Credit increase by 150 – 200 points in 45 days. This is a proven system that i have researched for 12 months, and used my own funds to enter my clients into the program.
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http://www.ImproveCreditHistory.Net/ Learn tips and hints involved in credit repair to improve credit history and scores.
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Fair Isaac Corp., the company responsible for FICO credit scores, has decided that when it unveils a new version of its credit score system in September, it will close the loophole that allowed piggybacking.
Angry proponents of piggybacking say they’ll organize a grass-roots campaign to fight against the change.
With piggybacking, a consumer with poor credit is placed as authorized user on the credit card of a person with a stellar credit history. Authorized users benefit from having the payment history of the primary cardholders show up on their credit reports, thereby improving their credit scores.
Lenders have complained that it is fraud and distorts the credit score system.
Internet companies have created an industry by playing middleman — paying a small sum to those with good credit to take on those with bad credit as authorized users, then collecting healthy fees from those consumers.
Now one of those Web-based firms has threatened to organize an effort to expose problems in the credit scoring system.
“Our very existence (proves) that the FICO system is so flawed,” says John Coates, spokesman for Instant Credit Builders based in Largo, Fla.
Fair Isaac says that starting in September it will ignore authorized users as it calculates the renowned FICO credit score.
“Fair Isaac has become aware that Web-based services are using authorized trade lines to defraud lenders,” says Craig Watts, spokesman for Fair Isaac. “While we work with the financial services industry on an industry solution, we wanted to protect lenders and FICO scores.”
The FICO credit score is used by lenders to assess risk in lending money. Lenders factor this number, which can range from 300 to 850, in credit decisions. Watts says 90 percent of the largest U.S. banks base their loan decisions on FICO credit scores.
Watts says the change will prevent people from misleading lenders about their true credit risk.
Coates argues the system can’t be easily changed.
“Maybe our system can definitely show you, OK, there seems like there’s a loophole and there are flaws that increase the score. You know what? There are also a zillion flaws that decrease the people’s scores.”
He says Instant Credit Builders plans to bring to light every flaw in the credit scoring system.
“We are building a community of people that are going to stand up. We will petition against it and we are actually going to formulate plans to work together as a grassroots effort to actually create a financial revolution,” he says.
Those who rent credit histories won’t be the only ones suffering a loss. Often parents will attempt to give their children a jump-start on a good or improved credit history, and they’ll be taking a hit as well.
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http://www.ScoreMoreCredit.com – You can quickly and legally repair your credit now and increase your score in as little as 45-60 days. Billy Alvaro endorses ScoreMoreCredit.com
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Repair Your credit Easily By Yourself. http://offto.net/credit_917e/
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Want a better credit rating? The usual way to get one is to pay off debts… but some people are now doing something different: piggybacking on someone else’s score to make theirs look better.
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Follow these steps to improve your credit score in months instead of years.
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Available to the public, the system is also used by real estate agents, mortgage brokers, investment advisors, and accountants across the nation to help borrowers save money, qualify for the best loans, and reduce interest payments.
An expert in residential home financing, Philip X. Tirone has a unique background in difficult-to-obtain loans, having started his career working with borrowers with stated incomes and/or poor credit scores. With this foundation, he became a specialist in the credit-scoring process, authoring the book, 7 STEPS TO A 720® CREDIT SCORE, as well as the bestselling workbook, APPLYING THE 7 STEPS TO A 720® CREDIT SCORE.
Philip is the founder of the Mortgage Equity Group (the MEG) and specializes in educating borrowers and helping them increase their credit scores so they qualify for the best loan programs available. The MEG is a non-traditional mortgage company composed primarily of team members committed to providing each homebuyer with specialized time and services unique to his or her needs, complementing traditional mortgage services with innovative programs aimed at reducing mortgage payments and maximizing buying power.
Philip’s commitment to educating homebuyers prompted him to create the 7 STEPS TO 720® LICENSING PROGRAM FOR PROFESSIONALS in which he trains other mortgage planners and industry professionals on consistently outperforming the market by helping clients improve their credit scores. As well, he established the 7 STEPS FOUNDATION, a charitable fund that allocates resources to help low-income and underserved Americans increase their credit scores. Philip has an uncanny ability to develop innovative strategies to simplify the mortgage process. As a frequent guest lecturer at the University of California Los Angeles, Philip has authored and delivered numerous speeches about avoiding the “Mortgage Lifestyle Dilemma,” a phrase he coined to describe an emotional buying decision that results in overextension and a life that revolves around high mortgage payments.
Philip and his programs have been featured in the Los Angeles Times, New York Times.com, Wall Street Journal, Newsday, Woman’s World Magazine, San Francisco Chronicle, Bottom Line Magazine, and Bankrate.com, among others. He was recently featured in the New York Times bestseller, Secrets of the Young & Successful. In 2008, he will be featured in Dan Sullivan’s forthcoming book, Industry Transformers, which identifies eight individuals who are having a profound impact on their industry by creating meaningful ways for their clients to bypass the bureaucracy and the red tape most consumers face.
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http://www.CreditRepairPublishing.com
LOW CREDIT SCORE: Five Ways Your Credit Score Could Be Costing You a Fortune.
While some surveys show
that 9 out of 10 consumers
are unaware what their credit
score is, I’d like to quickly
share with you how your
credit score could be costing
you a fortune in more ways
than you can imagine.
We all know a low
credit score will make
everything in the world of
finance more expensive
because of higher interest
rates from lenders due to
being considered a greater
credit risk (i.e. higher
interest rates on car, homes
and credit cards). While
this may be considered common
knowledge by some, it’s truly
devastating effects are
understood by few.
For example. If you
purchase a $200,000 home on a
30 year fixed mortgage at 8%
interest instead of 6%
(because of your credit
score); that 2% is going to
end up costing you a total of
$96,934.11 over the term of
the loan. Now, think about
how many “extra” years you’ll
have to work to pay off
$96,934.11 because of an
extra 2% in interest?
The part few people
talk about is all the other
areas in life where a low
score will increase your cost
of living on an annual basis.
For example. In addition to
paying more for a car, home
and credit cards, a low
credit score will most likely
have you paying more for the
following as well.
1.) AUTO INSURANCE.
As many as 92% of the 100
largest personal automobile
insurers use credit
information to underwrite new
business, according to a 2001
study by Conning & Co., an
insurance-research and asset-
management firm.
2.) HOMEOWNERS
INSURANCE. It’s thought many
insurance companies see a
correlation between low
credit scores and increased
property insurance claims.
Therefore, a low score will
result in higher rates.
3.) LIFE and HEALTH
INSURANCE. Customers who are
unable to pay their monthly
insurance premium thereby
pass along that increased
cost to the insurance company
whose stuck with the bill
resulting in a loss for the
company. Since customers who
pay without lapse are more
profitable it is felt by many
that a low credit score now
even affects a monthly life
and/or health insurance
premium negatively.
One of the more
shocking areas where a low
credit score will you cost
you is in the area of
employment. It’s estimated
as many as 42% of employers
now do credit checks on
applicants before hiring them
(according to a 1998 survey
by the Society for Human
Resource Management).
While many employers
claim they only do it to
“verify” information on your
application (such as where
you live and where you have
worked etc.) we can both
assume they are taking the
liberty to “have a peek” at
how you handle your financial
affairs as well. According
to the Public Research
Interest Group (PIRG) as many
as 79% all credit reports
contain errors – 25% of which
are serious enough to cause
the denial of credit
(according to a 2004 report).
And that’s all the more
troubling in light of the
increasing impact a bad
credit report can have, says
Ed Mierzwinski, director of
PIRG’s consumer program.
“It’s outrageous that the
credit bureaus are claiming
their scores are accurate
enough to take people’s lives
and screw with them like this”.
Please rate this video.
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Continue reading COST OF LOW CREDIT SCORE: info from the Credit Secrets Bible…
http://www.AttractiveCredit.com – 800-605-9085
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Credit Restoration | Rebuild Credit | Repair Credit Score
Credit repair deletions, increase credit score, credit restoration
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