Archive for February, 2010

How can you score well for Credit?

Friday, February 26th, 2010

Following my earlier posts about getting credit scored, here are a few things you can do to improve your score with various lenders.  And again, don’t worry if you don’t succeed with the first one, try another lender that suits your requirements… (more…)

How are you scored?

Tuesday, February 23rd, 2010

To begin with, there isn’t such thing as a universal credit rating, and you will not be turned down based on this simply because it doesn’t exist!  There is another post on this information if you want to read it… (more…)

Turned down for credit?

Friday, February 19th, 2010

If you’ve been turned down for credit and you think yourself financially secure enough to obtain it, don’t panic, it isn’t always you, and you certainly don’t have a bad credit rating and you haven’t been black listed; this is because these two things don’t exist…

You can read a little more about the credit rating myth in a previous post on this blog, but for the meantime let us consider why you may have been turned down when you are perfectly capable of repaying your loan or credit card.

Have you ever heard a member of the opposite sex say, “it’s not you it’s me”?  Well if you’ve heard that before then you’ll know just how frustrating it is.  However, you’ll also know that it doesn’t matter what you do, or how good you are at this or that, you are not going to change their mind!

This is how it can be with lenders.  Put quite simply, you may not be the customer they want.  Why?  Well you have to consider that lenders are not benevolent organisations, and they are not here to make our life easier.  They are here to make money, and they want people to borrow money and obtain credit who are not entirely able to pay it off very quickly.  That might sound really daft, but it’s true.  If you are the perfect customer (in your mind) who will pay off their loan and / or credit card promptly then you are unlikely to make the lender a lot of money are you?  You will not pay much in interest; thus they will not be interested in you.

Just look for another lender.

No such thing as a Credit Rating?

Wednesday, February 17th, 2010

Is this true?  Well there isn’t such a thing as a universal credit rating no, but there is, as with anything else, a level on which you are compared when it comes to obtaining credit, loans, mortgages etc.  This should explain a little more… (more…)

Post Valentines Day Credit Card Bill

Monday, February 15th, 2010

So you’ve expressed your love for whoever it may be with a mountain of roses, half a dozen expensive teady bears and a bucket full of overpriced chocolate?  Sound familiar?  And perhaps you’ve also been out to dinner and taken in a movie and done all those things that your wallet said no to… (more…)

What not to do with a Cash Back Credit Card

Friday, February 12th, 2010

A cashback credit card is a great idea, and there are many ways to make money with one of these handy little tools.  I’ve been through this at length on a previous post about cashback credit cards, but today i’d like to focus on what you shouldn’t try to do with one of these… (more…)

The best cashback credit cards

Wednesday, February 10th, 2010

A cashback credit card pays you every time you spend money with your credit card.  It’s a simple deal really.  You can potentially make a lot of money by using these cards, particularly if you pay off your balance at the end of each month so you avoid paying interest… (more…)

What is a Balance Transfer?

Monday, February 8th, 2010

Well it’s not such a stupid question you know, some people really need to know this sort of stuff, and there are plenty of you out there who won’t be entirely sure how it all works out when you try to tranfer the balance of one credit card to another… (more…)

Credit Cards that Pay You

Friday, February 5th, 2010

Now that might sound like a dream come true but it’s true.  However don’t get too excited though, i am talking about the type of cards that allow you to save money on various items, offer you travel bonuses and give you cash back on your purchases… (more…)

Check your Statement

Tuesday, February 2nd, 2010

Here is a little post about credit card fraud.  Basically what i am trying to get through to everyone is that they should check their statement as often as possible.  When i say possible i don’t mean calling the credit card line every day just to see if any credit card fraud has happened, i mean literally, when you can… (more…)