Is a High Credit Score Possible for Anyone?

Posted on February 6, 2012 by Steven Greenwald

Is a High Credit Score Possible for Anyone?

“Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.”
– St. Francis of Assisi

Many people come to me discouraged about their credit score…

Often they feel only a certain elite, those who “know the right people” or people born with a silver spoon have a high credit score possible in their lifetime.

I understand the frustration but in reality a credit rating worthy of low interest rates and the favor of the best creditors is within reach regardless of your social status, career, or address of your Zip Code.

Is a High Credit Score Possible for Anyone?

There is no smoke and mirrors involved in attaining the highest possible credit score.

It really just comes down to being willing to follow some common sense financial disciplines regarding credit and debt.

It is important to get your credit score on a regular basis. Picture a mechanic trying to fix the engine on a car without opening the hood. You have to know whats broken before you can fix it. Get your credit score and study it for errors and to see where you are falling short. The FTC mandates every US citizen can get their annual credit report free once every 12 months. Take advantage of this.
Pay your bills on time. Your credit score reflects the likelihood of you paying back credit extended so it makes sense the biggest red flag to creditors are from those who pay late or don’t pay at all. As soon as you get a bill enter its due date in your calendar, put a reminder in your cell phone or put a sticky note on the fridge if you have to… do whatever it takes to remind you to pay it on time… it really is THAT important.
Don’t take out new credit unless you absolutely need it. Your credit score reflects how responsibly you handle credit. If you are forever getting new credit cards, lines of credit and loans for no legitimate purpose it looks like you are flippant with credit and seen as a credit risk.
Don’t be quick to close old accounts… even if they aren’t being used. Part of your credit score strength comes from the average age of your accounts Older established accounts (especially if kept in good standing) are a bright star on your credit report.
Be sure to contact the credit bureaus (Equifax, Trans Union, Experian) with any errors requesting the proper information replace the errant.

As with anything if a person is starting from the beginning it will take time to develop the proper habits and for the lenders to begin to trust your ability to handle credit responsibly so its important to be patient, consistent and to chip away at it.

Although a high credit score is possible for anyone don’t expect yours to sky rocket over night. Trust is something that takes time to develop and creditors are careful with who they lend their money to. The more trust you build the more favorable they will be with their interest rates and approval process.

Is a high credit score possible for you? Absolutely! Start today with the necessary, then do the possible and before long you will be amazed with the impossible…

All Your Eggs in the Credit Score Basket

Posted on February 3, 2012 by Steven Greenwald

All Your Eggs in the Credit Score Basket

We’ve all heard the famous saying… “don’t put all your eggs in one basket”… well I have another one for you…

“Conventional wisdom is not to put all of your eggs
in one basket. 80/20 wisdom is to choose a basket carefully,
load all your eggs into it, and then watch it like a hawk.”
— Richard Koch: is a former management consultant,
entrepreneur, and writer

When it comes to the “credit score basket” there really only is one basket so your sole true option is to choose your basket wisely.

With our investment portfolio we can diversify.

We can hold some cash in savings, some bonds, some high risk and some low risk stock, real estate, local and off shore, precious metals, antiques and art and various other assets.

We can position ourself with multiple streams of income, use tax saving methods to shelter some of our income and even hire a financial service advisor.

All Your Eggs in the Credit Score Basket

Although we each have 3 credit reports; one from each of the 3 main credit bureaus, Experian, TransUnion and Equifax ideally they should all hold the same information so our approach is identical for each of them.

In the end we only have one credit score basket to work with so you better take it seriously and make the most of it.

The good thing is that at anytime it is possible to rethink how you use your basket…

As well you can choose to put different things in your basket and take out others…

You have the option of sticking it in the corner and forgetting about it or to carry it with you wherever you go and treat it with respect and care.

Many people scarcely realize they even have a credit score basket which doesn’t rank as an excuse for not having a good one.

How are you treating your credit score basket?

4 Good Credit Score Habits to Adopt

Posted on February 1, 2012 by Steven Greenwald

4 Good Credit Score Habits to Adopt

4 good credit score habits “The chains of habit are too weak to be felt until they are too strong to be broken.”
– Samuel Johnson, Lexicographer

Taking a few minutes now and again to learn more about your credit score rating can help boost your credit score and save you money.

Incredibly most consumers are still unaware of the basic facts about credit scores and the significance it serves on their financial picture.

A recent survey shows only 27% of consumers realize their credit score measures credit risk and the likelihood of them paying back a loan on time.

Considering its importance its well worth the time to adopt a few simple good credit score habits to increase your score.

The three main credit bureaus TransUnion, Exquifax and Experian devise your credit report score as a number between 300 and 850.

Generally those with a credit score in the 700 range get lower interest rates and those with scores of 760 and over get the best rates. If your credit score is 600 or below you will normally be charged higher rates and if your score is very low it is often difficult to be approved for credit at all.

There can be many ins and outs to increasing a credit score but if you only adopted the following 4 good credit score habits you would do wonders to increasing yours.

Once you know your credit score…

4 Good Credit Score Habits to Adopt

1. Always pay your bills on time. Paying bills late have one of the greatest negative impacts on a persons credit score. With a credit score in the 700 range you can raise it as much as 20 points simply by paying your bills on time for 1-2 months.

2. Keep your credit card balances low. A high debt ratio (outstanding balance versus credit limit) can negatively affect your credit score. Continually having your cards maxed out can lower your score as much as 70 points.

3. Don’t obtain new credit you don’t need. New accounts will lower your average account age which can lower your score by up to 10 points.

4. Have credit cards if you use them wisely. Having credit cards and loans (provided you pay your bills on time) will actually raise your credit score. Someone who has never had credit has also never proven they can handle credit properly so they will actually have a lower score than someone with credit used responsibly.

Now that you know the 4 good credit score habits to adopt go out there and create some new “good” habits.

Free Credit Score Mindset

Posted on January 31, 2012 by Steven Greenwald

Free Credit Score Mindset

“Abundance is not something we acquire.
It is something we tune into.”

— Wayne Dyer: is an American self-help advocate, author, and lecturer

The free credit score mindset is one where failure is not an option.

You may have setbacks and you will likely make costly mistakes (as we all do that) but in the end your sheer determination to carry on despite the adversity is what is required to finish the journey well.

Many “preach” education and understanding and although these are both good and often necessary they will not get you the “prize” in and of themselves.

I know many incredibly smart, educated and talented people who lack the drive to even begin to utilize a small percentage of their potential. They know exactly what to do and how to do it but for some reason they seem frozen in inaction.

On the flip side I know many others who have little to no education and have a fairly rough “skill set” but are crushing it in their financial world and with improving their credit score simply because they refuse to give up and use their failures as a lesson to grow for next time.

Free Credit Score Mindset

Like the quote above the mindset we need is one we tune into… it is an attitude… a stance… a perspective.

There are many who went before us and countless who currently surround us whose company we would do well to glean from.

Read some books… join some mailing lists… join a Mastermind group and start allowing the attitude for success to begin seeping into your belief system.

The free credit score mindset is available to anyone and everyone… it is there for the taking… well… rather… it is there for the tuning in. Find the proper station today.

Credit Score Project – Good Things Take Time

Posted on January 18, 2012 by Steven Greenwald

Credit Score Project – Good Things Take Time

“No great thing is created suddenly.”

– Epictetus, philosopher

We live in an “instant” society… everything has to be “now” or at least “fast”.

Instant meals… instant credit approval… instant communication…

We have become an impatient people.

Credit Score Project – Good Things Take Time

Working on your credit score project can seem like a long and arduous task and many who I speak with are going crazy having to wait.

It’s important to realize, behind your credit score number are Corporations that consist of people who are making decisions based on how you have handled credit and your finances in the past.

Your credit score isn’t some randomly generated number but is one based on history over previous years.

Going forward, in order for your credit score to increase you need to show these same people you are able to handle credit better than you have in the past.

This requires trust to be built and trust takes time.

In previous posts I have shown you other credit score tips like disputing credit report errors and adding missing positive information to your credit report but once this is all in line it really comes down to consistent financial responsibility.

To be successful in your credit score project of raising your score to where you get the best interest rates from the best lenders it is important to have an action plan for increasing your credit score and then follow that plan consistently for the rest of your life.

Once these habits and principles are set up in your daily routine it really is not even extra work anymore but rather a way of life.

The Great Wall of China, the Coliseum and the Pyramids were built with quality and the intention of longevity… they were not built in a day!

On a lesser scale but with significant importance to yourself and your family your credit score project is one that will also take time but definitely well worth the wait.

The Free Credit Score Mystery!

Posted on January 13, 2012 by Steven Greenwald

The Free Credit Score Mystery!

“We learn more by looking for the answer to a question and not finding it than we do from learning the answer itself.”

– Lloyd Alexander

Many people come to me frustrated asking what is the free credit score mystery!

Usually what they are upset about is the seemingly illusive great credit score.

Often they have tried various tricks and tactics to no avail.

A common perception is if they have a bad credit score it should correct itself over time as if “time heals all credit score wounds”.

Or they will follow some cockamamie scheme they found on the internet… because we all know EVERYTHING you find on Google is rock solid truth.

OK… sorry if I’m being a tad harsh here but if you check out my blog you will see over and over how getting an impressive credit score is not rocket science but simply just following good financial principles like paying your bills on time on a consistent basis over a period of time.

A credit score does not decline for no reason.

In the same way a good credit score doesn’t magically appear on its own.

The free credit score mystery really is no mystery at all…

Check your credit score on a regular basis and make sure there are no errors…

If there are send a credit report dispute letter and have them corrected.

Beyond that be financially responsible.

Keep your amount of extended credit ratio compared to your credit limits as low as possible.

Don’t take out new credit frequently and don’t be quick to close old accounts if they are in good standing.

Look around on my blog as is it filled with great credit score tips and tricks that are proven over time again and again and not based on some fancy scheme to trick the Credit Bureaus.

In the end you will realize the answer to the free credit score mystery is simply …. common sense!

Raising Credit Score by Fixing Credit Report Errors.

Posted on January 10, 2012 by Steven Greenwald

Raising Credit Score by Fixing Credit Report Errors.

Many people believe the credit bureaus are these high and mighty agencies who never make a mistake and are completely unapproachable.

Truth of the matter is they are very much human, are prone to making mistakes and are strongly regulated by a powerful Government organization called the Federal Trade Commission (FTC) who have at their disposal a Federal law called the Fair Credit Reporting Act (FCRA).

The FTC is a very active organization who strictly enforces the FCRA. As a result the Credit Reporting Agencies (CRAs) are diligent in following the rules.

One part of the FCRA states if you submit a complaint about an error on your credit report the applicable CRA has 30 days to investigate and act on the complaint.

Some studies have shown as high as 79% of credit reports contain some form of error.

It seems tragic to me that so many people are suffering the financial affects of a lower credit score because of an easily corrected error.

If you haven’t done so recently…

Click here now to get your free credit score
Review it carefully
Make a list of any error regardless how small
Use the sample letter below to send a dispute letter to any of the applicable CRAs whose report contains an error.

Personalize the following letter and be sure to clearly explain each error, add or attach any supporting documentation, and be sure to keep a copy of all supporting information and the letter itself along with the date you sent it.

Raising Credit Score by Fixing Credit Report Errors Using the Sample Letter….

Date of letter

Your full name
Your mailing address
City, state and zip code

Name of Credit Reporting Agency [Equifax, Experian or Trans Union]
CRA Address
City, state and zip code

Dear Sir or Madam:

Upon reviewing my credit report received from your agency, I am formally disputing the following information I believe to be in error. I have listed each item I found incorrect as well as how I feel it should be corrected.

[Full Account name] [Account number] [Proper Information to be reported / Inaccurate information and why it's not correct*]

Please find enclosed all supporting documents.

Please forward supporting documentation and pertinent information to my dispute to the applicable credit furnishers pursuant to the FCRA.

Sincerely,

(sign here)

Your full name
Your Social Security Number (SSN)
Your Date of Birth

Enclosures: (list documents you are enclosing – ex.: proof of payment, statements etc)
*Be as detailed and specific as possible in your description of any errors and send every piece of evidence you can come up with to support your claim.

Here are the mailing addresses of the 3 major Credit Reporting Agencies

TransUnion LLC

Consumer Discosure Center
P.O. Box 2000
Chester, PA 19022-2000
(800) 916-8800

Equifax Information Services, LLC

Complaint Department
P.O. Box 740256
Atlanta, GA 30374
(888) 873-5420

Experian

NCAC
701 Experian Parkway
Allen, TX 75013
(800) 583-4080Hopefully this post will take away the negative stigma of how big and scary the CRAs can be.

Get your free credit score today and insure it all checks out ok.

Be Smart About Your Credit Score.

Posted on January 4, 2012 by Steven Greenwald

Be Smart About Your Credit Score.

If a man empties his purse into his head no one can take it away from him. An investment in knowledge always pays the best interest. – Benjamin Franklin, 1706-1790

Sometimes we work really hard but still don’t realize our dreams… many times this is because what we work hard on isn’t the most ideal place to focus our energy and resources.

If a farmer is diligent about watering and fertilizing his land but has yet to plant any seed how large do you think his harvest will be?

Our world is rapidly changing and is doing so more frequently as time goes on.

As a result it is important to keep up with how these changes affect our life, our finances and our future.

If you are working on improving your credit score but are doing so based on last year’s criteria you may end up missing the boat or at the very least mismanaging your efforts.

As stated in the quote above a person can never go wrong with an investment in knowledge.

Despite what many say… ignorance is not bliss… unless of course you are fine with allowing a crowd of sheep to dictate your future.

Knowledge is power and it also contributes to clear and focused direction.

Be smart about your credit score…

Talk to your banker about what he would recommend regarding your finances and credit history…

Do some online research…there is an unlimited wealth of helpful information on the Internet.

Pick up a personal finance book at your local bookstore or buy one online through Amazon

Make a point of learning something new at least once a month to help you more quickly and more efficiently reach your financial goals and dreams.

Be smart about your credit score and start learning something new today.

I Think I Can I Think I Can… Reach My Credit Score Goal

Posted on December 30, 2011 by Steven Greenwald

I Think I Can I Think I Can… Reach My Credit Score Goal

A few days back I wrote a post called What’s Your Credit Score Goal and spoke of how in the past I found it difficult staying motivated while trying to achieve my credit score goal.

Dr. Jerry Lynch says: “When you believe and think “I can,” you activate your motivation, commitment, confidence, concentration and excitement – all of which relate directly to achievement.”

Pretty cool huh?

Guess “The Little Engine That Could” knew what he was talking about in 1906 when he said… “I think I can…I think I can” and ended up doing what all else said was impossible.

We all have talents and abilities but none of them do us much good if we have little to no motivation to use them or use them well.

Can I Really Reach My Credit Score Goal Using 4 Simple Words?

I challenge you to start every day with…

“I Think I Can”…

Repeat those words to yourself every time you have a setback or feel discouraged…

Feel yourself chugging up the steepest, scariest hill while knowing you WILL get there one inch at a time.

Drive the message into your head, heart and emotions and before you know it you will believe “you can” more than you will believe the circumstances in your life.

The quote above says believing you can triggers in you not only motivation but also…

Commitment…
Confidence…
Concentration…
Excitement

Those 4 little words “I think I can” pack quite the PUNCH!

Tell yourself “you can” with all your goals and dreams…

I Think I Can…

Reach my credit score goal
Get a date with ___________(insert name here)
Break my personal record for running a half marathon
Overcome this particular bad habit
Get the promotion I’ve been dreaming of

Can’t you feel the confidence and excitement begin to bubble within when you speak so positively to yourself? I know I can.

Begin right now telling yourself…

I think I can reach my credit score goal!

Credit Score Failure… Never Give Up!

Posted on December 26, 2011 by Steven Greenwald

Credit Score Failure… Never Give Up!

Christmas buying done… CHECK!

Boxing Day sales successfully navigated… CHECK!

New Years party expenses 4 days from the final “CHECK” of the year!

The scary part for many comes in the next month with the credit score check.

Many of us so easily (including myself) get caught up in gift giving, the holiday festivities and the atmosphere of enjoying some of what we’ve worked so hard for all year long that we over extend our finances.

Once the MasterCard bill shows up in the mail it is easy to feel discouraged and feel like we will never stop losing ground we have fought so hard to gain.

Here’s a little personal growth tip for those of you feeling it right now…

“We may encounter many defeats, but we must not be defeated.”
– Maya Angelou, poet

Maybe you totally blew it this year…

It’s possible you may be paying for Christmas 2011 well into 2012 but use this as a lesson for next year…. learn… grow… get better… handle it differently this year than any other year and you will get different results.

When successful people make mistakes they use them as a stepping stone for personal improvement not as an excuse to quit or stay the same…

Be persistent…

If you experienced a credit score failure this holiday season…

don’t give up… react positively….

The most important step is to determine you will keep working towards your financial goals and dreams, then make a plan to do things differently to insure more success in the future. Following this is a day by day following the plan with consistent percision.

Will you make more mistakes? Of course… we all do.

Another good step would be to read my recent post Raise MY Credit Score by 100 Points and follow the 6 steps it outlines.

Have a Happy and Prosperous New Year!!!

Is a High Credit Score Possible for Anyone?

Is a High Credit Score Possible for Anyone?

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All Your Eggs in the Credit Score Basket

All Your Eggs in the Credit Score Basket

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4 Good Credit Score Habits to Adopt

4 Good Credit Score Habits to Adopt

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Free Credit Score Mindset

Free Credit Score Mindset

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Credit Score Project – Good Things Take Time

Credit Score Project – Good Things Take Time

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The Free Credit Score Mystery!

The free credit score mystery really is no mystery at all…

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Raising Credit Score by Fixing Credit Report Errors.

Raising Credit Score by Fixing Credit Report Errors Using the Sample Letter….

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Be Smart About Your Credit Score.

Be smart about your credit score…

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I Think I Can I Think I Can… Reach My Credit Score Goal

Can I Really Reach My Credit Score Goal Using 4 Simple Words?

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Credit Score Failure… Never Give Up!

If you experienced a credit score failure this holiday season…

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