Understanding Your Credit ScoreWritten by Jeremy Zongker
When you apply for credit one of first things almost all credit officers do is check your credit score. Although not all of those officers explained to us what a credit score is, we are all rated according to it and offers we receive were all dependent on that score. This is why understanding your credit score is of utmost importance, and for future reference at least basic knowledge should be acquired. In following paragraphs we will tackle understanding your credit score, realizing what your credit score means and analyzing what you can do to improve it.
Credit score is actually computed as an average of several elements from your credit report. This report is typically broken into five different sections and each of these sheets will represent a piece of final score. Each category of credit report information occupies a certain percentage in final score. To begin with, it is essential to say that highest percentage is taken by category made up of credit and payment history. An issuer will look at all types of payments: credit card payments, retail accounts, installment loans and so on. He or she will particularly look at number of delayed or not paid payments, time passed since last skipped payment, number of problematic accounts as compared to accounts in good standing.
The next thing taken into account when computing score is total amount owed. These amounts are looked at in their absolute value and also in proportion to credit limit. The number of accounts with balances is also relevant. The third thing issuers analyze is credit history, or how much credit you’ve had and for how long. Understanding your credit score is essential to you and you need to know that length of all credit lines and their activity will be monitored and will matter significantly in final credit score. Also, remember that all scores take into consideration recent credit activity. This category includes number of credit inquiries, new opened accounts, their amount, time since they were opened and of course reestablishment of credit history if there were any issues in past. Last, even if many people do not regard it as important type-element is also significant - that means that type of credit line you have (credit card, installment, mortgage) also plays a role (about 10% of final score) in computing your credit score. You also need to understand that your credit financial report is basis of computing your score. Each of above mentioned elements is specific to every one of us, and as such if for some people amount owed is major factor for others credit history is essential, therefore it is impossible to give exact percentages as to how much an element weighs in final credit score.
Taking A Trip Without Breaking The BankWritten by Nicole Soltau
Early planning is first step in getting best deal for a vacation. As soon as plans for vacation are in place, research needs to be done as to finding best possible deals. Utilizing Internet, travel agents, and personal research can provide an assortment of offers, allowing choice of best deal for your own personal situation.
Package deals are often offered through websites and agents, allowing for savings in purchasing airfare, hotel, and attraction arrangements all at once. There are as many different websites and agents as there are offers out there, and consideration needs to be made in variety of offers available. Again early planning is valuable as there might be offers that come and go over time before trip is to happen and offers can change often, if not daily.
Hotel and flight arrangements can also be achieved at a lower discount through a traveler's employer as well. Many large companies offer special deals with certain hotels and airlines for their employees. Speaking to your HR office or management team can provide deals that you might have not know about.