and to order your credit report with FREE credit score please visit

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