People desperate for credit, flood our support centers with statements like this or "I need a large amount of credit."
In todays informational blog we will talk about what you need.
First of all we have to divide people into different kinds of groups.
There are people with
1) Excellent Credit
2) Good Credit
3) Not so good credit
This keeps it simple.
No matter what group you fall in, everyone must have enough credit to offset debt. So let's talk about a controversial Presidental Candidate Donald Trump.
Trump has a lot of money right ? Does this make his credit good ? Depends on what deal you are trying to finance. Surely his name maybe a alone enough or bad depending on whether you like the guy or not.
I want to use him as an example because recently his agent called us. The broker asked for a me personally. The call went like this:
"Hello my name is, so and so and I am driving my Rolls Royce down the street. I am an agent for Mr. Trump who you met last year at a business seminar. He wanted me to call you because Mr. Trump just suffered a problem where one of his unlimited account credit cards was cancelled. He used the card at one location, then the next location it was declined. As you can imagine who he is, how embarrased he was pulling out another credit card to use. We called the credit card company and they said because of a new law (one that Mr. Obama en-acted called the credit card reduction act) credit card companies had to cut down the amount of debt. They apologized that their computer did it randomly and was unfortunate that Mr. Trump was one that was affected by this. However now he would have to re-apply for a new credit, which would be significantly lower. Can you help Mr. Trump get some credit to offset his debt?"
Now we don't have tradelines higher than $10,000 in a single amount, but we had a partner at the time that could help.
The point is this no matter what your credit is, you have to offset that debt. Your available credit must outweight your debt more than 60% So if you had $4,000 debt you need $6,000 available credit to offset this at the bare minimum. It would be better to have $14,000 available. Depending on how much your income is, because if you have a lower paying job, your debt to income ratio would be affected if you are applying for a mortgage.
So it is a balancing act, but it is always acheivable no matter what credit rating or how much debt you have.
So what is the solution ?
If you have way too much debt and you have time before getting the lending you need. We recommend first to pay your debt down. http:://www.credit-makeover.com
But if you are already applied for credit or you need something quick even before you do some credit restoration yourself or with a professional, you need credit.
http:://www.credit-makeover.com has the add some good credit option to help you.
Okay maybe you are getting close to retirement, or you are reading how bad the retirement will be, then you really need some credit and you need retirement advice. Again we can help http:://www.credit-makeover.com
Maybe you have enough credit but you are wanting to learn how to invest this credit and money you have, then we can help educate you http:://www.credit-makeover.com
We have a 12 step program that can help people at all stages of their financial life. It is smarter to get started now, so why now learn more and visit our site today ? http:://www.credit-makeover.com
We wish you the best success!