Fix My Credit Score Now

There’s a surplus of ways to harm your credit score such as running up student loans. Luckily, with some diligence and hard work, there are also a surplus of ways to fix your credit. So, if you’ve stumbled into a bad situation and found yourself wondering, “Yikes! How can I fix my credit score now?”, … Continue reading “Fix My Credit Score Now”

There’s a surplus of ways to harm your credit score such as running up student loans. Luckily, with some diligence and hard work, there are also a surplus of ways to fix your credit. So, if you’ve stumbled into a bad situation and found yourself wondering, “Yikes! How can I fix my credit score now?”, you’ve come to the right place.

The Beginning: What is a Credit Score?

This is a 3 digit number generated by an algorithm using info in your credit report. This number is used to predict risk. For example, it allows potential lenders to get a big picture view of your credit and make an educated guess about how likely you are to repay any obligations in a timely manner. Everyone has a credit score. In fact, everyone has 3.

Everyone has a credit score for each of the major bureaus:

Equifax
Experian
Transunion

The Middle: How is My Credit Score Determined

If you don’t understand all of the factors that go in to determining your credit score, it may seem as if this 3 digit number is just random. Somewhere, some guys are sitting around rolling dice to determine what everyone’s credit score is. However, in reality, these scores are based on some very concrete factors. In order of most to least importance:

Payment history – This includes late payments.
Amounts owed – The amount of debt you have.
Length of history – How far back your credit goes (the longer the better).
Types of credit used – Types of accounts you have (ex. revolving and installment).
Credit inquiries / new accounts – are you opening a lot of new accounts? Are a lot of inquiries being pulled (this happens when you apply for new credit and sometimes when you seek new employment)?

Now that you know more about your score we can finally answer the question “How can I fix my credit score now?”

When looking for ways to “fix my credit score now”, keep in mind that your credit isn’t chalk on a blackboard. You can’t take an eraser and just wipe it away in the blink of an eye. Bad reports on your score will typically hang around for seven years and bankruptcies can be reflected in your score for as long as ten years.

The End: Helpful Tips to Fix My Credit Score Now

Tip 1: History is Important

Unfortunately, this aspect of your score is somewhat beyond your control. You can’t start establishing a credit history until your 18 and it takes years to be classified as “good”. This means it is important to open up a few credit cards ASAP, keep them open, and keep them in good standing.

The part you can control is how long a card stays open once you have been approved. If there is a card you no longer want to use, instead of closing it, simply store it or destroy it. Leaving the account open, as long as you aren’t being charged an annual fee, will allow you to keep building a credit history.

Tip 2: Don’t Apply All at Once

Applying for a lot of different types of loans (ex. credit cards) in a short period of time can lower your score… as can opening a bunch of loans in a short period of time. This is a pretty easy way to fix your score. Simply stop applying for a bunch of loans and opening new accounts

Tip 3: Pay Bills On Time Always

If you have trouble remembering to pay certain bills, set up automatic payments so that the money is automatically deducted from your bank account each month. If this isn’t an option, set up automatic reminders on your phone or email program’s calendar.

Tip 4: Pay Down Debt

Lowering your debt to credit ratio by paying off debt is another way to improve your score. Paying your debt off on time (as mentioned above) is critical but if you can, you should also pay off debt ahead of schedule. Any little bit (even just $10 extra a month) will help you accomplish this goal and lower your debt to credit ratio.

Tip 5: Check Your Credit Report 3x a Year

Doing this will help you spot mistakes and fraud like identity theft.

You are entitled to 3 free credit reports a year (one from each of the major credit bureaus).

Pull a credit report every 4 months and carefully examine it. Take any mistakes seriously… they could be signs of identity theft.

Tip 6: Negotiate with Collectors

Paying off an overdue account won’t automatically remove it from your credit report. If you’re only slightly late, the balance is extremely low, or you’re going to pay the debt off in full, you may be able to negotiate with the collection agency to have the item removed from your credit report.

Three Ways A Car Dealer Can Attract The Millennial Market

For a car dealer, competition can be tough, and the trick to creating brand and business loyalty is to lure in the next generation. Many have tried to produce interesting ads featuring hip-hop music, computer graphics, and cutting-edge humor, but they have found that that really isn’t enough to pull in the generation known as the “millennials.” This demographic has been notoriously hard to reach, and television advertising to the younger buyer is nearly a moot point in the age of DVR recordings, YouTube, and Netflix.

The age group’s importance to auto sellers is also compounded by the fact that they have much less interest in driving than those in previous generations. However, there are still recent high school and college grads that are ready to become proud owners of their first vehicles that are not registered to Mom and Dad. So, how can a car dealer cater to these new consumers? Here are a few things that vehicle sellers can do to maximize their sales to young adults:

1. Recognize The Extent Of Their Smartphone Dependence

Young adults these days use their smartphones as electronic guides to the world. Why wouldn’t they? After all, they don’t really know life any differently. This demographic relies on their phone, or better yet, the Internet, to get directions to the dealership, find reviews, get showroom hours, and browse inventory. Therefore, the savvy car dealer will ensure that he or she has an updated and informative, mobile-friendly website, and perhaps even a mobile app.

2. Respect The Fact That They Have Already Done Their Research

Many vehicle salespeople get frustrated when attempting to pitch various automobile models to college-aged clients. Younger drivers already spend countless hours researching each automobile online to see if all their standards are met. After doing their homework, most of the adults in this age group visit the car dealer after their choices have already been narrowed down to one or two models.

3. Get Straight To The Point Without Gimmicks

Many millennials already have quotes from up to four competing sellers at the time that they walk through the door of a dealership. In this day and age, many younger auto buyers realize that they have the power and opportunity to leave a seller as soon as they hear something that they don’t want to hear.

Google’s statistics have shown that most adults in their early twenties tend to visit an average of 25 websites before they decide to purchase an automobile. This only reinforces the idea that an informative website is crucial for modern-day marketing. Auto sellers should also take note that young adults prefer quick responses to any online inquiries that they send through the seller’s website. Many young consumers wish to hear from the business immediately, not after several hours or days.

Hopefully, each neighborhood car dealer will eventually understand these modern ideas so they may earn the business of the next generation of consumers. Just like any other industry, automobile sellers will have to research the methods used by younger customers to shop for vehicles, and incorporate what they find into unique ways to market to that audience.

Main Causes of Home Water Damage

Insurance companies report that approximately 93 percent of water damage claims last year could have been prevented by simple home maintenance or the use of a standard shut-off system or leak detection system. With most flood damage claims costing an average of $5,000 in repairs, it’s extremely beneficial for homeowners to understand and easily identify possible threats that might lead to water damage.

Rain

According to insurance companies, rain damage makes up for 8 percent of all water damage claims. Even small amounts of rain, over time, can wear down at your home and cause eventual damage to your home’s foundation or interior. Extreme weather conditions such as floods can also cause major damage to homes, especially without the proper protection. Flood damages lead to especially dangerous amounts of standing water, which can house harmful bacteria and pathogens that often lead to illness.

Plumbing Incidents

Many plumbing problems such as burst pipes and pipe leaks occur within walls and can be very difficult to detect. Left undetected for long periods of time, these plumbing problems can cause severe water damage. Leaky and burst pipes are the most common culprits of flood damage, often resulting from backed up drains and toilets. Experts suggest regular inspections of your pipes in order to catch potential problems and make necessary repairs before any real damage occurs.

Household Appliances

Older and malfunctioning appliances can wreak havoc on a home’s internal water systems. Weak hoses and rusted or cracked pipes can lead to future leaks and water accumulation. Homes most frequently experience damage from damaged or aged washing machines and hot water tanks; however, dishwashers, refrigerators, and water heaters can also become more and more susceptible to damage over time. Fixing or replacing older models can prevent future leaks and water damage.

Air Conditioning, Heating, and Ventilation Systems

Most homeowners don’t realize that their heating and air conditioning systems require regular maintenance. Without proper attention, these units can see severe moisture buildups which can contribute to the growth of mold and mildew deposits. To prevent these issues, schedule regular maintenance with a professional to catch possible damage. Replacing old fixtures may be necessary in the long run to prevent moisture buildups and, ultimately, water damage.

How to Prevent Water Damage

While some water disasters occur as a result of unpredictable and uncontrollable circumstances, most H2O damage can be prevented through regular home inspections and the periodic maintenance of household products. Homeowners can also install a shut-off system or leak detection system to catch leaks and shut off your water main automatically in the case of a hazardous leak. Investments in smaller repairs and other preventative measures can end up saving you hundreds, even thousands of dollars in the long run.

Ask Yourself: Are You Relevant?

I have been thinking about this for quite a while. Have you ever asked yourself the question: Am I relevant?

What does it mean to be relevant? When I ask myself this question I think of the people I look to when I have a question. If I reach out for an answer from someone; I must believe in one way or another they have relevance to the answer I want or need.

If I have a problem with my car, in most cases, I typically will not go to my banker for an answer. I don’t go to my banker because I do not feel this individual is relevant to my question. On the other hand, I would not go to my doctor if I wanted an answer regarding a Certificate of Deposit or CD (not to be confused with a music CD). And I would not go to my auto mechanic if I had a back problem.

When we have questions we look to those who can possibly help.

Taking the scenarios above one step further; I might go to my mechanic when I have a back problem if I’m looking for a referral and I know my mechanic recently experienced back problems and the doctor had remedied the situation. My mechanic just became relevant because of recent experience and knowledge of someone who might be able to help me.

The same goes for the other scenarios above; there may be relevance but a different kind of relevance; they may not have the answer, but may have the ability to lead you to the answer.

Now we go back to the initial question. Are you relevant? Do people look to you for answers to their questions? Do they look to you when they need a referral? Do friends, family, co-workers, customers, supervisors, etc. turn to you when they are looking for answers?

For example if you work on a manufacturing line, do people come to you with questions regarding the operation of the line; if so, at least this individual believes you to be relevant. In this manufacturing role; do supervisors or managers ever come to you with questions regarding the line or seeking advice on the operations of the line; if so, you are relevant to even more people and to people who may be higher than you in the organization.

Maybe the questions presented to you are not directly related to your job or maybe they are completely unrelated; meaning you are considered a relevant or reliable source about something other than your day-to-day work. You may have relevance because of a hobby, a sport’s interest, family experience, visiting a certain city or area of the country; whatever it is something where people look to you for answers; makes you relevant.

Why is this important; you may be trying to advance your career and being recognized as relevant can go a long way toward reaching your career objective or current goal? You may be starting a business and relevance to your customers is critical to the success of your business.

The information you possess may make you relevant to other individuals or groups that are attempting to solve a problem and you are able to expedite the process because of your knowledge. These individuals may be prospective customers, suppliers, business partners, or may simply be someone who works – as Malcolm Gladwell identifies in his book, “The Tipping Point” – as a connector; one who brings others together.

Possessing knowledge or additional information makes you special and makes you someone people want to know better, you have become a person of interest.

How to Fix Your Credit Score and Maintain Good Credit

One of the most frustrating things is seeing people get out of debt but then get right back into it. Sometimes we know what’s bad for us, but we do it anyway. Next thing you know, you’ve got collectors calling at all hours.

How can you fix your credit score and maintain that healthy credit rating long into the future? It’s not rocket science, but it can sometimes seem that way. So let’s break it down.

Here are some things you can do to keep that credit score healthy and to stay out of debt:

• Payments: Always pay your monthly bills on time. One of the biggest reasons people slip back into debt and bad credit is because they miss one payment and then feel like they can miss another. This is not a good strategy for having a healthy credit history.

• Stay Current on Your Payments: Missing a payment happens. Maybe you had some time off from work; perhaps a family emergency came up. Now you don’t have the money and you miss a payment, but the next month you get back on track. The important thing is to get back on track and to stay there.

• Pay on Time: Are you paying your bills, but you’re paying them late? Many times your credit score will be damaged beyond belief simply because you refused to pay on time. Consider paying your bills with your first paycheck after they come, not before they’re due. Just a few late payments can destroy all the hard work you do to get that healthy credit score.

• Collections: Whatever you do, do not let a collection agency get its hooks into you again. A bad debt that is sent over to the collection agency will stay on your credit report for 7 years! That means for 7 long years you’ll have bad luck when it comes to loans, and you’ll always pay more than the other guy. Don’t let this happen – pay your bills on time!

• Communication: Are you having a tough time staying above water? When you know a bill isn’t going to be paid, calling or sending an email to the company or creditor is always a good idea. And if you’re in debt now, contacting the creditor directly is a lot better than having a collection agency sent out after you.

• Survey your credit reports for precision: It’s extreme enough paying for your own errors; you don’t have to be punished for somebody else’s. Verify that your credit reports precisely reflect your obligations and the installment history.

• Set up installment updates on your bills: Paying on time, additionally called your payment history, means 35% of your credit score.

• Quit utilizing your credit cards as much: This is an alternate method for saying to live inside your methods. While you get your credit card obligation under control, it’s a great thought to depend predominantly on great, hard trade in for the money request to pay off some of your obligations. Get a protected credit card if you have to develop your credit history. Secured credit cards work sort of like check cards.