Pay Off Mortgage or Invest?

Some homeowners just do not like having a mortgage and will try to pay it off as quickly as possible. Doing this could be very beneficial for some homeowners, but for some, it could be a mistake. For one thing, pouring money into your mortgage can present you with a liquidity problem. If you lose your job, or become temporarily disabled and unable to work, you may not have the ability to access your home equity. You may try to take out a home equity loan, but if you are out of work you could be denied. If it is approved, you will be adding debt while unemployed or on a fixed income. Instead of making extra mortgage payments, consider investing the extra money in more liquid options that offer growth potential or current income.

Real estate

Some shorter term and lower risk options to maintain liquidity in your cash would be; a Roth IRA, money market accounts, high yield online savings accounts, certificates of deposit, short-term bonds, or paying off higher interest debt. Combining multiple investment options while still putting extra money toward your mortgage will also be a good strategy, that way you can pay your mortgage off faster and still grow your investments, allowing you liquidity, and a shorter road to debt free living!

When balancing your debts and investments, it is important to consider multiple angles so you can find what works for you, and which options will make your money go further.

At CreditServices.com, our credit advisors will not only coach you throughout the process of repairing your credit, but also teach you valuable tactics that will provide you with a solid foundation for your future purchasing power.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

When Do Your Balances Report?

It is important to have as long of a credit history as possible, do not cancel credit cards just because they are older. Hold onto them and use them from time to time. Keep the balance low, and make the payments on time. Keeping reporting balances low means you need to know when your balance is reported.

pay

The balances appearing on your credit reports are usually based on the balance remaining at the end of your billing cycle, not on the payment due date. Go online to make a payment a few days before the end of the billing cycle so the balance reported to the credit bureaus is lower.

This is one tactic we can utilize when building your credit profile. A significant part of the value we offer at CreditServices.com is the education and knowledge that comes with having your own personal credit analyst. We also maintain a database of information that can be put to use when executing your personal Credit Guide. Our advisors know which tactics to use and when to use them, and will coach you throughout the process.

A staggering number of consumers carry high balances on high interest credit cards when they could be saving thousands on interest by keeping balances low and paying before the billing cycle end date. Those credit card users carrying higher balances however, may lack the resources to use this technique just yet. The solution: low-interest rate personal loans. Qualified borrowers are able to get easier access to competitive rates on personal loans for a variety of reasons, including refinancing high interest rate credit card debt.

Don’t Make Any More Mistakes!

You’re trying to build your credit, don’t dig yourself a deeper hole. One of the most common mistakes is making a late payment. Set up auto-pay on your credit cards for the minimum payment so you don’t forget, and make sure to set the payment before your billing cycle end date. You can always pay more, and missing a payment can be devastating.

Personal loans can be a great alternative to credit cards for two key reasons. First, it ends the debilitating cycle of credit card debt, because the loan has a finite term. In contrast, when you transfer credit card debt from one card to another, you have the temptation to keep racking up the charges. The second reason is that it can save you a lot of cash.

Just remember, once you have lowered your credit card balances, you will need to acquire new cards, or continue to use the ones you have. Be certain to use them wisely and pay at the right time to ensure your credit score is in the best possible position.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Millennials: Build Credit Now

Many millennials saw their parents hit a very rocky financial situation during the Great Recession, creating a fear of credit among the generation. Understanding the difference between credit and debt is the most important aspect of getting over this fear. Credit is a financial tool, that when used correctly can provide you with valuable purchasing power. Debt is a problem caused by the misuse of credit.

millennials credit cards

Using credit wisely is an incredibly important aspect of becoming financially successful now and in the future.

 

Your credit history is everything you have done in the past with regards to using credit. Credit history includes the amount of credit you have used, your payment habits, and if creditors have had to resort to using collections agencies or the legal system to get you to repay your debts.

When considering whether or not to lend you money, a lender will attempt to determine what the odds are that you will repay a debt. Your credit history is the best indicator they have of your credit risk. They assume that you will continue to behave in the future as you have in the past. But if you have no past use of credit, they will view you as risky because they have no record of you being willing and able to manage debt.

After establishing a credit history, you will want to make sure that your reports are reflecting accurate information to ensure that you aren’t being judged unfairly. Lenders look to your credit profile as a record of your credit history and they will likely assume that the accounts listed in your credit reports are accurate. The problem is that very often these items are inaccurate or untimely, misleading, incomplete, unverifiable, biased or unclear.

If your credit reports contain questionable negative items, you have the right to dispute them in an effort to get them corrected or removed entirely. CreditServices.com will help you make sure your profile is reporting accurately, and teach you how to build your credit. We have helped thousands of people with unfair credit reports, and we can help you too!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Credit Monitoring: The Benefits

Many consumers think credit monitoring services are only necessary for those with a troubled credit history, but that is not the case. In fact, it is just as important to use a credit monitoring service to maintain an excellent credit rating as it is to improve a poor one.

When you sign up for a credit monitoring service, you will receive important information from your major credit reports through Equifax, Experian and TransUnion. You will be able to track all of them and make sure that any information reported is accurate.

In addition to avoiding inaccurate marks on your file, you can figure out where the weak points in your profile exist and improve them going forward. Most credit monitoring services show the major factors in calculating your credit score and grade you on each of them. As a result, you can determine how to adjust your financial approach to improve your credit rating. This will impact your chances of obtaining important financing options like a car or home loan.

Credit Protection

Credit monitoring services can also help protect you from identity theft, which is increasingly important because so much of our information is stored online. Unfortunately, credit card fraud and identity theft are commonplace these days. Cyber criminals are able to hack the databases of major companies obtaining credit card information, so nobody’s information is entirely safe.

Information is power when it comes to improving your personal finances. Monitor your credit use on a regular basis and ensure that your reports are reflecting accurate information. Catching inaccuracies early allows you time to correct them, meaning they are not there to prevent you from being approved!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Ready For Car Shopping?

Your credit score influences the rates that are available to you. Most lenders will not fully review your credit profile, instead they rely mostly on your credit score and some application information.

customer and salesman with car key
transportation and ownership concept – customer and salesman with car key outside

If you have a 750+ credit score, you will receive the best interest rates available, which can sometimes be as low as 0%! However, people with major credit problems can usually be approved for auto loans, but at very high rates. The best auto loan rates are generally offered by credit unions, and online lenders, not at the dealership.

When shopping for your loans, remember that you have a 30 day window where similar inquiries will be counted as one and only drop your score 5-15 points rather than multiple inquiries that will be 5-15 points each.

Educate yourself, monitor your credit, and stay within your means to get the most out of your auto loan.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Master Credit Card Use: 3 Tips

  1. Pay Mid-Cycle

The balances appearing on your credit reports are usually based on the balance at the end of your billing cycle. Go online to make a payment a few days before the end of the billing cycle so the balance that gets reported to the credit bureaus is lower.

shopper

  1. Avoid Paying Interest

Credit Card users who do not carry balances every month and have signed up with a credit card that offers a grace period have at least 21 days from the time of purchase to pay the charge in full without accruing interest. Grace periods will not be included for balance transfers or cash advances.

  1. Increase Your Limit

Request a higher limit on your credit card to protect your credit rating. Raising the gap between your balance and limit will give you a better credit utilization ratio, which will be favorable for your credit score. Be careful with this tip though, just because the money is available doesn’t mean you should use it, simply use it as a credit building technique.

CreditServices.com credit advisors will walk you through the credit repair process, coaching you on valuable credit building techniques like these. These tips are very effective, and when advised on exactly what time to utilize these tactics in your personal Credit Guide, you will see the best results. That is why we are here, we are specialists in credit repair, and we can help you!

See what our customers have to say about us and then contact us for a free consultation today!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Strong Credit For Home Lending!

Looking to obtain lending for a home?

Strengthening your credit score is a very important step to take, the earlier you start, the earlier you will get into your new home!

While there are plenty of qualified buyers in the 580 credit score range, today’s market is looking for 640 to 660 as a minimum. These scores will get you into a house, however a FICO score of 700 to 720 will get you a better deal, and 750+ will get you the best rates on the market.

The first step in determining your standing is pulling your credit to make sure your profile is strong enough to move forward and that you aren’t being penalized for old accounts.

At CreditServices.com, our credit analysts will walk through this process with you. Analyzing your credit report and disputing accounts that are invalid is a very tedious process, and something that we excel with. We are a top 1% performing Credit Service Organization, and our past clients say it the best.

If you are looking to improve your credit for mortgage approval, the experts at CreditServices.com will help you from start to finish, and achieve industry leading results by utilizing a strong background and knowledge of the requirements of the mortgage lending industry, and the steps that need to be taken in order to meet them.

Contact us today, and qualify for the loan you deserve sooner!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Simple Credit Building Technique

It can be difficult to build credit once you have a negative credit history. Most banks won’t approve you for a loan, and creditors don’t want to give you a credit card because you are “high risk”.

One way to begin building your credit is by obtaining a secured credit card. Secured cards require a deposit, usually around $200-$300 to open. This deposit will act as your credit limit, and is a form of insurance for the bank, knowing that they at least have that amount of money in case you go delinquent on the account.

Once you have your secured card, you will need to keep your balance low to maximize the credit building power. Set your card to take auto payments from a debit account so that you will not have to think about it, and won’t risk any late payments, lowering your score even more. This tactic will build your profile in two ways: payment history, and balance to limit ratio.

This is one of many tactics that we can use to guide you to your Path To Credit Recovery. CreditServices.com is here to help motivated individuals put their bad credit in the past and get their purchasing power back!

Get motivated, set your goals, and take action!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Credit Card Offers In The Mail?

Many companies that solicit new credit card accounts use pre-screening to identify potential customers. These offers are based on information in your credit report that shows that you meet criteria set by the company offering the credit card.

Can pre-screening hurt my credit score?

No. These are marketing inquiries that do not show up on your credit report, because you are not asking for any new lending opportunities.

What about opting out?

Many people prefer not to receive these offers in the mail, especially if they are not in the market for a new credit card. Some pre-screened offers include great benefits, especially if you are in the market for a new credit card. These offers allow you to gain knowledge of the market by comparing costs, and finding what works best for you. Consider this when wondering whether to opt out or not. If you decide to opt out, your request will typically be processed within five days, but don’t expect the letters to stop immediately as it may take up to 60 days.

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.

Avoiding Bankruptcy

Life and finances can be very unexpected and difficult to manage, you may find yourself getting deeper and deeper in debt, sometimes to the point where it is impossible to meet all of your financial obligations. Debt settlement allows you an option other than declaring bankruptcy.

The goal of Debt Settlement is to get creditors to mark your debt as completely satisfied in exchange for a partial payment.

Many of our clients have seen success with our preferred debt settlement affiliate, DebtServices.com, their experienced negotiators understand lenders, and the policies and procedures that they follow. Lenders would rather receive a partial payment than none at all, which is very possible if you declare bankruptcy.

As debt negotiation specialists, DebtServices.com will work on your behalf to save you the most possible money in your debt settlement. This will allow you to get your finances back on track, improve your profile, and move toward living your life the way you want to live it.

Don’t let debt weigh you down. Take action now!

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Each person’s credit situation is unique. Results may vary, and CreditServices.com makes no guarantee of any particular result. The information in this site is intended for general informational purposes only, and is not to be construed as legal, tax, accounting, or other professional advice.  As such, it should not be used as, or relied upon, as a substitute for seeking professional legal, tax, accounting, or other advice. All information in this site is provided “as-is”, with no guarantee of completeness, accuracy, timeliness, or other results obtained from its use. In no event is CreditServices.com, its Affiliates, or their agents or employees liable to you or anyone else for any decision made or action taken in reliance on the information in this site. “Affiliate” means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control of the party in question.