The Fastest Fixes for Your Credit Score – Tips

Are you this close to approval for a home loan? It can be frustrating to go to so much work in your credit repair efforts but still fall just a bit short. Luckily, there are a few tactics you can use to increase your credit rating fast:

The Fastest Fixes for Your Credit Score

Go over your credit report with a fine tooth comb to ensure that there are no errors that are lowering your score. You can request copies of your report from the three major reporting agencies. This can be done free once a year or after being denied credit or for a small fee at any other time. Common errors include:

Failing to remove old negative reports. If these linger after they are resolved, they can lower your score. Contact the credit bureau to get these removed.
Failing to report increased credit limits. If the limits shown on your credit report are too low, it can look like you are maxing out a card when you are not.
Failing to show accounts that have been paid off.
Duplicate report entries. If a debt has been transferred from one creditor to another, it can sometimes appear twice on your credit report, making it look like you owe more than you do.

Contact creditors and the credit reporting agencies, in writing, to get these potential negatives fixed. There are also errors that matter less, such as outdated address or employer information. These do not negatively affect your score, so correcting them is not worth your time.

Pay Down Balances

This is one of the quickest way to increase your credit score. The ratio of available credit to balances makes up about a third of your credit score. If you are carrying a high balance on one of your cards, it can be worthwhile to dig into savings to pay it off. Experts recommend carrying a balance equal to no more than 10% of your available credit. That means, if you have a $10,000 credit limit, keep your balances under $1,000 at any given time.

Use an Old Credit Card

The age of your accounts is one of the factors that go into your credit score. Lenders like to see that you have had an account for a long time; it is a sign of stability. But, if you stop using an old card, your credit card company might close it for lack of use or stop reporting on it. If you have a credit card that you haven’t used in a few years, put one of your recurring payments like a health club or your Netflix account on it. This way, a small amount gets charged to the card each month without affecting your regular spending habits. Just remember to pay it off in full every month.

Don’t let minor credit issues hold you back from your home purchase goals. By finding the problems and correcting them, you can increase your score and get lenders to take a second look.

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Online Banking – Should I switch?

As bank fees climb ever higher, many people are looking for ways to spend a little less. One option to explore is switching over to an online-only bank. These are banks that save money by having few or no local branches. Instead, customers do all of their banking via a secure website.

These sorts of accounts can have a lot of advantages, including:

Lower fees. Most online accounts offer no-fee checking, so, you keep more of your money in your pocket. If you are in the middle of credit repair, this is money that can be applied toward settling unpaid debts.
Higher interest rates. Very few brick and mortar banks offer interest on checking accounts, while most online banks do. Online banks also typically have higher interest rates on other products like savings accounts and CDs.
Easy-to-open accounts. At most online banks, you can open new CDs or savings accounts with a few clicks of the mouse. This can be a simple way to put aside money if you are saving for a big expense like a home purchase.
Twenty-four hour a day banking. Instead of being limited to your local branch’s banking hours, you can sign on at any time day or night to do anything from opening an account to paying your bills.

A few of the possible drawbacks to consider:

Are you a tipped worker? Servers, delivery drivers, and others who are primarily paid in cash might find online banks inconvenient. Few allow cash deposits at ATMs or through the mail, so, you can get stuck mailing a money order.
It can be slow to deposit a paper check. While more and more online banks are allowing check deposits via mobile phone or home computer, this is not yet universal. If you have a poor credit rating or if the service is not available from your online bank of choice, you may have no choice but to mail checks to make a deposit.
No in-person contact. Sometimes, bank customers feel more comfortable talking in person with a branch manager, such as when working to resolve insufficient fund fees or other issues. If you have an online-only account, all communication will necessarily be via phone or email.

How to find the best online bank for you:

Check out banking review sites like Bankrate.com and MyBankTracker. These sites keep track of factors like interest rates and fees and also post user reviews.
Ask friends about their experiences. They will be able to share stories about their experiences with customer service, ease of setting up accounts and other details.
Check financial companies you already do business with. Discover, for instance, has banking products such as a cash-back checking account in addition to their credit card services.

As with any other banking decision, make a list of your requirements and find the bank that satisfies those needs best. If your lifestyle is compatible with the offerings of an online bank, you just might keep more money in your pocket by making the switch.

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Is a Credit Union Right For You? – Bigger Isn’t Always Better

With all the negative press that big banks are getting these days, a lot of people have started to wonder whether a credit union would be a better bet. The answer to that question depends a lot on your specific circumstances and what you are hoping to get out of a banking experience.

What is a Credit Union?

Credit unions are non-profit, member-owned financial organizations. Their primary objectives are to serve members best rather than to maximize profits. Members can borrow money at lower rates and often have access to fee-free productions, like no-fee checking accounts. In most cases, you need to be a member of a specific organization to join one. They can be a boon to people going through the credit repair process, as they are often more likely to approve someone for an account than for-profit banks.

The Perks of Dealing with Credit Unions

There’s a lot on the plus side of dealing with a credit union instead of a bank, including:

Lower interest rates. During your home purchase process, check out rates for mortgage loans at a credit union. Often you will find that they are lower than those at banks.
Better service. Most credit union members report much higher rates of satisfaction then customers with similar accounts at big banks do.
Lower fees. While zero-fee checking is an endangered species at regular banks, most credit unions still do their best to offer it.
More likely to approve you for financial products. Since credit union membership is often based on group membership, they are more open to providing credit cards and loans to members.

The Drawbacks of Credit Unions

But, there can be some downsides to doing all your banking at a credit union:

Fewer branches. This can mean that getting to a physical branch is less convenient. People who deal with a lot of cash, such as servers or bartenders, might find it less convenient to make deposits if the closest branch of their credit union is too far away.
Fewer services. Credit unions often lag behind their big bank rivals in features such as mobile banking or online bill payment. If you are considering a credit union, ask what features come with the account.
Lower perks. If you are looking for reward credit cards, you may be better off looking for one from a big bank. When Bankrate recently rated the top 50 credit cards that offered cash-back or other rewards, only five were ones offered by credit unions instead of banks.
Membership requirements. While there are many credit unions open to the public, many others have limitations on who can join. Some only take members of certain professions, while others are limited to alumni of certain schools or people who work for a specific employer.

When you are bank shopping, compare and contrast offerings from both local credit unions and local branches of big banks. Have a list of features and services that are important to you and see which will give you the best deal. By doing thorough research, you can find the financial services that will serve you and your family best.

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How to Get a Bank Account When You’re Listed on ChekSystems – Tips

When working on credit repair, re-establishing a checking account is an important step. A checking account is used as a basic measure of credit-worthiness. Plus, many creditors will insist on directly debiting payments while you are settling old debts, which means you’ll need the account.

If you’ve bounced checks, overdrawn accounts, or closed a checking account with a negative balance, you may get turned down when you try to open a new account. Most banks use a verification system called ChexSystems that keeps track of past negative records. But, even if you have been listed in ChexSystems, it can still be possible to open a new account.

How to Get a Bank Account When You’re Listed on ChekSystems

One of the first and most important things you can do is make sure that your ChexSystems report is accurate. Challenge any inaccurate or unfair records. Then, work toward fixing any legitimate negative marks like overdrafts. You are entitled to one copy of your report free each year.

Find a Financial Readiness Class

In many areas, there are community-based programs that can help you get a new account. Bank On is a non-profit with locations in several states that help people who are unbanked get accounts. They offer classes that many banks will accept as proof that you are ready for a second chance. Another course, CheckWi$e, provides a certification after you have completed their six-part financial readiness course.

Apply for a Second-Chance Account

There are a number of banks that offer these accounts. Most will come with higher fees and more restrictions on the account. PNC, for instance, offers a second-chance account with a $5 a month fee and a $100 daily withdrawal limit. Ask at the bank how long it will take to graduate to a regular checking account.

During the rehabilitation period, you’ll have to be very conscious of your balance and be sure not to overdraw the account. To keep track of funds, opt for a checkbook that automatically creates copies so you don’t forget a check. Write down all debit transactions and compare them daily with your bank’s online records.

Finding a Bank That Does Not Use ChexSystems

This is an alternative if you cannot find any of the resources above in your local area. It can be difficult to find them, but, there are banks that do not use ChexSystems to determine account worthiness. Ask local friends if they’ve successfully opened accounts with negative marks in their past and also research online.

It may also be possible for you to wait for negative items to expire from your ChexSystems report. Items stay on your report for five years. This is only advisable if you are close to the time limit. Going without a checking account means putting off big dreams like a home purchase and dealing with daily inconveniences like prepaid debit fees.

It can take some patience, discipline and effort, but, going through the necessary steps to regain a checking account is the first step in rebuilding your credit and expanding the range of opportunities for your future.

Fair Debt Collections Practices Act – TIPS

If it’s happened to you, you’re not alone: job loss, unexpected expenses or other issues can leave you with less-than stellar credit. But, bad credit can hold you back in a myriad of ways. It can destroy home purchase dreams, keep you from getting the job you want and cost you more when you apply for everything from cell phone contracts to credit cards.

It can take some time and involve a few headaches, but, credit repair can restore all of those lost opportunities.

As you embark on your credit repair mission, it is important to know your rights when dealing with creditors. There are a number of things that, by law, they can and cannot do. Prohibitied actions include:

Calling outside the hours of 8am to 9pm. Creditors who call earlier or later are breaking the law.
Publishing your name or address on a “bad debt” list.
Contacting you at your place of work after you have asked them not to.
Contacting you after you have sent a written request to cease communication.
Talking about your debts to a third party.
Using abusive or profane language.
Seeking unjustified amounts. This includes adding unreasonable fees and penalties to your debt.
Reporting false information on your credit record.
Threatening you with imprisonment for your debt.

There are also certain things that creditors must do when attempting to collect a debt:

They must identify themselves during all communications. It’s illegal for them to, for instance, pretend to be someone else so that you will talk to them on the phone.
They must give you written verification of a debt when you request it in writing.
They must notify you of your right to dispute a debt. This gives you the power to fight back if they are trying to hold you responsible for a debt that is not yours.

Dealing with a harrassing creditor? Take the following steps:

Keep records of everything. Write down when they contact you by phone and keep every item that they mail.
Communicate in writing. When sending a request that they stop calling your job or sending repeated communications to your home this can help ensure that you have a verifiable paper trail.
File a complaint with your state Attorney General’s office and the FTC. Your state may have its own debt collection laws that give you extra protection. The Attorney General can help you determine whether a creditor has violated state law.
If harrassment persists, you may be entitled to sue the creditor within a year of the violation. You do not have to have provable losses; the judge can order the creditor to pay you up to $1,000, plus any verifiable medical or wage losses that occur as a result of the harrassing practices.

Knowing your rights under the law can save you a lot of the stress associated with dealing with unreasonable or unethical creditors. Protect yourself as you work toward your goals and improve your financial outlook.

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90% Removed – Results!

“I had a credit problem so I went on line and found Key Credit Repair. They did a great job they worked with all three credit bureaus. They stayed on top of all my debt issues that were in question. I stayed with them for about five month’s that’s how long or short depending how you look at it took to clear up 90 percent of the items that were affecting my credit. I was very pleased with the work they did. I recommend Key Credit to anyone who needs to fix their credit problems.”

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Nik Tsoukalis, President

Key Credit Repair
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Reviews and Testimonials – BBB

We are not just your credit advisors!

Thank you so much for your kind words!

“They are Awesome! Extremely professional and I felt like I had a partner helping me, not a business. I cannot say enough about how they listened and helped me thru every step. I absolutely will recommend them to anyone having credit issues. They can truly help turn your credit around, and change your life for the better!!”

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Credit consolidation – Why it may not be needed

One of the great misconceptions with credit repair is that we consolidate debt. Credit Repair is defined by the credit repair organizations act specifically and has nothing to do with consolidating debt or reducing interest rates. Our top priority is assisting clients with the removal of unwanted, inaccurate & erroneous credit information. This process consists of writing letters challenging these negative records to all 3 credit agencies + the specific creditors. The fair credit reporting act is your #1 piece of ammunition when challenging negative data on your credit report and can be reviewed by visiting us online and clicking on our Credit Repair Law tab.

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Nikitas Tsoukalis, President

Key Credit Repair

More On Debt Consolidation

A Loan For Debt Consolidation Permits You To Pay Several Lenders With One Simple Payment Paring Down Settlements A Financial obligation consolidation funding is the production of one brand-new loan for the objective of settling all various other existing fundings as well as charge card financial obligations. A lending for debt consolidation allows you to pay several creditors with one basic settlement. A debt unification is considered a personal finance. The key function behind financial obligation combination borrowing is to lower your interest rate while supplying the debtor with a month-to-month repayment she or he can afford. It also prevents a negative affect to the debtor’s credit ranking along with keeping possessions from threat. A financial obligation unification finance could be well recommended for an individual that is having a difficult time making month-to-month repayments on existing financings that lug a higher rate of interest. The fringe benefit of debt combination is that the combination does away with the debtor’s call with the numerous financial institutions. This stops collection calls and also correspondence. Exactly what you’ll should qualify for a finance for financial obligation unification: * A written budget plan, revealing monthly’s expenses and also income. * Proof that you have a stable income adequate for the payment of the financial obligation consolidation loan. Pay short ends and/or tax forms would certainly suffice. * You may need evidence of security, such as couch equity records or vehicle title. If your credit history is not appropriate, * You might likewise require a co-signor. You could repay a variety of financial obligations and finances with a debt consolidation arrangement. Qualified costs consist of clinical, charge card, retailers, individual financings, pupil fundings or even checks returned for not enough funds. Prior to thinking about a financial obligation unification there are many elements you should evaluate. They are: * Fees engaged in consolidation. While a small charge prevails, reliable financial obligation unification firms will certainly not declare to lessen the amount of debt you owe nor will they bill you a sizable upfront payment to do so. * The unification rates of interest. Just what you want is a set price loan and a price that is less than the average price of your existing debt. * Consolidation financing repayments. You’ll wish a monthly settlement that is lower than the consolidated settlements of the present debt, although this should not be completed by any sort of substantial lengthening of the payment time. * Whether your credit history ranking will certainly be negatively had an effect on. Go in other places if the combination firm is not clear on this. As part of your financial obligation unification funding consideration you’ll intend to look realistically at your complete financial obligation, establishing specifically the amount you’ll should obtain for consolidation. You need to additionally speak to all lenders and also understand if any kind of will supply a negotiation (bearing in mind that payoff off a negotiation amount instead of total debt may negative affect your credit score.). Your next step would certainly be to take down on paper your month-to-month budget plan, consisting of all your expenditures as well as your earnings. Do not overlook to give on your own some leeway – a tiny emergency or miscellaneous expense figure. If you obtain for combination, take a great hard appearance at what you can pay for to repay. Debt consolidation benefits:. * You could save money by lowering the interest rate you are paying, which then decreases your regular monthly debt unification loan settlement. * You will just have one loan to fret about paying each month. * You’ll only have one lender to focus on, meanings that the others will not be contacting you. Debt consolidation drawbacks:. * You’re possibly going to be prolonging the time duration through which you are paying your debtors, therefore improving the overall cost with time. * You might have to provide your house or your vehicle or various other significant residential properties as security. This places them at risk should you default. A financial obligation unification financing may be well advised for an individual which is having a hard time making monthly settlements on existing fundings that lug a higher rate of interest. The added advantage of financial obligation consolidation is that the unification eliminates the debtor’s contact with the various lenders. Your next action would be to put down on paper your month-to-month budget plan, consisting of all your expenditures as well as your income. Do not forget to offer yourself some freedom – a tiny emergency or various expense amount. Take a great hard look at just what you can pay for to repay if you borrow for combination.

Honesty is the best policy!

“I would like to give key credit A+ for their honesty. I was in the market to get my credit repair and anyone i talk to was asking me to pay them 800 to 1500 to remove inquires. But when i talk to key credit they went over my credit report and advise the the problem with my credit smallImgis debt. they told me to payoff my credit cards and i will be ok. So i really like their honesty and i will recommand them to all my friends. Thank you Key Credt.”

This consumer had a POSITIVE experience with this business.

This consumer WOULD recommend the business to a friend, family member, neighbor or colleague.

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Fast Credit Repair? – Reviews

Check out this testimonial of a happy client with a fast credit repair example.

Testimonial:

“This is a great company to work with. They raised mine and my husbands credit score tremendously in just 3 short months!! I would highly recommend them to anyone that needs credit help!!”

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