The 5 Factors that Affect Your Credit and How to Improve it
While being in the mortgage industry pulling dozens of credit reports monthly, I learned quickly what kind of person that was aware of their credit scores and what kind of person was not.
Below are the characteristics of both.
Below are the characteristics of both.
The Financially Smart Client
They knew their credit scores and everything on the reports. They are financially smart, well to do and owned assets. They lived well below their means despite their salaries and or net worth. They watched every penny they made and aggressively sought sales promotions and discounts instead of paying full price for anything. They paid cash as much as they could to avoid paying interest rates of any kind.
Those are just a few characteristics of the Financially Well off Client
Those are just a few characteristics of the Financially Well off Client
The J. O. B. Client
Just Over Broke Client
They do not necessarily have bad credit but many times will. They never paid attention to their credit report which meant they paid higher interest rates on cars, homes etc. They were undisciplined about finances, spending and credit in general and many times in debt.
They purchased expensive stupid things that lose its value quickly such as NEW cars. This group tries to impress their friends and family with things that will surely have them living only on social security when they retire.
They purchased expensive stupid things that lose its value quickly such as NEW cars. This group tries to impress their friends and family with things that will surely have them living only on social security when they retire.
The bottom line is J.O.B's are undisciplined about their finances
But the Financially Well Off care about every aspect of their finances even credit
The Government does not Watch Over your Credit
J.O.B’s are under the assumption that the government watches over their credit. The fact of the matter is your credit is only safe with you.
Credit agencies are not owned by the government, they are owned by publicly traded companies with real employees that make big time mistakes everyday, that will cost “YOU” literally.
Check Your Credit with the Importance of Your Bank Accounts
Credit agencies maintain files of millions of people, combine this with tens of millions of entries and what do you have, mistakes of epic proportions.
This is only one reason you must check your credit report. You must check for errors and correct information frequently and with the same importance of your bank accounts.
This is only one reason you must check your credit report. You must check for errors and correct information frequently and with the same importance of your bank accounts.
The 4 Hard Facts about Credit Reports
1. 5 out of ten people had negative information on their report.
2. Credit card companies with hold information on your credit files to stave off competition.
3. Major life events, divorce, medical issues, unemployment and identity theft are some of the main causes of bankruptcy and damaged credit.
4. Credit bureaus make mistakes posting incorrect data in over 40% of credit reports.
Whatever you do, don’t leave it up to some agency to monitor your credit
Get started on the first step to improving your credit
Step # 1 Get a copy of your credit report Its FREE
You can't begin improve your credit score until you know exactly what you need to work on. You have an option to get a copy of the three major credit bureaus. I suggest however to start with one. Important note: Most sites will try to charge a fee. But click this link below and get your report free! https://www.annualcreditreport.com/cra/index.jsp
Email and get your FREE 12 page work book.
I will start posting step-by-step instructions on what to do. Lets get started and improve your financial future TODAY. Click the link below and register TODAY.
Sign up for a free credit course today; get your credit in good standing
Credit: The 5 Factors that Affect Your Credit and How to Improve it
In progress now
May 16- May 23 , 2011
Duration: 3 Weeks
Instructor: EPluribus Massey
Fee: Free
Sponsored by BenefitUAmerica
Location site: Click Link below TODAY and Register NOW!
