When I was 19 I had horrible credit. I had trouble renting an apartment and later buying a house. Flash forward just a few years later. I was buying a car and the salesman said, “Did you realize that you are in the top 3% of credit scores?” How did things change for me so drastically? Let me tell you my secrets.
Improving your score is very possible. Like proper sun, good soil and the right amount of water for a dying plant, you will need patience and discipline for your credit score.
Please don’t look for the easy way out of this. Don’t look for your rich uncle Stanley to give you a $3,000 gift. It is your debt. It is your responsibility. One way
Read full post…
Credit, Credit Basics
People are carrying less credit-card debt, and fewer card users are delinquent on their payments, separate surveys indicate.According to consumer-issues magazine Consumer Reports, the proportion of people with more than $10,000 in credit card debt fell from 30 percent last year to 23 percent of people today.The median balance of American cardholders is on the decline, too. Cardholders surveyed by Consumer Reports in July had a median debt load of $3,793; in 2009, that figure was $1,100 higher.And, the American Banking Association says, the delinquency rate among bank-card users is falling.
Read full post…
Credit, Responsible Credit
In one of the more interesting bank stories of the new century, investment bank Goldman Sachs and renowned investor Warren Buffett want to buy $3 billion worth of federal tax credits from Fannie Mae, the government-owned mortgage finance company.
Government regulators are unsure of the fairness of such a deal because the tax credits would reduce the federal income taxes owed by Goldman Sachs and Warren Buffett.
Fannie Mae, however, could use the $3 billion.
Read full post…
Credit, Fannie Mae, Tax Credit
