Why can’t I get approved for ANYTHING? Why is rejection becoming my middle name…..each and every time I apply for ANYTHING? Sound familiar? In this article we are going to take a quick look at some of the very simple, yet often overlooked “rules” that the credit bureaus, and grantors use for determining your credit worthiness lickity split. Care to know more? Read on as we take a closer look!
Rule #1: Your debt to limit ratio is WAY too high.
How high is too high? Anything over 50% is considered a red flag. Owe close to the limits on ALL your cards? You are going to set off firecrackers of impending financial problems for ANYONE who evaluates your credit…..even if you haven’t YET, been late at all.
Rule #2: You’ve Got Delinquencies on Your Report
Sounds obvious, right? It should….and yet, lots of people don’t realize how harmful those late payments really are. The simple truth is that there is NOTHING that is more detrimental to your score, and your ability to get credit than a history of NOT paying the bills you’ve got now. And until you deal with this issue…..or are willing to WAIT until these negatives disappear (7 years from the date of initial delinquency) your credit crisis will NOT go away.
Rule #3: Lots of recent applications for NEW credit
While this won’t necessarily hurt, or harm your score as much as the first 2 items, it CAN be equally as harmful to your ability to get approved for new accounts. Why? Because applying for tons of credit is often a pre-cursor to problems, or even…..trying to accumulate lots of stuff, or money, before filing for bankruptcy or something similar.
Simply stated…DON’T over-apply, or seem over interested in getting new credit all at once…..it’s going to HURT your score, even if your history is perfect otherwise!
Want PROOF? Click HERE to Improve Your Credit Score 90 POINTS in 90 Days……GUARANTEED!
You Deserve A Second Chance. Get it HERE!
Article Source: http://EzineArticles.com/4899064
One of the easiest ways to build a solid amount of credit for your business is by containing a low interest business credit card. Not only does it separate your business from your personal credit, but it continuously builds credit because you make a purchase and pay it off the next month. However there is a simple way you can save money for your business when looking for credit offers that work for you…..
A Low Interest Business Credit Card!
Let’s take a look at some of the different types of low APR cards:
Zero Percent Interest Cards
A 0% low interest credit card is ideal if you can find one. Normally, zero percent is an introductory special that does not last the duration of the time you have your card. Most lenders will offer 6 months or a year as 0% and then the rate will become a competitive rate to other cards. However, make sure you do your homework since the rate after the introductory period could become outrageous.
Credit Based Interest For Cards
Unfortunately, these cards do exist. Some lenders will look at your credit score before drafting up a contract for a low interest business credit card. This is especially true for banks; they are more likely to look at your score than a card company with pre-determined interest rates for their cards.
On a good note, if you have excellent credit, you can get really good interest rates when you go to apply for a card. This is just another reason why you should always be looking for ways to improve your credit rating.
General Terms For Lower Interest
A few years ago, a low interest business credit card was considered good if the interest was 9% or lower. It is rare (but not impossible) to find a low interest business credit card at that rate any longer. On the other hand, it is not difficult to find one at 11% or 12%. You have to do some research, but there are cards out there with ideal rate packages.
A small interest card is something every business owner should look into having. It helps you build solid credit for your business, as well as allows access to funding when you need it.
Looking for a low interest business credit card will still allow you those two benefits and adds a benefit of its own: SAVING you some money! Now, doesn’t that sound great?
Shawn Casey Is A Fan Of Having A Low Interest Business Credit Card [http://www.businesscreditnow.org/low-interest-business-credit-card-a-personal-favorite.html] And Wants To Share His Experience Of Owning A Business Card Here!
Article Source: http://EzineArticles.com/4899088