credit repair: 7 Habits to build a great credit score.
- 07/09/15 02:16 PM
Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, but it takes responsible financial choices with money, credit, and debt to achieve that. As FICO scores range from 300-850, with 680 considered good and above 720 excellent, it’s important to understand these seven habits that will increase your credit score and improve your finances over time. 1. Get your financial house in order. The first step to building a great credit score is setting correct habits with the rest of your finances. Document what you spend every month, eliminate the … (2 comments)
credit repair: Men are from Mars, but women have better credit scores.
- 05/22/15 09:06 AM
ents When it comes to men and women, which sex can claim top honors for their credit scores? A recent study by the credit bureau Experian revealed some interesting differences about men and women when it comes to managing their credit and knowledge about how scores and reporting work, and it may not be what you expected. Making lending or credit decisions based on gender is illegal in the United States, so few bother to collect data and do comprehensive studies. But Experian bucked that trend by pulling the data on credit scores, average debt, utilization ratios, mortgage amounts and mortgage delinquencies … (2 comments)
credit repair: Does the average person really understand credit?
- 07/11/14 11:16 PM
Does the average person really understand credit? I came across this info graphic today and wanted to share it with you. It illustrates the need for education and a better understanding of credit and credit scoring. Blue Water Credit is happy to help! In a random survey of 1,000 Americans: 20% of respondents admitted their knowledge of credit score was poor. 71% failed to answer a question about how companies and service providers use credit score. Only 59% of Americans consider themselves to be highly knowledgeable about personal finance. The majority of those polled agree there should be a ban on an employer’s right to … (4 comments)
credit repair: Educating the public about the Credit Repair Organizations Act.
- 07/11/14 11:14 PM
Educating the public about the Credit Repair Organizations Act. While most credit repair companies work hard to provide a valuable service to their clients, there are still some who over promise and under deliver, or even commit fraud. Like any industry (and particular the real estate/mortgage/and financial sector during the Boom years) it’s important that consumers know their rights and the laws in place to protect them. Today, we will educate you about one particular law, the Credit Repair Organizations Act. This statute, first signed by President Bill Clinton on September 30, 1996, ratifies into law legislation drafted to clean up … (1 comments)
credit repair: The frightening truth about identity theft.
- 05/17/14 03:38 PM
Let me paint you a picture. You’re sitting at Starbucks and pull up your laptop and log in with their Wi-Fi to check email. BOOM! Your bank account information was just stolen.
Or you get a few credit card offers and other junk mail you don’t want so you rip it in half and throw it in the trash. POW! Someone just took out 5 credit cards in your name and maxed them.
Even scarier, you just go to your local store and buy a pair of jeans. SHAZAM! Just by that act, they record sensitive financial information in their database – … (0 comments)
credit repair: 10 Strategies to give your credit score a quick boost.
- 04/29/14 02:20 PM
Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, and it can take a lifetime of responsible financial choices to achieve that. But there are things you can do in the short term to boost your credit score. These aren’t magic tricks or secret techniques but legal and ethical credit restoration tactics that are at any consumer’s disposal to give their credit score a quick jump. Remember that every person’s credit history and report is different so we recommend checking in with Blue Water Credit first … (1 comments)
credit repair: What makes Blue Water Credit different?
- 04/29/14 02:17 PM
Your credit score is more important than ever these days, whether you’re trying to buy a home, save money on your car loans or credit cards, or just trying to clean up your finances. You have a lot of choices who to work with to help raise your credit score, but Blue Water Credit would love the chance to earn your business and your trust. We’re a national credit restoration company that works with clients and creditors to improve credit profiles by challenging questionable, inaccurate, outdated, misleading and or unverifiable data on consumer credit reports. Here’s why Blue Water Credit is different … (0 comments)
We all try to keep on top of our bills, but every once and a while there’s a bump in the road and we might miss a payment. Unfortunately, a 30-day late payment will report on your credit report and lower your score. How much will your FICO drop? There are a lot of factors that go into it, which we’ll go over here.
First off, if you realize you’re late on a payment call your bank or lender immediately. It may not be too late to salvage the situation and keep the late reporting off of your … (0 comments)
credit repair: How many credit reporting agencies are there? Hint: It's not 3!
- 03/27/14 01:22 AM
If we asked most Americans how many credit bureaus there were, their answer would almost always be, “three.” A good number of people could probably even name them as Experian, Equifax, and Transunion, and feel proud of their knowledge of the credit industry. But very few people realize that there are actually a multitude of credit bureaus reporting your every mortgage, credit card, and occasional late payment, more than 35+ lesser-known ones at last count. Why are there so many? Some of them replicate the scoring models and functionality of the big three, while others serve specific esoteric niches in the financial … (2 comments)
credit repair: Ask the experts: The top 5 questions about credit score.
- 03/05/14 02:57 PM
Why are credit scores so confusing? Credit scores may seem confusing but once you understand what it is and what parties are involved the role they play, it all becomes clear. Your credit score shows your history of using credit, including accounts you have opened and closed, credit limits, payment history amounts owed, and defaults. A credit score is tallied based on these factors and more, so your credit history determines your credit score. Your credit score is determined by an algorithm developed by the Fair Issue Corporation (hence its other name of FICO score). Three corporations, called “credit bureaus”, specialize in … (0 comments)
credit repair: Answering your important questions about credit repair.
- 02/17/14 08:14 AM
What is credit repair? Credit repair is the process of trying to improve your credit score. Lenders use your credit report and credit score in order to judge your reliability as a loan candidate. Your credit report indicates your ability to handle debt responsibly and will help banks decide if you are a desirable loan customer, so cleaning up negative and inaccurate items will raise that score and help you save money. How is your credit score computed? Your credit score is determined by an algorithm developed by the Fair Issue Corporation (hence its other name of FICO score). Three corporations, … (0 comments)
credit repair: 10 Urban myths about credit score debunked.
- 01/30/14 04:51 PM
Did you know that if you drink Coca Cola and eat Pop Rocks at the same time, your stomach will explode? It happened to Little Mikey – you know, “Mikey likes it” from the old Life cereal commercials?
And that if you play the Beatles album “Helter Skelter” backward you’ll hear messages from the devil? (On a related note, I tried listening to Britney Spear’s latest album forward and it sounded like the devil.)
Or, how about this one…there was this family who drove down into Mexico for their family vacation and found a cute little scraggily street dog and took … (1 comments)
credit repair: Is a person's credit score a major factor when dating?
- 01/14/14 11:45 AM
He’s over 5’5” tall, holds the door, is photogenic, has good hair, and doesn’t call you “Dude,” while high-fiving you - everything you always wanted in a man. She’s pretty without caking on the makeup, is way smarter than you, laughs at your bad jokes, and lies to you that she likes sports – your dream girl. The first date goes wonderfully, the conversation effortless, and before you know it you’re the last two customers at Applebee's splitting a double fudge alamode brownie. Date number two and especially number three (wink!) are even better, and you’re certain you found the love of your life … (0 comments)
credit repair: Will paying off/closing credit cards help or hurt your credit score?
- 10/26/13 11:35 PM
When it comes to managing your use of credit to keep a good score, one of the biggest sources of confusion is about closing tradelines. Many people have old or unused credit cards, bank cards, or other lines, and often inadvertently close or cancel them, thinking it will help their credit score. Most of the time they actually end up hurting their credit score. Let me explain why: First off, I completely understand people’s thinking when they close an unused or old credit card. Common sense would dictate they’re doing something financial responsible by paying a debt down to 0$ and closing it out, … (0 comments)
credit repair: What credit score gets you the best interest rate on your mortgage?
- 10/26/13 11:34 PM
What credit score do you need to get the absolute best interest rates for a mortgage? That’s the question the Zillow mortgage division set out to answer with its recent survey. To come to the conclusion, the Zillow survey factored in data from 13 million loan quotes and 225,000 purchase loan requests from September of this year. They then compared that data to a similar study they did in 2010 to evaluate trends in credit and mortgage. Their findings showed that to get the best home loan interest rate, consumers need a credit score of 740 or better (out of a possible … (0 comments)
credit repair: What day of the month do creditors report to the bureaus?
- 10/26/13 11:33 PM
We get questions from consumers about their credit scores all the time, but this one just came across my desk and was important enough to share. I was asked, “What day of the month do creditors report to the credit bureaus?” Let me shed some light on this question: The short answer is: “It depends.” But generally, it takes about 30 days for creditor's information to register with the three big credit reporting agencies, (CRAs): Experian, Equifax and TransUnion. Many lenders report your information every single day, but that doesn't mean it will show up on your account with … (2 comments)
credit repair: Fixing a Short Sale That Misreports as a Foreclosure.
- 07/17/13 09:56 PM
It’s estimated that almost 1.5 million homeowners have gone through a short sale in the last 5 years, yet many of those are reporting incorrectly on their credit reports as foreclosures. The difference between a short sale or a foreclosure reported on a credit report can cost a borrower valuable time, money, and delay their entry back into the housing market.
How prevalent is the problem? Well consider that here in the Sacramento area more than 1 in 3 homes that sold in those 5 years were short sales, the number of former homeowners trying to rebuild their credit is gigantic. In 2012 … (0 comments)
1. You don’t need to pay to see your credit report.
Most of us have been charged to pull our credit report at some time, or go onto one of those “free” sites, only to be hit with a $15 hidden fee to see the full report. But according to the Fair and Accurate Credit Transactions Act (the FACT Act), you are eligible to receive a free copy of your credit report once each year from each of the three major credit bureaus by going to annualcreditreport.com. This will show your credit history, not your score, … (0 comments)
There is a powerful new ally in the battle against online fraud and identity theft – social media. Even the credit bureaus are using this tool to research the credit-worthiness and validity of consumers, alongside companies like EBay, Paypal, and Intuit. Equifax and Experian are running trials to see if social media posts can help dissuade fraud, verify identities, and even see if consumers are lying about their financial situation.
Every day hundreds of millions, if not billions, of people use social media sites like Facebook, Pinterest, Twitter, etc. to share sensitive personal information through user profiles, public postings, and … (2 comments)
Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, but it takes responsible financial choices with money, credit, and debt to achieve that. As FICO scores range from 300-850, with 680 considered good and above 720 excellent, it’s important to understand these seven habits that will increase your credit score and improve your finances over time. 
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