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A Quick Guide to Better Credit

A Quick Guide to Better Credit

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Published by Just a Girl

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Published by: Just a Girl on Oct 26, 2008
Copyright:Attribution Non-commercial

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01/16/2010

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A Quick Guide To Better Credi
t
 From the Credit Professionals at Credit Unlimited 
1.
Understanding Your Credit Report
°
Credit 101
°
Negative Credit Listings
°
Authors secrets to improving negative listings.
2.
 Knowing Your Credit Score
°
The Basics of Credit Scoring
°
5 Main factors of a Credit Score
°
Affects of a low credit score
°
Authors Secrets to a better credit score.
 3. Other Tips & Hints
°
Opting Out-
Stopping the credit card offer insanity!
°
Goodwill Negotiations
-
Show your creditor some love and they’ll love youback!
 4. Credit Quiz
°
Take the Credit Quiz and see what you’ve learned!
 5. Professional Resources
°
Credit Report & Score Improvement Specialists
°
Ordering Your Credit Reports
°
Getting a credit card.
 
 
Introduction
Personal Credit has become an extremely vital part of the way of life in America today. Itscrazy so much is dependant on what 3 little numbers say about a person. At Pure Credit Unlimited we understand this better than anyone. We have helped thousands of peopleimprove their lives through the improvement and wise use of their credit. The purpose of thisguide is to help you do just that. The number one way to improve your current credit situation and maintain good credit is to know your credit report. Knowing what is on your credit report and the effects of your financial actions on your credit report can save you a lot of future struggles and pain. Take a moment to review this information and test your credit knowledge as well as evaluate your current actions and their effects on your credit.
 
 
Credit 101
The items below are general Credit terms and the definition of each. Knowing thesebasic terms will go a long way in understanding credit reporting and credit scoring.
What is a Credit Report?
A credit report is a detailed account of the credit, employment and residence history of anindividual used by a prospective lender to help determine creditworthiness. Credit reportsalso list any judgments, tax liens bankruptcies or similar matters of public record enteredagainst the individual.
What is a Credit Score?
A credit score is a number that represents an estimate of an individual's financialcreditworthiness as calculated by a statistical model. A credit score attempts to quantify thelikelihood that a prospective borrower will fail to repay a loan or other credit obligationsatisfactorily over a specified period of time.
What is a Credit Bureau
?A credit bureau is a for profit company that compiles pertinent credit report information(payment history, inquiries, addresses, employment). This information is sold to creditors tobe used as basis for approval or denial on credit applications.
The Main Three
The main three credit bureaus used through out the United States are:
 Experian, TransUnion
and
Equifax
.
What is a Credit Inquiry
?An "inquiry" is a listing of the name of a credit grantor, or authorized user who has accessedyour credit file. Each inquiry is posted to the credit file so you know who has obtained acopy of it

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