In the United States there are hundreds of local and regional credit bureaus that gather information about your credit habits. These small bureaus are affiliated with one of the three large national credit bureaus: Equifax, Experian and TransUnion.

When you apply for a credit card, you provide the card company with your personal information such as name, address, and employer. The credit card company then contacts a Credit Reporting Agency (CRA) and reviews your credit report. If the company approves your application for a credit card, then the information you’ve supplied is forwarded to the CRA. That credit card company also reports your payment history to the CRA, so that becomes part of the report. The CRA also has access to your public records such as court records.

All of the transactions you have that involve credit are reported monthly to CRAs by the merchants or creditors you deal with. Most large creditors report this information to all three national credit bureaus (CRAs). Some smaller lenders or merchants, however, may only report the information to one. For this reason, your report from each CRA may not be the same. You might get a copy of your report from Experian that does not include an account that shows up on your report that is maintained by TransUnion. For this reason, it is wise to review copies of all three reports.

You can find the contact information for all three national credit bureaus in the United States.

Equifax
To order your report, call: 800-685-1111 or write: P.O. Box 740241, Atlanta, GA 30374-0241
To report fraud, call: 800-525-6285/ TDD: 800-255-0056 and write: P.O. Box 740241, Atlanta, GA 30374-0241

Experian
To order your report, call: 888-EXPERIAN (397-3742) or write: P.O. Box 2104, Allen, TX 75013
To report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322 and write: P.O. Box 9532, Allen, TX 75013

TransUnion
To order your report, call: 800-916-8800 or write: P.O. Box 1000, Chester, PA 19022
To report fraud, call: 800-680-7289/ TDD: 877-553-7803 and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634-6790

Credit bureaus do not make the call on loan approval. They simply repeat what’s been reported to them without judging whether you’re good or bad. Your lender evaluates that information to make the final call. They might use a credit score, such as the FICO credit score, to help with the decision – but it’s still the lender’s decision.

While they often get a bad rap, credit bureaus make life easier when they function correctly. They allow you to borrow from people and institutions that you’ve never met before, and they help you get better loan rates if you can show a solid history of responsible borrowing.

If bad credit has left you without any credit cards, you will need to apply for one. Some good options include:
– Department Store or Gas Credit Card
– Secured Credit Card
– Your Local Bank Branch

Be careful when you apply for new credit. Make sure you don’t put in too many credit applications. It will affect your credit score, making it harder to get approved for new credit.

Watch out for bad credit cards that prey on people with bad credit. These credit cards often have high interest rates and extremely high fees that make credit unaffordable. A lot of people find themselves right back in debt with damaged credit after trying to rebuild with one of these types of credit cards targeting people with bad credit.

You should also avoid prepaid credit cards. While you can get a prepaid credit card regardless of your credit history, they don’t report to credit bureaus so using one won’t help your credit.

Build New Credit Habits
As the saying goes, “If you do what you always did, you’ll get what you always got.” To build new credit, you must replace your credit-damaging spending habits with some new ones. Otherwise, you’ll end up back where you’ve worked so hard to get away from.

Gone are the days of charging things you can’t afford, making minimum-only payments, and skipping credit card payments. Improving your credit score means staying well below your credit limit and paying your credit card bills on time.

Remember, what you used to do with credit cards led to bad credit. Get some better habits and watch your credit improve.

Replace Bad Credit With Good Credit
If practice really does make you perfect, the next step is to put your good credit habits into practice. Your bad credit won’t improve until you show your creditors that you have what it takes to build a good score. That means charging only what you can afford and paying your bill on time each month. During this rebuilding period, don’t take on too many credit cards as it can get hard to manage your balances and payments.

Make Your Payments on Time
If you continue to make late payments, the work Trinity Credit Services does for your credit report can be washed away. You should continue to pay your bills on time. If you have trouble paying your bills, you should investigate other options such as credit counseling, debt negotiation and consulting a bankruptcy attorney.

Get Your Credit Reports
Call Trinity Credit Services and one of our credit restoration counselors will go over your credit report line by line with you so that you know what needs to be changed.

Read the Fair Credit Reporting Act
It is important to know and understand the compliance requirements imposed on the credit bureaus. The requirements are codified in the Fair Credit Reporting Act (FCRA). Some people think that it is only necessary to spot and dispute the obvious derogatory errors, but that mistake could leave half of your potential improvement untapped. Trinity Credit Services will work on your file for six months using all our expertise in improving your file within the FCRA guidelines.

Read the Fair Debt Collection Practices Act
Trinity Credit Services also works within the guidelines of the Fair Debt Collection Practices Act to resolve any collection issues that you may have. We are able to stop collectors from bothering you and force them to validate their legitimacy and if they cannot, force them to remove erroneous and outdated entries on your credit report.

Having a bad credit score can reduce your chances of getting a loan, getting a new credit card or even getting a new job. To fix a bad score, it is beneficial to use a trusted credit repair company such as Trinity Credit Services.

We will go over your credit reports with you so we know what exactly you need to fix. Your credit reports contain information that lenders and other companies will see, so it is good to know what your credit report says about you. There could be inaccurate, outdated or misleading information on one or more of your credit reports that could be affecting your score in a negative way. We will help you dispute the information so that these items can be removed from your report.

According to the Fair Credit Reporting Act, you have the right to contact the credit bureaus and dispute questionable items on your credit reports. We have the highest success rate in the industry and we average from 60% to 100% deletion rate. Anything we get removed is removed permanently, so there are no worries of these negative or inaccurate accounts coming back on your report.

Trinity Credit Services has more than ten years experience in negotiating with creditors and disputing items on the credit reports of more than 40,000 customers with little to no complaints. We are there to assist our customers every step of the way. Call us today at 1-888-669-7372 to get started today.

Credit History Is Important

Lenders look at your credit history to determine if they want to lend to you or not. The three major credit bureaus compile your credit history and share it with credit card companies and lenders. If you have credit history, you have a credit score. Factors that determine your score include:

* Do you pay your debts back each month?
* How much debt do you have?
* How frequently do you apply for new credit?
* How long have you been a responsible user of credit?

If you routinely miss monthly credit card and loan payments or have lots of debt, your credit scores won’t be good. Also, credit newbies like college students are likely to have lower scores than those with nice, long, credit histories.

Good Credit Saves you Money

What’s the big deal? Who cares if you’ve wrecked your credit rating? Your credit rating is the key to getting approved for new loans and credit cards. If you’ve got great credit, lenders are likely to offer credit to you at a low interest rate. A good credit score can add up to major savings, especially on larger purchases like a house or a car. The difference between a 6% and a 9% interest rate on a 30-year $150,000 home loan, for instance, equals about $4,500 in the first year of payments alone.

Check Your Credit

So how do you know how good your credit is? Start by calling Trinity Credit Services for your free credit report consultation. Note that the law entitles us to our free credit reports, but not free credit scores. You can purchase any number of credit scores, but they will really only be estimates to give you a general idea of your credit rating. The only way to know the importance of any credit score is to ask the prospective lender which one they use.

Build Your Credit

Once you’ve reviewed your credit reports and scores, you can take steps to start building your credit. The absolute best way to do this is to pay your bills on time each month. If you do this and nothing else, you’ll achieve a good credit score within a few years.

Repair Your Credit

If your credit scores are low, call Trinity Credit Services for exceptional credit report repair.

If you are in between jobs, you may need to access lines of credit to pay your bills. Unemployment benefits are often not enough to cover your expenses, even when you make efforts to spend less. It is important that those people who face possible job loss know their credit scores and make sure their credit report is in good shape.

Why, you may ask?

These days it is increasingly difficult to get credit without a good credit score and those who are unemployed can’t afford the high interest rates given to those with bad credit. The good news is that filing for unemployment does not adversely affect your credit score, but the bad news is that being unemployed can make it even more difficult to get new credit, so you need to be prepared.

It is really important to think and plan ahead as much as you can. Your personal credit is one area where you can take a proactive approach. The first step is to get a free credit report and look for any mistakes or negative items. If you see things that need to be fixed, call Trinity Credit Services for your Free Credit Report Consultation.

When you are actively seeking employment, it also makes sense to take a look at your credit report. Many employers will ask to check your credit report before they will offer employment. As much as 80% of all credit reports contain mistakes, and it is up to you to make sure the information on the report is as accurate as possible. The last thing you want is to be turned down by a potential employer because mistakes on your credit report.

In the past, any score of 700 or higher would get a double thumbs-up from credit experts. Now, rate adjustments begin kicking in at 740, with every 20-point drop adding another adjustment.

What used to be a great score, is now only a good score.

If you need to get approved for a home loan and your credit score isn’t high enough, please give one of our credit experts a call. We have helped more than 20,000 people just like you repair and restore their credit score. Call 1-888-669-7372 to see what Trinity Credit Services can do for you!

Get New Credit
If bad credit has left you without any credit cards to use, the first step is getting one. If you’re credit score is low, you’ll have a hard time getting approval from a major bank. Fortunately, you still have some options. Here are some ideas:
- Department Store or Gas Credit Card
- Secured Credit Card
- Your Local Bank Branch
- Find Credit Cards for Bad Credit Scores

Be careful when you apply for new credit. Make sure you don’t put in too many credit applications. It will affect your credit score, making it harder to get approved for new credit.

Watch out for bad credit cards that prey on people with bad credit. These credit cards often have high interest rates and extremely high fees that make credit unaffordable. A lot of people find themselves right back in debt with damaged credit after trying to rebuild with one of these types of credit cards targeting people with bad credit.

You should also avoid prepaid credit cards. While you can get a prepaid credit card regardless of your credit history, they don’t report to credit bureaus so using one won’t help your credit.

Build New Credit Habits
You need to face facts and change your credit-damaging habits with new ones. No more charging for things you can’t afford, making minimum-only payments and skipping credit card payments. You need to stay well below your credit limit and pay your bills on time.

Replace Bad Credit With Good Credit

If practice really does make you perfect, the next step is to put your good credit habits into practice. Your bad credit won’t improve until you show your creditors that you have what it takes to build a good score. That means charging only what you can afford and paying your bill on time each month. During this rebuilding period, don’t take on too many credit cards as it can get hard to manage your balances and payments.

Rebuilding bad credit takes hard work and patience, but you can do it! If you need help repairing your credit, call Trinity Credit Services at 1-888-669-7372 for your Free Credit Report Consultation.

The Fair Credit Reporting Act allows every person in the United States to obtain a free credit report every year from the three credit reporting companies: Experian, TransUnion and Equifax. Even if you have a pretty decent credit score, there could be a couple errors one on of your reports that affect it slightly in the negative direction. In this case, it will be worthwhile for you to contact Trinity Credit Services to help you remove those negative items.

If you are young and working to start off on the right foot so that you don’t ever have to your credit, here are some important factors. The length of your credit history makes up fifteen percent of your credit score. So, if you are young, it is important to start creating a credit history for yourself. You can do this by getting a cell phone in your own name. You can also open one credit card, use it sparingly, and pay it off every month. Some people think that if they have a credit card they will ruin their credit score and put themselves into the position where they need to fix their credit immediately. Actually, having a card, using it, and paying off the balance on time every month is the best way to establish a good credit score. If you are responsible with your bills, paying on time and aren’t afraid to start a credit history for yourself, you will never have worry about how to fix credit.

Everything you do that involved credit becomes part of your credit history. You need to use credit responsibly to establish and maintain a good credit history. Buy how do you use credit responsibly?

1. Charge Only What You Can Afford to Pay
When you get into the habit of charging only what you can afford, it sends a signal to future lenders and creditors that you are a responsible borrower. You will find it easier to borrow money and get new credit when you show that you can pay back the money that you borrow. When you charge only what you can afford to pay back, it helps you avoid excessive debt.

2. Use Only a Small Amount of Your Available Credit
Maxing out your credit cards is one of the most irresponsible ways of using credit. Chances are that you won’t be able to pay off a maxed out credit card balance. Staying below 50% of your credit limit is wise, below 30% is best.

3. Start with Only One Credit Card
Many first-time credit card users accumulate a collection of credit cards within their first few years of using credit. This is not a good idea. The more credit you have, the more you’ll end up using. Learn how to be responsible with credit before you apply for additional credit cards.

4. Pay Your Balance in Full and On Time
If you’re only charging what you can afford to pay, this won’t be a problem. Paying off your balance each month shows that you’re capable of paying bills, something creditors and lenders want to see. Since a large part of your credit score includes timeliness of your payments, paying your balances on time improves your credit and is one of the easiest ways to maintain a good credit history.

5. Carry a Balance the Right Way
Having a credit card balance isn’t bad as long as you do it the right way. Make more than the minimum payment each month to pay off your balance as quickly as possible. Avoid making late credit card payments and continue to keep your balance at a reasonable level. If you follow these principles, carrying a balance won’t hurt your credit.

Home
When is comes to where you live, having good credit is very important. Mortgage lenders want to know that you won’t default on your mortgage. If you don’t have a good credit rating, the lender will probably consider it risky to give you a mortgage loan. This could result in paying a higher interest rate or even worse, denial of the loan.

Even if you are not on the market for a new home, your credit is still important when you rent. Landlords consider your lease as a loan. You are being loaned a place to live and the landlord wants to ensure that you will pay back this loan. If you don’t have good credit, you may be denied an apartment lease.

Transportation
Unless you have the cash to purchase a car, you’ll have to get a loan. Your credit not only affects whether or not you qualify for a loan, but also the amount and interest rate of the loan. Generally, loan applicants with good credit qualify for larger loan amounts with lower interest rates.

Employment
Many employers conduct credit checks as a part of the hiring process. If you haven’t demonstrated financial responsibility, a prospective employer might be hesitant to hire you. For example, the employer might believe your level of debt is too high for the salary offered.

Entrepreneurship
Many people have dreams of starting their own business. Most startup businesses require a sizable amount of cash that you might not have available. In that case, you’ll need to obtain a small business loan. Among other things, you need to have good credit to qualify for the business loan.

Utility Services
It might be shocking to learn that your credit is needed to establish utility service. Your electric company contends that you’re borrowing one month of electric service. So, before turning on your electricity, the company will check to see if you have good credit. This applies to most utility services including cable, telephone, water, and cell phone.

Since your credit is defined by how you’ve paid (or not paid) your bills in the past, many businesses – landlords, mortgage lenders, utility providers, and even employers – use your credit to predict your future financial responsibility. Anytime you need to borrow money, or even services, your credit is called into question. This is why maintaining good credit is so important. If you have bumps and bruises on your credit, contact Trinity Credit Services at 1-888-669-7372 for your Free Credit Report Consultation.

1. Charge-offs
Missing your payments for 6 months or more could cause your creditors to deem your account as uncollectible. When this happens, the creditor writes off the account and updates your credit report as “charged-off” or “written off and uncollectible.” Charged-off accounts remain on your credit report for seven years.

2. Debt Collections
Not only will creditors charge-off your account after a period of non-payment, they may also hire a third-party debt collector to attempt to collect payment from you. Your credit report may or may not be updated to reflect a collection status. Sometimes the debt collector places an entry on your credit report or the original creditor places a note on your report indicating the account is in collection status.

3. Bankruptcy
Filing bankruptcy allows you to legally remove liability for some or all of your debts, depending on the type of bankruptcy you file. Your credit report will reflect each of the accounts you included in your bankruptcy. Even though the bankruptcy information will remain on your credit report for seven to 10 years, you can sometimes begin rebuilding your credit soon after your debts have been discharged.

4. Foreclosure
If you default on your mortgage loan, your lender will repossess your home and auction it off to recover the amount of the mortgage. This process is known as foreclosure. When your home is foreclosed it can severely damage your credit, limiting your ability to obtain new credit in the future. A foreclosure will remain on your credit report for seven years.

5. Tax Liens
When you don’t pay property taxes on your home or another piece of property, the government can seize the property and auction it off for the unpaid taxes. Even if your home is foreclosed because of a tax lien, you are still responsible for the mortgage loan. Non-payment of the mortgage will also hurt your credit. Unpaid tax liens remain on your credit report for 15 years, while paid tax liens remain for 10.

6. Lawsuits or Judgments
Some creditors may take you to court and sue you for a debt, if other collections fail. If the lawsuit is accurate and a judgment is entered against you, it will remain on your credit report for 7 years from the date of filing, even after you satisfy the judgment.

Get Your Free Credit Report Consultation
It is difficult to improve your credit if you don’t know what your credit scores are. Call Trinity Credit Services at 1-888-669-7372 to get your Free Credit Report Consultation. Our Credit Experts will go over your credit reports with you line by line so you understand your current credit situation. If we feel that you could benefit from our credit repair services, you will have the option to go ahead with our credit repair services.

Clean up your credit report
Don’t take for granted that the information contained in your credit report will be accurate. Mistakes happen all the time. It’s up to you to correct those mistakes. If you have mistakes on your credit report, contact Trinity Credit Services and we can help you remove those trade lines from your credit report.

Get out of debt
If you don’t have a detailed plan for getting out of debt, you can expect to carry the debt for the rest of your life. Once you make the decision to pay off your debt, you can begin making a plan. Even if your plan spans ten, fifteen years or more, it’s better than not having a plan at all.

Repair your credit
Need to fix bad credit? What are you waiting for? The New Year is as good a time as any to start repairing your credit. First, figure out what’s causing your bad credit, then call Trinity Credit Services and we can help you improve your credit scores.

Use credit wisely
Have you been using credit in a way that encourages debt? Changing those spending habits won’t be so hard to do. At first, it will take conscious effort on your part. After making good credit decisions for a few weeks, you’ll find that good spending habits start to come naturally.

Improve your credit score
Your credit score influences whether or not you get approved for new credit cards and loans. It also affects the interest rate you pay. Lower credit scores risk denied applications or high interest rates. Improving your credit score improves your ability to get good credit card and loan terms. If your credit could use some improvement, Trinity Credit Services can help you improve your credit score by removing negative items from your credit report. Any and all of the results we achieve for you are permanent–guaranteed!

Learn more about credit
Many people learn about credit by making mistakes. That wouldn’t be such a bad way to learn if credit mistakes weren’t so costly. Spend some time this year learning more about credit and understanding the process. You’ll be surprised at how information can protect you from costly credit mistakes.

Improving your finances may be the best New Year’s resolution you can make. Remember, life is easier with excellent credit!

A credit repair company helps consumers repair their credit before they have to file bankruptcy and ruin their credit for years. A reputable credit repair company is not out for financial gain. They will help you for minimal cost and won’t charge monthly fees. If you are in over your head and do not know where to turn then a credit repair service is your best bet.

Trinity Credit Services is registered with the Secretary of State of Texas, 100% bonded and operates under the guidelines of the Federal Trade Commission and the Texas Finance Code. We demand validation and verification of derogatory information using the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Fair and Accurate Credit Transaction Act and the Health Insurance Portability and Accountability Act. These four laws have been established to protect consumers’ credit reports. Trinity Credit Services has helped more than 20,000 people restore their credit score.

When a credit repair company works to remove errors from your credit report it has to be done honestly and ethically. Trinity Credit Services steps in and makes contact with the various credit bureaus where you may have been turned away. We file paperwork and contact the bureaus on your behalf. Follow-ups are made to ensure that progress is being made.

Credit repair takes time and should not be expected to be a quick fix. We work on your file for up to 6 months. Most results occur within the first 45 days, but we will continue to work on your file for the entire 6 months. Our main goal is to improve your credit score so that you can save money with lower interest rates, you can apply and get credit and you avoid bankruptcy. The secret is to use credit wisely. If you do not change your habits, you can end up in the same situation all over again.

Call Trinity Credit Services for your Free Credit Report Consultation. One of our expert credit consultants will review your report and see if there are any negative items or errors impacting your credit scores.

The following are some helpful tips on what you need to know about budgeting:

1- Determine how much your monthly income is and total up your monthly expenses.
Now you should start making some changes in your expenses. It depends on your situation how much you will have to change. If you have huge debts you will need to cut down bigger things like you car or the way you live. If it is not this bad you can start with smaller things like your mobile phone expenses and other recurring payments.

2- Reduce you existing debt
People often forget that they have existing debt that needs to be reduced. Debts always cost money so it is always a good idea to reduce debt as much as possible.

3- Save for future expenses
Its also a good idea to save money for expenses that might happen in the future. It will always be better and cheaper to pay them out of your own pocket in stead of having to use credit which is expensive.

4- Set Financial Goals
There are several advantages to sticking to your budget. Firstly, most people have set financial goals that they would like to reach in the future. Sometimes it may be a trip, a brand new car, or a college education. A budget can help people save money to make these goals a reality.

With a little planning, you’ll be on your way to saving more money than you ever thought possible. The success depends on your budget and sticking to this. It will allow you to do your necessary expenses, pay back existing debts and, as said before, to save money.

As these figures do change, it is important that the budget changes to reflect the adjustments. There could be some major deficits if this is not done appropriately and promptly. Staying on top of a budget and making changes to it as it becomes necessary is a good way to maintain the right budget and continue getting ahead.

Now you have information that may help you to make a financial plan and stick with it. However, there are still times when things come up that wasn’t on the budget and could put people at risk of getting behind.

The Fair Credit Reporting Act (FCRA) requires businesses to have an acceptable reason for accessing your credit report. Some of the acceptable reasons include:

* To grant credit
* Collect a debt
* Underwrite insurance
* Employment
* License issuing by some government agencies
* Legitimate business transactions

Companies who obtain your credit report under false pretenses or those who use it improperly violate federal law.

Hard and Soft Inquiries
Not all inquiries that appear on your credit report affect your credit score. Inquiries that are made because of an application you made for credit are the ones that affect your score. These voluntary, or “hard”, inquiries are the only credit inquiries that count towards your credit score.

When you review your credit report, you might notice that several inquiries appear from businesses to which you didn’t apply for credit. Other businesses might check your credit report because they want to offer goods and services to you. For example, creditors who send “pre-approved” credit card offers have often checked your credit report first.

Credit inquiries are also made by potential employers, businesses that you already have credit with, and yourself. None of these “soft” inquiries count towards your credit score.

Your version of your credit report includes all inquiries. When lenders and creditors look at your credit report, only the voluntary inquiries appear.

How Inquiries Affect Your Score
Inquiries on your credit report can indicate your risk as a borrower. Too many inquiries might mean that you’re taking on too much debt or that you’re in some kind of financial trouble and are looking for credit to help you out. Several hard inquiries can reduce your credit score.

Depending on how much information you have in your credit report, an additional inquiry might not affect your credit score at all. On the other hand, if you have a short credit history without a lot of accounts, an additional inquiry could cause your score to drop by a few points.

Credit report inquiries will remain on your report for two years, but only those made within the last year are included in your credit score calculation. The most recent inquiries have the most effect on your score.

Inquiries And Rate Shopping
When you’re shopping around for mortgage and auto loans, you want to get the best rate. You might worry that having your credit checked by several lenders could hurt your credit score.

The good news is that most credit score calculations treat all mortgage and auto inquiries as a single inquiry, as long as the inquiries are made within a certain period of time. For the latest version of the FICO score, this period is 45 days.

The problem is that it takes time to get credit, build credit and it also takes time to ruin credit. None of it happens overnight. So, the expectation that it can be fixed overnight is outlandish. This process operates on a specific time line. You need time to let the laws of our country work on your behalf. In most cases, we see results within the first 30-45 days, so patience is key when it comes to credit restoration.

You never know when you may need credit. It is often a good idea to begin the credit repair process before you need the credit. Don’t think about fixing your credit 30 days before you buy a house or car. It pays to think and plan ahead.

So save yourself some stress, save yourself some agony, and learn where others have failed to learn. Exercise some patience in credit repair and you will receive excellent results.

When you have a good credit score, credit is available to you and the rates that are charged for the credit will be low. When you have a bad credit score, credit is harder to get and the interest rate is high because you are considered a risk to the lender.

When you need credit for a house or car, it is important to know what is on your credit report. If you have negative items on your report, it is good to repair credit issues that may hurt your credit. You able to obtain 1 free credit report annually from each of the 3 main reporting services.

Once you have your credit report, look it over to see if there are any discrepancies to help improve credit score. Often there may be one or two things that need to be corrected.

Credit reporting agencies are required to respond to a inquiry within 30 days and will usually come back with 1 of 3 responses.

1. The credit entry has been changed.

2. The creditor verified the dispute item as good and it stays on the record.

3. They received the request but needs more time to investigate.

In addition, if they do respond and made some changes, you are able to request for a follow-up credit report for free within 6 months of the change to double check that the disputed item has been removed or updated. However, they won’t send it out without a request so if you want to check to see if and when credit information is updated, then request for a new copy of the credit report after a disputed item has been changed.

They have revealed how 5 common credit mistakes will affect your credit if your score is an excellent 780 and if your score is a good 680. Here are the results:

Of course, this is just a guide and is definitely not a guarantee. People with the same credit score can have very different profiles. One person may have a short credit history and fewer accounts versus someone with a long credit history, more accounts and more use of available credit. Because of these differences, the same action—maxing out a credit card—can have different effects on people with the same score.

For more information about how these common mistakes affect your credit score, click here.

If you have any of these mistakes on your credit report, call Trinity Credit Services at 1-888-669-7372 for your Free Credit Report Consultation. We operate 100% legally and offer guaranteed permanent results.

Annually you should review your credit reports and verify the following information:

- Your social security number
- Your name/names if you are/were married
- Your date of birth
- The names of places where you have worked
- The addresses where you have lived
- Your closed and pending accounts
- Records of your delinquent payments along with other problems
- Any negative information

You should check your credit report information well in advance before applying for a major loan.
Here’s a guideline on how do it.

- While applying for an auto loan, you should check your report before you start shopping for favorable loans.

- Check your credit report at least 3-6 months prior to applying for a home loan.

- You should check your report just before applying for new credit cards.

If you detect any mistake in your credit report information, you should send a letter to the agency where you’ve found the error to repair your credit rating. Make sure you explain the situation in details and also send a copy of your report, highlighting the incorrect information. It is the duty of the particular credit reporting agency to investigate the error and remove it as soon as the creditor admits it. If you are not successful in getting negative items removed from your credit report, call Trinity Credit Services at 1-888-669-7372 to get your FREE credit report consultation.

There is a common misconception that all credit repair companies are an illegal scam. This is simply not true! Trinity Credit Services has helped more than 20,000 people restore their credit legally under the guidelines of the FTC. We offer legitimate services to ordinary people that require assistance in dealing with the inaccuracies on their credit report.

Hiring a credit repair company is much like:

* Taking your car in for an oil change
* Hiring a lawn care service
* Hiring household help

Everyone has their own reasons for doing this. Some people may take their car to a mechanic for an oil change because they simply do not know how to perform an oil change, they don’t have the time or equipment to do it themselves or they simply prefer to leave their valuable car in the hands of a professional. However, there are some people that would have absolutely no problem changing the oil in their car.

Even if someone hires a credit repair company to work on their reports, a client still has to be responsible during the process. It is very important for the client to make a conscious effort to avoid adding new negative items to their reports.

Especially in these economic times, more patience is needed when repairing your credit. There are usually some setback to the process when a new late payment is added to the credit reports, but this can be overcome by using responsibility and patience.

There are many self help resources available online for those who wish to repair their own credit. Most of the available resources are fairly complete and can aid greatly in the process, however the specific laws regarding credit repair and the laws that the credit bureaus must follow are often difficult to comprehend, which is why most people tend to leave this to professionals.

Step 2
Get a year-end statement from your credit or debt card company that categorizes your purchases. This will give you a clear idea of how you are spending your money and it may give you some possible ideas of ways you can cut back.

Step 3
Keep your eating habits under control. Holiday food can ruin your waistline and budget. Make inexpensive meals between the parties and family celebrations. Check online for coupons and promotions. Take your lunch to work or skip an occasional meal.

Step 4
Create a budget. Calculate how much you can afford to spend on gifts and charitable donations. Once you create a budget, stick to it. If you have a large family, suggest that you draw names and limit the cost of each gift to $20-$50.

Step 5
If you have accumulated reward points from your credit cards, spend them on gifts for the people on your list.

Step 6
Avoid dipping into your retirement savings plans or other savings accounts. This may be better than increasing your credit card debts, but both should be avoided.

Step 7
Be creative. Instead of buying something your friend won’t like or use, how about offering to babysit their kids while they enjoy a fun evening out. Handmade gifts from the heart are often affordable and appreciated by friends and family.

Step 8
If you have a low credit score, give yourself a priceless gift this holiday. Call Trinity Credit Services at 1-888-669-7372 for your Free Credit Report Consultation. Restoring your credit score can potentially save you thousands of dollars on your mortgage, car and credit card payments.

Step 9
Make it your New Year’s Resolution to take control of your finances. When you become a client of Trinity Credit Services, you will have access to our credit education information. Life is easier with excellent credit.

Due to the fact that 80% of credit bureau employees, collection company employees and creditors take vacation from November to January, you have a huge advantage when you take action to restore your credit during this time of year.

Under the federal Fair Credit Reporting Act, credit reporting agencies must reply within 30-45 days from the time we submit your dispute. Because there is a time frame that legally must be adhered to for both the credit bureaus and the lenders/creditors who must verify any items you are disputing, November and December are the optimal times to work on repairing your credit and getting negative items removed.

At Trinity Credit Services, our goal is the same as yours: to restore your credit score in the fastest time frame possible. The best gift you could give yourself is excellent credit, so call us today at 1-888-669-7372 to get started.

If you are faced with a dropping credit score, the first thing you need to do is to access the damage. Look through all your credit account and bank statements to find out how you got into this situation. It is important to make sure you know how you got there, so you don’t end up there again. You must break your bad credit habits, unless you change your lifestyle, the results may not ever change.

Now you need to look at how you spend your money. Begin with your basic living expenses. Only include the items you can’t live without. Now create a column with your average take home salary for one month. Subtract each expense. Rent or mortgage, car payment, utilities, phone, etc. What is left is your discretionary expenses.

Now you need to calculate the how much you spend on groceries per month and subtract that amount. Your groceries aren’t really discretionary, but you may be spending too much on food. If you have children with extra-curricular activities, subtract those expenses next. These are the discretionary expenses you can least live without.

Hopefully at this point you still have a positive balance. If not, you are in real trouble and probably need some professional intervention. Now, you need to take a look at what is left and what outstanding expenses are left. Add up the remaining expenses and subtract from your balance. What does your balance look like now? Look at your ATM withdrawals, dining out, entertainment and other ways you spend your money. Somewhere in there you should locate your problem.

A list of common culprits and their remedies:
• Excessive ATM withdrawals – Place yourself on a ‘cash’ allowance by getting a set amount of cash each payday and limiting yourself to only that amount.
• Impulse buying – It is easy to get caught up in excessive impulse buying. You may need to make yourself stay at home instead of going to the mall. Only go out to shop when there is a viable reason to do so.
• Eating out or going out too much – This one is a real budget buster! You are going to have to budget your dining out and entertainment expenses and stick to the budget. Invite friends over instead and have potluck!
• Credit card payments eating up your discretionary funds – This is an all too common culprit in this day and age. Accepting too many offers with inviting rates or terms can leave you with major payments on maxed out cards where making the minimum payments doesn’t really solve the problem. It is time to consolidate and alleviate the problem debts.

Some more difficult culprits and remedy suggestions include:
• Living above your means – This one is easy to create and harder to alleviate. Downsizing is your only answer. Trade the luxury car or SUV for one more economical and with lower payments; renegotiate a new payment plan with your mortgage company or find a home with less rent; cut out the New York strips on the grocery list and settle for a nice sirloin roast instead; and try clipping coupons. Pay off high interest credit accounts.
• Adjustable Rate Mortgages – With the state of the economy in recent years and the issues of the housing market, an adjustable rate mortgage may be killing your budget. A wildly fluctuating market can mean a house payment gone wild. Before foreclosure hits you, call your mortgage company and renegotiate your terms. They will work with you.
• Lots of Insufficient funds or courtesy pay fees – If you consistently get charged overdraft fees or courtesy pay fees (where the bank pays the draft for a fee) and especially right before payday then you can get caught up in a vicious cycle, where eventually your entire paycheck is going towards these fees, then all legitimate payments start getting behind. This one is an easy fix really, but can be embarrassing if you do not keep a tight rein on recordkeeping. Call your bank and tell them you want to opt out of courtesy pay. Just remember that you must do regular and detailed recordkeeping to keep from having a check returned or a debit card payment denied.

There may be other reasons or a combination of reasons for the downfall of your credit; but by this point you should be able to see the cause. If you need increasing your credit score, call Trinity Credit Services at 1-

Be very cautious of:
1. Companies that charge low monthly fees; Most of these companies will drag their feet to prolong the process in order to charge you more money in the long run, and probably not even produce many improvements.
2. Companies that do not inform you of your legal rights and what you can do on your own for free.
3. Companies that discourage customer contact with the credit bureaus.
4. Companies that guarantee removal of ALL negative items. No company can legally or ethically guarantee to remove all of your negative accounts, however they can offer a money back guarantee.
5. Companies that send you unsolicited emails, many of these come from fraudulent sources.
6. Companies that cannot or will not help your obtain your credit reports.
7. Companies that are not registered with the Secretary of State and bonded.
8. Companies that do not provide you with a general time frame for your case. Most cases can be completed in about 6 months.
9. Companies that urge you to create a new credit profile by applying for an EIN (Employer Identification Number). This is illegal.
10. Companies that advise you to lie on loan applications or suggest you establish a different identity. This is not only dishonest, it is illegal.
11. Companies that promise to pay your creditors from money you pay them that is placed in an escrow account. This proposition is merely a scam, and the debtor is the loser.
12. Companies that try to pressure you to join their program without providing you with a contract.
13. Companies that claim to repair your credit within a few days or a month. Your credit was not ruined overnight and it will not be fixed overnight!
14. Companies that have a 900 phone number should be avoided at all times. Any reputable company would have a toll-free number.
15. Use common sense! If it seems too good to be true, it probably is!

Make sure your credit report is accurate. Errors are very likely to appear on your credit report after bankruptcy because many of your open accounts are affected by the filing.

Begin to build positive credit history and positive credit rating by obtaining a secured credit card. You will need a revolving credit line to prove your credit worthiness. You can deposit several hundred dollars with a bank and receive a credit limit equal to the amount you deposited.

Get an installment loan you can afford. Home, auto and student loans that are repaid on time can really help your credit. Be prepared to have high interest rates until your credit score improves, at which time you should try to refinance.

Pay off any credit card debts in full each month to show potential creditors your spending and repayment habits have changed. Never get loans you aren’t completely sure you can repay on time, or you could be back in bankruptcy court in the near future.

If you have a bankruptcy, Trinity Credit Services can help you remove it from your credit report so that you will be able to qualify for new credit. Call us at 1-888-669-7372 or fill out our online form for your FREE Credit Report Consultation.

Depending on the kind of position you’re looking for, a high credit-card balance and a few late payments — which may have happened because you’ve been out of work — now threaten your chances of receiving a job offer.

Many employers run credit checks on job candidates. Most often credit checks are due diligence on potential employees who have some contact with money, from bank teller to CFO.

One could also conclude that some companies use pre-employment credit screening as a way to gauge a worker’s judgment and character, regardless of job duties. This helps ensure that the company will hire only the “highest quality individuals.”

Even if you won’t be handling money directly or indirectly, assume a potential employer will check your credit.

Here are some tips:

Know what you’re signing. Sometimes you may unknowingly sign an agreement authorizing a credit check because it gets lost in a stack of documents that’s dumped in front of you in a pre-employment interview. If you don’t know what you’re expected to sign, ask. And don’t be afraid to ask why the credit check may be relevant to the job.

Don’t be surprised. It’s important to know what employers might be looking at. A company may query any one of the credit reporting bureaus — Experian, Equifax, and TransUnion — so it’s important for you to check them all as well. But don’t be fooled by highly advertised “free” credit report services; often they’re not free at all.

Fix errors. The U.S. Public Interest Research Group found that as many as 80% of credit reports contain errors, and one quarter of the time the flubs were serious enough to result in people being denied favorable interest rates, and in some cases, jobs. If you find errors, it’s up to you to contact the credit reporting company and document the correct information. Understand that changes to your credit reports can take 30 days or more to show up, so plan ahead.

Be honest. As you would with gaps in your resume, be upfront and proactive about explaining dings to your credit.

Develop a Long-Term Plan

Keeping your credit score high can help ease your mind when you’re looking for a job. How do you ensure your credit report is (nearly) spotless?

* Pay on time and don’t use most of your available credit. These are the two areas employers would care about most, because they speak to your ability to manage money and be responsible.

* Check your credit limits. Companies are lowering credit limits on even their best customers. If you thought you had an available line of $10,000 and a balance of $4,900, and suddenly your credit line is lowered to $5,000, your credit report will now say you’re maxed out. If that happens, pay down the balance as quickly as possible.

* Don’t cut up credit cards. Unused credit can quickly go into “hibernation,” meaning the lender has no activity to report to the credit bureaus, not even positive news about your credit use.

* Don’t close your oldest accounts. Having an account that goes back many years helps your credit longevity as well as your debt-to-available-credit ratio.

Tradeline Data
In any single tradeline there may be two or three inaccurate pieces of information that can harm your credit score. Without expert knowledge of the credit scoring model and the ability to read tradeline data, you will miss these inaccuracies. Here are some tips:
• Make sure that all credit cards report the proper limit and balance. When your limits are inaccurately low or your balance inaccurately high, your available credit is artificially decreased and your scores will drop.
• Make sure that each open positive tradeline reports to all three bureaus. When one bureau does not report positive information that bureau will have a lower score.
• Duplicate accounts and closed accounts reporting as open, will lower your scores by artificially increasing your outstanding debt.

Collections
A common error with reporting collections occurs when collections are sold over and over again to different collection agencies. It is very common to see one debt reporting several times. Each duplicate reporting may hurt your scores by 20 points or more. Only the current holder of the debt is legally allowed to report at any one given time. This problem can only be fixed by contacting the credit bureaus with a dispute or waiting seven years for them to fall off.

Disclosed for the 1st time, ‘damage points’ taken off for late payments
Borrowers already knew that late payments hurt their credit scores, but for the first time, they now know the extent of that damage.

Did you max out your credit card? Expect a credit score drop of 10 to 45 points. Declare bankruptcy? Your score will plummet by up to 240 points, and your odds of getting credit will nosedive with it.

The “damage points” data, unveiled recently by FICO, are part of the most revealing glimpse into the firm’s once-secret — and still mysterious — credit scoring model. The new information discloses how many points borrowers’ scores will drop when they make the most-common mistakes.

‘Help People Understand’ Scores
“I hope this information will help people to better understand FICO scores and the value for them of avoiding credit missteps. It illustrates key points such as the higher your score, the farther it can fall if you stumble,” says FICO spokesman Craig Watts. “Getting and maintaining a good score isn’t complicated. We all just need to pay our bills on time, keep credit card balances low and take on new debt sparingly.”

The greater transparency about FICO scores is important because American consumers’ ability to get credit rises and falls with the number. FICO, the company that pioneered credit scoring, assigns consumers a three-digit number from 300 to 850, depending on how well they handle credit. Other companies also offer scores, but FICO’s version is the most widely used by lenders in determining whether a consumer can borrow, and at what rate.

FICO’s credit score has been around for decades, but only within the past decade have consumers gradually gained access to theirs. Though the raw numbers can be purchased, how they’re figured remains a FICO secret, as closely guarded as the formula for Coca-Cola. Until Thursday, FICO revealed only broad categories of factors influencing the score, but not the number of points at stake for consumers who fail to pay as agreed. The “damage points” information, revealed in a report by personal finance writer Liz Pulliam Weston, will be made available through its myFICO.com Web site starting this weekend.

FICO’s information shows that bankruptcy does the most serious damage to a credit score (up to 240 points), followed by foreclosure (up to 160 points) while maxing out a credit card has the least numerical impact (as few as 10 points).
Those with good or excellent credit — so-called prime borrowers — put more points at risk with each mistake. For example, someone with an average credit score of 680 who pays a bill 30 days late will see a drop of 60 to 80 points. But for someone with an excellent credit score — 780 — that same delinquency can send a FICO score tumbling by 90 to 100 points.

The Cost in Dollars
In order to show just how badly a drop in your FICO score can hurt your wallet, we spoke with members of the home mortgage, auto and credit card lending industries. We presented hypothetical scenarios of a consumer who decided to apply for a $200,000, 30-year mortgage; a $20,000, five-year auto loan and a credit card. While all the industry insiders stressed that a FICO score isn’t the only factor in determining who gets credit and at what cost (other factors they cited include the borrower’s debt-to-income ratio and whether they have already established a relationship with the lender), they were able to provide an idea of what a borrower who had the following credit scores could expect.

For a Consumer Who Started With a FICO Score of 780:
• Following a 30-day late payment, the consumer’s car loan rate would jump nearly 3 percent, costing the borrower $26 more each month.
• Following a debt settlement, the consumer would pay as much as $109 more each month on a home mortgage.
For a Consumer Who Started With a FICO Score of 680:
• Following a 30-day late payment, the consumer would pay $41 more each month for a car loan.
• Following a 30-day late payment, the consumer would pay as much as $95 more each month on a home mortgage.
• Following a debt settlement, the consumer would no longer qualify for a credit card.

Some Surprised By the Details
Consumer advocates say it’s important for borrowers to know what can damage their FICO scores. “If they know it in advance, they won’t go out and step in a pile of doo-doo. They won’t go out and do some of these things,” says Linda Sherry, director of national priorities with advocacy group Consumer Action. Even experts found some surprises in today’s news. “FICO imposes bigger hits than I would have thought for being maxed out or 30-days late just once, reinforcing my view that it is a cruder, blunter instrument than they like to claim. Nevertheless, it is a powerful, widely used crude blunt instrument,” says Ed Mierzwinski, consumer program director for the U.S. PIRG consumer advocacy group.

Of course, knowing the impact on a FICO score and actually avoiding these mistakes are two separate things: Amid rising unemployment and other daily financial struggles, paying bills and staying on-track financially becomes a much bigger challenge for many borrowers.

“Some of these things are out of their control,” Sherry says of consumers.
Additionally, as Weston points out, consumers with identical FICO scores can have different credit histories. That means the same slip-up — such as maxing out a credit card — could have different impacts on consumers who have the same FICO score. In the examples they provided, FICO assumed each borrower had several active major credit cards, a mortgage, car loan and student loans.

Sherry acknowledges the benefit of putting a number to a financial blunder. “I don’t think we necessarily knew the numbers that a bankruptcy could apply to a credit score,” Sherry says.

Helping You Make Better Decisions
While knowing the numbers may not keep you filing for bankruptcy if given no other choice, the information may help you make the best decision when faced with a bad situation.

FICO scores — and the access to credit they provide — are a valuable asset to consumers and supply a safety net when incomes are stretched. It’s an asset that needs to be protected, Sherry says, even if job loss or catastrophic illness makes bill paying problematic.

“In that period of time, paying down debt is the last thing on your mind. Paying the minimum payment may also be the last thing on your mind, but you’ll be doing yourself a big favor if you do,” Sherry says.

Managing your credit can be tricky, even when you’re the only person involved in your financial decisions. Add a new spouse to the mix, and you have to be extra careful to ensure your credit remains in good standing.

For many engaged couples, talking about finances takes a back seat to the excitement of wedding planning. But, before saying “I do,” you need to be aware of the credit issues that could arise with a new marriage.

First of all, both you and your spouse should put all your financial records – savings, salaries, investments, real estate, and especially credit – on the table. If one of you has a less-than-glowing credit history, it will affect the other as soon as you start applying for credit together and opening joint accounts. In addition, your new joint accounts will appear on both spouses’ credit reports in the future, so be sure to pay careful attention to your bills and pay them on time.

Once you’ve aired your credit laundry, you’ll need to decide whether or not to merge all of your financial accounts. Many couples do this because consolidated accounts often make for easier record keeping. Just remember, both of you are responsible for all debt incurred in any joint credit accounts. So, regardless of who’s incurring debt, a missed payment on a joint account will negatively affect both of your records. The same is true in community property states, where virtually any debt entered into during marriage is automatically considered joint. Consider also if you miss a payment on an individual account, that payment may very well impact your ability to open joint accounts because both credit histories will be considered.

The best way to keep your record clean starts with a solid understanding of the terms of your joint accounts. That means paying attention to interest rates, credit limits, annual or late payment fees and cash advance limits. If you decide to consolidate your accounts, you might want to keep at least one credit account in your own name as a safeguard in the event of an emergency. Keeping an individual account can also be a good thing in the event of divorce to reestablish an individual credit history.

Women, who take their husband’s surname after getting married, need to notify the Social Security Administration and their current creditors of this change. You do not need to notify the credit reporting agencies of a name change. They will automatically update the name on a credit report when creditors report it.

The key to successful credit management, as a couple, is understanding that your individual credit behavior affects both you and your partner. To ensure that you are able to quickly get credit at the best possible terms, be sure you both understand all the implications that accompany a joint account. In addition, consider how the payments stemming from a major credit purchase will affect your overall budget.

Divorce
With divorce and separation come new experiences and responsibilities. Suddenly words like “child support payments” and “100 percent liable for bills” enter the picture. If you ignore your increased financial obligations or fail to separate your accounts, it may be hard to open new accounts and obtain new loans in your name. But there are many moves you can make to protect and restore the good credit that took years to build.

Protect your good credit
Your divorce decree does not relieve you from joint debts you incurred while married. You are responsible for joint accounts, from credit cards and car loans to home mortgages. Even when a divorce judge orders your ex-spouse to pay a certain bill, you’re still legally responsible for making sure it is paid because you promised – both as a couple and as individuals – to do so.

The credit granter (a bank, credit card issuer, mortgage company or other credit-lending business) also has a legal right to report negative information to a credit reporting agency if your ex-spouse pays late on a joint account. If your ex-spouse doesn’t pay at all, you’ll probably have to pay – or the grantor can take legal action against you.

• Close or separate joint accounts. If you can talk to your ex-spouse, you can save a lot of grief. Analyze all your debts and decide who should be responsible for each. Call your creditors and ask them how to transfer your joint accounts to the person who is solely responsible for payments. However, you still might have legal responsibility to pay existing balances unless the creditor agrees to release you from the debt.

• Take stock of your properties. You may have to refinance your home to get one name off the mortgage. Or you might need to sell your home and divide the proceeds.

• Keep paying all bills. Until you can separate your accounts, neither of you can afford to miss a turn paying bills. During divorce negotiations, send in at least the minimum payment due on all joint bills. Miss even one payment and it stays on your credit profile for up to seven years, making it hard to obtain new credit in your own name. Beware of well-meaning friends and relatives who may tell you to ignore making payments or to run up debts. Always make all payments with at least the minimum due.

Establish credit independently
Start small and build up. Get a credit card that has a small credit limit, perhaps from a local department store or financial institution. Then always pay your bills on time so your credit history will be excellent. After six months, apply for another card and continue paying bills consistently. Don’t run your debt up beyond what you can afford to pay. It’s a winning strategy that’s easy to master.

Ask a family member or friend to cosign. Perhaps a relative or friend with an established credit history can cosign your loan or credit application – provided you repay that cosigned debt on time. Remember, any transaction also will show up on the cosigner’s credit profile. After a few months, try again to get credit on your own.

Consider applying for a secured credit card. You must open and maintain a savings account as security for your line of credit. Your credit line is a percentage of your deposit. Beware of the extra fees you may have to pay for secured credit.
Bankruptcy is a last resort

Bankruptcy should be the last move to make if you get in over your head.
• It’s not an easy way out. Filing for bankruptcy is no guarantee that it will be granted because a court judgment must be made. Even if all you do is file your bankruptcy papers with the court, it gets reported on your credit profile.
• Not all debts are included in bankruptcy. Things like alimony, child support, student loans and taxes secured by liens still must be paid consistently.
• Bankruptcy remains on your credit history up to 10 years. While a declaration of bankruptcy removes many debts, any reference to filing, dismissal or discharge still appears on your credit history for up to 10 years. During this time, you’ll find it more difficult if not impossible to get a new mortgage, personal loan or a credit card.

Consider mediation
Mediation can make things much fairer by helping you and your ex-spouse work out a reasonable and equitable divorce agreement. If you’d like help finding a mediator, contact the American Arbitration Association. To locate an attorney, check with your state or local Bar Association.

Death of a spouse
If you’ve lost a spouse, you’re already going through one of the most emotionally draining experiences possible. When a loved one dies, there are also numerous financial matters to deal with, including credit and debt issues. There are, however, some simple steps you can take now to help down the road.

Stabilizing your credit in the event of a death can be difficult, especially if your spouse held all of the credit in his or her name. Keep in mind that in community property states, credit accounts opened during marriage are automatically joint. That means you are still responsible for any debt that your deceased spouse incurred.

By law, a creditor cannot automatically close a joint account or change the terms because of the death of one spouse. Generally, the creditor will ask the survivor to file a new credit application in his or her own name. After reviewing the new information, the creditor will then decide to continue to extend credit or alter the credit limit. You might want to open a new credit account in your name. In doing so, keep in mind that you must use your name only when applying. Including your deceased spouse’s name will result in a joint account. Experian automatically updates its records with periodic reports from the Social Security Administration. When the update is made, your spouse’s credit history will be flagged to show that he or she has passed away and their name will be removed from any pre-approved credit offer mailing lists.

Sources of fraud
Just as there are various types of credit fraud, there are also different ways that credit thieves gather your personal information:
• Using lost or stolen credit cards
• Stealing from your mailbox
• Looking over your shoulder
• Going through your trash
• Sending unsolicited email
• False telephone solicitation
• Looking at personnel records

Discovering fraud
There are several warning signs that credit fraud may be occurring:
• Your credit report contains inquiries or information about accounts that you did not open
• Strange charges show up on billing statements
• Bills arrive from unknown or unfamiliar sources
• You receive calls from creditors or collection agencies

Suggestions for victims
If you believe you are a victim of fraud, you may find the following suggestions helpful:
• Protect yourself: A 90-day security alert gives you time to verify if you are a victim of fraud. If you determine you are a fraud victim, you may add a 7-year victim statement to your credit report.
• Inform creditors: Contact each creditor with the fraud account and inform them that the account is fraudulent.
• Document all contacts: Make notes of everyone you speak with; ask for names, department names, phone extensions and record the date you speak with them.
• Understand the process: Each creditor may have a different process for handling a fraud claim. Make sure you understand exactly what is expected from you, and then ask what you can expect from the creditor. At the conclusion of an investigation, ask the creditor for a document that states you are not responsible for the debt.
• Follow up: Make sure everything a creditor/credit reporting agency has requested is received. It is always a good idea to place a follow up call or send a letter for confirmation.
• Review reports regularly: Obtain another report several months after you believe everything is cleared up. If a new fraudulent account is discovered, you know how to handle it. If your credit report is back to normal, you can feel confident that all issues were resolved as you expected. It would be a good idea to check your credit report again in six months and a year later.
• Don’t throw away files: Keep all notes and correspondence in an accessible file in case they are needed in the future.
• If you feel you have enough information pertaining to the fraudulent activity, then it would be recommended that you file a formal police report. A police report can help protect you if you need to pursue legal action in the future. Consult your local police dept for more information.

Plan for emergencies!

It is critical to set up and emergency savings fund and contribute to it regularly. You never know when you may need the money for unexpected things that may come up. Having some extra money will ensure that you have money so that you can still honor your credit agreements in spite of any unforeseen challenges.

Unfortunately, creditors don’t care what your situation is. If you’re late on a payment, they’re going to report it as late, and that late payment will remain on your credit report for 7 years. It will also have an impact on your credit score for the first two years. That’s pretty harsh for just one 30 day late payment, but that’s how it works.

What if you don’t have credit?

If you have not yet established credit, or you do not use credit, it’s in your best interest to apply for one or two cards. It takes about 2 years to really establish a credit history with enough information in it for a lender to make a risk-based decision for large purchases. You do not have to keep a balance on your credit cards if you’re adverse to credit. Just charge a small amount every other month or so and pay off the balance. This will ensure the account remains open and active with the creditor, and updates will be transmitted to the credit bureaus accordingly, which will give you the credit history you need, along with a good credit score.

If you are trying to re-establish your credit, and you cannot qualify for a traditional credit card, then one option that is guaranteed for you is to obtain a “secured card”. With this type of card, you deposit typically $300 to $500 in an account with the creditor and that amount becomes your credit limit. Because you are using your own money, there is no risk to the creditor.

Number Rating
R0 Too new to rate. Approved but not used.
R1 Account in good standing. Pays within 30 days of billing or as agreed.
R2 Pays in more than 30 days, but less than 60 or when next payment is due.
R3 Pays in more than 60 days, but less than 90 or when two payments are due.
R4 Pays in more than 90 days, but less than 120 or when two payments are due.
R5 Account is at least 120 days past due but is not yet.
R6 No rating exists.
R7 Paid through a consolidation order, consumer proposal or credit counseling debt management
program.
R8 Repossession.
R9 Bad debt, tax lien, charge-off, placed for collection or bankruptcy.

Each item on your credit report carries a corresponding ratings number that
summarizes your account status.
R – Revolving Account
I– Installment Loan
I0 – Installment Loan with no Payments Yet

Call us at 1-888-669-7372 for your FREE Credit Report Evaluation.

Credit scores have made big improvements in the credit process.
Because of credit scores:

People Can Get Loans Faster
Scores can be delivered almost instantaneously, helping lenders speed up loan approvals. Today many credit decisions can be made within minutes. Even a mortgage application can be approved in hours instead of weeks for borrowers who score above a lender’s “score cutoff”. Scoring also allows retail stores, Internet sites and other lenders to make “instant credit” decisions.

Credit Decisions are Fairer
Using credit scoring, lenders can focus only on the facts related to credit risk, rather than their personal feelings. Factors like your gender, race, religion, nationality and marital status are not considered by credit scoring.

Credit “Mistakes” Count for Less
If you have had poor credit performance in the past, credit scoring doesn’t let that haunt you forever. Past credit problems fade as time passes and as recent good payment patterns show up on your credit report. Unlike so-called “knock out rules” that turn down borrowers based solely on a past problem in their file, credit scoring weighs all of the credit-related information, both good and bad, in your credit report.

More Credit is Available
Lenders who use credit scoring can approve more loans, because credit scoring gives them more precise information on which to base credit decisions. It allows lenders to identify individuals who are likely to perform well in the future, even though their credit report shows past problems. Even people whose scores are lower than a lender’s cutoff for “automatic approval” benefit from scoring. Many lenders offer a choice of credit products geared to different risk levels. Most have their own separate guidelines, so if you are turned down by one lender, another may approve your loan. The use of credit scores gives lenders the confidence to offer credit to more people, since they have a better understanding of the risk they are taking on.

Credit Rates are Lower Overall
With more credit available, the cost of credit for borrowers decreases. Automated credit processes, including credit scoring, make the credit granting process more efficient and less costly for lenders, who in turn have passed savings on to their customers. And by controlling credit losses using scoring, lenders can make rates lower overall. Mortgage rates are lower in the United States than in Europe, for example, in part because of the information – including credit scores – available to lenders here. Knowing and improving your score can also lead to more favorable interest rates.

The prudent consumer can avoid this situation by reading and understanding the fine print of automobile purchases, and weighing the benefits and drawbacks of both purchasing and leasing a vehicle. Here are some identifiers in support of buying a car:

• You have the money for the down payment that’s required for your purchase
• You like the idea of owning something of value after making payments for years
• You want to trade in an old vehicle
• You like the idea of carefully maintaining your car, so that it runs perfectly for years and years
• You drive tens of thousands of miles each year (if you lease, you might end up paying a relatively large amount of money at the lease’s end for exceeding the annual mileage cap, which is generally 12,000 to 15,000 miles)

Here are some identifiers in support of leasing a car:

• You generally prefer lower monthly payments
• You like driving a new vehicle – particularly a luxury model – every two or three years
• You hate the hassle of selling your old car every time you want to buy a new one
• You put “hard” miles on your vehicle
• You like the idea of driving a vehicle for a few years before purchasing it

If you decide to lease, you need to learn exactly what you’re paying for in terms of interest rate (it should be close to the current automobile loan rate). You should negotiate the capitalized cost (the price the financial institution pays the dealer for the leased vehicle), the acquisition fee (which the consumer is charged for initiating the lease) and the disposition fee (which the consumer is charged at lease’s end if he decides not to buy the vehicle.). Because of all of these factors, professionals advise that low monthly payments don’t necessarily translate into a beneficial transaction for the consumer.

If you need to get a car, but your credit stinks, call Trinity Credit Services to restore your credit score.

Be prepared
When mortgage lenders review your credit report, they evaluate how much you already owe, how much unused credit you have available, how prompt you are in paying your debts and whether you’ve recently applied for new credit.

They may ask you to explain any late payments, recent inquiries on your credit report or new accounts. If you have no credit accounts, they may ask you to show that you pay your rent, telephone bills or utility payments on time.

Count your savings
Have you saved enough money? You generally need a down payment of at least five percent of your new home’s purchase price. You also need money for closing costs.

But that’s not all. Be sure to set aside extra funds for emergencies. If you spend every dime on your down payment, you’re statistically more likely to lose your new home to foreclosure some time in the future.

Seek pre-approval
Touring homes you can’t afford makes homes in your price range pale in comparison. Asking a mortgage lender to pre-qualify (or pre-approve) you for a specific loan amount narrows your search, helps you avoid disappointment, improves your bargaining power and speeds the sales process.

Know your options
Ask the lender to give you details on the cost differences of various mortgage plans. Then select the one that’s best for you. Options include:

• Fixed-rate mortgages for 15, 20 or 30 years
• Adjustable-rate mortgages
• Balloon mortgages
• Government-insured loans or special loan programs

Remember, besides your mortgage payment and property taxes, your monthly housing costs can include mortgage insurance, home insurance, special assessments and homeowners fees.

As a general rule, your housing costs should total no more than 28-32 percent of your monthly income before taxes. Add other long-term debts such as car and student loans, and your total should take no more than 36-41 percent of your monthly income before taxes.

Narrow your choices
This is not just a house, it’s your home. It’s where you live. More than that, your home gives you pride of ownership, freedom from landlords and a sense of security. That’s why it’s a good idea to consider more than finances before buying. Think, too, about your needs and preferences for:

• Schools and transportation
• Healthcare
• Recreational opportunities
• Commute to work
• Housing styles and lot sizes


Make your payments
How much you borrow, how much you owe and when you pay become a part of your credit history. When you apply for new loans or credit cards, other lenders will review this history.

Late payments can stay on your credit report for up to seven years, can keep you from buying another house or can make it more expensive to buy a car. A good credit history proves you manage your finances well. It lets you enjoy using credit at your convenience and at a lower cost.

If you are interested in buying a home, but have some bumps and bruises on your credit, give Trinity Credit Services a call at 1-888-669-7372. We helped R. Wiffler buy a home and we can help you too!

]]> http://www.trinitycreditservices.com/index.php/tips-for-buying-a-home/feed/ 2 http://www.trinitycreditservices.com/index.php/what-bad-credit-really-costs-you/ http://www.trinitycreditservices.com/index.php/what-bad-credit-really-costs-you/#comments Mon, 19 Oct 2009 21:45:02 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1060 By now you probably know how your credit score affects many areas of your life from qualifying for a mortgage to whether an employer hires you for a job, but have you made a plan to improve your credit score? If not, it could be costing you.

When it comes to your home mortgage, auto loan and credit cards, the higher your credit score, the lower the interest rates. Having excellent credit not only makes the credit approval process easier, it also can save you lots of money each month. Making a call to Trinity Credit Services at 1-888-669-7372 for your FREE Credit Report Consultation, can save you hundreds of thousands of dollars in the course of your lifetime.

In most cases, your home mortgage is where you will save the most money from an improved credit score. People with excellent credit can now get a fixed-rate loan for 5.5%. People with scores of 650 or less will probably not qualify for anything less than than 6.5%. That 1% or more of extra interest can really add up and cost you thousands of extra dollars.

Besides saving lots of money on your mortgage, having good credit is beneficial if you want to refinance or take out some money for home repairs or to pay some bills. The higher your credit score, the lower your interest rate and the more equity you can cash out.

Invest in your future, by calling Trinity Credit Services. Improve your credit score, and improve your life.

]]> http://www.trinitycreditservices.com/index.php/what-bad-credit-really-costs-you/feed/ 1 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-making-late-payments-or-skipping-them-entirely/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-making-late-payments-or-skipping-them-entirely/#comments Sat, 17 Oct 2009 16:58:25 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1056 Obviously making late payments or missing payments altogether is going to wreck your credit score. Fortunately, not all missed and late payments are counted equally.

The FICO score weighs missed and late payments by several criteria, including recentness, how late a payment was and the frequency of missed or late payments. Recentness has the most bearing on the FICO score. For instance, a 2-year-old incident of a payment being 90 days late is not as bad as a recent 30 days late payment.

Credit scores are a predictor of future risk, so all of the factors are looked at are viewed as to how well they can predict the future. The more recent the information is, the more predictive it is. Lenders are always looking to spot potential problems as early as possible.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-making-late-payments-or-skipping-them-entirely/feed/ 0 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-ignoring-mistakes-on-your-credit-reports/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-ignoring-mistakes-on-your-credit-reports/#comments Fri, 16 Oct 2009 16:29:38 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1052 Did you know that more than 70% of all credit reports contain errors? That is why it is so vital to review your credit reports at least once a year.

If you find errors on your report, you can try to dispute them yourself. You may get some good results, but if you want the mistakes and negative items permanently removed, call Trinity Credit Services at 1-888-669-7372 for your FREE Credit Report Evaluation. One of our expert Credit Counselors will go over your credit report with you and we will determine how we can help.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-ignoring-mistakes-on-your-credit-reports/feed/ 0 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-not-paying-fines-or-other-bills/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-not-paying-fines-or-other-bills/#comments Thu, 15 Oct 2009 16:19:04 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1050 Did you know that not paying overdue book fines at the library can hurt more than your book-borrowing privileges? It can damage your credit score, as well as unpaid parking tickets.

Public institutions can use credit to get people to pay their fines and fees. If someone has unpaid parking tickets, it could be killing their credit score without them knowing it. If you decide to not pay your cell phone bill or garbage collection, those companies can send your account into collection. When you have an account with a merchant that doesn’t report directly to the credit bureaus, there is a difference between positive and negative reporting. Most of these service providers don’t report positive information. The minute you stop paying your bill, they can outsource that debt to a collection agency who will report it.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-not-paying-fines-or-other-bills/feed/ 2 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-applying-for-new-credit-repeatedly/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-applying-for-new-credit-repeatedly/#comments Wed, 14 Oct 2009 15:04:07 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1048 New credit doesn’t mean a shiny new credit card; it means a lower credit score, at least in the long run. Here is why:

First, new credit accounts lower the average age of your credit history. If you’ve had one credit card for 20 years and then you open five new store cards because you got a 10% store discount, it may cost you! The credit score is going to take the one account you’ve had for 20 years (240 months) and the five accounts that you’ve had for one year (60 months). The average for all those accounts together is four years.

Applying for credit causes a “hard inquiry” on your credit report. Inquiries aren’t extremely damaging to credit scores, but multiple hard inquiries in a short time period can look like desperation or illegal activity. Most banks or credit card companies avoid consumers in these situations. Credit scores do take smart loan shopping into account. When shopping for products such as auto or home loans, consumers are not dinged for each individual inquiry within a 45-day window.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-applying-for-new-credit-repeatedly/feed/ 0 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-running-up-high-balances/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-running-up-high-balances/#comments Tue, 13 Oct 2009 16:02:50 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1044 Creditors and lenders want to see people use just the right amount of credit. Using too little sends up red flags and using too much sends up flares and fireworks!

The credit scoring model favors lots of credit that is not utilized too little or too much. Having many low balances on several cards rather than one large balance is preferable. Even cardholders who run up high balances and then pay them off each month, can be unknowingly damaging their credit. The FICO score does not take those payments into account, it just sees the large balances.

Thirty percent of your credit score looks at the amount of money borrowers owe and then compares that with the amount of credit they have available. This is called your credit to debt ratio. This number can get unpleasantly skewed if you owe more than 30% of what is available to you, especially if one card is near its limit.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-running-up-high-balances/feed/ 0 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-2/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-2/#comments Mon, 12 Oct 2009 19:48:47 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1038 Consumers shouldn’t close their credit accounts in good standing. And putting them in the freezer in case of an emergency also may backfire.

Creditors hate to lend just anyone vast sums of money. Most recently, lenders have taken a use-it-or-lose-it attitude–preferably lose it.

Consumers encounter two pitfalls if creditors close accounts for non use: The available credit is pared down, and those accounts no longer contribute to their credit histories.

If an open account is unused for a long enough period of time, the company can stop reporting it to the credit bureaus. If the account goes unreported, that account is not contributing to your available credit, which affects your credit utilization ratio.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-2/feed/ 0 http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-1/ http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-1/#comments Fri, 09 Oct 2009 18:23:54 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1028 A quick way to guarantee that your credit scores drop is to reduce your available credit by closing accounts.

Credit scores are not built around common sense. Doing away with unused lines of credit would make sense to most people, but not to a credit-scoring model. Some things that can lower your credit score are counter intuitive. When you close an account, it no longer adds to your total amount of available credit.

30% of your credit score is the amount of debt owed against the credit limit. Without changing your level of debt, lowering the credit available to you throws the ratio of debt to available credit out of whack.

For consumers with very low balances, closing newer credit accounts, slowly, can make sense, especially if the cards have high interest rates or charge annual fees. But having too much credit is rarely a problem.

Some people believed that if you have too much credit available, you run the risk of being overextended because you could access too much credit at once.

The ideal credit customer is one with 20 years or more of credit experience. You want that good history on your credit reports. Closed accounts will drop off and that valuable positive credit history will be gone.

]]> http://www.trinitycreditservices.com/index.php/7-ways-to-wreck-your-credit-1/feed/ 0 http://www.trinitycreditservices.com/index.php/will-a-poor-credit-score-haunt-me-forever/ http://www.trinitycreditservices.com/index.php/will-a-poor-credit-score-haunt-me-forever/#comments Fri, 09 Oct 2009 16:06:04 +0000 TrinityServices http://www.trinitycreditservices.com/?p=1002 Your credit score is a “snapshot” of your risk at a particular point in time. It changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit. For example, past credit problems impact your score less as time passes. Lenders request a current score when you submit a credit application, so they have the most recent information available. Calling Trinity Credit Services to improve your score is a great move. We can help improve your credit score so you can qualify for more favorable interest rates.
]]> http://www.trinitycreditservices.com/index.php/will-a-poor-credit-score-haunt-me-forever/feed/ 0 http://www.trinitycreditservices.com/index.php/twenty-lazy-ways-to-save-money/ http://www.trinitycreditservices.com/index.php/twenty-lazy-ways-to-save-money/#comments Thu, 08 Oct 2009 18:28:00 +0000 TrinityServices http://www.trinitycreditservices.com/?p=999 By Katie Adams

INVESTOPEDIA ULC ©2009


While many experts can’t decide if the recession is nearing its end or not, we do know that there hasn’t been a tremendous surge in wages, job creation or the stock market. Consequently, most of us are staying pretty conservative on our spending. Here are a few relatively simple ways to keep an eye on your pennies while you’re waiting for that brighter economic future to arrive.


1. Schedule automatic payments

Have (at least) your fixed monthly bills paid automatically to avoid missing a payment and having to fork over extra money for late fees and/or interest. You can set up auto pay features through your bank’s online bill paying service or by arranging it directly with the company or service provider. (Automation can be a painless and free way to remove the stress of bill scheduling from your life — if you do it right. Learn more by reading Automating Your Bill Payments.)

2. Eat your groceries

Did you know that Americans regularly throw away nearly 15% of the food they buy at the grocery store each year? That can add up to hundreds or, depending on your supermarket budget, thousands of dollars each year. Save money by actually eating what you buy. Not sure how? Bypass the bookstore and borrow a cookbook from the library!


3. Bundle services

If you’re paying different vendors for similar services you may be overpaying. Call your communications providers to see what price you’ll be quoted if you switch and bundle your internet, phone and cable TV services.

4. Pay off credit card

If you’re not paying off your credit card balance each month you’re paying interest and, for most Americans, it’s a pretty steep rate. Pay it off and you could save a tidy sum by eliminating your interest charges. (Managing your debt could mean the difference between spending $45,000 or saving $184,000. Read Expert Tips For Cutting Credit Card Debt.)

5. Mark your calendar

Whenever you rent something–library books, videos, etc. — mark it on your calendar and save money by avoiding those quickly mounting late fees. Many stores and libraries also now offer email reminders to help the constantly harried so sign up for the extra help!


6. File your taxes on time

Or if you need to file an extension at least pay what you owe on the due date. You’ll avoid annoying notices from the IRS and, more importantly, save on penalties, fees and interest. (These schemes can lead to fines — and even jail time — for both the scammer and his victims. Check out Avoiding Tax Scams.)

7. Roll it over

If you’re switching jobs and you can’t leave your 401(k) invested with your current company, roll your 401(k) into either your new employer’s 401(k) or an IRA within the 60-day window instead of withdrawing the money. By doing so you’ll keep the money invested — and earning interest — and avoid those nasty taxes as well as the additional 10% penalty. (To learn more, read Know The Rules For Roth 401(k) Rollovers.)

8. Switch credit cards

If you’re carrying a balance on a high interest rate credit card check out other card issuers to see if you could transfer your balance to one with a lower interest rate and fewer fees. Use sites like Creditcard.com or Bankrate.com to compare card rates, and pay careful attention to how long those terms last so you don’t wind up paying a higher rate and erasing any potential savings.

9. Use your privileges

Are you an AAA member? Do you belong to the AARP? What about your local credit union? Check organizations you have memberships with to see if they offer buying privileges or discounts.

10. Rent instead of buy

You might be excited to expand your driveway but don’t let your enthusiasm overtake good sense. Hold off on buying that jackhammer and think before you spend on big-ticket items or items that you’ll use once or infrequently (like movies and books).

11. Buy instead of rent

Don’t pay the exorbitantly high prices charged by rent-a-center type stores for items you’ll use regularly and keep long-term like computers, furniture and appliances.

12. Ask

That’s right, just ask. You can’t be paying any more than you currently are, so why not ask if you can get the interest rate lowered on your credit cards or loans? Also, ask for a discount on services like your wireless phone, trash removal or pet care instead of switching to another vendor, and of course ask “is that the best you can do” on any big ticket purchases like cars, appliances and furniture.

In a tight economy it might be worth the seller’s while to cut the price instead of losing the sale, and you’ll both benefit in the end!

13. Just say no

To the extended warranty that is. They hardly ever make financial sense. Weigh the repair or replacement cost (and if you would even need or want to repair or replace it down the road) against the cost of the warranty and graciously pass when offered.

14. Have the awkward conversation

Americans average more than $750 yearly on holiday gifts and that’s probably much more than most would like to spend. If your gift-giving is costing you more than you can realistically afford there’s a good chance it’s more than your relatives can afford (or would like to spend) as well. Take the plunge and broach the subject. Offer a more reasonable alternative (say, limit giving to children or put a dollar amount on gifts per person). More than likely your relatives will be grateful SOMEONE finally raised the subject and you’ll save money in the process.

15. Eat at home

If the idea of cooking for yourself seems like too much work at least opt for take-out instead of dining out — you’ll save on the tip, the alcohol and most likely the cost for appetizers or dessert.

16. Balance your checkbook

It might take a few minutes but it’s something you should be doing anyway and it can pay off huge dividends by helping you avoid bouncing a check and incurring steep overdraft fees (not to mention a little embarrassment)!

17. Stick with your bank

When withdrawing cash drive or walk the extra minute it takes to use your bank’s ATM and avoid the fee that could come with another bank’s machine. Better yet–switch to a bank that doesn’t charge fees!

18. Use your TV

If you’re paying for cable why not use all of it–and save some money in the process? Cancel the video membership and watch movies through cable movie packages you’re already paying for or check out your free “on demand” shows. Drop the gym membership and work out at home to channels like FitTV, and bag the magazine subscriptions and watch the same shows (like Martha Stewart) on TV instead.

19. Quit those bad habits

Smoking, overeating and drinking are costly habits to maintain. Okay — this is the “lazy” way to save, not necessarily the easy way. But you can save boatloads of money in two ways by saying sayonara to your favorite vices: (1) You’ll save money by cutting out on the regular spending it’s costing you, and (2) you’ll probably save on insurance premiums and long-term health costs. It’s the ultimate win-win. (Wonder how much your habits are costing you? Check out The Real Cost Of Smoking and The Real Cost of Drinking Coffee.)

20. Forget the pet

Sure it sounds heartless but did you realize that welcoming home a little Fido can cost you an average of more than $1,500 a year — or $15,000 over 10 years? Feline fluffies are pricey too–just under $1,000 a year or approximately $9,000 for 10 years of care. Looking at the long-term picture, that’s a new car or the down payment on a home! Keep walking right past that pet store and keep the money in your pocket instead.

The recession won’t last forever, but in the meantime take advantage of these lazy ways to stay on track financially, and develop some pretty good money management habits for the future!

]]> http://www.trinitycreditservices.com/index.php/twenty-lazy-ways-to-save-money/feed/ 0 http://www.trinitycreditservices.com/index.php/how-to-understand-and-improve-your-credit-score/ http://www.trinitycreditservices.com/index.php/how-to-understand-and-improve-your-credit-score/#comments Tue, 29 Sep 2009 19:39:33 +0000 TrinityServices http://www.trinitycreditservices.com/?p=989 Your credit score is one of the most important factors used to decide whether you will qualify for a major loan and what its terms will be. Every day, many would-be borrowers are denied loans, while consumers with strong credit histories are getting great rates on mortgages, car loans and student loans. Understanding how your credit score is formulated is your first step when applying for a loan.

Take advantage of the rules.
Did you know that too many credit applications can lower your score? Multiple inquiries signal that you are having trouble successfully securing a loan and may be a credit risk or undesirable borrower. However, multiple inquiries from the same type of lender, such as a mortgage company, are counted as a single inquiry if submitted over a short period of time.

Reduce your debt.
Creditors look for an optimal total debt load of 36 percent of your household income. If your monthly mortgage, car loan and revolving credit card payments total more than 36 percent of your monthly salary, you will likely need to find a way to lower your overall debt before applying for a new loan.

Pay on time.
The easiest way to raise an ailing credit score is to make all your loan payments on time every month. Over the span of several months, you will likely see your credit score improve. When making credit card payments, you should set up automatic payments and always pay more than the minimum payment due. This will prevent you from incurring large amounts of interest and will make you a more desirable borrower.

Timing is everything
Wait 12 months following a credit problem before applying for a mortgage or a car loan. You will be penalized less for problems that are more than a year old.

Get your finances in order.
Avoid credit card purchases prior to applying for a major loan and stay away from independent finance companies with high interest rates, which reflect poor credit management. Transferring debt from one cad to another is another way to reduce your credit score. Of course, paying off credit cards every month is ideal, but if that is not possible, steadily pay down the debt.

Plan ahead
Don’t open new credit card accounts right before applying for a home or car loan. Having too much available credit can lower your score. Also, the longer you have been at your current job, the better this reflects on your qualifications. If you plan on applying for a loan and will be switching jobs soon, apply before you start your new job.

]]> http://www.trinitycreditservices.com/index.php/how-to-understand-and-improve-your-credit-score/feed/ 0 http://www.trinitycreditservices.com/index.php/new-credit-card-law-opt-out-of-high-interest-rates/ http://www.trinitycreditservices.com/index.php/new-credit-card-law-opt-out-of-high-interest-rates/#comments Wed, 19 Aug 2009 15:13:12 +0000 TrinityServices http://www.trinitycreditservices.com/?p=924 By CreditCards.com

Starting Thursday, when the first phase of the new Credit Card Accountability, Responsibility and Disclosure (CARD) Act goes into effect, credit card users will be armed with a new right to say no to — that is, opt out of — interest-rate increases and other changes in their credit card agreements.

Under the first phase of the new law, consumers must be given:

* At least 45 days’ warning of changes to their credit card accounts. Currently, only 15 days’ notice is required unless customers default on their accounts, in which case interest-rate increases can go into effect immediately.

* At least 21 days to pay their monthly credit card statements without threat of late fees.

* The right to opt out of interest-rate and fee increases and the right to cancel their accounts while paying off the balances under the old, lower interest rates. Currently, issuers offer opt-out options at their discretion, and it is not a consumer right.

Other aspects of the new credit card law — such as restrictions on interest-rate increases, bans on issuing and marketing credit cards to young adults, and regulations on gift cards — take effect in February 2010 and later. In addition, starting July 1, 2010, a host of requirements for disclosing fees, rates and terms on monthly statements, credit card applications and mailers will become law as a result of new rules drafted and approved by the Federal Reserve Board and other banking regulators.

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