Credit Made EZ
When you get in the habit of paying off your credit cards every month,
your life will be extremely simple and stress free. The last major
factor in determining your credit score is types of credit.
Do you know what the different types of credit are major vs. minor.
Let’s make this a no brainer.
American Express, Discover, Master Card and Visa
Department Store Charge Cards (JC Penny’s, Macy’s, Target)
Retail Installment Contracts (Seminars, Home Depot, Lowe’s)
Recreational Vehicle Loans
When it comes to your credit report you must have a strong
knowledge of your personal situation. The scoring system is not built
with your best interests in mind.
Over 79% OF CREDIT REPORTS IN THE USA CONTAIN ERRORS!
That’s a lot of problems for a lot of people. I highly recommend using
a credit monitoring service to assist you with these times of identity
theft and crimes against the unknowing consumer.
Now for the good stuff, your score in the banks eyes shows how
responsible of a bill payer you are. Just think that one small number
makes all of the difference between a good deal and a great one.
That same number can keep you from getting health care insurance,
or a job, auto insurance & pretty soon who knows what is will control.
I do know for a fact that the Fico system is being changed.
The Canadian’s are adopting our current system and we are coming
out with a new one to try to stabilize the score variances. I see credit
report sometimes with a 40-70 point variance between the 3 scores.
(I feel sorry for them)