It's called piggybacking, and like the childhood playground game, it involves getting a lift. Only with this piggyback ride, it's your credit score that gets a boost.
Critics claim it's lenders who are being taken for a ride.
Piggybacking works like this: After paying a fee, you are listed as an authorized user on someone else's credit card, someone with a healthy credit rating. You don't actually get to use the card, but the credit history of that card appears on your credit report, making it more attractive.
Internet sites that make these connections claim that this ride on someone else's credit history can raise your credit score almost instantly. Higher credit scores mean better deals and lower interest rates on loans.
You will, of course, pay for the privilege -- often thousands of dollars.
And why would the credit card holder allow you to piggyback on his or her lofty credit rating? Read the rest of the Article
Thursday, April 26, 2007
Monday, April 23, 2007
First things first..if you have bad credit, start by fixing it.
If you want a credit card, one of the easiest ways is to apply for a department store credit card. They are more likely to give you a credit card then your major issuers. HOWEVER, I do not recommend it. They have higher APR's. BUT, it can get your credit established so you can get a good Visa or Mastercard later on down the road.
Best Credit Cards- Find the best credit cards at CreditCardSearchEngine.com. Compare low interest, cash back, gas rewards, airline cards, student, business, and credit cards for bad credit. Compare and apply today!
If you want a credit card, one of the easiest ways is to apply for a department store credit card. They are more likely to give you a credit card then your major issuers. HOWEVER, I do not recommend it. They have higher APR's. BUT, it can get your credit established so you can get a good Visa or Mastercard later on down the road.
Best Credit Cards- Find the best credit cards at CreditCardSearchEngine.com. Compare low interest, cash back, gas rewards, airline cards, student, business, and credit cards for bad credit. Compare and apply today!
Thursday, April 19, 2007
Maintaining Your Credit Score
Here a few tips to maintaining a good credit score:
Cash Back Credit Cards – Earn cash back just by using your credit card. Several credit cards to choose from. Earn cash back on groceries, gas, and everything else you buy. Apply securely and safely online today!
- Don't apply for too much credit in a short amount of time.
- Only apply for credit that is obtainable. If you know you won't qualify for an American Express Card, then don't apply for it.
- Pay your bills on time!! Even if it's the minimum, always pay it on time.
- Don't max out your credit cards and don't go over the limit.
These are some important tips in keeping your credit score in good standing.
Cash Back Credit Cards – Earn cash back just by using your credit card. Several credit cards to choose from. Earn cash back on groceries, gas, and everything else you buy. Apply securely and safely online today!
Monday, April 16, 2007
Bad Credit OK?
How Many Times Have You Heard That Before? Well, bad credit isn’t ok! You see the ads everywhere – mortgage companies, car dealers, furniture stores, etc. Below I will touch on the truth that exposes these ruthless and damaging marketing tactics that usually end up hurting you more than helping you.
The goal of these companies is to get as many people walking through their doors or submitting credit applications as possible, and that’s it. They are well aware of the fact that over 90% of these bad credit consumers will never get approved for a loan; it’s the 10% that they base their ad budget on. There has never been a loan given to a person with really bad credit--the banks, lenders, and creditors just don't allow it.
What makes matters worse is that if you had bad credit when you walked in the door, and they pulled your credit reports, your credit score will probably be lower when you walk out their door. Almost every inquiry on your credit report lowers your credit score, especially those within a small time frame.
The good news is there are a few things you can do to fight back. The first thing you can do is become proactive and request your own credit reports before you begin shopping for a car, house, or any major purchase you will be financing. When you request your own credit reports your credit score is never affected; no matter how many requests you make. I also recommend that you do not order your credit reports on the internet; when you order your credit reports online, there are identity/security questions that even experienced professionals like myself have a hard time answering. The best way to order your credit reports is by phone—it takes just minutes, it’s fully automated, and you don’t have to answer any security questions.
Send an email to freeguide@loansaverpro.com to request a FREE Insider’s Guide to Ordering Your Credit Reports to learn more about ordering your reports by phone.
Once you have your credit reports, the most important thing you can do is try to have some of your negative credit items removed. I am sure many of you might think that repairing your credit yourself is next to impossible, but it’s not. Even if your results are marginal and you have only half of your negative credit items removed you will definitely see your credit score go up.
As far as results are concerned, I have seen every type of negative credit removed--30-60-90 and 120 late payments, tax liens, collections, repos, etc. Credit repair does work, and I have seen the results change the lives of thousands of people. You owe it to yourself and your family to give it at least 60 days and see what happens.
If you want to learn more about ‘Do-It-Yourself’ credit repair, I recommend visiting http://www.loansaverpro.com/. The Loan Saver Team offers a credit repair system that is used by hundreds of Mortgage Professionals to secure better loan terms for their clients, and is guaranteed to work.
Author Todd Disraeli
The goal of these companies is to get as many people walking through their doors or submitting credit applications as possible, and that’s it. They are well aware of the fact that over 90% of these bad credit consumers will never get approved for a loan; it’s the 10% that they base their ad budget on. There has never been a loan given to a person with really bad credit--the banks, lenders, and creditors just don't allow it.
What makes matters worse is that if you had bad credit when you walked in the door, and they pulled your credit reports, your credit score will probably be lower when you walk out their door. Almost every inquiry on your credit report lowers your credit score, especially those within a small time frame.
The good news is there are a few things you can do to fight back. The first thing you can do is become proactive and request your own credit reports before you begin shopping for a car, house, or any major purchase you will be financing. When you request your own credit reports your credit score is never affected; no matter how many requests you make. I also recommend that you do not order your credit reports on the internet; when you order your credit reports online, there are identity/security questions that even experienced professionals like myself have a hard time answering. The best way to order your credit reports is by phone—it takes just minutes, it’s fully automated, and you don’t have to answer any security questions.
Send an email to freeguide@loansaverpro.com to request a FREE Insider’s Guide to Ordering Your Credit Reports to learn more about ordering your reports by phone.
Once you have your credit reports, the most important thing you can do is try to have some of your negative credit items removed. I am sure many of you might think that repairing your credit yourself is next to impossible, but it’s not. Even if your results are marginal and you have only half of your negative credit items removed you will definitely see your credit score go up.
As far as results are concerned, I have seen every type of negative credit removed--30-60-90 and 120 late payments, tax liens, collections, repos, etc. Credit repair does work, and I have seen the results change the lives of thousands of people. You owe it to yourself and your family to give it at least 60 days and see what happens.
If you want to learn more about ‘Do-It-Yourself’ credit repair, I recommend visiting http://www.loansaverpro.com/. The Loan Saver Team offers a credit repair system that is used by hundreds of Mortgage Professionals to secure better loan terms for their clients, and is guaranteed to work.
Author Todd Disraeli
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