5 Things How Credit Report Rating Can Save You From Fictitious CreditsWritten by Khali S.
5 Things How Credit Report Rating Can Save You From Fictitious Credits Let us see bigger picture why there is a stirring need to check our credit report rating. To know creditworthiness of an individual, lenders rely on credit report scoring or FICO scores. Credit report rating involves a predicative value that conveys to lender whether said individual can pay on time stipulated. A credit report must be regularly checked in order for an individual as well as his lenders to have a good grasp of his credit report rating. A credit report rating is a rating made by authorized credit agencies that signifies a person's credit history. It is an integral part of contracting a mortgage or personal loan, whether it's a home mortgage loan, business loan, commercial loan, refinance or debt consolidation. Why is there a need to check it? Here are vital points why checking credit rating information is indispensable. 1.Credit reports acquaint people with credit history of an individual, thus, neglect in checking it may mean obtaining new credit by giving holder bad credit. If you have neglected your bills, defaults, mortgage inquiries and likes, you can have access to them through your credit report. 2.Another factor is to avoid identity theft and bad credit report rating. Identity theft is an insidious crime which involves a person who assumes true holder's name without latter's knowledge in order to open new accounts, switch card statements and contract bad debts. Identity theft can put to risk your ability to obtain potential credit.
| | Credit Card Tips: How to combine credit cards to earn maximum cash rebates?Written by Nick Lian
Before we look at how to best combine cash rebate credit cards to maximize cash rebates you can earn, it is very important to understand different types of cash rebate credit cards available and also how type of purchases you make is defined and segmented in this market.Types of Cash Rebate Credit Cards The first type of cash back credit card is what we call "basic no-frills" cash rebate credit card. These pay standard 1% cash rebate on your spending. The second type is what we call "everyday purchase" cash rebate credit card. They pay more than 1% rebate on "everyday purchases", which in most cases is defined as purchases made at standalone supermarkets, drugstores and gas stations (Discount outlets are excluded). They will pay 1% rebate on "other purchases". Then there are "tiered rebate" cash back credit cards. These cards pay more than 1% on all purchases after your annual spending exceeds a certain amount. Some credit cards require that you carry a balance to earn "maximum rebates". Spending below threshold level will earn less than 1% rebates. Some tiered rebate credit cards also pay different rebates for "everyday purchases" and "other purchases". Understanding "Everyday Purchases" and "Other Purchases" The key to maximizing rebates you can earn from cash back credit cards is to realize that your spending can be split into "everyday purchases" and "other purchases". Just to recap, "everyday purchases" in most cases is defined as purchases at standalone supermarkets, gas stations and drugstores (discount stores are excluded). If you have just a basic, no-frills cash rebate credit card, all you can earn is 1% rebate. You can improve this by getting a "everyday purchase" cash rebate credit card and earn more than 1% on your "everyday purchases". Many people do not like tiered rebate cash back credit cards because of its complicated tiered rebate formula. You have to spend above a certain amount to earn maximum rebates. In some cases, you have to carry a balance to earn maximum rebates. However, tiered rebate credit cards have something that neither a "basic no-frills" or "everyday purchase" cash back credit card has. It allows you to earn more than 1% rebate on "other purchases".
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