Tricks For Improving Your Credit Score
When you bring your accounts current or the bankruptcy is discharged, you can start re-establishing your credit score. Here are three tips to help get you going:
Credit Insuring
Consider insuring your credit so you can get finance when you need to buy a car. No matter how bad your credit is, automobile dealerships can arrange financing by selling you repossession insurance. It works just like any other vehicle purchase: You make a down payment and agree to make payments on the balance of the purchase price. In addition, you pay premiums to an insurance company that will cover the lender's loss if the car is repossessed. Repossession insurance is expensive, but it is one sure way to obtain a vehicle loan and re-establish your credit. If you can get a loan by other means without paying such insurance you can always do so, but sometimes this is the only way.
Getting Account Overdraft
Apply for an overdraft line of credit on your checking account. A little-known credit repair tip is to start with your own bank. Most consumer banks will provide a line of credit for your checking account. It is often called overdraft protection because it is designed to cover bounced checks.
What you can do is write a check for more than the amount available in your account. For example, if your overdraft protection limit is $300 and you have $25 in your checking account, you can write a check for $50. When the check is presented to the bank for collection, the bank credits your checking account with $100. Since you have overdraft protection, the check is not returned for insufficient funds, and you won't be penalized.
After the check is paid, you have a balance of $75 in your account. The bank bills you monthly for the $75. You can repay the money all at once, or make minimum payments every month. If you make monthly payments, the bank will charge interest and a service fee. Banks often report this activity to credit bureaus. And timely payments of debt actually improve your credit score rather than lowering it.
Join a Health Club
It may sound ridiculous but you can get in shape and re-establish credit! Actually you can join any kind of club that meets the following requirement: Clubs that require annual membership fees do arrange financing. The club is probably working with a bank or finance company, so find out who is extending the credit and whether they report payment activity.
Credit Insuring
Consider insuring your credit so you can get finance when you need to buy a car. No matter how bad your credit is, automobile dealerships can arrange financing by selling you repossession insurance. It works just like any other vehicle purchase: You make a down payment and agree to make payments on the balance of the purchase price. In addition, you pay premiums to an insurance company that will cover the lender's loss if the car is repossessed. Repossession insurance is expensive, but it is one sure way to obtain a vehicle loan and re-establish your credit. If you can get a loan by other means without paying such insurance you can always do so, but sometimes this is the only way.
Getting Account Overdraft
Apply for an overdraft line of credit on your checking account. A little-known credit repair tip is to start with your own bank. Most consumer banks will provide a line of credit for your checking account. It is often called overdraft protection because it is designed to cover bounced checks.
What you can do is write a check for more than the amount available in your account. For example, if your overdraft protection limit is $300 and you have $25 in your checking account, you can write a check for $50. When the check is presented to the bank for collection, the bank credits your checking account with $100. Since you have overdraft protection, the check is not returned for insufficient funds, and you won't be penalized.
After the check is paid, you have a balance of $75 in your account. The bank bills you monthly for the $75. You can repay the money all at once, or make minimum payments every month. If you make monthly payments, the bank will charge interest and a service fee. Banks often report this activity to credit bureaus. And timely payments of debt actually improve your credit score rather than lowering it.
Join a Health Club
It may sound ridiculous but you can get in shape and re-establish credit! Actually you can join any kind of club that meets the following requirement: Clubs that require annual membership fees do arrange financing. The club is probably working with a bank or finance company, so find out who is extending the credit and whether they report payment activity.
When you bring your accounts current or the bankruptcy is discharged, you can start re-establishing your credit score. Here are three tips to help get you going:
Credit Insuring
Consider insuring your credit so you can get finance when you need to buy a car. No matter how bad your credit is, automobile dealerships can arrange financing by selling you repossession insurance. It works just like any other vehicle purchase: You make a down payment and agree to make payments on the balance of the purchase price. In addition, you pay premiums to an insurance company that will cover the lender's loss if the car is repossessed. Repossession insurance is expensive, but it is one sure way to obtain a vehicle loan and re-establish your credit. If you can get a loan by other means without paying such insurance you can always do so, but sometimes this is the only way.
Getting Account Overdraft
Apply for an overdraft line of credit on your checking account. A little-known credit repair tip is to start with your own bank. Most consumer banks will provide a line of credit for your checking account. It is often called overdraft protection because it is designed to cover bounced checks.
What you can do is write a check for more than the amount available in your account. For example, if your overdraft protection limit is $300 and you have $25 in your checking account, you can write a check for $50. When the check is presented to the bank for collection, the bank credits your checking account with $100. Since you have overdraft protection, the check is not returned for insufficient funds, and you won't be penalized.
After the check is paid, you have a balance of $75 in your account. The bank bills you monthly for the $75. You can repay the money all at once, or make minimum payments every month. If you make monthly payments, the bank will charge interest and a service fee. Banks often report this activity to credit bureaus. And timely payments of debt actually improve your credit score rather than lowering it.
Join a Health Club
It may sound ridiculous but you can get in shape and re-establish credit! Actually you can join any kind of club that meets the following requirement: Clubs that require annual membership fees do arrange financing. The club is probably working with a bank or finance company, so find out who is extending the credit and whether they report payment activity.
Credit Insuring
Consider insuring your credit so you can get finance when you need to buy a car. No matter how bad your credit is, automobile dealerships can arrange financing by selling you repossession insurance. It works just like any other vehicle purchase: You make a down payment and agree to make payments on the balance of the purchase price. In addition, you pay premiums to an insurance company that will cover the lender's loss if the car is repossessed. Repossession insurance is expensive, but it is one sure way to obtain a vehicle loan and re-establish your credit. If you can get a loan by other means without paying such insurance you can always do so, but sometimes this is the only way.
Getting Account Overdraft
Apply for an overdraft line of credit on your checking account. A little-known credit repair tip is to start with your own bank. Most consumer banks will provide a line of credit for your checking account. It is often called overdraft protection because it is designed to cover bounced checks.
What you can do is write a check for more than the amount available in your account. For example, if your overdraft protection limit is $300 and you have $25 in your checking account, you can write a check for $50. When the check is presented to the bank for collection, the bank credits your checking account with $100. Since you have overdraft protection, the check is not returned for insufficient funds, and you won't be penalized.
After the check is paid, you have a balance of $75 in your account. The bank bills you monthly for the $75. You can repay the money all at once, or make minimum payments every month. If you make monthly payments, the bank will charge interest and a service fee. Banks often report this activity to credit bureaus. And timely payments of debt actually improve your credit score rather than lowering it.
Join a Health Club
It may sound ridiculous but you can get in shape and re-establish credit! Actually you can join any kind of club that meets the following requirement: Clubs that require annual membership fees do arrange financing. The club is probably working with a bank or finance company, so find out who is extending the credit and whether they report payment activity.
posted by zzzzzzzzzzz at
2:54 AM
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