The holidays are a fantastic time to indulge, but when it comes to managing credit, having a little self-restraint can really pay off. With 2013 lingering just around the corner, and more than a few consumers feeling what we’ve fondly dubbed Black Friday hangover, sitting down with a notebook and pen to jot down some… Read More
If your New Year’s resolution is to get out of credit card debt, you now have a powerful tool at your disposal: your credit card statement. Most cardholders have probably noticed by now that their credit card statements now include a warning noting how long it will take – and how much it will cost… Read More
The fourth most popular choice from our New Year’s Resolution Poll is “Improve Credit Scores” with 13% of the votes. Along with getting out of debt, preparing for a home purchase and boosting savings; working on your credit scores is an excellent goal for 2007.
The second most popular choice in our New Year’s resolution poll is about preparing for the world of real estate and mortgages. As of this morning, more than 19% of you chose “Plan for a Home Purchase” as a top resolution for 2007. And no wonder: With home prices softening and mortgage rates still very low, this is a great time to consider buying.
The key for this resolution is to simply get started! The hardest part is often just physically getting the money from your paycheck into a savings account. You can make progress on this resolution in the next 15 minutes by simply setting up an automatic withdrawal into a savings or retirement account. Or, if you already have this set up, by increasing the amounts you are contributing.
Dieting trumps debt dieting as American’s #1 New Year’s resolution by nearly 2-to-1 according to a study just out from TransUnion’s TrueCredit. Nearly four in ten Americans (37 percent) pick eating healthy or losing weight as their number one resolution for 2007, compared with 33 percent last year. Twenty-two percent choose paying down debt as the top resolution, compared with 20 percent last year.
If you are struggling with you finances, make it a goal to get out of debt, stick to a monthly spending plan or improve your credit scores. If you are managing your finances fairly well, set a goal to buy a home or rework your investments. Which resolution will you choose?
Work to get any negative information removed from your credit reports. We all have the right, as stipulated by the Fair Credit Reporting Act (FCRA), to ask that any information on our credit reports be validated for accuracy. And, any information that is incorrect, outdated or misleading must be corrected or removed from your credit reports. One of the lesser known facts is that even if something is completely accurate it still must be verifiable or it must be removed from your credit reports.
1. Strive to get your overall credit card utilization to less than 10%. Why? If you can get your utilization to less than 10% then your credit scores will thank you. Your scores will improve and any credit you apply for in 2006 will come cheaper because of it. Credit card utilization is one of the most valuable components of your credit scores. It’s almost as important as whether or not you pay your bills on time.