1. Equifax - offers a free app that allows you to track your credit score and handle other tasks from an iPhone, iPad, or Android phone. Using your phone's GPS location, this app also shows you how your credit measures up to others in your area and alerts you to key credit file changes.
2. Experian - offers the FreeCreditScore.com app for subscribers to its service (free trial available), which provides credit score alerts, a credit score center, and credit score estimator to help you plan for major financial decisions. Subscribers also have access to fraud resolution and other services.
3. Loan Shark's - iPhone app helps users figure out the impact of additional monthly or yearly payments, and determines equity and trade-in values for homes and cars. Priced at $2.99, this app lets you create a full amortization table that includes the details of each month's payment.
4. Credit Card Statistics - is a free Web-based tool via AnnualCreditReport.com that offers information on credit scores, current balances, credit limits, and credit limit use. This site allows you to request a free credit file every 12 months from each of the major credit reporting companies: Equifax, Experian, and TransUnion.
When you review your credit score and explore ways to improve it, remember there "is no magic formula," says Robbie Hampton. "Everyone starts at a different number that's impacted when loans are paid off or brought up to date. The most important step you can take is to commit to improvement and stay on course." Be patient: It's a lot easier to reduce a credit score than to raise one. ~ Bridget McCrea
5 Ways To Boost Your Credit Score - most people may know their credit score, but many still don't know what makes it go up and down. Here are five things that you can do to raise your rating.
1. Make early payments: Pay all credit card and loan bills before their statement due dates. Even make multiple payments during the month rather than a single remittance, says Bill Hampton. Making a payment before the due date can lower your utilization rate, which in turn can raise your credit score. If your total available credit is $20,000 and you have a $10,000 total balance, then according to FICO you have used 50% of your available credit-and that's your utilization rate. How much you owe is 30% of your FICO score; your utilization rate is a larger part of that.
2. Stick to 33% credit use rule: Bill Hampton general partner with certified public accountant and business consulting firm Bishop, Hampton & Associates L.L.C. in Atlanta, suggests paying off or paying down all open lines of credit so that their individual balances don't exceed 33% of the total available credit. Use only that percentage of the total limit at one time.
3. Ask for a goodwill deletion: Request a goodwill deletion based on previous on-time payments. A goodwill deletion occurs when a creditor decides to remove a negative mark based on the customer's request. State your case in writing, explain why the payment was late, point out previous good payment history, and ask the creditor to reconsider the negative mark, giving the recipient 30 days to respond to the request, advises Bill Hampton. Removing one or two negative marks on your credit report will raise your credit score.
4. Keep aged accounts even if they are no longer useful: "A portion or your score is based on history and how long you've maintained lines of credit," says Robbie Hampton. According to FICO, 15% of your score is the length of your credit history. "Close a 15-year old account and you'll wipe out all of its history," Closing the account will increase your debt to available credit amount, which again will lower you credit score.
5. Remove a bad debt: Typically, paying off a collection account doesn't remove it from your credit report. However, sometimes collection agencies will agree to remove the debt from your credit report if you agree to pay it off. But get any such agreement in writing.
Use Google Plus To Position Your Brand ~
Establishing a business profile page in Google Plus is a good strategic move because of its integration into Google Search. It's also a great way to engage your customers with tools such as Google Plus Hangouts and Google Plus Circles. You can design circles to fit your business needs. So, one circle could be your vendors, another for customers, and yet another for your employees. Businesses can establish branded public identities in Google Plus in five categories:
**Product or brand
**Company, institution, or organization
**Local business or place
**Arts, entertainment, or sports
**Other
Contact Carolyn M. Brown at smallbiz@blackenterprise.com or @CMBROWN_7
SMILE EACH & EVERYDAY! BE KIND TO OTHERS, CALL YOUR MOMS :-)
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