People ask all the time how to get their credit report for free, because they always have to give out their credit card to get a report. A credit card is not used to verify your identity, blah blah blah, it is used to lock you in after the trial membership you are signing up for. Companies like Freecreditreport.com, Transunion.com etc offer you packages like free 3 credit bureau plus score for free, for the first month.

Currently there is no place to get your free credit report + score, but if you want your free credit reports, you are entitled to them at http://www.annualcreditreport.com. You are only allowed 1 free one per year from each credit bureau, so if you need another one, a denial letter will still get you one.

The reason credit scores vary from credit reports, and creditors, is because there is a fakko score, a vantage score (used by Experian) and the the most accurate Fico Score. You can get the same credit scoring method that creditors use when they pull your credit for mortgages, auto loans, and credit cards. This credit score variation only deals with a credit score from the CRA and the third party.

The reason that credit scores vary between credit reporting agencies, is because they have their own algorithms on how to score credit reports, another reason for variations, is differences in reporting. One agency might have a delinquent account on it, while the others do not, or some locations pull from the same CRA, so you may have many more inquiries from one credit reporting agency, which would lower your score.

Myfico.com offers a credit score watch to keep track of your score and any major changes, that might affect your ability to get a loan, or factors that would change your interest rate.

You may have also heard of Suze Orman’s Fico Score Package to give you the tools to protect your identity, your important data, and your credit score.

Most online companies accept any card that has the Visa logo or Mastercard logo on the card, which means that prepaid cards, and debit cards (for the most part) will work anywhere Visa or Mastercard is accepted. To view some prepaid visa and mastercards visit the link.

The benefits of prepaid credit cards are as follows, but remember, not all cards offer the same benefits, make sure to read all the details. Usually no credit checks, some report to the credit bureaus, you can direct deposit your checks, into your account, plus the ability to shop online, and use your card in situations where you usually need one, like renting a car, or placing a deposit on an item.

I see this question a lot, and the answer to it is yes and no. Freecreditreport.com along with all the other identity monitoring companies offer you a free initial credit report (and sometimes score) for a trial period, usually for around 30 days. After those 30 days your are automatically rebilled a recurring fee of around $12.99 a month for their services.

Similar identity monitoring services include Experian, Trans Union and major banks. Most major banks are 3rd party providors for the 3 major credit bureaus

You may want to compare all 3 credit reports and make sure that each credit report has the services or pricing that you need. Perhaps you only need your credit score, or you insist on having all 3 credit reports in one. Whichever the case may be, doing the research first can save you money down the road.

If you are looking for your truly free credit report, which does not include your score. You are allowed one free credit report per year which you can request from http://www.annualcreditreport.com

With the current credit crunch, business owners trying to get capital, or loans for their businesses are finding it increasingly difficult to finance their short-term loans.? Rather than putting your company in jeopardy, and trying to run your business without any working capital, or credit, consider a short-term loan by applying for a credit card.? Although small business lending has dropped dramatically, over the last few weeks, the consumer credit card market, and the business credit cards are still taking? and approving applications.? So if your small or medium-sized business is in dire need of emergency cash, or overnight loans, consider? applying for a? personal credit card offer, or applying for a business credit card.

Shop for lower rates

In order to make your credit card payments count as much as possible and to get out of debt sooner, you can try to get lower interest rates. Sometimes card companies will offer a promotional balance transfer that is 1.99% for a six month period of time. Duration of the promotion and interest rates can vary greatly.

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Don?t assume that every offer from the same credit card company is the same deal. The card companies will mail you an offer with different rates on the same advertisement. Some at full interest rates, mixed in with the lower rates. If you decide to use the checks that they mail you, you might use the wrong one and get the higher interest rates. If you call in for a promotional offer make sure you take notes of the day you called the rate, duration of the promotion, and who you helped you on the phone. It is extremely important to read the fine print and ask questions about the balance transfer fees and time limits.

If you have a card with a balance already on it, don?t use it. Get a card without a balance because if you don?t you will be still be paying a higher interest rate. The payments go to the low interest transfer first and the balance that existed already sits there adding up interest every month. Call the credit card company to check your balance on the card so that there are no charges on it at the time you do the transfer.

There are also offers for the life of the balance transfer that will lock you into a fixed interest rate for the duration of the balance. The interest rates will be higher, for instance the short term offer will be 1.99% and the fixed rate for the lifetime offer will be 3.99%. You have to weigh out the benefits and the downfalls of both types of offers. The short term offer can be good if you are diligent and confident that the rates will be low in the future and you are prepared to do another balance transfer or pay of the whole amount in a short period of time. Usually the short term promotions have a higher amount for the initial transfer fee. When shopping around for a good balance transfer check to see what the minimum and maximum balance transfer fee will be. The average is around $50 maximum; however some credit card companies will go up to $150 or more, seldom is there no fee on these short term promotions. The long term fixed rate until the balance is paid off will more often have no balance transfer fee at all. This can make up for the higher interest that you pay over the short term.

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If you have limited credit resources left you should try to get a fixed rate promotional so that you can lock in a low interest rate for the duration. It should be your goal to get the debt paid off as soon as you possibly can. The lower the rate in the long run the sooner you can pay off your debt.

Sometimes credit card companies offer the low interest promotional and when you get your first billing statement you may be in for a surprise that the interest rate is not correct. It is extremely important to verify that you got the correct interest rate on the statements. If it is not correct call the company to get it corrected as soon as possible. Always check your interest rates on every credit card statement. If at any time a card rate goes up you will be aware of the problem, and hopefully it will prompt you to shop around for a better rate or contact the card company to lower the rate if possible. Never pay your bill late on a balance transfer because you will lose your low interest rate and default back to very high rate of 19.99% (this interest rate varies too).

Having a good credit score can help lower your interest rates. It is important that you always pay your bills on time; this will help improve your credit score. Paying more than the minimum balance is also another good way to improve your credit score. If you have had bad interest rates in the past because of late payments, you can lower your rates by improving your credit score.

The goal is to pay off the higher interest cards first and pay the minimums on the lower interest cards. After time hopefully, the debt will decrease and you will be on your way to erasing the credit card debt.

Consumer Action and American Express partner new free, multilingual education initiative
Dec. 12, 2005 – Here’s one thing you can check off your holiday list-getting to know the terms on your credit card.

Credit cards get a lot of use during the holiday season-but how well do you know your card? Consumer Action and American Express have partnered to create a free, multilingual consumer education series called Credit Cards: What You Need to Know.

“We created our campaign to educate consumers about credit card terms and conditions so that they will learn how to compare credit card offers, read and understand credit card terms and conditions, maintain their credit card accounts in good standing and avoid penalties and fees,” said Ken McEldowney, executive director of Consumer Action.

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The holiday season is a busy time-credit card due dates and credit limits are not at the top of our minds. But the way you handle your credit card is important. Not managing your credit wisely can lead to:

• Increased annual percentage rates (APRs)
• Unnecessary fees * A decline in your credit score
• Denials of future credit

“Credit Cards: What You Need to Know” is designed to help consumers:

• Understand the types of cards available
• Sort through card offers
• Compare card terms and conditions
• Avoid penalty rates and fees
• Find more information and assistance

The “Credit Cards: What You Need to Know” series is available on Consumer Action’s web site (www.consumer-action.org). It includes a brochure available in Chinese, English, Korean, Spanish and Vietnamese; a question-and-answer backgrounder guide; a training guide for presenting the materials in a classroom setting and a 65-slide PowerPoint set.