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Why authorized user accounts can hurt you - 01/03/12 12:27 PM
Authorized User accounts are NOT what they use to be. In short, I use to recommend them but not anymore because they really don’t work now. An authorized user (commonly referred to as a piggyback account) is when someone adds you as an authorized user to their credit account. Then your credit report would be updated to show that account with all it’s longstanding positive history. Sounds good right? Well it was good for years but not anymore. The new FICO scoring model has 4 (yes four) scorecards devoted to credit files with authorized user accounts. The credit system has figured … (3 comments)
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Getting new credit with bad or poor credit scores - 01/03/12 11:45 AM
Yesterday I posted about how everyone should have 3-5 open revolving credit accounts. That isn't always easy to get when you don't have a good credit score. There is a way to do it though.
One of the things I recommend you do to get good credit started is a secured credit card. A secured card works this way, you send the bank a minimum deposit of anywhere from $200 to $300. The bank then opens a savings account for you and deposits your money into it. Then you are issued a credit card with a limit matching the amount you deposited. … (0 comments)
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How to Raise Your Credit Scores! - 01/02/12 01:09 PM
Probably one of the best things you can do for raising your score is getting more credit. You want to have 3-5 revolving accounts showing on your credit report. If you don't have enough I highly recommend opening some new accounts to build your credit.
A very common misconception that people have is that as long as they remove negative information that is reporting that their score will go up. NOT TRUE! Credit scores are calculated on a number of factors, some of which include credit history, credit usage, and payment history. Since 15% of your score is based upon how … (6 comments)
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Credit Repair Success Story - 01/02/12 12:29 PM
Since there is a lot of negative thoughts out there about credit repair I wanted to take some time to show that credit repair, when done by some one who knows what they are doing, can have a great effect. I have been doing this for about 16 years now and last year had over a 70% deletion rate for my clients. Although not everything can be fixed or deleted by credit repair I like to think that I can help almost anyone raise their credit score.
Here is an example of a deletion letter that my company received on behalf of … (3 comments)
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Matt Listro Your Credit Repair Expert
East Hartford,
CT
More about me…
National Credit Fixers - Matt Listro
Address: 330 Roberts Street, Suite 402, East Hartford, CT, 06108
Office Phone: (860) 282-6181
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