My Credit Inform

Money wise. Money matters.
I try to learn something new every day. It’s so many books in the world I have not read, yet, so I do not know everything.
But my latest venture is not necessarily more books or money, yet it’s about a name. {Money is not going to bring happiness. But I do know it’s a hell of a down payment. ;-) }
My current project is getting my brother’s credit right. Yup! You do not have to make a lot of money, but can have great credit. This is really important for him {and me}. First he’s young, Black, gifted, {holds a degree} and is in America. So all of that translates into; I have to look out for him. Plus he’s not a criminal. In this day he’s a rarity. He’s sweet too ladies. Hint. Hint. Plus, I’m getting his credit right.
I’m using big brother as an example for many others out there. Besides I’m tired of so many of my people unable to acquire wealth. {A great tool for your credit report: www.mycreditinform.com. They give you an update of everything you ever owed in your entire life, and a break down of how to get out of debt. You receive updates every three months. It costs like $6. A note to the wise, don’t pay over $10 for a report, most likely it’s a scam} Anyway. …The task is easy, it just requires consistency.
I did my research and this is what I came up with.

What is a credit score?
A credit score is based on variables in your credit file that help determine your creditworthiness. (Your name here) The number is based on various factors, including the number of trade lines you have open, the number of late payments, delinquencies.

In my research I also found:
6 Steps to Better Credit
1. Pay your bills on time. Creditors scrutinize your credit history. If you pay your bills on time, this reflects well on you. If you have a record of delinquent payments, you might want to consider credit counseling on how to better manage your finances.

2. Manage your debt. Your debt/income ratio — the percentage of your income that goes to paying off debt — is another gauge of your financial health. You can calculate this ratio by dividing your monthly minimum debt payments (excluding mortgage) by your monthly take-home income. If your debt payment absorbs:
• Less than 20% of your income, you are doing well
• Between 20% to 35%, consider reducing your overall debt
• More than 35% consider credit counseling or some type of aggressive debt-reduction strategy.

3. Don't over-apply for credit. Limit the number of loan applications you submit. Each bid shows up as an inquiry in your credit report. Even if you're just comparison-shopping for the best rate, too many inquiries can be viewed as a desperate bid to obtain credit to get out of financial trouble.

4. Shred your documents. Be sure to destroy any piece of paper with Social Security or credit card numbers. Thieves often go through garbage retrieving people's identification so they can use this information to commit fraud.

5. Don't give information away. Never include your Social Security Number on checks or driver's license. Be extremely cautious how you use your Social Security Number, it is your key personal identification number that is a gateway to your personal identity. If required to provide this information, always ask if there is another option.

6. Check your credit report on a regular basis. The only way to protect your name and credit is to be proactive. With the rise of identity theft cases, it is important to review your credit files, and to report any inaccuracies to the major credit reporting agencies.

…may this help us all into the quest of the “American Dream”.
Source: www.mycreditinform.com