Corporate credit rating

A corporate credit rating is an indication of the ability and willingness of a company to repay its debts. Companies and corporations are assigned a credit rating based on a variety of factors.  Ratings range from AAA to C or D, according to the rating agency. An AAA credit rating shows that the company has the highest possible credit rating and is a low risk investment. Companies make an attempt to get AAA ratings by reducing their debt and working to improve their overall operation. A low C or D rating may indicate that the company has defaulted and is unable to repay loans.

 

Get help to fix credit

Though most organizations consider the credit score to be an indicator of the financial health of the individual, a person can have a bad credit score due to factors beyond his or her control like poor health or incorrect reporting by any of the credit reporting agencies. This can adversely affect the ability of the person to get a credit card or loan.

However, it is now possible to fix credit and improve your credit score by using the provisions of the Fair Credit Reporting Act. There are many specialized firms which offer credit repair services. They write to the relevant credit reporting agencies and ask them to remove any negative item in a credit report which cannot be supported by adequate proof.

Two credit repair programs are available  – Essentials program with a professional case adviser, unlimited disputes to credit bureaus, online dispute strategy management and the Essentials plus program includes custom validation letters to creditors and a letter of recommendation.

Credit card comparison

Credit cards are widely used for both online and offline transactions due to convenience offered. For online transactions, they offer a degree of protection against fraud as the credit card owner can dispute a transaction, if he or she is wrongly charged. However, if the credit card owner delays payment of the amount due , the interest to be paid on the credit card is very high as the interest rates charged by credit card companies are significantly higher than those charged by banks for loans since the amount is not secured.

So it is important to carefully evaluate the positive and negative features of the credit cards offered  by the various credit card companies in great detail before taking a final decision and selecting a particular credit card. An online credit card comparison offers information on the different credit cards based on criteria like balance transfers, interest to be paid on purchases and average APR to be paid. The APR is variable and depends on a number of factors. 0% interest is charged for balance transfers for periods which could vary from 12 months to 16 months. Interest on purchases is 0% for 3 months.  The APR varies from 15.9% to 16.9%.  The credit cards compared are those from Virgin, HSBC, MBNA rewards, Egg and World Wildlife Fund. You can apply for these credit cards online.

If you do have a credit history, it is advisable to get prepaid credit cards . These can be obtained easily and do not require much paper work. Some of these credit cards have an activation fee, but in other credit cards, this fee is waived off. Prepaid credit cards are ideal for students. However, a monthly maintenance fee is usually charged for these cards by the issuer.

Increase of credit limit on credit card

At times, the limit on the credit card is not adequate and gets exhausted before the month end. You can get the credit card limit increased or use another credit card for making purchases for the rest of the month.

If a credit card holder wants the credit card limit increased, he or she will be asked by the bank to fill  up a form requesting a limit increase and also provide additional documents like recent payslips and bank statement. If you have a good repayment history on your credit card, your application for an increased limit will be approved.

The credit card issuer will check your credit records before approving your application. However,  this enquiry will not usually show on your credit file as your bank is an existing creditor.
You authorize them when you open the account, so they cannot penalize you because an existing  creditor wants to make some inquiries each time.

Credit repair services

Though most financial institutions consider the credit score to be an indicator of the financial health of the individual, a person can have a bad credit score due to factors beyond his or her control like poor health or incorrect reporting by any of the credit reporting agencies. This can adversely affect the ability of the person to get a credit card or loan.

However, it is now possible to fix credit and improve your credit score by using the provisions of the Fair Credit Reporting Act. There are many firms which offer credit repair services. They basically write to the credit reporting agencies and ask them to remove any negative item in a credit report which cannot be supported by adequate proof.

Ovation Credit Repair offers two credit repair programs – Essentials program with a professional case adviser, unlimited disputes to credit bureaus, online dispute strategy management. Additionally, the Essentials plus program includes custom validation letters to creditors and a letter of recommendation.

Credit score and history

Credit history is major factor in many life decisions, and knowing your credit score is important when planning for the future. Visit freecredittrio.com to receive your free credit score from all three major credit bureaus just for trying our credit monitoring service free for 7 days. Prepare yourself with the info you need to buy or rent a home, get a loan or get a job.

Insurance quotes

Life insurance is a major financial expense, so it is advisable to be compare the offers of different insurance providers before taking a decision. Visiting the website of each provider can  be time consuming but you can simplify the task by getting a quote from websites which offer instant term life insurance quotes.

To get a quote , you have to provide information like state in which you reside, date of birth, height, weight, amount, term, frequency of payment of premium, gender, tobacco use and health status. Real time quotes are obtained from more than 140 insurance companies and a help analyzer is available to correctly assess the health classification.

Loans for students

Student loans are a significant liability for students with a middle class background graduating for college as college fees and living expenses are substantial. If there is a  delay in repayment of the student loan or missing even a single installment due to unavoidable circumstances, it can affect the credit report of the individual and career prospects as many employers consider the credit score as an indication of the fiscal responsibility. By comparing the features of the various student loans, the student can minimise any future problems.

Though some students may qualify for financial aid from the government, these are limited in number and are available to those with an excellent academic record. Though more expensive, College loans from private lenders are available for students at different stages of their career or their guardians.

However private student loans offer more flexibility and can be used to cover tuition, fees and living expenses. These are unsecured loans, and supplement the funds the student and his or her family may have raised using other methods like their savings, part time jobs and financial assistance from other sources.

Improve your credit score

There are many instances when an individual’s credit history  may be damaged for no fault of his. The negative report could be due to an illness or accident. At times a clerical error may occur at the credit reporting agency. A person with poor credit finds it difficult to get loans, may have to pay a higher interest rate and could also affect their ability to find a suitable job.

Today credit repair is feasible by referencing the Fair Credit Reporting Act and improving your credit score. The procedures to be followed to repair credit can take time. However, there are several specialized agencies which can improve your credit score for a fee, which is a fraction of the amount you will save in the long term.

The method used to fix credit by credit reporting agencies is to first procure credit reports and for each negative item in the credit report, the credit reporting agency is asked to furnish supporting evidence . If the credit reporting agency cannot provide any supporting evidence, the negative item has to be  removed from the credit history. This results in the improvement of the credit score of the person over a period of time.

Selecting a CD

In the current economic conditions, most people are trying to maximize the returns on their savings so that the effect of the financial crisis on their lifestyle is reduced. Both the stock markets and real estate markets have given negative returns over the last one year. Bank CDs are a relatively safe investment, since the banks are highly regulated.

The CD rates depend on many factors like the duration of the CD , amount and the bank where the CD is kept. For a shorter duration, a lower interest rate will be offered for the CD, while CDs for a period of two to three years will usually have a higher interest rate. Usually larger banks offer a lower CD rate compared to smaller banks.

To get the best CD rates, it is important to monitor the rates offered by the different banks for different periods of time . You can do conveniently using websites like Select CD rates, which also list the CD rates in major states for the convenience of their visitors. Trends in CD rates are also monitored on a weekly basis.