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Your
Cutting-Edge credit card company Resource
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Bank/Credit Reviews & Reports |
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Resources
Choosing a Business Credit Card
By Jeremy Biberdorf
Does your business pay too much for its credit card? Too many businesses just settle for a basic credit card from their local bank. Those businesses end up paying too much interest or high annual Read more...
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Resources
Poor Credit Could Cost You a Good Job
By Charles Essmeier
Most people who live in the United States have some sort of credit history. Nearly everyone with whom you do business - utility companies, credit card companies, banks and credit unions report the Read more...
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Resources
How Can I Repair My Credit Report?
By john cena
There are a number of legal and effective credit repair techniques that have been used by individuals and credit repair companies to improve credit scores. Number one is removing negative items from Read more...
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an accounting entry acknowledging income or capital items
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#Welcome to
i-prosper.org/Bank/Credit Reviews & Reports - your comprehensive credit card company
resource.
Below, you'll find extensive information
on leading credit card company articles and products to help you on your
way to success.
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Credit Reports and Credit Scores
By Tim Day
Credit is something almost everyone of use will take advantage of at some point in our lives. Whether it be in the form of a card, a loan or mortgage, is becoming increasingly more difficult to avoid. There are however a great many people that have never had and for some this is out of choice and for others it’ simply a case of never having been old enough to get it!
We may well all know one or two people that have never had a card out of choice but even many of them will probably have signed a agreement for something at some point in their lives. The bulk of the population that has never had any form of whatsoever are those below the age of 18.
Despite their being a large number of people that have never had credit, everyone can still be ‘credit scored’. Principally a score is an assessment of an individual’s eligibility for credit. People are assessed on a number of factors that determine if they will be able to adhere to the terms of an agreement set by the company providing the credit.
One of the key factors that can affect an individuals ‘credit worthiness’ is them being present on the electoral role. This indicates that a person has legally declared who they are and where they live. Essentially this means you are who you say you are.
Also a person’s previous ability to manage a bank or building society account with regular incoming and outgoing payments or direct debits can be especially helpful when requesting from the same bank at which the well managed account is held.
Another important factor can be someone’s previous ability to manage responsibly. If a person has repaid in the past according to the repayment terms set by a previous agreement this will be visible on their report. This however doesn’t help people trying to apply for for the first time and can in some cases present a problem.
Someone who has never had before may be required to accept a higher rate of interest until such time as they can be proven to manage the responsibly. This is not so much as a penalty for never having had before but more of a crash course into the world of responsible borrowing. Making regular repayments on time is a very strong indication to a company considering providing to a consumer that they are more likely to honour the terms of an agreement than someone who has failed to meet the terms of a previous agreement.
People considering applying for can obtain a copy of their current report
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Here are some more quality articles in several
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and determine for themselves if they have a good ‘credit score’. People that have been refused for whatever reason may wish to review a copy of their report to find out why it is they have been turned down.
The two most widely used referencing agencies in the UK are CreditExpert (Experian) (www.creditexpert.co.uk) and Equifax (www.equifax.co.uk). People wishing to obtain a copy of their report can apply directly to either of these organisations and request their individual report. Both of these agencies provide an online service whereby consumers can enter a few basic details and view their report instantly. Both also offer tips and guides to help you understand the information within your report.
Credit reports can provide details of any agreements you are currently contracted to such as cards, loans, mortgages or car finance. Details of your payment history are also available that can show you when or if you have missed any payments. The information in a report can also be used to highlight anything out of the ordinary and help resolve disputes.
Written by Tim Day for creditmarket.co.uk a UK personal finance directory including information and resources relating to credit reports. credit reports article submission service has been provided by Rcplinks.com team.
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