|I stopped believing in Santa Claus when my mother took me to see him in a department store, and he asked for my autograph. - Shirley Temple|
|Home Improve Your Credit Score|
Improving Your FICO Score
How Can I Improve My Credit Score?
Raising your FICO score will make it easier for you to qualify for better interest rates, higher credit limits, and more types of credit that are not available to those with a low score. There are no tricks or quick fixes to getting a good credit score, but by consistently demonstrating good debt management over time you can raise your score.
Here are a few tips that can help you raise your score:
Why Your Credit Rating Is Important?
Your credit history will follow you everywhere. When you apply for a home loan, a credit card, or even a phone hookup, your credit rating is checked. A poor credit history can cause a business to deny you credit. If you declare bankruptcy, it will show on your credit report for up to ten years. Bad credit can produce a low FICO score, which in return can make you a potential credit risk to lenders. A poor credit score does not mean that lenders will shun you (unless it’s utterly awful), but will lend you money at a higher rate than someone with a higher score. (Yeah, we know. It doesn't seem fair. If you already have trouble paying your bills, why do they make you pay more for a loan?)
Individuals with different credit scores can pay dramatically different interest rates. On the same mortgage amount, a person with a score of 500-559 could pay 9.29% while a person with a credit score of 720-850 could pay 5.49%.
Benefits of the Credit Scoring System
Credit scores give lenders a fast, impartial measurement of your credit risk. In the past, granting credit could be a slow process, inconsistent and unfairly biased. The introduction of the FICO score has brought enhancements to the credit process. Because of credit scores:
If You Have Bad Credit in the UK
In the United Kingdom, you may be able to legally eliminate a credit agreement entirely. It is believed that eight out of ten credit agreements are not formed correctly as required by law. Thus, you have the chance to cancel the credit agreement with the lender, according to the courts, when the following mistakes are made: information is not complete, simple oversights on the lender's behalf and signatures are not done correctly or missing.
Consolidation Loans.php Small Money Loans Mortgage Calculator Cheapest Personal Loans in the UK
Report A Broken Link Contact Information