Do It Yourself Credit Repair - You Can Do It !

What If You Cleared Your Credit and Your Credit Score is WORSE?

~Just Me Again — Wed, 26 Mar 2008 13:42:00 +0000

Okay, so you buckled down and started clearing up your credit report from all those dents and dings and you proudly go to check your credit report and you nearly fall over when you see the sad little 629 you started with has dropped to an even sadder 550.

You're probably wondering what the heck happened. You got some collections removed and you even applied for (and received) a credit card from First Premier Bank to help boost your credit. How could your credit score be lower?

The inquiry from First Premier probably isn't hurting you because there is now an open line of credit reporting on your credit report. However what probably is hurting you is the fact that you were issued a Mastercard with a $250 line of credit and First Premier in their infinite wisdom charged you fees and membership dues and ran you immediate balanced up to $201. This makes it look like you're a major spendthrift and you don't want your balance close to your credit limit.

Quick Remedies?
Pay down Premier to at least less than $100 owing but do not pay it off, you need to create a payment history and you obviously can only do that by making monthly payments.

Next, concentrate on getting a credit card with a high credit limit and only use it a little so you have a few months of monthly payments - this will help to raise your credit score quickly.

Those cheesy catalog cards actually have a purpose. You can get a credit limit you would otherwise not have a snowball's chance of getting and this card is reporting to at least one major credit bureau. Meaning, it will look like you have a Mastercard with somewhere between a $2500 and $7500 credit limit. Your credit score will boost quickly on that.

So you'll look great on one credit bureau. How does that help your overall credit scores? Easy, once you have established a 90-180 day payment history, write to the other two credit bureaus and request that the account be added to your credit file. This is called "Adding a manual tradeline". It won't be updated automatically, however it will help boost your score on the other two credit bureaus by showing you have an unsecured, revolving line of credit with a lotta space between your balance and your credit limit.

Have your bureaus updated periodically to keep building up your credit score and many people report an increase on the average or 175 points and some over 200 points in less than 60 days.
UltraVX is one of the hottest catalog cards people are using to clear their credit because they offer up to a $25,000 limit. However that limit isn't given off the bat and it can take a while to get up to that amount. It is still a very worthwhile offer none the less.

I personally like USA Platinum check out these perks and you start off with a limit of $12,500:

The Card is an Unsecured Line of Merchandise Credit
The Shopping Club offers over 14,000 products.
Upon request, credit limits increases are available to those that qualify.
The merchandise credit line is reported to a major Credit Bureau.
No credit checks.
No employment verifications.
No interest charges.
You can be approved even if you have No Credit or Bad Credit

Click the pretty card to apply:

And there you have it, it's easy to do and will require just a little little effort from you - get to it and enjoy the benefits of a better credit score!

Another Way to Make Money to Help Clear Your Credit Issues

~Just Me Again — Fri, 15 Feb 2008 15:08:00 +0000

I told you previously about Pay Per Play, now is the time to get in if you've been sitting on the fence.
All you need is a website or blog (c'mon Wordpress and Blogspot are free kids!).

They have the ability to serve up billions of ads and as you know there are more computers than televisions in the world and this makes PPP a very powerful advertising medium. You don't make money by clicks, when someone logs onto your website, a 3-5 second audio ad will play once. Because the ad played - you get $$$. They said from the get go that they would have a limited membership and closing time is here!

Sign up here

Taco Bell, Harley Davidson, HBO and some other major players are already on board - putting the code on a blog or website couldn't be easier - can you say, "Cut n Paste?".

This is a F*R*E*E opportunity that is taking the advertising community by storm.

This will be bigger than radio, television and all other forms of media combined!

Get full details here: Pay Per Play

Where to Start Clearing Your Credit Report

~Just Me Again — Tue, 15 Jan 2008 14:31:00 +0000

So for the new year you decided to work on your credit, good for you!

Improving your credit score will save you tons of money in the long run in forms of interest and other penalties banks and financial institutions love to heap on people with mediocre to poor credit scores and it's easier than you think to raise your credit score.

Starting to clear your credit is the hard part and by that I mean the actual getting started. It's a pain in the posterior to write to the credit bureaus or go to their websites and then fill out the forms and then wait. What if you could get all three credit bureaus at the same time?

Check out Credit Reporting.com not only do they give you a merged report, they have a ton of resources available including dispute letters (change it to fit your own needs and make it individual) and they are very reasonably priced too.

Refer to the tips I've given you in this blog, it's easy to clear your credit once you start. Remember everything doesn't have to be gone overnight and it took time for your credit to fall into disrepair and it will take time to recover. Don't be impatient and don't get discouraged. Just choose one account at a time and work on it - the results will be fantastic!

Look Out - My Teen Has a Credit Card

~Just Me Again — Mon, 24 Dec 2007 17:51:00 +0000

Actually it's not that scary....

I did a lot of shopping around looking at a couple of different programs for teen credit cards. They are actually gloried debit cards however parents have 100% control over the cards. That way your teen can learn the basics of learn to use credit wisely in a more controlled environment.

Visa Buxx caught my eye first and after reading over their literature - I had to pass. From what I gleaned from their material - they charged a fee for every single charge made on the card - geez that would get expensive and quickly so!

I then looked into UPside Visa - they have some flashy, fun card designs and a couple of different programs. I went with the no monthly fee flat rate $24.95 a year plan and they do not charge fees on any charges made with the card - in fact, your teen can earn points for the charges they make.
This is the card I went with:
Rad Orange Tribal Butterfly Visa for Teens

Want more info? A section that profiles the thoughts parents might have as well as the pros and cons of a teen having a credit card are laid out at Teen Credit Card Review.

Her card will be here in 10 days - I'm depositing the checks she got for the holidays this year and that will be her beginning balance. More will come as she does chores around the house and earns money. I'll update you how it goes.
And have a very happy and safe holiday!

Why Your Credit Repair Techniques Suck

~Just Me Again — Thu, 20 Dec 2007 21:13:00 +0000

The number one reason I see people fail when they are really intent on clearing up their credit reports is because they lose their steam and then it falls by the wayside.

Once you start clearing up your credit report - it's imperative that you stay on task and see it through. You can't put it off because it's really not fun to call and write to collection agencies, it's not fun to send yet another dispute into the credit bureaus and then there's always that gloriously fun following up and keeping notes of what you've done and what you haven't.

However, if you skip a step or you lose interest in what you're doing - you will pay and you will pay in many ways. You will not have cleared up your credit which will cost you in the form of higher interest rates and large penalties for not having a good credit score. You can be denied employment, loans and even insurance if your credit score isn't good. And those are just the main ways you can be affected.

Try to stay motivated and keep with it. I tell people to start with the smallest issues and the smallest collection accounts first so they can stay motivated. If you go in guns ablazin' after the biggest derogatory items on your credit report - you can get discouraged because you aren't seeing any progress. However if you go after a $60 collection on your credit report and negotiate to have it deleted upon payment in full and then you get your copy of your credit report back with a slightly higher credit score and the collection is now gone - it's easy to see you've made progress and you'll stay motivated to see your credit repair project through until the end.

Innovis - The Fourth Credit Bureau

~Just Me Again — Thu, 13 Dec 2007 13:14:00 +0000

If you've been working on getting your credit cleared up, you know the three credit bureaus by heart (Okay, say 'em with me...) Equifax, Experian (formerly TRW) and TransUnion. In case you didn't know, you can add a fourth to the list: Innovis Data Solutions.

Innovis is a little different. Unlike the other three credit bureaus, Innovis doesn't make a business selling consumers' credit histories to lenders, insurers and potential employers. Innovis does something a little bit different, they specializesin helping creditors compile mailing lists.

If there is adverse information on your Innovis credit report, accurate or not, you could be receiving "bad credit" offers in the mail. Whether you think that's a big deal or not is up to you - personally, I think inaccurate information is inaccurate information and should ALWAYS be corrected.

Innovis has quietly been a major player with your credit information since the early part of 2001 when the mortgage financing giants Fannie Mae and Freddie Mac required their mortgage servicers to report each borrower's history of payment to the Houston-based Innovis. Fannie Mae requires mortgage serviceres to notify Innovis of deliquencies and foreclosures and the Freddie Mac requirements entail that every single payment is reported - no matter if it was current or late. Also, the federal government reports to Innovis the payment schedules of any individual that is late with payments to the feds.

Innovis has two types of payments that is offers. One is called "Failsafe" and it is a database that contains the names of consumers who are currently late or have been late on their payments. The other product is named "New Movers" is a monthly compilation of people that have reported a change of address. If your brand new mailbox was stuffed full of advertising mail right after a move, then guess who probably sold your information?

Most people have never heard of Innovis. They are an affiliate of CBC Companies, a business based out of Columbus, Ohio that owns not only Innovis; but also a network of local credit bureaus, a nationwide collection agency and an employee background checking and screening service.

Want to know what Innovis has on you? If you go to their website, you will be directed to "contact your local credit bureau". However, if you want to get a copy of your Innovis report, write to

Innovis
PO Box 219297
Houston, TX 77218-99297

Don't let anyone keep records about you unless you know what is in them, even if it's only mainly for the purpose of mailing you junk mail!

Credit Cards for Teens

~Just Me Again — Wed, 12 Dec 2007 19:41:00 +0000

I have been racking my brain trying to come up with a few "extras" for my 14-year old. Teens are just hard to buy for and mine is no exception. She's a wonderful kid and I'm immensely proud of her and she honestly doesn't ask for much so I like to make Yuletime very special.

I had looked at Visa cards for teens last year thinking one might make a great way to teach my kiddo a little further about financial responsibility - she just didn't seem ready and I wasn't really thrilled about having a yearly fee for the card that I found buried down in the fine print. She's matured so much over the past year - I think she's ready and so I did some research and I found some cool cards just for teens with NO yearly fees, here's the skinny:

Reloadable prepaid Visa® card for teens,
managed by parents.

No activation fee, no monthly or yearly fee.

Created for families’ needs with full parental control.

Quick, easy online application.

Free money loading with direct deposit.

Accepted anywhere Visa debit cards are accepted,
including abroad and online.

And they look pretty cool too - check these out

Cool Black Visa for Teens

Rad Orange Visa for Teens

Guitar Hero Visa for Teens

Anime Visa for Teens

Since these are debit cards - they don't report to a credit bureau or help or hinder credit scores - however they are a wonderful way to see if you have a saver or a spendthrift and help your teen learn good spending habits now instead of winding up as a college student that went credit card crazy and has $40,000 worth of credit card debt when they leave college.

A Little Off the Usual Credit Topics - But Cool Info I had to Pass On

~Just Me Again — Sun, 09 Dec 2007 22:42:00 +0000

I got this from Matt Garrett of TopKeyword Lists (a great place to get your keywords for marketing) - Much like Matt- I have to admit I had to read their sign up page twice too - I kept thinking there was going to be an "enter your credit card or paypal information here" pop up - but no- I was wrong - it's free.

Read this information below :

Hi,

I must admit I've gone back and read the sign up page for this one several times, as it just seems to good to be true, but they've got some major players on board, like HBO, Taco Bell, and Harley Davidson.

it's called PayPerPlay.
it's free to join.
and you get paid for every visitor to your site!!!

yup, I told you it sounded to good to be true, but I'm sure not going to miss out on trying it out...

http://www.payperplayadverts.com

they also credit you for referrals on two levels, so this is going to spread like wildfire!
we're all going to be bombarded with promo emails about this from every side over the next few weeks, mark my words!

If you know anyone with a list of subscribers, or a site that gets ANY traffic, sign up now and send them a quick email telling them about it, you could end up earning a nice residual income from introducing just a few people...

I'm telling you first, but as soon as I've sent this email out to you I'm going to be getting in touch with everyone I know!

http://www.payperplayadverts.com

So what's it actually about?

Well, it's a new advertising system that plays a 5 second audio "advert" when someone visits your website.

It's got some very big players involved simply because big TV networks are losing their "market share" to websites hand over fist!

People are spending more and more time online and less watching TV, as well as watching less adverts on TV, especially as their are all these new bits of technology that allow us all to automatically record out favorite shows and fast forward through the adverts, thank god! :)

So PayPerPlay is seen as the way forward for putting ads bck in front of us all, but this time instead of the big TV networks getting the advertising revenue, any website owner can grab their share...

At last their seems to be a system that is a very REAL alternative to AdSense for a simple quick way of making money from any website, and people don't even need to click on the ads for you to get paid, it's automatic!

cool or what!
;]

go sign up now and get started on sending out some emails:

http://www.payperplayadverts.com

Games Credit Bureaus Play

~Just Me Again — Wed, 05 Dec 2007 22:58:00 +0000

The people that work at the credit bureau are just that; they are people just like you. Some are happy in their lives , some have crappy personal lives that spill over into their work, some have good attitudes and some have bad attitudes - why am I telling you this and what does it mean to you?

It means sometimes the person that is handling your credit disputes won't try as hard as they need to, there can be a lot of reasons why - and none of them are beneficial to you.

I had a personal situation a few years ago where I had a medical collection that was absolutely erroneous and the bureau said it was verified as mine - however THE COLLECTION AGENCY WAS OUT OF BUSINESS!

There's no way it was verified and having already done my own legwork to verify it (or rather not verify it) I knew I was a victim of someone else's laziness, ineptness or just plain not caring.

So what do you do? You challenge it that's what you do. You're entitled to know exactly where the verifying information came from upon written request and that's exactly what I did. Lo' and behold - the collection was immediately removed when I asked for verification.

The moral of the story is this - if you feel an account hasn't been perhaps as deeply researched as you believe it should - CHALLENGE IT!

Credit Report Dispute Letter Do's and Don'ts

~Just Me Again — Mon, 26 Nov 2007 00:09:00 +0000

Okay, so you've gotten a copy of your credit bureau report and you're ready to start disputing items.

First of all, don't outright lie in your dispute letters. It will get your account red-flagged within the credit bureau as a chronic complainer. Instead, attack your credit bureau dents and dings from another approach. Remember this, any item that is appearing on your credit report MUST be verified. Every piece of information must be verified. If it can not be verified - it must be removed and it doesn't get any more simple than that.

Collection agencies are notorious for "re-aging" accounts. This means they basically make up an open date when they start collecting on an account and it makes it actually stay on your credit report longer than it should.

Ask that a collection account be fully verified.
Ask if the agency purchased the collection outright and if not, the opening date should shown as the open date of the account with a separate date of when the account was placed for collection.

Ask for exact dates of late payments and do the math yourself when you get the results. Often late pays at 15-20 days are often reported as over 30 days late by many computers and these should not be reflected on your credit bureau report. Remember, it's only 30 days late and above.

Keep your dispute letter short and sweet and go straight to the point. The person investigating your claim doesn't really care that your ex-husband with whom you have the joint JC Penny's card ran off with your brother's ex-sister in law two years ago and ran up the charge cards. They just want to check to see if you're on the account and if you have a legal liability to pay. In a case like that, if you really feel you never signed an account application, ask that the original application is pulled to verify it and if it can't be found - the account may very well be deleted.

Those are just a few tips - more will be coming - and feel free to post a question or a comment - I'll do my best to answer you.

Want To Give Your Opinion About a Credit Card?

~Just Me Again — Sat, 17 Nov 2007 15:07:00 +0000

There is a survey that wants your input.

The survey is 8-click-n-answer questions and your email and name won't be asked.

Here's the link:

Fill Out an 8 Question Survey -No Name No Email Asked
We Want Your Opinion!
Help us better serve you! By taking this survey, you will help us understand your needs and build a better business credit card for your business.

Give your honest opinion and help them build a better credit card!

How the Platinum Plus Credit Card Works to Improve Your Credit

~Just Me Again — Fri, 16 Nov 2007 03:53:00 +0000

It's a well kept secret but if you're seeking to improve your credit score, you've no doubt run across information (in my blog too) about using catalog cards to raise your credit score. And yes, it works and it works very well.

A powerhouse card to use for that purpose is the Platinum Plus Mastercard. It has some great features that help your credit look good and here is just a sampling:

Approval is *guaranteed when qualifications are met.
The Card is an Unsecured Line of Merchandise Credit
The Shopping Club offers over 14,000 products.
Upon request, credit limits increases are available to those that qualify.
The merchandise credit line is reported to a major Credit Bureau.
No credit checks.
No employment verifications.
No interest charges.
You can be approved even if you have No Credit or Bad Credit

And the credit line is $7,500. This means on your credit bureau report, it will appear that you have been given an unsecured (meaning you're not considered a credit risk) line of credit. This will automatically help your credit score.

Do not max out this card - use it wisely and don't pay it off in full every month; that won't help your credit score either as it doesn't really establish a payment history.

Find one moderately priced thing you need or buy a present for someone - in any event - use this credit line and then pay it off. Try to have 4-6 months worth of payments for whatever you buy so you have a minimum of a 120 day payment history for the credit bureaus to report. Then notify the other two credit bureaus that you'd like this tradeline (creditor) added to your personal credit report.

You should see an improvement in your credit score within about 45 to 60 days and be wise with your credit and keep your score high.

Overcleaned Credit Report to Credit from Bad to No Credit

~Just Me Again — Sun, 11 Nov 2007 13:34:00 +0000

I got an email from someone that had used my techniques to clear a number of items off their credit bureau report. Now, they have the opposite problem, they don't have a low credit score due to collection accounts, they have a low credit score due to no credit experience.

A low credit score is a low credit score and your goal is the same, to raise your credit score to the point you're not considered a credit risk or a very low credit risk and you can borrow money and qualify for credit at a better rate so you aren't paying so much in interest.

You will have a few options to get up your credit rating score in a timely fashion.

1- Get a secured credit card such as the Premier Mastercard. Where the amount you deposit is the amount of your credit limit.

2- Get an unsecured catalog card such as the ones I recommend on the left-hand side of this page .

3- If you're in need of new transportation, buy a car. You will have to fork over a down payment but it's another way to build a strong credit score.

Once you get your cards or loan, don't max out your credit limit. It's smart to buy something you need and that you can pay off over 3-6 months. Also, never be late on a payment, late to the credit bureau is over 30 days late, but make your payments on time.

Last but not least, use the tips for getting your account reported to all three bureaus (remember the credit bureaus are competitors and do not share information) in this blog post.
Do this once you have about 6 months worth of payment history at the least.

What If An Unsecured Credit Card Only Reports to One Bureau?

~Just Me Again — Thu, 08 Nov 2007 19:36:00 +0000

If you're using the catalog card technique to raise your credit score, you're smart - very smart - however don't feel disheartened when you find out that the credit card only reports to one major credit bureau.

Did you know you have the right to request that a credit item is added to your personal credit bureau report? It's called "adding a manual tradeline" and you can request it at any time.

And here is how the process works, let's say you get the UltraVX Visa Card and this particular card reports to Transunion per my conversation with an account rep there, and let's say I see my credit score go up about 200 points and I'd like to look as tasty to creditors on my Equifax and Experian reports; so I write both bureaus with my personal information and request that the Ultra VX is added to my personal credit bureau report including the account information.
The other two bureaus will contact the creditor (in this case UltraVX) and get my open date, high credit, minimum payment, current balance and pay history for the past 12 or 24 months - only late payments over 30 days will be reported as actually "late".
This information will be reported on Equifax and Experian and will help to raise my credit score there.

However there is a downside to this, just because you add a tradeline to your personal credit report, it won't be updated to the two credit bureaus you added it to on a monthly basis - so if you choose to add this you will need to follow up every once or twice a year and have the account updated to continue to show an ongoing credit relationship between yourself and the creditor that is positive and this will continue to impact your credit score in a good way.

Here is a listing of the best deals we've found for catalog cards:

All American Gold is a card with a low sign up fee and reports to major credit bureau.

Ultra VX Visa is the new kid on the block and offers a great rate, low sign up fee and reports to a major credit bureau.

Platinum Plus is another card that has a reasonable sign up free and credit limit increases along with reporting to a major credit bureau to help your credit score.

USA Gold was one of the earliest catalog cards and is one of the most used today. Great rates, competitive sign up fees and reports to a major credit bureau.

USA Platinum is the sister-card of USA Gold has a higher unsecured limit and can add more oomph to your credit score. Check 'em out!

The Secret to Beating Medical Collections Revealed...

~Just Me Again — Sun, 07 Oct 2007 23:02:00 +0000

Medical collections are usually the result of a catastrophic illness or something insurance didn't cover or cover completely. In any event, now you have a collection or a collection of collections on your personal credit report - but you actually have some leverage for getting those collections off your personal credit report.

You can dispute a collection account if it is reported as a "medical collection" or "XYZ Hospital" as a potential creditor or insurance company could construe that you had an ongoing medical condition or preexisting condition to cause your financial hardship. Additionally if you ever add a personal statement on your credit report - do NOT add that you had any type of medical issue or illness for this same reason.

If you see entries such as these on your personal credit report, dispute them with the credit bureau as inaccurate and you feel that it is a violation of your privacy to report medical issues. Normally one of two things will happen:

1- your account will be moved as the credit bureau will ask that the collection agency report the item using new information (ie: delete the medical reference) and your account gets lost in the shuffle or the agency doesn't think your account is worth paying a fee to manually report.

2- your item will be re-reported with the designation missing. In this case - you will need to contact the agency and either negotiate payment arrangements that you can live with or get them to settle for a lesser amount (start ridiculously low and settle around the middle price of the debt whenever possible).

Additionally, ask if the collection account can be removed in exchange for payment - you'd be surprised how often the agencies will agree in order to get the debt paid off.

Use this tip and see your way to a better credit score and you can also boost your credit score further and help the recover process by adding an unsecured credit card that reports to the bureaus. No matter how scary your credit score is - you will qualify - that's the whole purpose of these cards and it's not one of those things where the amount you deposit is your credit limit - these are unsecured lines of credit that range from $2,500 to $12,500.

I've listed the top contenders on the main page of this blog on the right hand side, Ultra VX Visa gets the most attention because it's the most versatile card - but all of them are great deals for rebuilding your credit and enhancing your credit score . Check it out - it works!

Handling Collection Accounts - The "Prove It" Approach

~Just Me Again — Wed, 03 Oct 2007 17:03:00 +0000

Okay you've gotten a copy of your credit report and you're looking it over and you see a collection account, wait you see two, no three collections but they are all for the same amount and only the dates are different.

Can you guess what happened? The original creditor either placed your account with an outside collection agency that reported the account on your credit bureau or they sold the account. Then the account got transferred again to another agency and it probably happened a third time.

What to do?
Dispute it first. |
Do not call the collection agency. Dispute it through the credit bureau or bureaus (Equifax, Experian and/or Transunion) first and one of two things will happen;

1- Your collection account will be deleted from all three credit bureaus as it can not be verified and has been transferred to yet another collection agency that either doesn't report to credit bureaus or hasn't reported yet.

2- Two of these collection accounts will fall off as they can not be verified as accurate information as the account being reported can not be verified as belonging to you. So you are left with a shining, loud collection account on your credit report(s).

Then What?
Now, you go to the collection agency and make arrangements to pay. The majority of collectors work on commission so they will push you to pay the amount in full. If you're able to pay the balance, negotiate for payment of a lesser amount. Start at 25% of the balance and you'll probably settle somewhere around 60%.

IF you get someone that agrees to let you pay a settlement amount, get their name,
phone number extension, title and also ask them to send you the agreement in writing. If they refuse, they may not be on the up and up in the first place. If they REALLY want their money they will send you confirmation of the agreement and stick to your guns about it or you may wind up sending in a payment that is considered a "partial payment".

Another angle use is to ask for deletion of the item from your credit report. If you're told that is illegal - no it's not. The credit bureau only reports the information sent in by the creditors and collection agencies, they can send in a deletion notice at any time, it's done every single day and I've helped people who were clearing their credit and gotten it done myself. So be prepared to accept "No" as an answer but ask anyway, it's worth a try. Again get the contact information of the person you're speaking to and ask to get it in writing.

Upon receipt of your agreement in writing, hold up your end of the bargain and make the payment. Then when your payment has cleared, send a copy of the letter and a copy of the canceled check or money order receipt to the credit bureau or bureaus that is reporting the collection account and ask that it be updated or removed (whichever your agreement was with the collection agency).

And that's one way to handle collection accounts - more to come.

Use This Secret (and Legal) Method to Raise Your Credit Score Up To 200 Points

~Just Me Again — Sat, 29 Sep 2007 03:00:00 +0000

Okay so your credit took some hits, dents and dings - guess what? You can repair that yourself as well as up your credit score by an average of 200 points. This means you can go from a credit risk to a preferred customer and the rewards you reap come in the form of lower interest rates and better deals on the credit and loans you apply for.

Why pay more to borrow money when you don't have to?

Read the basics for clearing your credit report here in a previous posting.

Then when you have gone as far as you can with clearing your credit, disputing items and getting credit entries corrected - now it's time to work on raising your credit score and there's a tried and true method that works very well.

Ever seen one of those offers for a catalog credit card?
Well, they aren't the useless advertisements to get you to buy things from a catalog, in fact they are a very powerful way to raise your credit score and here is how it works.

When you get a catalog card with anywhere from a $2500 to a $12,500 unsecured line of credit, it gets reported on your credit bureau report just like any other revolving line of credit. This raises your credit score because it appears that the creditor has given you an unsecured line of credit and in turn makes you look even more credit worthy.

The catalog or store credit cards usually charge a one time sign up fee and it's a good idea to use the card to buy something small and pay it off over a period of a few months to show that you can use credit wisely. This will also cause positive credit activity to be reported on your personal credit report.

If you need a way to establish or re-establish credit after a bankruptcy, divorce, job loss, illness or other financial fiasco; this is a great way to do it.

Here are a few companies that we like:

All American Gold is a card with a low sign up fee and reports to major credit bureau.

Ultra VX Visa is the new kid on the block and offers a great rate, low sign up fee and reports to a major credit bureau.

Platinum Plus is another card that has a reasonable sign up free and credit limit increases along with reporting to a major credit bureau to help your credit score.

USA Gold was one of the earliest catalog cards and is one of the most used today. Great rates, competitive sign up fees and reports to a major credit bureau.

USA Platinum is the sister-card of USA Gold has a higher unsecured limit and can add more oomph to your credit score. Check 'em out!

Beginning Clearing Your Credit Report

~Just Me Again — Thu, 27 Sep 2007 22:57:00 +0000

Your credit report is the only way many people making important decisions about your finances, employment, and insurance will ever know you. You've probably heard it said, "You only have one chance to make a good first impression." And especially in the case of your credit report, it's true. There are many companies that claim they will repair your credit. There is no need to pay someone else to do the job that you can accomplish all on your own. Since it is your own credit report you're working on improving, you might be a little more motivated to clear up any dents and dings that might be appearing.

The Ugly Truth
The first step to clearing your credit is to take a deep breath and check a copy of your credit report. Most people find their credit is not as bad as they anticipated. There are three main credit bureau companies that provide consumer credit reports and since they are competitors, they won't have the same exact information. Therefore, you need to get a copy of your personal report from each one.

Here are the points of contact for each bureau:

Equifax P.O. Box 740241 Atlanta, GA 30374-0241
Equifax Website .
TRW/Experian P.O. Box 2104 Allen, TX 75013-2104
Experian Website .
TransUnion P.O. Box 1000 Chester, PA 19022
Transunion Website

Additionally, consumers are entitled to a free credit report from each of the credit bureaus once per calendar year that can be requested from the following website: http://www.annualcreditreport.com .

When you receive a copy of your report, check it carefully from top to bottom. Verify each entry from your name and address, to each and every creditor listed on your report is absolutely correct. The bureaus only report the information they receive from creditors, so it is not an exact science and mistakes do happen. Make a list of anything you deem inaccurate.

First Steps
Take your list and for each of the three credit bureaus, fill out the following information: Date, First Name, Middle Name, Last Name, Maiden Name, Suffix, Current Address, City, State, Zip, Social Security Number, Date of Birth, Information to Dispute.

For each credit entry you are disputing provide the following information: Creditor, Account Number, Reason for Dispute. When you are finished, sign and mail the form to the appropriate credit bureaus along with copies of any pertinent paperwork you may have for example, a copy of a canceled check proving an account was paid in full or a copy of your divorce decree showing an account is the responsibility of the ex-spouse (although many creditors will hold to the fact if the account was opened jointly, it will remain joint until it is paid in full and closed). Keep a copy for your own records.

Remember,all information on your credit report must be verified in order to be reported. If you have a collection account showing that you do not recall having or cannot identify, file a dispute and have the item verified. It may not be your account at all. If the item cannot be verified, it cannot be reported. If you had extenuating circumstances that resulted in you falling behind on your financial obligations, each bureau allows you to put a consumer statement on your report telling your side of the story. Keep it factual and brief if you use this service.

Handling Those Dents and Dings
When you receive your copy of your credit reports back from each of the bureaus. Again, look it over carefully. Make sure any name, address, or employer changes you requested were made. Also, check your creditors to be certain the information you disputed was either verified and reported correctly, or removed. If you have existing collection accounts, now is the time to handle them. If your account has been turned over to a collection agency, deal directly with the agency. Many creditors sell their accounts to these agencies for cents on the dollar so you have a negotiating point. Contact the agency and offer to pay off the account at a settlement rate in exchange for deletion from your credit bureau. Some agencies will do this, some will not. If they won't agree to delete it from your credit report, ask if they can simply show it as an unrated paid item. Once again, some agencies will help you in this matter, others will not. It never hurts to ask. Whatever your agreement with the agency, I cannot stress enough to get it in writing before you pay.

If you have several collection accounts, try to pay off or negotiate settlements on the small ones first. It will give you a sense of accomplishment and you won't feel like you're fighting a huge monster that can't be tamed. Remember, your credit didn't get those dents and dings overnight and it will take a little time to repair, but it can be done. Make payment arrangements if you need to on the larger accounts and ask that your account be reported as "Collections but paying"; until the account is paid in full. When you have done all you can, send a copy of your changes to each of the credit bureaus. The creditors are supposed to update the bureaus, but sometimes it doesn't happen.

And, as with all things, if you do it yourself then you know it was done right!