How to dispute credit reports, cut debt, avoid interest and create a stable financial future, in weeks, not years...

1. HOW TO RAISE YOUR CREDIT
SCORE
HOW TO GET CREDIT REPORTS, CURE REPORT PROBLEMS, REDUCE INTEREST, AND GET
LOANS
STEVE SYMES
Financial Web Publisher
IPPTS Associates
steve@prepaidcreditcardz.org
www.prepaidcreditcardz.org/

2. HOW TO RAISE YOUR
CREDIT SCORE
check your credit score. This will give
How to Raise Your you an indication whether your
Credit Score request will be approved or not and
how much interest you will have to
How to check your credit reports, cut pay. The scoring system used by all
debt, avoid high interest, get loans, three are different but all point to one
and create a better financial future, in conclusion and that is whether or not
weeks, not years... you have good or bad credit.
Introduction 4. How to Understand Your Credit
Score: Your credit score is calculated
Inside this report, you will learn: based on several factors. Thirty-five
percent of the total score is based on
your credit history. But, there is a lot
1. What it Means When People Refer more to it than that, as explained in
to Their Credit Score: A credit score this report section.
is not the amount of purchase that
you incurred with your credit card and 5. How to Improve Your Credit Score:
neither does the term refer to the It may take some bit of work until you
points that you save for every get the idea of how to improve your
purchase that you make with the credit score. However, a credit score
credit card. This is not the meaning of may be one of the most important
a credit score. Learn about it by aspects of your financial situation,
reading this first article. and in this article you will learn more
about this vital subject.
2. What Is Considered a Good Credit
Score?: What is a considered a good
Should your primary concern be to
credit score? A lot of experts say that
repay debt or to invest any extra money
you should get a score of 700 and
that you have to work with?
above so that you are able to get a
loan at a lower interest rate. Learn
Cover image: By Sludgegulper via Flickr
about this as well by reading this first
article.
DISCLAIMER: This information is
3. How to Check Your Credit Score: If provided "as is". The author, publishers
you are thinking of applying for a and marketers of this information
loan, it will be a good idea to first disclaim any loss or liability, either
2

3. directly or indirectly as a consequence
of applying the information presented #1. What it Means
herein, or in regard to the use and
application of said information. No
When People Refer
guarantee is given, either expressed or
implied, in regard to the merchantability,
to Their Credit
accuracy, or acceptability of the Score
information.
A credit score is not the amount of
purchase that you incurred with your
credit card and neither does the term
refer to the points that you save for
every purchase that you make with the
credit card. This is not the meaning of a
credit score.
Although it does involve credit per se, it
does not only refer to credit cards but to
credit in general, or in more common
terms, a loan. A credit score is the
numerical product of your credit history,
from the loans that you incurred in
college to the purchases that you make
with your credit card. All are being
recorded and filed under one credit
history that can come back and hunt
you if you are not careful.
A credit score is used by banks and
lending companies to make decisions
3

4. on your loan applications. With a not so debt for one person, they can easily
good credit score, you may get rejected reject your application.
for a loan or if you are lucky will be
given a fraction of the amount that you There are many ways to get a credit
are asking, for a higher interest rate and score. The industry standard is the
a shorter payment period. FICO score, named after its creator Fair
Isaac Corporation. FICO score is being
A credit score, you see, determines used by credit reference agencies, that
whether a person is reliable enough to will gather the materials about your
be given the money to as a loan. For credit history and then determine from
although, they will be earning from you their the credit score. Some use their
through the interest rates that they put own scoring systems that are
on the loan, banks and lending comparable with the FICO score.
companies are still cautious because
they do know that they cannot just lend The FICO credit score can now be
their money to people they don’t know if determined by purchasing it over the
able to handle money. internet through the website of credit
reference agency, Equifax. The fee is
A credit score depends on a lot of $12.95. The other two credit agencies,
factor. One of which is your reputation TransUnion and Exparian are also
as a borrower. Are you always late in selling their own score for roughly the
your payments for your credit card? Are same amount although TransUnion
you always knee deep in debt because packaged it with their credit history
you cannot seem to get around to report that people can purchase online.
paying each one until the interests were
just too high? So now you know what the meaning of
a credit score is? Let’s hope you will
Do you have maxed out credit cards? work on your own credit score.
Have you had any other credit or loan
that you have paid for or are still
paying? How many are they? Have you #2. What Is
had any problems paying for your
loans? These will figure in the credit
Considered a Good
score that you will have. Credit Score
Other considerations that make up your
What is a considered a good credit
credit score is income that you are
score? A lot of experts say that you
receiving currently. People who have
should get a score of 700 and above so
high income are generally perceived as
that you are able to get a loan at a lower
someone who can handle a loan.
interest rate.
Another factor besides the ability to pay
factor is the amount of debt that you
have. If the bank feels that it is too much
4

5. Try borrowing money from friends and
relatives. The nice part about borrowing
from people you know is that you won’t
be charged an interest fee. Just and
make sure you pay them.
Could this have been avoided? Yes if
you were able to monitor your
expenses. One of the present problems
right now here in America is the housing
crisis and if are one of those that
couldn’t pay for it anymore, this has a
Is this easy to achieve? Given that 60% significant effect on your credit score.
of Americans can do, then the answer is
yes. You just have to pay your bills and Now that you know what is considered
debts on time to avoid incurring any to be a good credit score, the question
penalties that could have a red flag on now is can you do it? This is something
your credit report. you can answer on your own but if you
need help, there are financial advisers
The reason why there are still people that you can call on to help. You will
who cannot get a good credit score is have to do your share as well by
because they have spend beyond their sticking to the map that has been
means. They are unable to resist the planned out.
temptation to use that piece of plastic in
a store thinking that they can get away
just paying the minimum requirement
monthly but the difference grows thanks
to interest.
What happens is that they encounter
late payments and are marked as
“unpaid.” This is then reflected in their
credit report which creditors will see and
will make applying for a loan difficult to
almost impossible.
If you are just a few points away from
The only solution is to clean up your act reaching 700, look at your credit report
and pay these debts. You will probably again to see if there are any errors.
have to cut down on your expenses and Chances are, there is one there that you
sell a few items. If this is not enough, can correct as long as you can prove to
work overtime if the company you work the crediting agency that this is not true.
for allows you to do so. If it doesn’t, see
if you can get a second job. Since they won’t take your word for it,
5

6. be sure to have the supporting You do that by knowing your current
documents. Never send the original and credit score and then reviewing it. Look
instead send photocopies so you still for errors and if there happens to be
have something to show later on. Once some, take the appropriate steps to fix
this is with them, an investigation will be them. You should call the credit agency
conducted. If your claims are true, then to report the error and then send the
they have no choice but to make the supporting documents by mail.
corrections on your credit score.
Never send the original copies because
The factors that are used to measure if they lose it, you have nothing left to
your credit score varies among the support your claims so send
different crediting agencies. With that photocopies.
said, there is no standard as to what is
considered to be a good credit score.
Through the years, it was just accepted
that anything above 700 is good so until
this is standardized, this is something
that everyone must hope to attain.
#3. How to Check
Your Credit Score
If you are thinking of applying for a loan,
it will be a good idea to first check your
credit score. This will give you an
indication whether your request will be
approved or not and how much interest
you will have to pay.
So how do you check your credit score?
For that, you will need to get it from a
credit agency. These three are namely
Experian, Equifax or Transunion. The next step is for the crediting agency
People can log in to their site and to conduct an investigation into the
request a copy which is absolutely free. matter. If your creditor cannot produce
anything, then the error is immediately
Your credit score could range from 350 removed from your record and a revised
to 750 points and the higher it is, the copy will be sent to you free of charge.
better. If your score is below 700, then
you need to improve on it. But if the report is correct, then you will
have to take the appropriate steps to
6

7. remove it. Your credit score may go copy from all three at the same time or
down depending on your credit history. every few months.
If you have unpaid loans or have
incurred late payments in your credit The scoring system used by all three
card, then you have to pay them. are different but all point to one
conclusion and that is whether or not
Remember that these things will be in you have good or bad credit.
your credit report for the next 7 years
while filing for bankruptcy lasts for about
ten so you can’t run from it. #4. How to
You will have to find a way to come up
Understand Your
with the money by working overtime,
cutting down on your expenses, getting
Credit Score
a second job or selling some of your
Numbers have different meanings. In
valuables. If you don’t know what to do,
school, you are given an “A” if you
it wouldn’t hurt to swallow your pride
excel in a particular subject. In the real
and ask for help as there are financial
world, a 600 or 700 could have an effect
advisers that are willing to help you go
on your ability to get a loan. This is
through this time.
called your credit score and to give you
an idea, here is an explanation.
If things are not that bad, perhaps you
can make a deal with your creditor so
this will not appear on your record thus
having no effect on your credit score.
Just make sure you stick to the bargain
because if you fail to do so, don’t
expect them to be so generous the next
time this happens.
A year later, you can request for a new
copy of your credit report to see if the
steps you have taken have paid off. If
you see a significant improvement
versus the year before, you know you
are doing something right and you
won’t have a problem anymore
applying for a loan.
Checking your credit score is something
people should do regularly by getting a
copy from a crediting agency. There are
three to choose from and you can get a
7

8. The credit score is an indicator that tells that you are piling up your debt.
lenders if you will be able to pay the
amount that will be loaned to you. The The last ten percent is based on the
scale goes from 340 to 750 and the types of credit you currently have. This
higher it is, the less risk the lending includes the number of loans and
institution is taking because they know credits that are available to you. This
you will be able to pay for it with weighs heavily when you are just
interest. establishing your credit history.
If your score is below 700, you can still There is no actual passing or failing
apply for loan but expect to pay at a mark when it comes to your credit
higher interest rate as this is the only report. However, creditors have
way that the lending institution can be designated 700 to be the ideal credit
sure you will be able to pay them back. score you should get. Sixty percent of
Americans are able to achieve this so it
Your credit score is calculated based on shouldn’t be that hard for other people.
several factors. Thirty-five percent of the
total score is based on your credit But if you are one of those that are not
history. You could get a perfect score able to reach it, you can still improve on
here or have a few deductions if ever your score. If you have outstanding
you have had any late payments or debt, pay for it. If these are credit cards,
bankruptcies. The more recent it is, the make sure that this is paid on time.
greater the deduction.
Thirty percent is based on outstanding
debt. This may come from car or home
loans, credit cards bills and utilities. If
you use your credit, make sure you only
use 25% of the limit or less so it does
not have effect on your credit score.
Fifteen percent of the credit score
comes from the length of time that you
have had credit. The longer you have it,
the better because this will give
creditors an idea of your consumer
behavior.
Ten percent of the score is from the
number of inquiries you have made in
the past. The trick here is not to have
many inquiries. Those who do inquire
frequently give creditors the impressions
8

9. If you are having a hard time, try to borrowing habits and behavior based on
negotiate with the lender so an some important credit factors. A formula
arrangement can be made and this developed by the Fair Isaac Corporation
doesn’t have to appear anymore on (FICO) is usually used to calculate for
your record. one's credit score. That is why your
credit score is also usually referred to as
Now that the credit score has been the FICO score.
explained, you will now be able to
interpret what those three digit numbers When you have a low credit score, it
mean when you get a copy of your tells the lender straight away that you
credit report. Aside from looking at the are not a very prospect as a borrower.
total score, review each item carefully This may be based on your previous
so that if there are any errors, this can credit accounts from which you may
be reported and corrected. have defaulted on, late payments of
debts, bankruptcy or foreclosure issues
The credit score also changes annually that you may have in the past and other
so don’t forget to get one a new one the similar factors. The higher your credit
following year. score, the more attractive you are as a
borrower in the eyes of the lenders. This
might mean that your credit application
#5. How to Improve from them might just be easier to
approve.
Your Credit Score
There are many ways that you may be
It may take some bit of work until you able to improve on your credit score.
get the idea of how to improve your This will include having a closer look at
credit score. A credit score may be one your current credit standing. If you do
of the most important aspects of your have outstanding credit to take care of,
financial situation that would need your it would be good to pay your bills on
constant monitoring, especially if you time. Delinquent payments of your
always have the need to borrow money outstanding credit have a major
from lenders. Having a low credit score negative impact on your credit score. It
will ensure you of having trouble getting is also important to note that the longer
your credit application approved as you that you try to pay your bills on time, the
would have wanted. better it will be for your credit score.
Your credit score tells lenders of how
dependable you are as a borrower.
From your credit score, lenders and
credit institutions may be able to gauge
your standing as a borrower. That is
because the credit score is a
mathematical measure of a person's
9

10. your credit score better over time.
Once you learn how to improve your
credit score, the better your chances will
be on availing of a much needed loan or
mortgage when you really need it. It
would be frustrating for one to apply for
some much needed credit and not get
approved in the end, all because of a
low credit score.
Improving your credit score can also
assure you that you have better credit
options especially during times that you
might need it most.
Keep in mind that very rarely do you
have to rush to a decision. Take your
time and make choices that will
benefit you both in the short term
If you do find yourself missing on some and for your future. Ultimately, it's up
payments, it may be wise to get current to you to decide how you want to spend
as quickly as possible on your payments your money. Follow these tips to help
if you so can. Staying current with your you make a decision you'll be happy
outstanding credit accounts may also with.
have an effect on your credit score.
What's more, your credit record, along
with the missed or delinquent payments,
may reflect on your credit report and will Wrapping up...
stay there for a period of seven years. It
will be looked upon as a smudge on In this report, we've shown you:
your report even after you have paid off
your debt.
What it means when people refer to
If you find yourself having a hard time their credit score
managing your outstanding credit, it
may be time that you contact your You found out using our text, what is
creditors or ask for the help of a considered a good credit score.
qualified credit counselor. These actions
We explained how to check your
may not immediately improve your own
credit score: if you are thinking of
credit score. But the sooner you act in
applying for a loan, it will be a good
managing your debts well and paying
idea to first check your credit score.
your bills on time. It will eventually make
10

11. This will give you an indication
whether your request will be
approved or not and how much
interest you will have to pay. The
scoring system used by all three are
different but all point to one
conclusion and that is whether or not
you have good or bad credit.
We discussed how to understand
your credit score, once you get it.
According to Chris, a leading "DIY
We gave you tips on how to improve Finance" Expert in the US, and owner of
your credit score: and in this article the popular website 37 Days to Clean
you will learn more about this vital Credit, the answer is yes!
subject.
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