Credit 
30
comments

How to Remove Unauthorized Hard Inquiries

Reader Christine recently left a comment on the What is a good credit score? post in which she asked how she could get unauthorized hard inquiries removed. For her particular case, it’s likely that she agreed to the hard inquiries when she “clicked on a link on some website that I do not even remember now and got phone calls from about 5 lenders. I had very enlightening conversations but decided not to apply.”

Whether you apply for a loan or not, when you request quotes you will have agreed to the lenders pulling your credit report. They can’t give you a rate quote without knowing your credit score and credit history. Reputable companies won’t pull your credit without your permission because it’s illegal (it violates this: Fair Credit Reporting Act, Section 1681b(c): Transactions Not Initiated by Consumer).

But there are cases where someone could make an unauthorized hard inquiry and the solution is to send a “remove inquiry letter” to the credit reporting agencies.

(Click to continue reading…)


 Credit 
158
comments

What Is A Good Credit Score?

Credit Repair SignEver wonder what a good credit score is? Of course, we all do. It’s one of the most important numbers in our adult life, whether you agree with it or not.

You can check your score at a variety of places that offer free FICO credit scores but how do you really know whether your score is good or bad? Is a 700 good? Or do you need an 800? How’s a 600?

I think it comes down to what you plan on doing with that number.

(Click to continue reading…)


 Credit 
102
comments

American Express Credit Card Limit Increase Tutorial

Regularly requesting credit limit increases, if done correctly, can increase your credit score and mitigate the effects of canceling credit cards. This post will explain how to navigate the menus of American Express’ online interface so that you can request a credit limit increase without triggering a hard credit inquiry. I have done this successfully myself several times.

(Click to continue reading…)


 Credit 
16
comments

How to Increase Your Credit Limit

If a recent Your Take post on credit card credit limits is any indication, there’s no secret to getting a higher credit limit on your card. I thought I was high with a near $70,000 credit limit but plenty of people had total unsecured credit limits in the $60,000 – $100,000 range. While it wasn’t a scientific survey, I wouldn’t surprised to read that, in general, unsecured credit limits are much higher than people expect.

That being said, I think a good way for a consumer to protect themselves from the somewhat unpredictable credit score system is by increase their credit limits as much as possible without increasing how many credit cards they have.

(Click to continue reading…)


 Credit 
41
comments

What is the Average Credit Score?

Have you ever been curious what the average credit score is?

We know that the FICO credit score range goes from 300 to 850 with a good credit score being up above 750, but what is the average credit score? Fair Isaac shares a chart that indicates the average FICO credit score is around 700, but we don’t know when chart the was updated (see the chart here).

(Click to continue reading…)


 Debt 
12
comments

The Cost of Filing for Bankruptcy

This morning I wrote about the different types of individual bankruptcy but I didn’t discuss how much they cost.

Yep, even if you don’t have any money left and want to file for bankruptcy, there are costs involved! There are costs involved because bankruptcy involves the courts and the employees of the court have to get paid! The cost of filing for bankruptcy breaks down into three types – required credit counseling, bankruptcy filing fees and attorney fees.

(Click to continue reading…)


 Business 
1
comments

Best Business Credit Cards

My friend Matt started a business and wanted to know what the best business credit card was. I’ll list what I consider the best options below but in general here’s what I look for:

  • No annual fee: If you’re a startup, you want to keep costs as low as possible until you get your revenues up. Having to pay a hundred dollars a year, as little as that sounds, is a hundred dollars you can’t put back into your business to grow it as quickly as possible. Just as I wouldn’t get a consumer credit card with an annual fee, if I was a startup I’d avoid a card with an annual fee. Fortunately there are plenty of options.
  • Rewards: I look at rewards from two angles. First, I want to get better than 1% rewards or cash back in categories that I will be spending a lot in such as office supply, advertising, etc. Second, if I’m getting points, I want to ensure the reward catalog has products I would buy with my own money. I don’t want gift cards to chain restaurants I never visit. I don’t want electronics or DVDs I can buy for cheaper online.
  • Promotional APRs: Many businesses have been built on the shoulders of consumer credit card debt. I don’t advocate going into debt to start a business, but if you’re going to then it’s best to get a credit card that will give you 0% APY for six or twelve months on your purchases or balance transfers. These offers are becoming rarer because credit card companies are reducing their risk but they still exist.
  • Don’t use your consumer credit card: You can use a consumer credit card as a business card but be sure to use it only for business expenses (even this is suspect, depends on who you ask). If you don’t properly separate the two “worlds,” then you could run into liability issues down the road. Be sure to check with a business attorney or your accountant though.


(Click to continue reading…)


 Credit 
72
comments

How To Get A Free FICO Credit Score

Your FICO credit score is increasingly becoming one of the most important numbers in your life. I’ve written about what’s in your FICO credit score as well as how to get FICO credit score estimates, but never how to get the actual three-digit FICO score calculated by one of the bureaus.

While the Fair and Accurate Credit Transaction Act (FACTA) and Fair Credit Reporting Act (FCRA) did wonders to shed light on the credit reporting industry and the data they are collecting on all of us, the light wasn’t bright enough. There is no way for you to get a free FICO credit score unless you sign up for a trial with one of the bureaus or with Fair Isaac Corporation directly.

(Click to continue reading…)


Advertising Disclosure: Bargaineering may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.
About | Contact Me | Privacy Policy/Your California Privacy Rights | Terms of Use | Press
Copyright © 2014 by www.Bargaineering.com. All rights reserved.