| Wouldn't it be nice to have credit card companies and | | | | offer that comes long 6 months later. He gets about |
| banks offering you loans and credit cards at | | | | 4-5 free airline tickets per year through this process, |
| unbelievable rate with huge grace periods, just for the | | | | and his money out of pocket for that is virtually zero. |
| privilege of having you as one of their customers? | | | | Can you join such an elite group? Yes you can but it is |
| Those with credit score above the 750 mark are the | | | | not going to happen overnight. But even with that said, |
| typical recipients of such offers, much more than they | | | | there are many things you can do to hasten the |
| could ever use. | | | | process. The very first thing you need to do is to find |
| Did you ever ask yourself what is wrong with this | | | | out where you are now. If you don't know (and most |
| picture? Are you thinking to yourself that these offers | | | | consumers do not), then you will want to get copies of |
| are being made to people who really don't even NEED | | | | your credit report from each of the three major credit |
| the credit? | | | | reporting agencies. Chances are better than excellent |
| To an extent, this is true. Credit card companies and | | | | that you will find errors in your credit report, which in |
| financial lending institutions like to have customers who | | | | turn cause your overall credit score to be calculated |
| are a low risk to them. Their entire lending portfolio is | | | | as lower than it should really be. These errors do not |
| based almost entirely on the factor of risk and how | | | | auto-correct, but rather they remain on your credit |
| likely it is that the people they have loaned money to | | | | report for years if you do not report the errors. |
| are going to pay it back. If you have a high credit | | | | Your next step is to ensure that you pay each and |
| score, you therefore have a low risk to the lender and | | | | every outstanding bill that you have on time. This is the |
| you are going to get the preferred rates. But if your | | | | single most important thing you can do to raise your |
| credit score is lower, then the lender's risk is much | | | | credit score. |
| higher, especially if you have bad credit, and the | | | | If possible, try to work it out so that your outstanding |
| interest rate is going to be set higher to cover the | | | | balance on any of your credit cards is no more than |
| lender's risk in loaning you the money. | | | | 25-30% of your credit limit on that card. That will rate |
| While this may not seem logical, it really does, at least | | | | very favorably for you and not have it look like you |
| from the lender's perspective. I know one person who | | | | are maxed out on your cards. That shows |
| has about 50 or so credit cards at any one time, | | | | responsibility and future planning to the creditors and |
| based on offers he has received through the mail. He | | | | your credit score will go up. |
| has excellent credit with a credit score above 800. He | | | | Put forth the effort to raise your credit score and that |
| will get the credit card at the very enticing offer of no | | | | effort will pay off in spades for you in the long run. |
| interest for 6 months or something like that, will charge | | | | Maybe you don't need more credit right now, but when |
| things to it while also collecting airline miles or some | | | | you do in the future, it will be nice to get a very |
| other affinity type of thing, then either pay it off | | | | attractive loan program and to have lenders fighting |
| completely, or transfer the balance to the next card | | | | over the opportunity to get your business. |