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Step Three, Part II: Take stock of your credit cards and loans

Your next step is to identify the cards/loans that are charging you the highest APR, and ask yourself the following questions: 1. Can I call them and ask if they can lower my APR? Doing this isn't an unusual thing to do, and most people having financial trouble don't think to do it. All it takes is calling the customer service number on the back of the credit card or on the bill, and being friendly and polite to the customer service person answering the phone when asking if they have any deals for lowering your APR.  The credit card company wants to keep your business, and they want to you keep paying money towards your balance, so quite often...

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Step Three, Part I: Take stock of your credit cards and loans

In my previous posts, I talked about how to learn your current credit status, and how to fix errors in your credit information. Now comes a bit of a long winded but important step in reducing your debt. Take your time in reading it. Bookmark it and come back as many times as you need to. I'll still be here. Hopefully, you already have a thorough awareness of your credit cards and loans, and how much you owe on each of them. If not, now is the time to make a list of them all for your own use. Keep this information on a private computer. It may sound like a lot of work at first, but don't let this...

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Step Two: Review and Fix Credit Report Errors

Options to consider when ordering a credit report I mentioned in my last article that you can get a free credit report from the three credit agencies, Experian, Equifax, and TransUnion. There are many websites offering this, but they are frequently not free in the end. annualcreditreport.com is a centralized service for consumers to request free annual credit reports. It was created by the three nationwide consumer credit reporting companies themselves. More information about the service and about credit reports can be found on the website, and on the website of the three credit agencies which I list below. You are allowed to order one free credit report every 12 months from each of the three credit agencies. Depending on...

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Step One: How To Get Your FICO Credit Score And Credit Report

To many, a credit score is a mysterious and frightening thing. Even to those familiar with them, they can be frustrating. But with simple effort over time, one can bring one's credit score up even from the pits. To make it simpler, I'll outline it step by step in individual articles. Here is the first one: There are many reporting companies who are willing to take your money in order to deliver you your credit information. But before you do that, you can (and should) get your free credit report directly from each of the three main agencies, Experian, Equifax, and TransUnion. These reports are very useful, but they don't include your numerical (FICO) credit score.   What is a FICO...

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How to Improve Your Credit Score

Improving your credit score can be an intimidating task. Even to those familiar with what a credit score actually is, it's a large undertaking. Anyone saying you can instantly improve your credit score is trying to sell you something Improving your credit score will take time, but it will actually work and will take little to no extra money beyond your normal bills. With simple and constant effort over time, you can bring your credit score up from even the worst doldrums. But in order to improve your credit score, you have to start now! To make it easier, I'll outline it step by step. You’ll be following the same path that I did when I figured out how to improve...

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