Posts Tagged ‘Banks’

Free Credit Score – Check Your Credit Report Score at Ease

January 29th, 2011 admin
Amelia Stacy Jones asked:




Credit score is extremely important for individuals especially when you deal in financial products. According to current economic situation, many banks do not feel comfortable to give consumers the benefit of the doubt while providing credit. Recently, many companies have started to require cash down payment for bad credit holders. Most of the people know that credit status plays important role while purchasing loan, credit card, car, or home. But they are now aware that this score can affect eligibility of employment too. It is impossible for people to spend huge money just to check out the score every year. Government of United Kingdom made a policy where every individual got a right to get free credit score once in a year.

According to experts, it is necessary for people to keep a close eye on credit score. Your credit history always reflects the true picture of past financial mistakes. If you do not want to waste time and money while visiting credit bureaus, you can get the online credit score from home. Online score is topic of disagreement for few people because they raise the questions against the accuracy of online result. But according to the credit bureaus, online result provides the true picture and online score is accurate up to 99%.

There are three reputed credit bureaus in UK; it means people can get free credit score 3 times in a year. Much to your fortune, many credit reports contain the error in it. There could be many reasons behind the different errors. Most common reason is stolen identity. It is always advisable to contact credit bureaus immediately, if you find any error in your credit report. It always takes 2-3 months to add the positive results in your report.

Allison
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No Credit Check Required For Prepaid Debit Cards

October 26th, 2010 admin
P. Zulueta asked:




If you have a less-than-perfect credit history, nothing can be more nerve-wracking than going through a credit check in the hopes of getting approved for a debit card. Although debit cards are usually offered for free along with your checking account, there is still a ChexSystems check required in order to get approved – and if you don’t pass this check, you won’t get your debit card! So what’s a person to do in order to get the debit card without having to go through the process of yet another credit check?

Here’s your answer: Look for debit cards that don’t require any credit checks whatsoever!

Is there such a card? Yes, there are banks out there that don’t require a credit check in order to get you that plastic. For example, some banks will only require an ID check in order to approve you for a debit card. Simply provide your social security number and physical street address and watch how fast that debit card ends up in your hands!

Additionally, if you’re a student with no credit history whatsoever, you can still get a debit card without going through a credit check. Many banks offer bank accounts, debit cards and other services that cater specifically to the student population – and all you’ll need is to fill out a simple application! However, with these accounts, it’s important to read the fine print, as you may be slapped with higher-than-normal fees due to your student status.

If you’re unable to find a local branch that offers a debit card without a credit check, then perhaps a prepaid debit card is your best bet. These convenient cards are easy to obtain and require no credit history or employment verification whatsoever – and more importantly, they’re more secure than ordinary debit or credit cards when it comes to online shopping. Best of all, you can link your checking account to the card so that you can reload the balance with no hassle!

However, if you’ve been denied a checking account due to your credit history, it can be next-to-impossible to obtain a debit card. If this scenario sounds all too familiar to you, then don’t despair: you can still get a bank account without having to submit your credit for approval.

Your credit situation should not hold you back from the convenience of having a debit card for your financial use. Definitely, consider a prepaid debit card for your online purchases, shopping, and travel needs.

Victoria
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When a bank does a credit check, can they find out the balances in your checking accounts?

August 18th, 2010 admin
raaj22 asked:


I know that on a Equifax credit report you dont see your saving/checking accounts. However, when you fill out your information about assets and liabilities when asking a loan, they ask for how much money in your checking accounts for example from other banks if you have. Can they find out that information?

Edgar
Posted in Credit Tags: , , , , , , , 1 Comment »

Credit Check For Rental Properties – The Importance of Them and Why They Are Crucial to Your Success

June 15th, 2010 admin
Carlton Johnson asked:




Whether you are just thinking about becoming a landlord or are already an active landlord, it is essential that you take any credit check for rental properties seriously.

This article deals with the two types of credit checks you should be concerned with.
A credit check on your potential tenants Your own credit check
A Credit Check on Your Potential Tenants

If a letting or managing agent is managing the property for you they will normally take on the responsibility of getting the tenant credit checked; however, make sure that you double check their procedure for doing this and that it is thorough enough.

If you choose to manage the property yourself then there are some reputable companies that will take on this tedious job for you. Websites such as: tenantverify.co.uk/ will credit check your tenants for a fee.

Your Own Credit Check

If you want to be a property investor or developer for a living, then you will need to keep you own credit rating in tip top condition.

Becoming a landlord normally requires you to take on huge amounts of debt in the form of mortgages on your properties. Even though the debt is normally secured on the property itself the banks will still normally want to see that you have a good credit history behind you.

If you have been refused credit in the past or think you might have credit problems then it might be a good idea to check your credit file before you proceed with looking for investment property.

Credit reference agencies like Experian or Equifax will provide you with your credit file for a small fee. They can also help you to amend any mistakes on your credit file or give you advice for improving your credit rating.

There are also many companies that claim they can improve your credit file for a fee. Normally this fee is at least a few hundred pounds. Do not waste your time and money with these companies, they can do nothing for you that contacting the credit reference agencies Like Experian directly cannot do. They will just be a middle person getting in the way. It would be far better and more effective and it could save you hundreds of pounds to go to the credit reference agencies directly.

Leonard
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Credit Card Balance Transfer

April 26th, 2010 admin
Suzie Potter asked:




Credit Card balance transfer would only mean transferring out credit purchases from one card that has a higher interest rate to another card that has a lower interest rate. This measure is being implemented to avoid too much allocation on your interest charges when in fact it can be a good addition to your savings instead.

But before even thinking about it, you have to check your payment habits first hand. You should also be aware on the fact that some banks do have transfer fees and others don’t. If you involve two banks through it which aren’t affiliated with each other then you will most likely be charged for the transfer. And you might want to run through every action you intend to do because the whole point of the matter is to save on costs. Such manner would help you determine whether balance transfer is going to help you save more money; not just from your interest rates but from all other fees and charges as well.

The whole process of balance transfer is easy. It is a computer-generated measure where the process could take only a few minutes. You just have to provide the account number to where you’re going to transfer balance. Of course, the amount of money you’re going to transfer is also required. You have to make sure that the credit limit of the other card is enough to accommodate the transfer. Moreover, you must also check if there are unsettled credit purchases from that card.

The only catch from doing a transfer is that you will have to pay all your bills in one due statement. Unlike if you have several cards with different statements; you will be able to pay lower amounts in different dates. You also have to consider the thought on whether you’ll be able to pay the accumulation of credit bills under one card or not.

There are basically two types of balance transfers; the 0% balance transfer and the Life of Balance. 0% balance transfer provides no interest on every balance transfer you make on a specific period of time provided by the credit company. You just have to make sure to clear all your all your balance on that period given by the company to fully enjoy the benefit. Or else, the remaining balance will be charged with the interest depending on your bank or company’s terms and conditions.

On the other hand, life of balance is when you transfer balance with fees or charges. However, the rate will definitely be lower as long as you pay the minimum requirement to be paid each month.

Esther
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Are No Credit Check Loans Good For People With Bad Credit?

February 28th, 2010 admin
James Copper asked:


No credit check loans are something to be avoided if your credit is good. The loan without credit check process is quick and easy and designed to help (well, not really) those who have bad credit and need to borrow.

Generally, however, they are exorbitantly costly and could lose you the title to your vehicle or possession of other property you put up as collateral. Quite often, no credit check loans are a payday type loan, which means you get the money by writing the lender a post dated check for the date of your next pay period, at which point they cash the check.

That seems easy and fair enough, doesnt it? The catch, of course, is that you pay back that lender much more than you get by taking out a loan without credit check.

Of course, there are situations that are unpredictable and many of us can find ourselves in a financial pinch that, for credit reasons, leaves us without any other option than a loan without a credit check.

Loans without a credit check are a rather novel and comparatively new industry, and some of them such as payday loans and title loans prey on the low income and the unfortunate.

There are legitimate lenders, however, that do offer no credit check loans. Banks and other financial institutions do so. What is important is that you comparison shop and read all the fine print. Ask for as many free quotes as you can.

Most of these are going to be available online, although some will say they can give you an online quote and what they are doing is getting your personal contact information so a financial sales rep can call and hound you into using their loan without credit check services.

If you want the information and this happens you might consider submitting an alternative phone number. The result will be that you will get an email saying they were unable to reach you by phone, at which time you can tell them to send the quote by email. Some will, but some will not. If they will not then they were probably one of the higher-end of the lenders. Cross them off your list.

Comparison shopping is not just about who offers the lowest rate, however. Make sure you know all their policies such as prepayment penalties and terms of repayment.

A much lower rate paid back for an additional three years could end up costing considerably more than its shorter term loan without credit check counterpart who offered a higher rate of interest. Make sure you do the math.

One term you will want to fully understand when comparing the various no credit check loans. The term is APR, annual percentage rate. This refers to the total cost of your loan for a year, and it is expressed as a percentage of the amount of the loan.

It is made up of the total of the interest you will be paying over the course of the loan and the other loan without credit check fees such as discount points.



JONAS
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