Financial Planning For the Future » credit score http://www.5guineas.com Financial Perspective Tue, 10 Aug 2010 00:18:33 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 No Checking Account Pay Day Loans http://www.5guineas.com/125/no-checking-account-pay-day-loans http://www.5guineas.com/125/no-checking-account-pay-day-loans#comments Thu, 25 Feb 2010 08:13:05 +0000 Admin http://www.5guineas.com/?p=125 Contrary to wide spread belief pay day loans are no longer requiring a checking account. As long as you have a verified income and can repay the loaned amount then you qualify to apply for a loan. But before applying a day loan it is a wise thing to do to verify and check whether it is beneficial to your end and how much it cost you to repay the loaned amount but regardless of the consequences it is still important that you will pay what is due the following day. This gives idea to lending company to boost their profit in terms of lending. The loan becomes popular that most of the time people will be tend to use them when they needed it most.

Criterion in applying a pay day loan; first you need to have a high verified income. The loan proceeds will depend on your capacity to repay the loaned amount. It is essential that you use the loaned amount according to your needs and what is it that is priority. The loaned amount is not an income generating money rather than a money that you need to repay on the next pay day. Most people apply for a pay day loan for fast money that they’ll need as soon as possible. Any pay day loan that is overlooked and not paid will eventually becomes another trouble in the near future. So spend it wisely and sensibly for one mistake will make a troublesome credit score.

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]]> http://www.5guineas.com/125/no-checking-account-pay-day-loans/feed 0 How to Improve Your Credit Score http://www.5guineas.com/14/how-to-improve-your-credit-score http://www.5guineas.com/14/how-to-improve-your-credit-score#comments Tue, 25 Aug 2009 09:46:48 +0000 Admin http://www.5guineas.com/?p=14 A good credit score is important when you apply for a home mortgage, car purchase or any other type of loan. Creditors need to be satisfied that it is not very risky to lend you money. Credit scores help to determine whether you will pay back the loan in time. A high score will make your position more stable in the market. But it needs persistent effort from your side to improve your credit scores. And in order to do this, you have to pay off your debts and dispute negative information about yourself. There are 5 main ways of improving your credit score.

• Payment history – Always make it a point to pay your bills on time. If you have not paid any past bills, then do so now. Negotiate with your creditors to keep the details of your unpaid bills away from the credit report.
• Debt – See that the credit card balance is not high. Also let your accounts which are not used remain so because when the balance is zero, it adds to your credit score. At the same time, don’t open any more accounts. See that your debt-to-credit-limit ratios remain low.
• Credit history – You can set your credit score right over a long period of time. Don’t make the mistake of opening too many accounts simultaneously because it portrays you in bad light and will have a negative impact on your credit scores.
• Types of credit – You can get credit cards along with installment loans and loans with fixed payments which if used wisely will enhance your scores. Don’t overdo it as it will not help you. If you close your account also, it will not help your scoring.
• New Credit – If your attempt to acquire a single loan sparks off several credit inquiries, then pull them closely together. The same is the case with opening several new accounts at the same time. Don’t do anything which will allow the credit scoring software to track you and lower your credit scores.

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