How to fix your own Credit Score

Has your credit score dropped down tremendously? Do you need your score to look good for any future credits or loans that you want to apply for? Don’t worry, while having a bad credit score is not good, you can easily fix the credit score by following these steps:

Determine your Credit Score and analyze it

Start by getting your credit report from the credit bureaus and then analyze the causes that are hurting your credit score. Make sure you make a thorough sweep of your credit report and don’t skip a single section on the report. Make sure your personal details are correct and check where you have caused the most damage to your credit score.

Dispute any inaccuracy

If you find that there is any information which is incorrect on your credit report, then you have a right to dispute that information. So, if there was some credit payment which you made on time but it reflects differently on your credit report, you can easily dispute it and get it removed from your report.

For this, you would need to write a letter to the Credit Bureau Company stating the incorrect information and sending the copy of proofs for them to refer to.

The Credit Bureau Company will, in turn, contact the creditor and if the creditor isn’t able to provide sufficient proofs for the data, the information will be removed from your report.

Factors that affect your Credit Score

Stop applying for loans or credits

Another important step in fixing your credit score requires you to avoid applying for loans or credits. This is because every time you apply for a loan, an inquiry is made of your credit score which is known as a hard inquiry and this gets added to your credit report which decreases your credit score further. So, avoid applying for too many loans together and better to stay away from it until you have a reasonable credit score.

Pay your bills on time

One of the most important steps in fixing your own Credit Score involves paying all your bills on time. This means you have to clear all your previous dues and make sure you pay your electricity bill, parking tickets, etc. on time from now on. If you have too many unpaid bills, it gets added to your credit report and affects your credit score severely.

pay your own bills on time

Pay your credit card payments on time

Make sure that you always pay your credit card bills on time. If you delay the payment, not only you will have to pay an interest the next month, it also severely damages your credit score. Also, ensure that your credit card limit low as this will help in improving your score. Keep the limit to less than 33% which is the ideal credit limit.

Avoid overspending

One of the best ways to fix your credit score is to stop shopping for a while and only buy stuff which is useful to you. Don’t use your credit cards for some time and you will see that your credit score will improve drastically after some time.

Avoid overspending

Installment Loans Bad Credit- Income Together With The Simple Sequel Scheme

So why have lenders so slow to check out rating patterns just like the VantageScore? The file it’s because FICO is engrained in our credit program and moments check has been sustained by it. An even more questionable reply is the fact that these lenders are reluctant to compromise from requesting higher curiosity degrees on loans directed at individuals who are a credit risk the big profits they develop.

Reimbursement of these cash loans installment loans can also be not extremely effortful. If you are incapable pay-back the complete sum then you can repay the money in payments that are unproblematic. You are able to select the desire that is repaying in accordance with your economic issue.

Bad Credit

Settlement– If you have $10, 000 or even more in total credit cards that are really overdue or if you are being hounded by collection agencies, this might an excellent option for you. This debt relief option reduces your balances and monthly payments to help you begin to get your credit back on track. What goes on is a professional obtain than your debt them to take a reduced sum, and will bargain together with your creditors. It is called by them possibly when they agree to take a lower sum and also you are not accountable for the rest. Many situations, debt collectors are not unwilling to accept a sum that’s not up to 60% more than your balance. The arrangement offers you an approach to reunite on your own legs as well as a somewhat lower payment as possible afford.

Lower Credit Score: the majority of us think about the fees which may be related to lacking an automobile loan payment or being late, nevertheless, your credit score is wherever you’ll experience it the most. As much as 20 items may fall, when you skip a cost on an installment loan. It’s calculated that a 10-point drop in credit history will cost you approximately $12,000 over a five-year period, though 20 points don’t sound like much. This increase in expense is from greater charges being charged over quantity of mortgage products including charge cards, auto loans, and mortgages.

You must utilize loan amount effectively to repay easily. You should also pay back the loan amount on time to your excellent photograph before the lending company, to ensure that he could supply you a mortgage with belief if you want the loan the next time likewise.

Because the label goes, small long term installment loans are cash advances which can be found without any fear of early payment. An individual will not need to be worried about their credit history that is past. Because its transaction solution that was simple, it has been demonstrated like a boon for folks searching for any mortgage of.

Here is the choice that you can opt-in case you truly need a support that is instant, for. Everyone could get his needs financed utilizing the support of the simple income loans. These are a few of capabilities or the concerns about these loans offering them with an edge over distinct loans.

You’re able to basically get combined with payment loans together with online request process is simplicity and help. It keeps a great deal of effort and time. There are numerous lenders giving this loan choice. The applying consider only a few minutes and ship you the mortgage cash primary as part of your bank checking account within the moment. Which you don’t have to address any program payment. Get the funds right away at your convenience inside the fast amount of time.

Poor Credit Installment Loans – Get Important Need Of Income Without Any Hassle

Bad credit bank loans are still available traditional or higher the web. There is a poor credit mortgage cash you acquire from a bank for your own individual use. The lending organization can be quite a bank, expense agent, or individual lending company. You’ll be able to apply for this kind of mortgage within your geographic area or on line. Bad credit lender loans may be used to get quantity of desires including medical charge, auto-repairs, college fees, a holiday, property developments or remodeling, fresh enterprise, legal fees.

The simplest way to utilize for such direct lender installment loans for bad credit is via the method. You have to simply fill in an application form on the lender’s website and once the form is packed, the residual task is finished from the bank herself. Without going everywhere you might get the money loans.

It’s advisable to get all one’s credit report’s copies, in making it without any errors, which can reduce your score. In case your credit score has plunged, because of CCJs, foreclosures, debts or late payments, then create normal payments for few months, and make an application for these loans using an increased rating.

Poor Credit Installment Loans – Get Important Need Of Income Without Any Hassle

Because we genuinely believe that the entire procedure for credit money can be a boring task, many occasions we hesitate to utilize for loans. But with primary bank low-interest installment loans for bad credit, you will watch an absolutely straight forward and straightforward solution to acquire profit just a few hours period. You will not be unable to employ and acquire agreement in a fast approach and therefore will be able to repair your cash issues promptly.

You can find techniques unsecured personal installment loans for bad credit getting around all of this and the many values may be to really have a cosigner. If you were declined to get a loan, try reapplying with a cosigner who has a great background. Additionally, check around. Being rejected from one position doesn’t immediately mean you’ll be declined from all others. There will also be completely different rates of interest from company to business.

These loans are supplied in both unsecured and secured method. This will depend on the customer, which loan he or she wants. Loans are little costlier compared to secured loans. But these are free from any danger. Individuals need not worry about dropping their advantage retained with all the bank in these loans. Here is the main benefit of going through loans for credit help.

While you have read that implementing online for a guaranteed poor credit signature loans should not function as the simplest way to acquire significant sums, it may be a rapid method to get yourself a certain poor credit unsecured loan, best and the cheaper.


Installment Loans

Pay for Transit Using Your Phone: Sprint, Western Union Partner to Deliver New Payment Service

Pay for Transit Using Your Phone

As a long-time user of EZ Rider, a contactless payment method used on my local transit carrier (BART), I was pleased to see an even better alternative: paying for my tickets with my mobile phone. Instead of swiping the EZ Rider card, the service allows you to swipe your mobile phone over the sensors to open the fare gates.

The card/phone is replenished periodically with automatic withdrawals from my bank account. The trial is being conducted in the San Francisco Bay Area for Sprint and Boost Mobile customers and will be using a specially equipped phone for the duration of the trial.

My experience so far with the EZ Rider card has been flawless. It sits neatly in my wallet along with my other credit cards, and because it’s contactless, I place my wallet over the sensors without ever taking the card out. It works on the first try about 90% of the time (usually because I’m rushing passed it too fast), and a 100% the second time around.

I’ve come to rely on it so much that I can’t imagine having to buy another ticket again — force feeding the ticket into the fare gate now seems almost like a bad magic act. The phone is a nice alternative, and it’s good to see public transit trying new ways to make it easier to ride. Granted, some of this technology is not new (Japan and South Korea lead the way here on large scale implementations), nonetheless it’s a payment trend that could take hold even here in the states.

Interview with Shashank Pandit, Co-Founder of Buxfer

Buxfer is a startup with the stated mission of helping you “track your money, effortlessly.” It started innocently enough as a simple script developed by Co-Founder Ashwin Bharambe to track expenses among his college friends at Carnegie Mellon. But after some prodding from friends and inspiration from their soon-to-be angel investor Paul Graham at Y Combinator, they started Buxfer (a merging of the words “bucks” and “transfer”).

I recently talked with Shashank Pandit, one of the two Co-Founders of Buxfer, who explained that the real motivation behind starting the company was Paul Graham himself, who instilled a “nothing to lose” attitude. Ever since the Buxfer Website has morphed with new Web 2.0 features targeted at the twenty-something crowd. Shashank explained that new features are the result of staying in touch with customers and that they “personally answer all emails,” spending about 1-2 hours a day on simply responding to requests and questions. They have also gone out of their way to make it easy for their users to make a suggestion with a prominent “Make a suggestion” link on their global header. Their focus near-term is to “solve the problem of young people to manage their money” and that “shared expense is the hook” for the larger goal “to create the best personal finance application on the web.” They are employing Paul’s start-up approach of releasing “a minimal version one quickly, then let the needs of the users determine what to do next.”

As a result, their general strategy seems to be to constantly add customer-focused features to build an application that people want to use. Along the way, they were one of the first to add Amazon Payments to settle expenses between friends, and are moving towards managing transactions by bank account. Shashank pointed out that they don’t plan on engaging in social networking for generating financial advice (similar to Wesabe), but they see value in social tagging for categorizing transactions and “training” their tagging engine. This is in direct competition to, who takes a different approach by auto-categorizing transactions based on 90 different categories.

I asked Shashank about bank aggregation and account synchronization, and he said that for young people, bank aggregation is not important, but at the same time, they definitely have it in their sights and that it’s something they’re working on. Another enhancement that I asked about is security. Shashank confirmed that they use industry standard security procedures, but are looking to add advanced features down the road.

What Buxfer is doing has gotten the attention of banks for the idea that users not only want to track expenses online but most other things related to their money. More importantly, it’s an experiment with how people track their money with other people, not just businesses. It has broad applications beyond overseeing the money you owe or that others owe you. It goes to the very heart of cash flow management, budgeting, and financial planning. Given that their target audience, the twentysomethings, are notoriously bad at this, they have already succeeded in my book.

M-Com: Mobile Banking Done Right

McomLogoSMM-Com is a New Zealand-based technology company that boasts in “building and deploying the world’s best mobile banking and mobile payment solutions.” And by all accounts, they’ve succeeded. Taking a look at their featured deployment for ANZ bank in New Zealand, the feature set looks head and shoulders above anything else on the market.

Balances_12For starters, the interface is seductively elegant and seamless but still packed with features. At a high level, users have the standard features of viewing balances and making transfers between their accounts. But then it quickly gets interesting. Users can make mobile payments to anyone with a New Zealand bank account. The catch is that you have to know a series of numbers associated with the recipient’s bank account, including the number of the bank, branch, and account and a little thing called ’suffix.’ But nonetheless, you can make the payment, which is saying a lot given the level of functionality available today with most mobile banking solutions. You can also store the information of your favorite payees to access for future payments, eliminating the need to re-enter their bank information.

Another feature is Alerts, which can be set by account and delivered daily, weekly or monthly. And last but not least, users can access a ‘Mini-statement’ of their most recent transactions by account, including complete transaction details.

ANZ bank offers a very thorough online demo of what they’re calling M-Banking.

“Mobile Banking” Unwired

The U.S. is far behind the rest of the world in mobile banking. Major banks such as Bank of America and Wells Fargo can barely offer a snippet of what’s offered through M-Com. But the trend in the U.S.  for mobile banking adoption is increasing, and it won’t be long before mobile banking and mobile payments become a standard offering by most FI’s.

Taking PFM to the Extreme

If you’ve ever used Quicken then you’re already familiar with PFM (or Personal Finance Manager) and its big shortcoming: it’s a pain in the neck to stay current. But that may be changing fast. With the rise of Web-based applications and on-demand software, the days of downloading transactions from your online bank, reconciling your check registry, or trying to make sense of statements at multiple accounts could be over. Major banks and startups are working hard to take over where Intuit’s Quicken has failed: ease of use and online access. Sites like Wesabe, Buxfer,, Digital Insight, Yodlee, and Jwaal are building online tools to help you (and in some cases your bank) better track, manage, and plan your personal finance.

Anyone trying to build or use a PFM solution is aware of its biggest problem: data. Synchronizing, managing, and personalizing one’s transaction data is a superbly complex thing to do. This is made doubly more difficult if your data sources are financial institutions that have traditionally kept your data (for good reasons) under lock and key. Here are some things to look for when evaluating and optimizing your PFM services:

  1. One-click updates with your bank. With PFM, it’s only as good as its data. Forget downloading transactions from your bank; that only gets you so far. Look for a solution that lets you automatically update your transactions directly from the site. It should be as easy as providing your login username and password. Also, the solution should not have you guess when the last time you downloaded, or where to save the downloaded file. It should synch up like email updates in your inbox, instantly and on-demand.
  2. Meaningful transactions. By meaningful, I mean a solution that lets you personalize transactions to match your actual cash flow activity. It’s no use to have a static transaction description such as ATM WITHDRAWAL. To make sense of it, a PFM solution must let you rename/tag/label while making it super information rich and relevant.
  3. It learns. Over time, any worthwhile PFM tool will appear to understand your cash flow better than you do. Through consistent tweaks you provide, it can begin to automatically rename, categorize and flag transactions, giving each transaction more relevance with minimal effort.
  4. Reporting. Through a combination of real-time data and meaningful transaction information, a robust reporting tool can inform and assist with all sorts of financial management tasks, from budgeting to reconciling. This will save you time and money, especially come tax time.
  5. Security. By now, this is a given, but still worth mentioning. Ensuring that your data is protected with the latest security techniques, including two-factor authentication and beyond, is your best safeguard against phishing and fraudsters online, who are salivating at the chance to get their hands on your info.
  6. Payment enabled. Sending and receiving money is the PFM killer app, providing a way to instantly, reliably and securely make payments as you’re managing your finances. Today, payment methods and instruments run the gamut from cash and check to bill pay and person-to-person payments. A payment-enabled PFM would provide a contextual payment solution with various options to choose from to make a payment. Whether the payment is by paper check, P2P, ACH, money transfer, or via Bill Pay, you’ll be able to select precisely how and when that payment will be delivered.
  7. Search. Similar to reporting, an intelligent, natural language search is critical to find, track and manage your cash flow. Say for example you were charged a late fee for a payment you know you made on time. A simple search for the payee name and data range should immediately display that information, including any associated meta information.
  8. Alerts and notification. So much of financial activity happens without us ever lifting a finger. With so much automation, account balances and activity can easily fluctuate out of control. While convenient, too much automation can prove dangerous due to the potential for fraud activity going unnoticed, account balance dipping too low, and simple human or bank errors. A PFM solution would provide custom alerts, whether based on predefined criteria (such as sending an SMS in real-time whenever a CC charge is made) to search-based alerts sent by email or RSS (as provided by Jwaal).
  9. Financial advice. Tips and financial planning advice can come from a variety of places, and not only from so-called experts. Given the amount of data, financial advice can come in the form of comparing your activity to the rest of the financial community and seeing how well you’re fairing. A series of contextual ‘did you know’ and community/expert advice can bring a different perspective and analysis to what otherwise would be a passive affair of tracking your money.
  10. Product reviews. Imagine for a moment you’re looking to move your checking account to another financial institution, and you wanted some more background on products based on your criteria. Imagine that the reviews were persistent and easily accessible, so you’ll never miss out on an opportunity to maximize what you can do with your money. Reviews help shed light on the vast amount of choices available and give perspective to financial activity that otherwise would be lost by reviewing cash flow alone.
  11. Data backup. Enough said.

Test Driving BART’s EZ Rider Smart Card


Living in the San Francisco Bay Area has its benefits, but public transit is not always one of them. But that may be changing with the introduction of a new contactless payment service, aptly named EZ Rider Card, by BART (Bay Area Rapid Transit).

I got the EZ Rider Card a few months ago as part of their Pilot Program, and it has quickly become an indispensable way to pay for BART. Gone are the days of struggling with antiquated machines to pre-load a magnetic stripe every week or so, or having to worry about losing the card. Instead, it works by associating a credit card to your EZ Rider. BART then stores money by automatically charging $45 to the credit card every time the balance on the EZ Rider card falls below $10. The card works by using an ultra high frequently contactless payment system technology to pay for the fare. To use, you have to place the card over the plastic disk card reader on top of the fare gate. It calculates the money based on the station-to-station fare and conveniently displays your balance on the card reader display. If the card is ever lost or stolen, you can report it by calling BART and the card is automatically de-activated within 1 business day.

Things not so easy or smart

  • Not all the fare gates work equally well. For whatever reason, some readers decide to fail to read the card, generating a beep that seems to resonate disproportionately loud.
  • Waving the card over the reader does not work. As the instructional demo below states, it’s best to lay the card flat for at least one second for it to read the card. Otherwise, that now familiar beep quickly reminds you of your indiscretion.
  • You can read other complaints on the blog BART RAGE, such as a non-automated way to sign-up.

What’s Next?

BART is already talking about tying reward points with card usage and providing discount rates for the elderly. They’re also talking about connecting EZ Rider to the wider regional transit payment system TransLink (rumor has it that they’re launching it this year with the help of Cubic).

Should contactless payments become truly ubiquitous, the impact on payment applications and programs could be phenomenal. In Japan, where contactless payments are a fairly common way to make payments, there’s even talk of “wallet phones”, flipping the term “pay phone” on its head.