Good Article FROM KBU Loans About Credit Score Recovery Tips

As most consumers are aware in 2015, having good credit means everything when it comes to your personal finances. The editors from KBUTexas.com send us some great tips about how your credit report can quickly spiral in the wrong direction. The credit reporting system is not perfect. You could even say that it has many faults…but being unforgiving is not generally considered to be one of them. Under Fair Credit Report Act (FCRA) laws, every negative record has a set expiration date. In today’s reader Q&A, we received a question from a woman named Mary about rebuilding her credit:
What can do to make my credit good? Do you think the credit reporting bureaus will be forgiving?

It’s an interestingly phrased question, isn’t it? Equifax, Experian and TransUnion have probably earned their reputation as “credit gods” due to their relative power over people’s financial lives. Credit impacts your loan rates, credit card rates, home insurance, auto insurance, utility rates, employment, apartment deposits and cell phone rates. Combining this power with a long track record of secrecy (now finally lifting) is a recipe for Zeus-like status.

Luckily the credit bureaus are very forgiving deities. Under national FCRA law, every negative record on your credit report has a set expiration date. This includes bankruptcy, late payment, foreclosure, lien, judgment and collection records. All it takes for a clean slate is 7-10 years of patience. You can read a full list of when negative records expire from your credit reports here.

However, most of us aren’t willing to wait that long to see some improvement. Instead of waiting you can start improving your credit now by opening a few new accounts, using them responsibly each month and paying the bills on time. It’s amazing how this simple process can cause dramatic improvement in credit scores. If you have trouble opening standard accounts, try applying for a secured credit card or card that accepts borrowers with poor credit first

Which Banks Are Offering Summer Finance Promotions in 2014 for Home Improvement?

Home improvement loans are intended to finance renovations or repairs for a house or property. The loans can be used to make some changes that can help you increase the value of a home. This may include renovations such as repairs, adding a new bathroom, remodeling the kitchen, and extending the home. The landscapes and swimming pools might also be considered home improvement activities that could still be financed.

The month of May is considered the perfect month for beginning your home improvement projects thought such activities can continue the summer period. If your home has fallen by the wayside, it is important to think of renovating it. Since in summer the temperatures are heating up and the weather is nice, it is easier to spend the available home improvement financial options for your next renovation.

According to Mark Clement, a professional contractor, upgrading a home increases its curb appeal, which in turn increases the value of the property thus creating a positive impact on visitors. In a 2014 study, Cost vs. Value by Remodeling Magazine, it showed that home improvement projects that involve curb appeal could have very strong returns on investment for various homeowners.

Moreover, Zillow hinted that good curb appeal on a property can help in making a sale go smoother. With home improvement loans, they could pay for simple renovation projects or even more complex remodeling. The financing for home improvements could be tax deductible, and the monthly payments are usually lower than the personal loans and credit cards since the costs are spread over an entire length for the loan.

Whether you are considering creating more living space while at the same time remaining familiar with the neighborhood, you can seek for home improvement loans. Besides, homeowners who would like to create separate living areas for another additional family member or personalize their home in order to find their lifestyles by finishing basements or adding attic bedroom, they can make use of the home improvement loans.

People who would want to buy foreclosure and short sale homes and improve their conditions can also utilize these financial resources. While finding the right loan to finance your home improvements may be a challenge, there are banks that can help you get those loans.

If you are planning for home improvements this summer, you might want to explore options such as Citi Diamond Preferred Card, issues by City Bank, which offers 0 percent introductory annual percentage rates on, balance transfers. This can pay off for your home renovation if you purchase the materials and supplies in the selected stores. We found a list of top summer 2014 promotional credit cards,

Citi Dividend Platinum Select Card also issued by Citi Bank can help in home furnishes and gardening with $100 cash back after you spend $500 in purchases in the first 3 months following opening of account. The Discover Bank issues the Discover it card, which is ideal for home improvements, attracting $1,500 in bonus spending.

Discover it has a generous 5 percent cashback when you make purchases at home improvement stores. The Chase Freedom card by Chase Bank is another ideal promotional card that can help in home improvements, with its Lowe’s home improvement store deals within its quarterly rotating category of retailers and merchants.