Paying cash has it benefits, if you ask me what will I’d prefer, either 1 million dollars or a 700 credit score, I think you should know the answer, but for the people that were born with a silver spoon in their mouth I’d prefer the spoon.
See when it comes to getting what you don’t have cash rules everything around me, but second to cash is credit. However, credit is only valid if you have the cash to pay on it.
Yes, you can look like a miniature Baller if you make the minimum payment but after awhile the Baller items that you purchased will soon go out of style and you will be left looking like a guy holding a walkman with Karl Kani shirt.
This can only cause your trouble or make you look pity if you’re not prone to make more than the minimum.
So yes, we do prefer cash, however how do we help those people that has ditched the shirt and the walkman cassette player.
For some, they just ditched the credit card all together and began paying cash once again.
Then for some their credit got slammed and the score dropped to the floor just as hard as that junked that they purchased using the same over the limit credit card.
We have heard this story way too often and have found that the best system to use to start building up your credit score is to make sure you either file bankruptcy or begin speaking with a credit expert on how to get things on the right track. Yes, they can help get negative items removed from your credit bureau even if some of these items do belong to you.
Waiting 7 years for these items to fall off your credit is ancient history, now with technology and a little bit of help you can finally get the score you want even if it had to cost you more than a cup of Starbucks coffee everyday for the next 6 months.
Yes, that coffee isn’t cheap, but what have you got to lose if you want to move out of an apartment and into a house or perhaps ditch taking the bus, and finally driving a reliable car because you were able to bring your credit score from a 500 to a 700 in a matter of 6 months.
6 months can seem like a long time for some, but for most, it’s a lot better than waiting around and doing absolutely nothing and expecting to get the same results or hit the lottery.
Be Responsible To Improve Your Credit
I have seen so many changes in the credit card world that make me ask if they are heading in the right direction in terms of getting the end consumers what they want for having a good credit score.
A revolving line a credit is set up in place to help you constantly overcome financial obstacles while giving you the time to pay back the balance that you have used.
The longer you have to pay back the obligation the more leverage you have on your current income.
While this is definitely attractive, a credit card can get you in deep trouble if you allow these high balances to snow ball and leave you wondering what you may be able to do to get your financial house back in order.
The more money that you take out the more it hurts your credit score so try to keep the balance less than 50% of the limit. While it’s easier said than done you want to make this your focus or else try to apply for another credit card.
The more cards the better as long as you can afford to pay the annual fees.
However do not go crazy and apply for credit cards back to back because that inquires can also hurt you in the end as well. An inquiry will stay on your credit card for typically 60-90 days. This keeps people from getting too much credit at once by rigging the system.
Avoiding scams and fraud is a huge issue in the credit business and we pay for these types of losses and risks with our rates that we pay each and every month even though you are a responsible innocent consumer that pays all of his/her bills on-time and have a 800 credit score.
You will also be affected by these problems so try to report things that looks strange to you as you may come across.