A Complete Review Of The Major Credit Reporting Agencies And Credit Reports

Today we have grown into a nation looking for instant gratification, the buy now pay later syndrome. So, without a good credit rating it will be very difficult to get the things you want at the time you want them. Consumer credit has become widely accepted as a substitute for ready cash, so having good credit is the key to your future of getting all you deserve, and the key to opening doors that make your life more comfortable and worry free.As a consumer it is to your benefit to fully understand how credit works and every aspect of what is involved when you apply for any type of credit, including the major credit reporting agencies that hold your credit report file. When you understand what the banks and other creditors are looking for, and you know what is in your credit report, you will be able to control your financial future and make the best choices for yourself and not accept anything less than what you deserve.When you apply for credit, lenders want to know about you, your employment history, your income, your assets, and most importantly they want to know about your credit history. A lender will get lots of information directly from you through a credit application, then, they will pull your credit bureau reports to confirm this information and review your credit references and credit report scores. Then upon evaluation of your credit application combined with your credit report, the lender will determine your credit risk and make a final decision on whether or not to grant you credit and at what rate of interest they will charge you.So, now that you know the process of getting credit, let us take a deeper look into the factors that can either be an asset or liability to you when applying for credit – your credit report.What is a credit reportYour credit report is your financial resume, a summary of your financial reliability, containing both personal and credit information. Your credit report is maintained by credit reporting agencies, also known as credit bureaus, and provided to lenders, employers, insurance companies, landlords and other companies who have a legitimate need for this information, based on the federal Fair Credit Reporting Act (FCRA). Your credit and personal information is reported to the credit reporting agencies from various creditors, in most cases electronically, instantly updating your file.What is in my credit reportYour credit report is divided up into five main areas: personal profile/identifying information, inquiries, credit history, public record information and your credit score.PERSONAL PROFILE / IDENTIFYING INFORMATION – this is where all your personal information is recorded – your name including any alias and possibly your spouses name, current and previous addresses, Social Security number, date of birth and current and previous employment. You might find some of this information is incorrect or incorrectly spelled, this can occur when creditors pull your credit bureau as they usually enter in the information though the computer where data entry errors can occur, and these mistakes will update your credit bureau report. However, if there is information that is not even close, such as an address, this should alert you to investigate this further as it is a possibility that you may be a victim of identity theft.INQUIRIES – in this section you will find listed all the parties that have requested a copy of your credit report and the date it was done over the past two years. There are two types of inquires, soft and hard. A hard inquire is when you have applied for something and is initiated by you, for example, you have applied for a loan or mortgage or completed a credit application for a credit card or even applied for insurance. These hard inquiries are the ones that appear on your credit report and are visible to creditors when they access your credit report. A soft inquiry only shows on your credit report when requested by yourself and do not show to the creditors. A soft inquiry can come from your existing creditors that are monitoring your account, companies that are looking to offer you promotional applications for credit and each time you request a copy of your credit report.CREDIT HISTORY – in this section you will find an itemized list of your credit cards, loans and mortgages, both currently active accounts and past closed ones. The information reported includes, type of account, when it was open, the high balance or limit, monthly payments, date of last payment, how the account is paid including any late payments, date of last activity and a rating of how the account was paid.PUBLIC RECORDS – this information is obtained from local, state and federal courthouses and includes bankruptcy records, foreclosures, tax liens, monetary judgments, court-ordered payments, and over due child support payments. Public records are a negative credit reference and will lower your credit score. They also stay on your credit report anywhere from six to ten years.CREDIT SCORE – your credit report scores are a rating determining you credit risk and the likelihood of defaulting on a loan. Lenders will use this score as a tool to assist them in deciding whether or not they will lend you money. Your credit score is a snap shot of your credit at that point in time, and can change on a daily basis. The score is a three digit number ranging between 300 and 850. Statistics show that the higher the number the less likely you will default on a loan, therefore you are a good credit risk; and the lower the number the greater chance there is for you to default on your payments, making you a greater credit risk.When your credit score is low, you still may be able to borrow money but, you will most likely have to pay a higher rate of interest and you may not get all the money you request and possibly have to pay additional fees, basically you are at the mercy of the lender. However, the higher your credit score is the more you are in-charge, you can get any loan at the best possible rates with no restriction.Your credit score is a complicated calculation, where the credit reporting agency takes into consideration many factors, including but not limited to, your payment history – late payments, both current and previous will bring down your score; your credit balance in relation to you limit – if you are at your maximum credit limit or if you are over it will bring down you score; the number of inquires – if you have to many in a short period of time it will bring down your score; the length of time you have had credit, the total number of outstanding debts and any derogatory information or public records, such as bankruptcies, collection, judgments and written off accounts – will bring down your score.Where does the information on my credit report come from?Your credit history information is gathered at companies called credit bureaus or credit reporting agencies. There are three major credit reporting agencies, Equifax, Experian and Trans Union. They receive information voluntarily from creditors and the credit reporting agency updates and maintains your credit report file with this information. Creditors report, loans, credit cards, mortgages, on a regular basis electronically. Your file is also updated when you apply for credit, as the information from your credit application is submitted to the credit reporting agencies when they pull your credit report.Who are the major credit reporting agenciesThere are three major credit reporting agencies. Equifax, Experian and Trans Union. These are independent companies from one another, and it is important for you to know that they do not exchange information. This means that it is quite possible that you not only have a separate credit report with each of them, but that they may contain different information. There are hundreds of smaller credit bureau companies across the country however these major credit companies are the largest and the main bureaus that the banks and financial institutions use. You will find that creditors may use one of the three credit reporting companies, however it is not unusual for them to use all three.Who has access to my credit reportThe Fair Credit Reporting Act (FCRA) contains rules regarding who can access your credit report. Generally speaking, a credit reporting agency may only provide information from your credit file when the requested relates to the extension of credit, collection of a debt, a tenancy applications, an application for employment or insurance, the issuance of special licenses or potential financial dealings that involve you. The law also gives these companies access to your report as part of an ongoing business relationship. An example of this would be you have a loan at a bank and you miss your payment, this gives that bank a right to obtain an updated copy of your credit reports. Credit card companies use this option a lot. They consider it part of the maintenance of your account. As credit cards are revolving (not a closed end loan), a customers circumstances can change, so credit card companies will obtain updated credit reports on their customers to review them and look for warning signs of a customer getting over extended in credit which could result in problems fulfilling their obligations. This is how credit card companies can either raise or lower your credit limit or interest rate automatically. However, in the case of an employer, this law does not apply and they need the employee’s permission each time they wish to request a copy of your credit report.You are also entitled to copies of your credit reports, and today with the internet there are many fast and easy ways to obtain credit reports online. You can purchase a copy from each of the major credit reporting agencies, Equifax, Experian or Tran Union, the cost may vary however, under the latest Federal Trade Commission (FTC) rules they are restricted to the maximum amount they can charge you. Check with your state laws, as some states require the credit bureau companies to provide you with a copy of your credit report periodically for free. The FCRA gives you the opportunity to receive a copy of your credit reports if you have been denied for credit or other benefits based on your credit report, you are entitled to receive a free credit report from the credit bureau that provided the report. The FCRA also allows you obtain
totally free credit reports. If you suspect that you are a victim of identity theft or fraud, if you are unemployed or if you receive welfare assistance.

Coupling Inbound Marketing With Your Online Reputation Management

Unlike how it was in the past, marketing has changed dramatically over the years. Although traditional marketing still exists and is very important to the overall process, inbound marketing is essential at this point and pairing it with your increased reputation is a natural choice.Having a fresh, novel approach to marketingWith traditional marketing, you have to go after your customers. You have to educate them about what they want and need and you have to convince them that you have what they cannot live without. That often involves a lot of interrupting and it often leaves the customer (or potential customer) feeling irritated and put upon. On the other hand, more modern marketing (inbound marketing) takes the opposite approach in many ways. First of all, with inbound marketing, you don’t go after your customers and potential customers. You get your customers to come to you. Because of that approach, those customers and potential customers are prescreened and prequalified. You don’t have any need to twist their arms. They come to you willingly and happily.Another positive feature of inbound marketing is that you will not have to eat up most of your budget to accomplish your goals. Inbound marketing costs very little. With traditional marketing, in all likelihood, you would have been forced to spend a great deal of money in order to accomplish what you set out to do. Because of that, if you owned a small or even medium-size company, you would have had a difficult time competing with larger companies from a marketing perspective. Of course, what follows that is your professional reputation. The more successful you are at causing a stir and getting people to know you and to eventually buy your offerings (after they have believed in your credibility, trustworthiness, and expertise), the better your professional reputation will become.Marketing to the appropriate peopleWhen it comes to your marketing efforts for your business, it is important to choose the most appropriate target audience possible. Your target audience must be interested in what you have to say and in what you can do for them. They must also want to be in the market to buy what you are selling and to feel that you are the best person from whom to buy that particular product and/or service. Additionally, the usual traditional (outbound) marketing approach may no longer work for you. Another thing to keep in mind is the fact that when it comes to outbound marketing efforts, the target audience has gotten very clever about thwarting your efforts. They can block your advertisements, they can put themselves on a “Do Not Call” list, etc. In other words, they have ways of avoiding you entirely.On the other hand, inbound marketing can be extremely effective and, if you do it correctly, your target audience members may not even be aware that you are trying to sell them anything at all (not even at some point in the future). When it comes to inbound marketing, the approach that the technique takes is concentrating on drawing people, converting prospects to eventual customers, closing the sale, and satisfying those customers on a long-term (or permanent) basis. Inbound marketing creates solid, enduring relationships that last for very long time and are mutually beneficial. Those relationships create a very positive feeling between the other people and you. Again, along with successfully marketing your brand, your reputation will also get a boost and it will become stronger and stronger. Inbound marketing will general more online traffic, it will create new leads, and it will allow you to ultimately increase your revenue.How do you ensure that your inbound marketing campaign is successful?The best way to ensure that your inbound marketing campaign is successful is by writing and posting top-notch content. You want to share content that is well written, innovative, insightful, and amazing to the point where other people feel compelled to share it with people they know and trust. If your content was done correctly, it will answer all of your target audience’s questions (even the ones that they haven’t asked yet). In fact, you want them to seek the answers automatically from you. If you can get them to that point, you will be good to go.Making loyal customers from target audience membersWhen it comes to the nature and approach of inbound marketing, it is important to understand that the relationship and interactions between human beings is at the heart of it. Your target audience members are critical to your professional success; however, on some level, it is even more critical that you create loyal customers who will stick with you for a very long time to come. If you can create brand champions, you won’t have anything to worry about.ConclusionUsing inbound marketing to help boost your professional reputation is a brilliant thing to do. Inbound marketing is a proven, successful, intelligent approach to marketing your brand. It is very easy to learn how to use it and it is extremely effective. You will start to see positive results within a relatively short amount of time. Outbound marketing is an approach that interrupts the target audience members to get your point across. It is a hard approach and, although it works well when paired with inbound marketing, it often doesn’t work so well by itself. On the other hand, inbound marketing has tremendous benefits for everyone involved (on both sides of the fence).

Investment Tips Based on Moon Sign for Diwali 2010

“Diwali” (Deepavali) will be celebrated in India on the 5th November 2010 (Vikram Samvat 2067). The day of Diwali is auspicious for every Hindu but it is more important for business and business community. People take various investment decisions on this day. The attempt of this article is to help investors take informed investment decisions based on their Moon signs.Aries:Arians should avoid taking rash decisions concerning investment. Speculation should be avoided generally. Property investment may give positive results. Special care should be taken before entering into any contract and signing any document. Some Arians may gain from abroad. Investment in shares of good companies may also be considered.Taurus:Natives of Taurus should exercise extreme caution while investing in property. It may be advisable to go through the history of land or builder before taking any investment decision. There may be gains from stocks if investors go by fundamentals. Greed should be avoided and investment should be made on sound analysis. Ideal investment may be government bonds, IPO’s and mutual funds. Risk free investment is better option.Gemini:The Gemini people may invest in property for long-term for real gains. If the idea is to gain quickly, this may become a cause for loss. The natives are advised to remain careful while taking loans. They may fall into some kind of debt trap if prudence is not exercised in managing debts and investments. The focus of investment should be on the shares of good companies. Investment in gold may also payoff in the long run.Cancer:Speculative gain is possible from stock market if it is done with caution. Investment should be made on good companies. Care is necessary for investment in property. It is not wise to be overambitious with respect to future price rise of property. Shares or mutual funds may be good option. Gossip and hearsay should be avoided while taking investment decision. Investment in business may also prove to be a good option.Leo:Goddess of fortune seems to be kind this year to Leos. Possibility of gain exists in shares, stocks, property and the like. The stars of fortune are smiling and if such fortune is backed by intelligent plans and investment, good money can be made. However, it will be necessary to control nerves and be watchful. Some calculated risks can be taken for extra advantage.Virgo:If investment has been made in property, the projects may get delayed. Caution should be taken while making new investment in property. Read the agreements before signing them to find the finer points. Informed investment in stock market, fixed deposits, government bonds and interest bearing securities are better options. In short, it is important to minimize risks.Libra:Librans should be extra careful while investing in property. Gains can however be made in commodities market and share market. Planned investment will be better than speculation. Investment in gold may also be done for long-term gains. For investment of any kind, a proper survey of the situation will be beneficial. Possibility of gains from foreign source also exists.Scorpio:The time is very good for those who are planning to buy property for personal use. Gains from old property or ancestral property are indicated. Share investment may also give good returns. Stars are favorable with respect to investment right now. However, some calculated risks may be necessary to convert the advantage into material gains. Investment in gold and ornaments can be made for risk free investment.Sagittarius:Extreme caution should be exercised in taking investment decisions. It is better to make efforts for maximizing earnings. Invest the hard-earned money in safe instruments like Government bonds, securities, insurance and mutual funds. It is better to avoid speculative investment. Property investment should also be done with due prudence. It is better to seek expert opinion regarding projects in which investment is to be done.Capricorn:Time is good for several types of investment. Money can be made from almost every investment, but, investment should not be done with a blind eye. Caution should be exercised with respect to property investments. Delay in delivery of projects may become a matter of concern. There may be some issues with respect to financial liquidity as well. Unnecessary expenses need to be curbed.Aquarius:Money can be made from stock market. Speculation and short-term investment may also payoff well. However, informed investment is advisable. Investment in property may also give good returns. Gains from abroad are also indicated. Stars are favorable right now and prudent investments may become rewarding. Yet, caution is advisable while signing contracts and in finalizing deals for long-term.Pisces:There may be some career-related issues for natives. Such issues can be overcome with sustained and intelligent efforts. Risky decisions with respect to career and property investment should be avoided. It is better to avoid speculation. Investment in government bonds, securities and fixed deposits may be good investment instruments. Investment in gold can also be made.