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Lower credit score?
How is it that you can actually get a lower credit score when you feel like your spending habits have gotten better? Learn why your credit scores might have dropped since you last checked them by using this informative infographic below:
In summary, here are 5 solid reasons your credit score may have recently dropped:
1. 30 plus days late on payments
2. Credit Card balances exceed 30% total
3. Closing an old account
4. Too many Credit Card Inquiries
5. Identity Theft may have racked up debt without you knowing.
If this seems overwhelming to you, it’s important to call a credit repair company such as Nationwide Credit Clearing
Our Family of Experts is Ready To Get You Back To Healthy Credit
LET US HELP YOU SOLVE YOUR CREDIT TROUBLE (773) 862-7700
Nationwide Credit Clearing, the home of the Free Credit report and Consultation.
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
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Set yourself on the path to Financial Freedom: Mistakes can be corrected
We all make mistakes, especially regarding our credit and money management. Below you will find some ideas on how to rectify past financial sins you may or may not have made. It’s never too late.
Nobody’s flawless – especially when it comes to money management. There’s a pretty good chance that by now, you have control of your current finances, however, most of us have made some serious mistakes when we were younger. We have never had an owners manual on how to manage money, so chances are you have made some serious mistakes while you were younger or perhaps in college. Those previous mistakes can and will come back to haunt you today in many ways. Nationwide Credit Clearing recommends that you face your money issues head-on as well as make up for those wrong doings before being able to move on in the future..
LOOK WHAT’S GOING ON
When confronted with past financial faults, it’s easy to turn your head and hope that they disappear. But when you must pay back your money or fall behind on loans, creditors are still looking to get a way to get paid. This will definitely affect your ability, long term, to gain new credit and have financial freedom moving forward. Nationwide Credit Clearing recommends that you collect all of your records & go through them thoroughly, to allow yourself to see the bigger picture of which mistakes you have made and which ones can actually be corrected..
DEVISE A PLAN
As soon as you know where your situation stands as of now, it’s a great time to also create a plan to remove incorrect information from your credit report, as well as pay back past creditors. This is not going to be easy, but if it is important to you, we recommend that you make the time. Consider your plan as you would a project given to you at work. Focus on the plan, then look forward to the outcome.
START WITH THE BASICS
We don’t recommend that you use your savings to pay off old debt. Actually, starting with small debts – old credit cards for example – will allow you get rid of some of your smaller mistakes as well as help give you a sense of achievement. Start with the ones you can manage and control. This way, you’ll have leg room and information when it comes to time to repair your credit.
NEVER GIVE UP
Once you make progress on some of your little money issues, it will then be important to take the correct measures. The first thing you can and should do is get an accurate and up to date credit report. Nationwide Credit Clearing offers a service that provides anyone with an absolutely free, no credit card required credit report and consultation. Once we evaluate your current financial situation, we can then move forward and help you with a plan.
In conclusion, Now that you know more about how to rectify past financial sins, there’s no time like the present to get your free credit report and score.
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
What impact do late payments have on your Credit Score?
Making late payments on your, mortgage, credit cards or loans will affect your overall credit health as well as hurt your credit score. Regardless of how late you pay, even one day late will count against you. Generally speaking, if your bills are not paid on or before the due date, this could affect you in the long haul.
Late Payments: How they Affect Your Credit
Banks as well as issuers consider the history of your payments especially after evaluating your overall credit risk & deciding if they should or should not approve you for the loan. A lengthy history of payments (on-time ) demonstrates that you are a reliable & responsible borrower.
However, a lengthy history of late payments will suggest that you are not qualified nor responsible to borrow money from a bank. The inability to be reliable is a huge red flag to banking institutions, and here are just a few things that can easily occur when you pay late.
- IT WILL END UP ON YOUR CREDIT REPORT
- INTEREST RATES WILL BE LIKELY TO RISE
- IT CAN DECREASE YOUR CREDIT SCORE
- YOU WILL END UP PAYING LATE FEES
Making late payments is a habit that could end in more damaging credit actions.
If you neglect an account until it is sent to collections or becomes delinquent, that will play a huge factor in your credit score drop. An account in collections may remain on your credit report for 7 years & cause more damage than a single late payment.
What to Do if You Have Late Payments on your Credit Report
A Simple Solution!
Credit Repair. Credit Repair is the process of identifying, disputing, and monitoring negative information on your credit report. Nationwide Credit Clearing has been helping people all over the US delete negative information from their credit past. Whether you have late payments, medical bills, or even bankruptcy, Nationwide Credit can help you get back to a state of healthy Credit.
Contact Nationwide Credit Clearing for your free credit report and consultation today.
Nationwide Credit Clearing
“HOME OF THE FREE CREDIT REPORT AND CONSULTATION”
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
http://mynationwidecredit.com/index.php/contact-us/
Department Stores Credit Cards. Good or Bad Idea?
This video explains why it’s important not to be fooled by department store discounts given to people just for opening up a new card. Todd Stern, founder of Nationwide Credit Clearing, explains “I do not advise people opening several credit cards just to get discounts”
Tips: if you do ask them if you can charge it on your main credit card which they WILL SAY YES.
Then wait a few days and call to cancel.
How to Score:
Get your 10% and be done. You don’t want to have several open credit cards it leads to nothing but confusion and possible late payments.
The Bottom Line:
Too many open cards will decrease your credit score and increase your debt.
Already have too many?
Contact Nationwide Credit Clearing for your free credit report and consultation today.
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
http://mynationwidecredit.com/index.php/contact-us/
Why Is My Overall Credit Score Important?
What Is A Credit Score?
A credit score is a three-digit number, typically between 300 to 850, which credit bureaus calculate based on information in your credit report. It is a simple, numeric expression of your credit worthiness. Although the three credit reporting bureaus (Equifax, Experian, and Trans Union), use similar methods to determine a credit score, the formulas they use are not exactly the same and your credit score will vary from bureau to bureau.
How is My Overall Credit Score Calculated?
Your credit score is calculated based on a number of factors listed in your credit history that describe components of your financial life including the number and type of credit accounts you have, the amount of available credit, the length of your credit history and your payment history. Each of these factors is assigned a numerical value, and then weighted based on how prominently they affect your credit worthiness.
How Do My Actions Impact My Score?
The good news is that no matter where your credit score is today, there are a number of different steps you can take now that can change your credit history and help impact your credit score. You should take all the steps you can to help establish a good credit score.
Why Should I Check my Credit History and Overall Credit Score?
In today’s digital economy, your credit history and credit score are vital pieces of information that are key to helping you secure your financial life. Credit card companies, mortgage lenders, and insurance companies will pull copies of your credit report and score in order to decide whether to extend credit or how much to charge for your insurance premium.
Financial services companies tend to group borrowers into segments according to their credit score. These credit score ranges may determine how much you’ll be charged for your insurance coverage or the interest rate you pay on your mortgage, student or car loan or the type of credit card you’ll be offered.
If you haven’t checked your score lately, or have interest in improving your overall credit score, contact Nationwide Credit Clearing.
We offer Free (no credit card required) consultations after we pull your free credit report. Contact us Today!!
Credit Card Fraud
Credit card fraud is a serious matter. For victims, it can be a frightening experience. While no one wants to live a life looking over their shoulder, credit card theft can happen at the most unexpected times. While there is no guarantee that anyone is exempt from becoming a VICTIM OF IDENTITY THEFT, there are certain things you can do to decrease your chances of falling victim to credit fraud.
**Check ATMs and gas pumps for loose partsparts or suspicious keypads. If you find something suspicious, you should inform the gas station or bank, and transact your business at another machine.
**Check your credit card statements for unusual charges. CHECKING YOUR CREDIT REPORT on a regular basis can help you react quicker to fraud or identity theft.
**Be careful when accessing the Internet in public venues. Unlike home or office WiFi networks, there are a large number of WiFi spots that do not encrypt the data being transmitted through them. Your email, bank account, and credit card information could be fair game for a hacker with the right skills. Never share personal information with a stranger on social media sites and try to limit the personal information you share with your friends.
**Don’t carry information in your wallet or purse that you do not need. Birth certificates, Social Security cards, PIN numbers and passwords can be easily stolen. Identity thieves can be long gone before you become aware of any missing information.
**Shred documents with personal information before you throw them away. Identity theft crimes are usually thought of as being high-tech in nature. There are still identity thieves who do not mind foraging through a dumpster for valuable information.
Think You May Be a Victim of Fraud?
IF YOU suspect you are a victim of identity theft or fraud, you may want to consider adding a 90-day fraud alert to your credit report. A fraud alert warns lenders that you may be a victim so they can take additional steps to verify your identity before approving a loan application. Immediately inform creditors when you suspect or have proof of fraud. Take time to document every contact. Make sure you thoroughly understand the process of reporting fraud and what is expected of both you and the creditor.
Preventing credit card fraud takes awareness and effort. Protecting your personal and credit card information is probably one of the most important steps you could take to prevent Credit Card Fraud.
For more information or if you have been a victim of Credit Card Fraud, Contact Nationwide Credit Clearing
Debt Solutions: Ways to Begin Eliminating Credit Card Debt
A lot of people end up with staggering credit card debt. Even though it seems overwhelming, trimming your financial allowance through small changes in your lifestyle might help.
Debt Solutions: Day-To-Day Savings
Take a seat and consider the amount of money you would spend throughout the week on coffee, lunches and takeout dinners. Somebody who spends $ 5 each day in the coffeehouse is looking at Hundred Dollar expenditure throughout the course of the month. Invest that first month’s savings on a at home coffee maker and travel mug so you’re able to take the coffee from your home. The same goes for your morning breakfast. You will begin to see extra cash in your pocketbook right away.
For lunch time, take the brown bag with you. The $10 or more you spend every day on one salad or perhaps a sandwich leads to over $200 monthly. Instead, buy salad fixings or lunch meat at the supermarket. For anybody who typically runs late each and every morning, pack your lunch the evening before to prevent adding precious minutes towards your morning routine.
This may be the toughest adjustment for families on the go, but it’s time to cut back on takeout dinners. These quickie meals are budget busters. A few cartons of Chinese food or a couple of pizzas can easily run you $30 or more a pop. Instead, keep frozen prepared meals on hand for those nights when cooking isn’t an option. Double your recipes and freeze batches of soup, chili and casseroles on weekends when you have time to cook. Even frozen prepared foods from the grocery store will save you considerable amounts of money. Avoiding expensive takeout even twice a week can save nearly $250 a month.
Debt Solutions: Monthly Payments
The initial place to search for simple savings is in your mobile phone, cable and Internet fees. Chances are you’re spending money on features you are not using. For people with every cable channel but aren’t big on watching TV, contact your cable company to find out what packages are available that still offer what you need. Your cell phone bill could possibly be another budget drain which can be trimmed through careful research of packages available.
You could search for a bundle package that provides you significantly lower rates on your Internet, mobile phones and cable by utilizing the same company for all those. Comparison-shop between providers and do not hesitate to let them understand what you have been proposed by their competitors. This tactic is known to sweeten many deals.
Debt Solutions: Big-Ticket Items
Make the most use out of your expensive items before replacing them. Keep appliances, cars and electronics until they are no longer useful instead of purchasing every new item that comes on the market. You could be in need of that new tablet, but stick to the existing laptop for a bit — it is not costing you anything at all. Invest a few bucks in repairs to maintain your big-ticket belongings in good condition, and wait to buy new items before you look for a deal you simply can’t pass by.
Now that you know more about how to eliminate credit card debt, get your FREE credit report & consultation from the #1 Chicago Credit Repair Company, Nationwide Credit Clearing.
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail: support@mynationwidecredit.com
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Can’t get a loan because of low credit score?
If you have a low credit score or credit problems as a result of declaring bankruptcy or foreclosing on a home, or if your credit scores have dropped because of late payments or failure to pay, do not despair.
Although a good credit score can drop very quickly, at times taking a hit of as much as 150 points or more, it is possible to improve your credit over time and to qualify for a new mortgage loan. Boosting low credit scores is not the only means for people with deficient credit to get a home loan. The Federal Housing Administration (FHA), in an effort to promote homeownership, has made it easier for people with a damaged credit history to qualify for a mortgage loan. Under certain circumstances, people who have foreclosed or declared bankruptcy can obtain an FHA loan several years earlier than a conventional loan, and these people can buy a home with a smaller down payment.
Credit Scores & Lenders
Credit scores indicate to lenders how well you manage money. You can improve bad credit by demonstrating that you can now handle money more responsibly. Furthermore, since poor credit scores translate into high interest rates on home loans, an improved score will help you get lower interest rates when you are ready to qualify.
How to improve credit scores to qualify for a loan
Here are a few ways people with a negative credit history can raise their credit scores and ultimately obtain financing for a new mortgage loan:
- Improve payment history by making payments on time
- Do not open new lines of credit Use credit cards sparingly, and without overextending credit lines
- Make payments in full Have up to four different kinds of credit accounts
- Show evidence of steady employment for a period of one to two years
- Come up with a budget plan and stick to it
- Build up savings
Insider’s tip: Credit experts advise not spending more than 25 percent of your available credit on any credit card account. If you have a $1,000 maximum in a given account, the balance should not be more than $250-$300. Better yet, wipe the slate clean and carry no balance whatsoever.
Other options to consider
Credit Repair? Nationwide Credit Clearing can help you eliminate any incorrect or negative items on your report, ultimately allowing you to qualify for that home loan.
Give us a call today.
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone: 773-862-7700
Toll Free: 877-334-3296
Fax: 773-862-7703
E-Mail:support@mynationwidecredit.com
How long does information stay on my Credit Report and how can Credit Repair help me?
This is a great topic because it is one of Most Frequently Asked Questions to credit repair companies by those who are trying to improve their overall credit score. The answer is probably not what you are looking for if you are someone who has had significant late payments, judgements, bankruptcy or other
Here’s the Breakdown:
and Although It depends on the type of negative information, here’s the average idea of how long different types of negative information will stay on your credit report:
- Late payments: 7 years
- Bankruptcies: 7 years for completed Chapter 13 bankruptcies and 10 years for Chapter 7 bankruptcies.
- Foreclosures: 7 years
- Collections: Generally, about 7 years, depending on the age of the debt being collected.
- Public Record: Generally 7 years, although unpaid tax liens can remain indefinitely.
Length of Time Matters:
For all of these negative items, the older they are the less impact they are going to have on your FICO® score. For example, a collection that is 4 years old will hurt much less than a collection that is 4 months old.
After that time it will be automatically removed from your report. But 7-10 years is a long time, and that negative information can be standing in the way of you buying a car, a house, or getting a good loan. Public records have a huge impact on your credit report and your credit score as well.
At Nationwide Credit Clearing, we help you get those items removed. There is no reason for those items to remain on your report for 7-10 years.
Positive Information:
All positive information on your credit report can stay there forever. The more positive information, the better your credit score will be
It’s time to start learning how to STOP LETTING BAD CREDIT AFFECT YOUR FINANCES. When you sign up with Nationwide Credit Clearing, we take the lead to work on your credit report and dispute unfavorable or inaccurate and outdated information. By doing this it will help save time, energy and frustration. More importantly we help to improve your credit score and ultimately fulfill your dreams… whatever they may be!
Nationwide Credit Clearing offers absolutely FREE – no credit card required – credit reports and consultations. To see your credit score, contact us now.
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What is Considered a Good Credit Score?
Do you know what is a good credit score?
Still have questions?
Call the experts at Nationwide Credit Clearing
Nationwide Credit Clearing
2336 N. Damen
First Floor
Chicago, IL 60647
Phone
773-862-7700
877-334-3296
Fax:
773-862-7703
E-Mail:
support@mynationwidecredit.com
