Cash Is No Longer King: Stockholm Homeless Now Take Plastic

We’ve been hearing about the “cashless society” for years, a time when paychecks are replaced by ACH and you swipe a card or even scan your phone to pay for everything from your morning paper to nighttime drinks. But, in the states at least, there are still plenty of times that you need cash on hand. Many small shops still don’t take plastic, and you are likely to find that cab drivers, farmers markets and others aren’t ready to take anything except folding money.

But, in Europe, many people have transitioned entirely to virtual transactions. And, members of Stockholm’s homeless population have learned to adjust. Many of the city’s homeless support themselves selling a local culture magazine called Situation Stockholm. The publication covers local celebrities and can be purchased for 50 kronor (about $8). Sellers keep half the money they earn selling the magazine. But, with a little less than 3% of transactions in Sweden being made with cash, very few Swedes carry coins or bills anymore, which made it hard for Situation sellers to get a sale.

To combat this, magazine sellers are now carrying mobile card readers. Experts at the magazine suggest that the switch could increase sales by 20% or more. Many people in Sweden believe that the country will soon be the first truly cashless society.

Going cashless has a number of benefits, but also some serious drawbacks. When you go plastic, you get to enjoy a few perks:

  • instant records of all transactions so you know where your money goes.
  • protection against theft. With debit and credit cards, you are usually only responsible for up to $50 of unauthorized charges if you report the irregularity immediately.
  • bonuses like points and cash back. Many people choose to put every transaction possible on a rewards credit card so that they can get reap these perks.

But, there are also some downsides to trading paper for plastic:

  • you need to be much more careful about your spending. People who pull out the plastic can spend up to 30% more than those who use cash.
  • you can get hit with a lot of fees. Gas stations often charge a small premium for using credit instead of cash. Many credit cards come with annual fees. And, if you are rebuilding and need to use prepaid debit cards, those can have everything from monthly fees to charges for using the card.

In the end, the most savvy shoppers will keep a combination of cash, debit cards from a free checking account and at least one credit card with no annual fee. By having all of those available, you can pick and choose in each situation which option works best for you.

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.

For more information on professional credit restoration services you can reach out to us monday through friday between 9am and 8pm.

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“I was referred to Nick by a very   good friend of mine to help me clean  my  credit because I needed to  get approved for mortgage. Nick and  his team worked diligently to make  sure that they did everything possible to eliminate as many negative elements as they could. My credit score has approved big time since I started working with them. It went from high 500s to 700s. I am very happy with the result. I recommend this company to everybody who wants to improve their credit.”

More on How To Legally Repair Your Credit

The best ways to Boost Your Credit report Record Legitimately If you have a history of late repayments, accounts payable, or accounts sent out for collection, your credit rating document will certainly suffer. A bad credit record offers you a low credit history and makes it tough for you to obtain required credit history or financings for factors you truly need. Your credit rating past history Many every little thing you finish with credit, both good and bad, is reported to a credit history reporting company. A past history of paying late, or not paying whatsoever, is sent out to credit rating reporting agencies. Liens, personal bankruptcies and also judgments additionally discover their means to your credit history guide as well as hurt your credit ranking The good news is that good info is additionally sent out to credit report reporting companies. To monitor your credit rating standing, you ought to review your credit rating record anyway as soon as annually. You can remedy errors as well as clean up any wrong info that might be on your guide. Assessment your credit history record and also proper mistakes. Ways to boost your credit report ranking. Right here are some of the most effective means to enhance your credit report rating: Late repayments really injure your credit history standing. It is best to pay the whole equilibrium on your credit history cards each month. Do not review your credit line. Some credit cards allow you to look at your credit line. They often bill you extra in fines for doing so. Along with paying penalties, examining the limit hurts your credit history. It mentions to companies that obtain your credit rating guide that you aren’t observing the limits of your account. If you don’t surpass your credit limit, you will not need to pay penalties. This permits you to pay your balance down quicker. Cancel some of your bank card. Having lots of credit cards can injure your credit report. When you get brand-new credit history, the business checks your credit history record. One of the important things they try to find is the amount of your combined credit limits are as well as the amount of you owe. As you get closer to your credit line, your credit history goes down. Securing great deals of credit cards lowers your credit score. One bank card and also a department store or fuel credit card is all you really require. Cancel the others. Offer straight with lenders. Some companies (financial institutions) you owe cash to could want to take negative details they stated off of your credit rating guide if you pay some or every one of the cash you owe them. Financial institutions have to state settlements you make, however they are not needed to take unfavorable info off your report unless they agree to do so. You will certainly have to consult with each creditor separately to view just what, if anything, they are willing to do. Obtain their promise in writing before you pay if a creditor concurs to take information off of your record in exchange for full or component payment. If you pay the balance, even without an agreement, they must upgrade your credit history report to mirror a paid-in-full status. If you discharged debts in personal bankruptcy, those items could still be included in your credit record. Avoid Scams Credit repair work business promise to enhance your credit report. They might likewise assure to obtain you a credit or a lending card. They lead you to believe that they have unique means to obtain adverse details off your credit report. They do not. Credit rating repair companies have no special powers to improve your credit history. There is absolutely nothing they can do for you that you can not on your own. Paying them leaves you less money to pay your previous debts as well as present expenses. Rigorous regulations were passed to manage their activities considering that of the issues with credit history maintenance and repair companies. They should provide a written contract that you could cancel within 5 days. They can not call for settlement ahead of time and all guaranteed services have to be completed in 90 days. They should additionally register with the Division of Justice and also submit a $100,000 bond with the Assistant of State. Understand that very few credit history maintenance and repair companies adhere to the law. Many every little thing you do with credit history, both great and also bad, is stated to a credit reporting company. Bankruptcies, liens and also judgments additionally discover their means to your credit guide as well as hurt your credit score To keep track of your credit history standing, you ought to access your credit history record at the very least once each year. Some credit report cards enable you to go over your credit report limit. When you apply for new credit report, the company checks your credit rating guide.

Credit Repair Reviews – Check out the latest

I was referred to *** and his company from a client of mine and all I can say is “WOW!”. Everything said about this company is true! They are outstanding. I have been using them since the end of February and in just this short amount of time, They have gotten a majority of derogatory files off my credit report and my FICO score has reached ***! Take it from me, my credit was in rough shape with debt and a foreclosure and all sorts of bad marks down in the low ***’s. I would highly recommend this service to anyone not knowing where to turn to improve bad credit! Unreal customer service and quick turn around time! Thank you! Check out our Better Business Bureau reviews for an unbiased review of Key Credit Repair.

BBB Review 6.18.13 – Reviews

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“I am very satisfied with the service I received from Key Credit Repair. My credit report history has been completely cleaned within 3 months. I had incorrect and old accounts information with the 3 main credit bureaus that needed to be reviewed or removed. The personal involvement of Nikitas Tsoukalis (the owner of this business, I assume) and all his team since the very beginning of the process has been essential for me to feel comfortable and put all my trust in this credit repair provider. That trust has been kept and even progressively improved along the process. I have always received good/relevant information, and experienced fast support/replies. This is a secure and very serious way to conduct businesses. I strongly recommend it. Thanks so much for your help!!!”

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More Tip on How To Fix Your Credit

Repair Your Credit rating By Adhering to These Simple tip

Bad credit rating does not take place overnight; it takes a while for the missed settlements to pile up. So when they do accumulate and also you’re left with a bad credit rating, it can take some time to sort everything out. Utilize this guidance to take care of your situation as well as make inroads right into the trouble.

A crucial suggestion to consider when functioning to mend your credit is to ensure that you just acquire choices that you REQUIRED. This is exceptionally vital because it is really simple to buy products that either make us feel comfy or far better concerning ourselves. If it will aid you reach your goal, re-evaluate your scenario and also ask yourself before every investment.

It is a bad idea to intimidate credit rating companies that you are attempting to negotiate with. You might be angry, however just make risks if you manage to back them up. Make certain to behave in a collective manner when you’re handling the debt collection agency and also creditors so you can negotiate with them.

You can evaluate your credit history guide for free of cost annually from the 3 credit agencies. Having the wrong information on your credit report can ruin your rating, or cause you to be rejected for a lending.

It is important to have 2 major credit card accounts open as well as reflected on your credit history guide. These accounts need to likewise have all the available credit history still on the cards. Having 2 significant charge card shows partnerships with Credit-card business, and as a result, without these relationships or with more than 2, you are considered a credit rating danger.

If you are struggling to make the repayments on your existing home loan, think about considering the option of funding modification. In a lot of cases a lender might have the ability to lower the interest rate that you had actually initially settled on. This process made use of to be just for houses that were in risk of repossession yet several lending institutions are now extending this solution to many others.

The better your credit report is the better prices you are getting from your insurance policy company. Pay your bills punctually each month and your credit score will increase. Decrease the amount of money that you owe on your charge account as well as it will increase even more and also your costs will decrease.

If you do not recognize why you have bad credit, there could be errors on your report. Get in touch with an expert who will be able to recognize these errors as well as officially fix your credit report record. Make certain to take action as soon as you believe a mistake on your record.

The globe provides little compassion for folks who have bad credit, that’s why it’s so essential that you take the necessary action to repair your credit report as soon as possible. Make use of the information you discovered right here to repair your credit score completely as well as get out of debt altogether.

An important pointer to think about when working to fix your credit is to be sure that you just get things that you NEED. It is a bad suggestion to threaten credit history companies that you are trying to function out a bargain with. You can access your credit history guide for totally free yearly from the three credit bureaus. It is crucial to have two major credit report card accounts open and also reflected on your credit record. Having 2 major credit rating cards shows relationships with Credit-card companies, and also consequently, without these relationships or with more compared to 2, you are watched as a credit report threat.