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Did You Know The Importance Of Asking Whats My Credit Score?
Are you finding that banks have gone from practically giving more credit to folks whether they could afford to pay it back or not, to not sanctioning credit for anyone. There should be a happy medium but as yet the banks and Visa card corporations don't look to have found it. Add to the fact that the different credit rating companies all work out your score a touch differently and the finance companies do it another way again, it's no surprise to discover how easily people get confused.
So what's a good credit score?
If feasible you should be aiming towards the 700 to 800 level as the higher your number the simpler it's going to be to have future credit and the lower your rate. The majority of folks would have no issue scoring this 2 years back but now the goal posts have been moved.
Banks are far more likely to inspect your file and they get nervous if they see too many recent searches as it suggests you may have tried to get finance from other places. They also get nervous if your existing credit agreements have not been well maintained. Delinquent payments or an outstanding balance raise massive red flags.
You should always check your yearly credit history to be certain all the information held on file is true. If there are mistakes, you could have them corrected. You can see if you have got any old accounts that are still active but you thought had been closed. We may clear the balance on a card but forget to cancel the account. Go carefully through all your open accounts and dump the ones you never use anymore.
Don't make an application for more credit till you've got your current arrangements totally under your control. Try and scale back the balances notable. If you have made regular payments on all your commitments, then contact each bank to see if they are going to offer you a better rate. The lower the charges you are paying, the further your money will go and you'll get out of debt faster.
You must also put complete focus on paying back only 1 card keeping the minimum monthly payments going on the others. You can either pick the card with the highest rate of interest and pay all further cash into this one. This is the sensible option as you may cut back your overall charges. But often we might have a little balance on a card - if we get this one cleared we have scored a little victory in our skirmish against debt which may spur us on to great accomplishments.
Chloe Lowther is the editor of revealmycreditscore.com and a certified finance planner. Knowing the solution to the query why is my credit score so important hasn't ever been more important. See why now and get the best advice if you have debt issues.
Cedit Card APR?
Hi everyone,
I'm new to credit card world and I am wondering about APR or interest rates, i'm sort of confused..
for example if the APR is of 8% that percentage would be charged per 100 dollars of every purchase, or per how much? (You're probably saying "well ask a bank specialist" yes, its true, but I would like to get an idea of what I'm doing because sometimes when you're oblivious to things, people can confuse you into things you can regret later.)
Thanks. 
The APR is the interest rate charged over the entire year, so if you charged $100 on your credit card and carried the balance, you would be charged $8 over the entire year or about $0.75 per month.
That's not the perfect math, but you get the idea.
An 8% APR is pretty decent.
Check out my source for some 0% APR credit cards, which allow you to make purchases with no interest for up to 12 months or longer.
There's bunch of other info on there about how to take advantage of credit cards as well.
Lower Credit Cards, Cedit Card Debt Settle / Settlement
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