How to Rent with Bad Credit

Rent is in and with the rental market reaching its best sales in the market today you may ask yourself how you could get into the trend when you have bad credit. Those who want to rent lots and properties realize the competition of occupying a certain area is very strong therefore they do all they can to convince the owner to choose them as occupants.

Agreeing with a date on when you should pay off the whole bill with your landlord can be quite tricky. Some people who really want to occupy the property would tend to agree on a 6 month pay or they would offer more than the price that the landlord is asking for.

So, how do you compete with these kinds of lenders when you have a credit that is not so good?

First, you have to be aware of your credit score info. If you keep on assuming that you have a very good credit score now only to find out that you are wrong and your liabilities are getting so high it is starting to break your life apart then that would be difficult to get back on your feet. Finding out too late is never good so always be conscious of your financials. In contrast, if you believe that your credit score is not as good then it is advisable to get a hard copy of your financial report and look at the actual statement.

Numbers are constantly changing do not just guess your credit score. You can get a free copy of your credit report at www.annualcreditreport.com and remember: credit ratings that range from 700 and above are good.

Next, always state the truth. If you are trying to get a property do not lie to your landlord about your credit score. If your landlord will be conducting a credit check tell them that they may find your score quite mediocre do not let them find out by themselves. For these kinds of information would make or break your deal.

Does Bad Credit Get in the Way of Your Love?

Settling bad credit will help a customer in saving a lot of money and also this will help in reducing the amount of interest rates for loans.Not only that it will also be your ticket to better car insurance premiums, better chances in being accepted for loans and being the most qualified man for a job opening.

Being financially troubled can be bad for your relationship. Your credit score could be inflicting a huge blow on your love life, so before you start planning for the future, it is best to first know each other’s financial status right now.

First things first, you have to have the idea of what your credit report contains. The criteria that your credit report shows are 35% is your payment history, 30% contains the amount you owed, 15% is the length of your credit history, 10% contains your new credit and the final 10% are the types of credit you have applied and qualified for.

So how do you help each other in rebuilding your credit status? You and your partner are not only partners in love but partners in financial matters as well. If you want your relationship to last then you have to take your credit scores seriously so that it will not interfere with your love life.

Credit scores are just numbers and do not clearly define everything about a person, however you should ask yourself these following questions: what does bad credit say to your employers about you? Why do you have so many outstanding bills or why was your car repossessed? Are you and your partner taking the necessary steps to rebuild your credit? If you do not start now then, when and if you will not help each other then who do you expect to look after one another?

The Difference Between Good and Bad Credit

It may sound unfair but the truth is, people with different credit standing are treated differently. For the most part, those with good credit are treated better than those with bad credit.

Individuals with good credit standing are offered store cards and credit cards without any interest on their payback. They may also be approved with car and home loans with a minimal interest of about 3%. Minimal or no interest at all translates to extra savings.

In the meantime, people with bad credit are faced with a different scenario. They are either rejected or charged with very high interest when they apply for loans or credit cards. In effect, they end up paying double the amount of their purchase.

One’s credit rating does not depend on the amount of income generated. A person with a very high income and some extra savings may still be turned down or required to pay high amounts of interest if his credit standing is not satisfactory. In the same way, someone who is not earning a lot but has an excellent credit rating may easily get a loan without making any initial payment or even paying any interest.

What all these simply means is that your credit rating is equally important than the amount of money you are making. Bear in mind that you will not be able to put your money to good use if your credit ranking is low. The worst part is, even with a high salary, you will be putting plenty of your money to waste just to afford high ticket items such as a car or a house.

Credit rating otherwise called FICO score is determined by three major credit agencies namely Experian, Equifax and Transunion. Your rating can fall within 250 to 900. Any score lower than 640 is considered fair while a rating below 600 is deemed poor. If you are aiming for good credit, obtain a score in the mid-600 or low-700. For an excellent rating, get at least a mid-700 ranking.

Need Car Insurance for Bad Credit?

Do you happened to have bad credit and was wondering how you can get your car insured? Well, fret no more, for this article will help supply you with what you need.

If you were caught in an accident and you need an insurance to cover for damages then the PLPD is for you. PLPD stands for Partial Coverage Car Insurance, this does not include the vehicle’s damage it itself.

Aside from the PLPD, there is also the Full Coverage Car Insurance which adds crash and complete damage coverage to your car. The other areas included in this contract are the actual damage that the vehicle caused to itself. If you want it to be more wallet-friendly it is available in different deductibility levels. If for example you had a $2000 worth of damage to your car and you have $500 deductibility collision policy, then you will pay $500 for the damage and the insurance will cover the rest. However if the damage is less than the deductibility cost then you will have to pay for the whole damage. If you have a high deductibility then your insurance premium will be lesser.

What do you need now? For all car loans even without auto loans, financial institutions will need full coverage car insurance. The minimum requirements will be taken care of by the company, and which kind of deductible will be up to the buyer. The company that will handle the insurance will also depend on the choice of the costumer.

According to a recent study, customer satisfaction will depend upon five factors. These are the interaction of the salesman, the price they will set, the policy offerings, billings and how they should pay for the contract, and the claims of the costumer for damages.

In the end of the day, customers should be led to the right path in finding the right company to trust for their car insurance. These companies should be perfect for the type of customer in order to properly suffice their needs and their budget.

Six Tips in Repairing Poor Credit

Having a good credit score is important because it is something that landlords, employers and lenders check to know whether or not you are trustworthy. Moreover, your credit score reflects your financial status so if you have a poor credit score, creditors will consider you a high risk and have small chances of getting a loan or opening new accounts. If you have a bad credit, the following are some tips on how you can fix your credit score.

First, pay your bills on time because this will be the biggest factor that has an effect on your credit score. Make sure that you have a budget or enough money to pay your loans or credit cards on time.

Second, consider taking on an installment loan. This will show creditors that you can manage having the two major kinds of credit, which are revolving and installment. If handled responsibly, this can help increase your credit score.

Third, consider getting a secured credit card, which limits your credit to the amount equivalent to your down payments. Use it responsibly and it will certainly improve your bad credit score.

Fourth, don’t throw away your old credit cards. If you already paid off the account, just leave it open because closed accounts usually have a negative impact on your credit score.

Fifth, check for errors in your credit report. You can get a free copy of your credit report once every year from the three credit reporting bureaus, which are Equifax, Experian, and TransUnion. Check for erroneous information that could potentially lower your credit score and if there are errors, take corrective actions.

Sixth, ask for help from a professional. Debt problems can be a little overwhelming so if you feel that you cannot manage it on your own, ask help from a credit counseling agency. They will assist in you in looking at options and also on how you can fix your credit.