Free consumer advice site launched by credit card industry to protect shoppersWritten by Richard Green
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Other help given by site includes details on how credit cards work, what happens during application procedures, advice on responsible use of credit cards, and what to do if you find yourself in trouble with debt. What site doesn’t attempt is to look at specific cards to compare rates and benefits, therefore consumers will still need to consult tables in newspapers or financial comparison websites such as Moneynet, if they are to make truly informed decisions. These days there are so many sources of information available which quickly enable financial products to be judged side by side that there is no real excuse for consumers to suffer from exorbitant rates of interest or inferior services, but public needs to take an interest in their own finances if they are not going to be taken for a ride. Resources: Credit card advice - choosingandusing.com Credit card comparisons - Moneynet Released by http://www.bigmouthmedia.com ******************* Notes for editors: About bigmouthmedia Bigmouthmedia is European leader in search engine marketing. The Edinburgh based company has offices in London and Madrid. The company is headed up by Steve Leach, Heather Luscombe and Lyndsay Menzies. Clients include Sony PlayStation, Bank of Scotland, Marks and Spencer, British Airways, Sony Ericsson, King Sturge, Laura Ashley and MTV. Further information: E-mail: info@bigmouthmedia.com, Telephone: 0845 130 0022 Website: http://www.bigmouthmedia.com.
Richard works in Edinburgh for http://www.bigmouthmedia.com, occasionally writing for the personal finance blog Cashzilla, and wonders why lisp is so difficult for sufferers to say.
| | Credit Report – How Your Credit Score is DeterminedWritten by Charles Essmeier
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or her loans on time will obtain highest scores.
Another third of score is determined by current debts, and ratio of debt to amount of available credit. Keeping all of your credit cards at or near their limits will hurt this portion of score. This seems obvious; those who are already near their credit limits may have trouble paying back any future loans.
The remaining third of credit score is determined by three factors – length of credit history, recent credit applications, and types of overall credit in individual’s credit history. The length of credit history is most significant item, as lenders are more suspicious of borrowers who have not established a pattern of borrowing and repaying loans. A history of repaid loans goes a long way towards fortifying this portion of score. Recent credit applications, particularly a lot of them, may suggest that individual is desperate to borrow more money and may have a financial problem. Similarly, types of credit demonstrate spending patterns and reliability. A credit report containing all credit cards may be seen as more risky than one with a few credit cards, a repaid auto loan and an ongoing mortgage.
By seeing how a credit score is compiled, consumers can take action to keep their scores healthy. A good score helps borrower obtain loans at better interest rates, and that is something that everyone can appreciate.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity lending .
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