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1. Those who don’t know history are doomed to repeat it.

Our nation is in chaos and the root of it all stems from good graces of man. Credit is deeply rooted into our history, it stems from a person’s or merchant’s product or service is priced too high for the average consumer. When payment from the patron for the item(s) was not convenient at the current time arrangement could be negotiated. This was the birth of the consumer credit program.

Let’s look at a typical California House priced at $395,000. The builder, in order to make a profit, needs to sell many of these homes at this price. How many of us have $395,000 to plop down in one lump sum?

If the builder only sold homes to people who could pay the lump sum, they would not sell many homes and the price would skyrocket to $3,395,000 due to the need for the builder to earn an equitable profit. On the other hand the builder would not make any profit if the homes were sold at $4000 or even $40,000.

2. What’s it going to cost you?

The homes must be sold at a price that is consistent with perceived value and quality, but still needs to make it available to the average consumer. This is the reason the mortgage business is so huge.

Let’s look at another example. This trend is deeply rooted in our history. Have you ever gone to a store and realized you didn’t have the money to purchase an item? Remember asking the store clerk to put it onto your account?

Actually you can still find this type of system where the merchant would allow the consumer a period of up to 30 days to repay the debt; when payment for the goods or services is not convenient.

3. How did this all begin

This began back in the days of the general store where a patron would come by and pick up a few items, charge them to a personal account and the patron would agree to pay the entire account by the end of the month.

4. Does this all still exist?

You can still find this type of environment but it’s gone for the most part replaced by the modern day credit card and department store card. This is a system designed with the theory that you never have to pay off the balance in full. This is called a revolving credit or charge account; pay off some, then spend it to the limit.

5. What happened to the people

This is where people get in to trouble everyday, late payments piling up, and debt occurring from interest added stress. I don’t know of anyone who wants or needs this. As an evolution of this process, it was natural that some type of credit reporting system would be created. Then suddenly the dawn of the credit bureau began.

Creditors or merchants were concerned about doing business with bad debtors; they needed a way to report problem consumers and a way to get the information about them before they established an account for them.

6. With the dawn of the credit bureau trouble had only just begun.

Now that the bureau had been born they began tracking information on individuals and businesses, selling that information to subscribers (creditors) and receiving information as well.

Late payment and other types of errors started occurring on peoples personal credit reports. After a while the errors were so bad that certain individuals were forced to go bankrupt and lose their families to divorce or worse.

People were always in a hurry and rushing to keep up with the Jones’or should I say

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Does this sound like you? Do you need help in mastering the ownership of your credit?

We can help; we have the proper solution for you. If you need a free credit report you can get one here at www.raise-my-fico-score.com/freecreditreport.html. Finding out where you stand is the 1st part of understanding your credit history. Knowing your credit history is easy especially since you know your financial situation. If you want to find out more on how to fix your credit, boost your scores and stay on the safe side of the credit barrier.

Dedicated to raising your credit scores.

Here are some of Ryan’s major achieviments.

Past President ACFA San Francisco, CA USA.
Million Dollar Club Memeber Mark Victor Hanson & Robert G. Allen Inspired
Licensed CA Real Estate Agent
Internet Entreprenuer
Certified Cash Flow Consultant
Credit Repair Specialist

Dedicated to your dreams, and fueled by desire Ryan has hit the nail on the head once again. With his break through special mini report
www.raise-my-fico-score.com

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An online search for unsecured credit cards, often brings up a plethora of credit cards handed to you by dozens of credit companies offering various types of rewards including airline miles and cash back. You name it, it’s out there. If a person has bad credit, it is tough to get an unsecured credit card. The line of credit is low and the interest rate is high and in many cases a deposit is required. After performing some research, I discovered a type of credit card that allows a person with credit problems to re-build their credit while purchasing name brand products that otherwise would be unobtainable for someone with bad credit and little cash. It is an online shopping credit card or a credit card exclusive to an online shopping mall. These types of companies offer to help consumers build their credit up by shopping for products offered at the credit company’s exclusive online mall and unlike the traditional unsecured credit cards there is no credit check. They claim that everyone qualifies and is pre-approved right from the start.

Credit increases for products are offered as long as the consumer’s payments are on time. The credit card company reports account payments to the credit bureaus each month, helping the consumer re-build their credit.

Is this type of credit card right for everyone? That depends. A high risk credit card from a bank will most likely not give the consumer a big credit line up front, not enough for a large purchase, but it is enough to help them re-establish their credit and if payments are made on time, card holders are rewarded with credit line increases. On the other hand, a catalog credit card may offer a larger amount of credit right away, but limits the consumer to purchasing products from the credit company’s online mall.

Yvette Duvall is a freelance writer on various topics including finance and health and fitness.

http://www.expressgoldcard.com

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Unfortunately your free credit report does not contain your credit score. The Fact Act does entitle consumers to obtain one free copy of their credit report each year, getting the actual credit score is not free. The government allows the consumer credit reporting agencies to charge you a fee to give you your actual credit score number. The scores determined by Experian and Trans Union are not widely used by lenders. The score provided by Equifax however is used by most lenders to determine whether or not they should lend you money and how much interest to charge you. Equifax will sell you its FICO score. It is recommended that you request and pay for this score. Once requested, the consumer credit reporting agencies will provide to you the scores and information on as many as four key factors that are negatively affecting your credit score. This will help you to know and understand what you should do to improve your credit score.

A credit score is a three digit number based on information contained in your credit report as it compares to millions of other people. This system brings your entire credit history to account into one objective number. This number is more or less a statistical prediction of how likely you are to either default or pay your bills on time in the future.

This score will determine your interest rate and if you will get a loan at all. The higher the score, the better your chances are of getting your loan approved as well as giving you a better rate of interest. On a mortgage loan this score can mean savings of many thousands of dollars in interest over the term of the loan.

The FICO score ranges between 300 and 850 and is based on the following factors:

Payment History (35% of score) Amounts Owed (30% of score) Length of Credit History (15% of score) New Credit (10% of score) Types of Credit in Use (10% of score)

This article was written by Kriss Standke who is an accomplished Webmaster and publisher of Free Credit Report Spot, Your Free Credit Reports, as well as Credit Score Resource where he provides detailed and informative articles, tips, and advice on free credit reports, how to get yours, and what to do with the information once you receive it.

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