Tag Archives: balance

Ways to improve your credit score rating

September 18, 2019   Home Mortgage

Have you ever bothered to have a look at your credit score? Most of us are not even aware about the importance of maintaining a healthy credit score. If your credit report has a bad credit score rating it’s the time you start to improve your credit score rating.

Credit score is just a three digit number but it has a great importance especially when you’re thinking for applying a loan. Bank and money lenders check your credit score rating to judge your credit worthiness. Thus it becomes very much important to maintain a healthy credit score and report.

Improve credit score is the best way to extend credit facilities. One of the best ways to improve your credit score is credit score repair. Credit score repair can help you eliminate any bad or negative remarks in your credit report. In order to improve your credit score you can also ask for online credit reports and score that can cost you a small nominal fee. In short improving credit score means increasing your credit score.

Negative remarks require certain time to cease from your credit report. For example, bankruptcy exists for 10 years on your credit report whereas other negative remarks prevail for 7 years. Usually credit score ranges from 300-750 but average credit score lies within 600-750. In order to have good credit score a person must score above 700.

It is obvious that person with bad credit finds credit limitations whereas person with good credit has credit flexibility. Concerning the growing importance of credit in modern business one must understand his responsibility to improve it.

Below are some of the guidelines that can help you to improve your credit score.

• Pay your bills on time or on due date.
• Assure that you do not apply for credit too often. Maintain time limit to apply for credit. Too many and frequent inquiries can lower down your credit score.
• Don’t open too many unnecessary accounts. Remember a zero balance account is taken into consideration
• Assure that you open only necessary accounts.
• Any balance in the credit card must be paid completely.
• Assure that you check your credit score periodically at least once in six months.
• Try to increase or raise your credit score rating to obtain better credit.

Read More

The Lowdown on Citi Student Credit Card

September 8, 2019   Home Mortgage

Most credit cards would make it a prerequisite for applicants to have a credit history before their application can be approved. With this, students may find their choices of credit cards rather limited. However, the Citi Platinum Select Card for College Students is designed specially to meet the needs of students.

There are no annual fees incurred for this card, although the APR is higher than most other credit cards. Furthermore, the APR is based on a variable rate with the figure tied to the Prime Rate. Nonetheless, there is always the 6-months 0% APR (for balance transfers, cash advances and purchases) and a cashback reward program to fall back on.

Apart from that, the cash rebate program rewards students with up to 5% of the amount spent on purchases charged to the card. Purchases made with the Citi Student credit card at supermarkets, drugstores and participating merchant partners are eligible for a 5% cash return. Nevertheless, lower cash rebates of 1% are applicable for cash advances and check transactions.

The downside to this is that cash rebates will be issued through $50 checks with rebates for general purchases limited to $300 a year. Other attributes of the card include a 20-day interest-free grace period each month, and a minimum credit limit of $500.

Interest charges are calculated based on an average daily balance method but as always, it may not be advisable for consumers to make late payments. Accounts can be managed online and customers are given the choice to pay their bills automatically. As a safety feature, the Citi Student credit card provides an option for the card holder’s photo to be printed on the card to prevent identity theft occurrences. Ultimately, this card serves as their stepping stone for students towards building a strong credit history, which is vital for their future financial dealings. Concurrently, this would also be a great card to instill spending habits discipline in young adults.

Read More
« Older posts
Newer posts »