Reader Question – Does canceling a secured credit card effect crdit score?
Its QA time again. This one comes from Avacodo who is asking
If you start out with a secured credit card to build credit and you get your credit build up, and you are approved for a unsecured credit card. is it better for your credit score to cancel the secured card or should you keep it because its your oldest card?
Answer: 1. Ask if current CC company if they are willing to unsecure it (if you already have an acceptance offer for another CC, it may even be worth to mention that to them)2. If yes great. Also ask for a credit limit increase.3. If no keep it. Let it sit with a very small monthly balance. Use it to buy gas and food, small stuff. Accept the new unsecured credit card, establish it with 2 years of clean repayment history.4.
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Best Credit Monitoring Service
To find the best credit monitoring service, compare options for cost, effectiveness and overall ease of use. Each of the three nationwide credit bureaus offer this credit monitoring for a monthly fee. Credit monitoring is also available through independent companies.
Credit monitoring services provide consumers access to their credit reports on an ongoing basis for a monthly fee. The service sends an alert to you, usually through email, informing you of a change in your report. This may be a negative or a positive change. When you see the alert, you can log into your account and learn what changed.
- Use this service to monitor usage of your accounts to ensure you are the only one using your personal information.
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Inside Our Credit Repair Services
Choosing a credit repair advocate can be tricky. With all the options available and promises of second-to-none service, it’s difficult to know who to trust. If you are searching for credit repair services based on results, look no further. Lexington Law’s proven track record has helped over a half-million clients remove millions of negative items. Still not ready to sign up? Take a moment to review what is included when you engage the law firm.
Upon enrolling in the Concord Premier service level, we provide you the attention you deserve. In addition to receiving free phone and email contact with our attorneys and paralegals, we offer comprehensive online access as well. Aft
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The Power of Debt Validation and Credit Repair
During the process of credit repair, you may encounter a call (or several) from a debt collector trying to collect on a debt you may not be familiar with or you are not ready to deal with the present time. A powerful and effective tool for dealing with such a scenario is to request a debt validation letter. Making this request is within your right and also protects you from a potentially fraudulent scenario.
What is a Debt Validation?
Debt validation is a legal process which is part of the Fair Debt Collection Practices Act. Debt validation is a request made by a consumer to the creditor asking for proof that the collection agent making content has been assigned to collect the debt.
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Annual credit report- Utilize good credit report to avail fund! Posted By : Johnty Bert
Annual credit report- Utilize good credit report to avail fund! – By: Johnty Bert
Most of people in US are stumbled with financial hurdles because their lifestyle is so lavish. It is also fact that you find millions of people who need immediate cash help but they have bad credit scores. Those people who have bad credit scores are mostly rejected by online lenders due to their past credit history. If you have clean credit report then you can easily avail for annual credit report scheme without any hurdles. This financial scheme is especially crafted for people with good credit reports.
For applying annual credit report scheme you need to fulfill some requirements that include:
You must be a permanent resident of US.
You must attain above 18 years of age. Read more…
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Store Cards vs. Regular Credit Cards
Would you like to save 10 percent on your purchase today? Surely youve been asked this question more than once before and you know exactly what the cashier means. She wants you to open up a credit card with her store in exchange for an immediate discount.
But what is a store-branded card? It must be a credit card, because you get an access to a credit line, but it feels different, because you can only use it at the stores of the particular retailer whose logo it displays. And above all, is opening up such an account worth the discount? Well, in order to answer this question, we should first learn exactly what this type of card is.
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Top 3 Secured Credit Cards That Rebuild Credit
Did you know that not all secured credit cards report to all three major credit agencies? 
Whether you are looking to rebuild credit after bankruptcy or recover from past credit problems taking the time to understand the process is just as important as the process itself.
If you truly want to make the most positive impact to your credit reports then you should avoid high risk lenders at all costs no matter how enticing their secured credit card offers are.
In the long run using high risk lenders like First Premier Bank for example can ultimately hurt your credit scores rather than improve it simply because the issuer is known for extending credit to high risk individuals.
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Small Business Prepaid Cards
Small business owners face many obstacles, regardless of whether theyre preparing for a grand opening or are celebrating their tenth year in business. There are unique positions that these business owners must balance in order to grow at healthier paces while also remaining profitable.
For instance, a small business must have access to lines of credit; however, according to the Small Business Administration, those that are able to avoid going into debt are the ones that will survive tough economic times, such as those weve experienced the past three years in the U.S.
These businesses must also determine where theyll acquire their credit lines.
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