It’s hard to imagine anything good coming from anything associated with the word ‘foreclosure’, but some analysts believe that more foreclosures and falling home prices could actually benefit the economy.
It is highly counter-intuitive, but the general idea is that the domestic housing market, as with any market in a free-market enterprise system, needs to self-correct and achieve equilibrium. Years of cheap financing, easy-to-obtain home loans, lax lending standards, and tax credits helped to create a housing bubble that not only popped spectacularly, but seriously messed with supply – creating major distortions in prices well above what the market could bear.
When the foreclosure crisis hit, it helped to bring these stratospheric prices down to where the market said they should’ve been – only it went the opposite way and has dragged prices down far below pre-2006 levels.
The good news? According to these same analysts, this price correction was needed – and has to happen before the market can correct itself once again and restore prices to the norm.
A look at housing market figures over the past few months gives this theory some weight. Prices have f
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With The Academy Awards creeping up on us, we Good Score Guys have been taking cues from the celebrities. We’ve been getting red carpet ready—hitting the gym, making hair appointments and scheduling spray tans. By now, our trademark tights should be as famous as Armani, so we’re sure to be in style.
But we know that pampering expenses shouldn’t come at the expense of your credit. The credit scandals of some celebrities don’t inspire us. Take actor Wesley Snipes. It was reported that the actor allegedly owes the show-stopping amount of almost $30,000 on his credit cards.
If there were such a thing as an Oscar for credit bloopers, Billy Bad Score would win it. He may be a frequent frenemy of yours—influencing hasty purchases that negatively affect your credit. Keep hanging with him and you might be blacklisted from loan approvals, lower interest rates, and job opportunities. And last time we checked, hockey masks never show up on the best-dressed list.
Remember, though you may never become famous or win an actual gold statuette, but you can still shine as a credit score star this award season. After all,
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Verdict: The Redwood Platinum Visa card has many advantages to cardholders, particularly those with excellent credit. The card has two rate structures with a fixed rate as low as 8.99%. There is no fee for balance transfers and cash advances performed at a RCU location and there is no annual fee as well. Unfortunately, drawbacks to this card include a rewards program that costs an additional $35 annually and an APR as high as 20.99% for individuals with less than perfect credit. It’s best to pass on the rewards program as the cost is too high and unnecessary. This credit card is best for members with great credit who are looking for a free to carry credit card with no hidden fees.
Overview: Based in California, Redwood Credit Union offers membership to residents in many counties like San Francisco, Sonoma, and Napa. The credit union offers a single credit card to members that’s intended to meet many needs. The
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It may seem like you have to have credit to get credit, so are you left wondering where to start? Applying for big name credit cards are not your only road to establishing credit. From checking your credit report to building positive credit history, find out how to establish credit.
Step #1: Check Your Credit Report
Just because you do not have a credit card, does not mean you do not have a credit history. Check your credit report for financing like student loans and auto loans, which are reported to the three credit bureaus, helping you to build valuable credit history.
Paying your bills on time and managing your accounts responsibly not only helps you build a positive credit score, but will also help you establish credit and qualify other credit cards and loans.
Step #2: Start with Smaller Credit Cards
Before applying for traditional credit cards that may require a high credit score or longer credit history, try submitting an application for a smaller credit card like a gas credit card, retail store credit card, or a secured line of credit.
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Your credit is more valuable than you might think. Having good credit is important to getting approval for bank plastic, loans, and mortgages. For those who have bad credit, do not worry. This article has great advice on credit repair to ensure that you will not get hold of rejected from any financial institution.
Stay organized. Filing your credit card and other loan bills all together in the location that is easily accessible will go quite some distance in keeping you organized and able to stay on your bills. It’s easy to forget to cover a bill that you have carelessly tossed in a growing pile of unwanted send. Segregating your bills will help to prevent this.
When you inspect your credit file for errors, you will want to check for accounts that you have closed being listed since open, late payments which were actually on time, or any other myriad of things that could be wrong. If you find an error, write a letter to your credit bureau and include any proof that you have such as receipts or letters in the creditor.
Communication is key in repairing a damaged credit ratings. Read more…
— Thomas Potts @ 8:07 pm — 
February 28, 2012