Deleting Bad Credit from Your Credit Bureau Report - It Can Be Done
Having a bad credit report is very damaging to your financial future. But you already knew that.
Getting your credit report back to pristine status once it has been damaged can be accomplished, but it will take time. However, you must know how to go about it, because you might only get one crack at it.
Your goal should be to have the "verifiable" negative marks deleted from your credit report.
In order for a creditor to consider deleting a "verified" negative mark on your credit report, there must be something in it for them. Primarily that you pay the account in full.
Several factors will determine if a creditor will consider deletion of a "verified" negative account. Some of these include:
>Your ability to pay
>Your job status
>Your income
>Your assets
>Age of the account
>Dollar amount that is due
>Who the creditor is
Just to name a few.
However, you must beware.
You must know if the person you are negotiating with has the authority to delete the negative mark from your credit report.
If you are talking to the collection agency, they may only have limited authority. Meaning that the collection agency may only be able to delete the collection agency report but not the original creditors report.
Anything that you agree to must be in writing. Detailing what you must do and what you will be getting in return.
Have an authorized signature on the letter.
Make certain that the settlement offer and terms are on official company letterhead.
Keep a file and document all communications with the creditor or collection agency.
Everything:
>Date and Time
>Person you talked to
>Operator number
>Phone numbers and extensions
>Address
>Timeline
>Details of what was discussed and by whom
Having as much detail on file will help you in the future if the creditor or the collection agency does not adhere to the terms of the settlement.
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5 Ways To Make Gas Credit Cards Work For You
Gas credit cards have become quite popular in recent years. Rising gasoline prices have caused a great many Americans to rethink their fuel consumption, in spite of our nation's love of the automobile. As far as gas prices go, it looks as if $3 per gallon is the new norm, while many experts predict that we are a geopolitical crisis away from seeing $5 a gallon.
And while there are many ways in which we can limit our fuel consumption, we still need to get to work, school and the grocery store. One way we can help ourselves is through the judicious use of gasoline credit cards. Some are specific to individual companies and offer immediate savings at the pump while others are general use cards that offer cash rebates regardless of which station you go to.
Let us examine the the benefits of gas credit cards:
1. Cash Rebates - Cards such as the Chase BP Visa offer up to 10% rebates as an introductory rate. These are termed "double rebates" and last for 60 days. After which the time the 5% rate locks in for all subsequent gas purchases. The Discover Open Road card also offers 5% cash back but is not limited to just one brand of gas.
2. 0% APR Introductory Rates - Many cards come complete with 0% interest rate offers on new purchases, while some offers have 0% APR on balance transfers. These introductory offers usually last for 6 - 12 months and can be an excellent way to save on interest for those individuals that carry monthly balances.
3. Cash Back Bonuses on Other Purchases - Expect to see cash back bonuses of 1% - 2% on other items including restaurants, groceries and just about every other consumer purchase you can think of. All offers are different so be sure to read the terms that accompany each offer.
4. No Annual Fees - Because the credit card industry has become so competitive in recent years, a byproduct of that is the elimination of annual fees. This is done to make the deal more attractive and as an incentive to choose that particular offer. Always choose a card with no annual fee.
5. 0% Fraud & Theft Liability Guaranteed - It is unfortunate, but in our modern times credit card fraud and identity theft has become a very serious problem. A gas credit card that offers full protection from theft and unauthorized use assures you that you will never be held financially liable for others misdeeds.
These are some of the main benefits that gasoline credit cards can offer. As always you are urged to carefully read over the terms and conditions of the offers you are interested in. Gas credit cards are a wonderful way to keep more of your hard money. Let's do a quick scenario that illustrates how using these cards can add up to some significant savings over time:
Suppose you fill up your tank at a station that charges $3 per gallon. Let's say your fuel tank holds 15 gallons. That visit to the gas station just cost you $45. Now if you use your gas rebate credit card you will get 5% cash back on that fill up. With that rebate factored in you are now in effect paying $2.85 per gallon as opposed to $3. Not too bad of a deal is it? And oh yeah, it adds up.
Morgan Hamilton is a financial adviser that is an expert in the credit markets. To learn more about Gas Credit Cards you are encouraged to visit www.BestCreditQuote.com to review and compare the leading Gasoline Credit Cards
