eHow launches Android app: Get the best of eHow on the go.
During a down economy—strong credit is more important than ever. It only stands to reason that credit is weighing on people's minds these days—and this very subject—raises some very logical questions, including: How is a credit score determined? How to obtain a credit report? How to effectively manage debt? Although the questions may seem never ending—the answers are all right here within reach. Read on to make sense of this crazy thing called "credit"—whether yours is good, bad or non-existent.
Credit analysts determine the creditworthiness of either companies or individuals looking to borrow money. Most credit analysts work for commercial banks, but many others work for bond rating agencies like Standard and Poor's, Moody's and Fitch. These analysts research how well that potential borrowers will be able to pay back money... more »
A letter of credit is essentially a promissory note from your bank for an exporter. It is used to build trust in business relationships, especially with internal business transactions. For instance, a foreign buyer might apply for a letter of credit from a seller's bank (applicant) to send to the exporter's bank (beneficiary). The two... more »
Having bad credit or no credit history makes it practically impossible to obtain a home loan. Your credit score says a lot about you; and if you don't have one, some lenders will not approve your credit application. Fortunately, there are several ways to build a credit history. Once you've established a credit score, you'll be able to... more »
Having bad credit won't necessarily prevent you from getting a credit card, but it can make it—along with other, larger purchases in your life— much more difficult. Follow these steps to get a credit card despite your bad credit. more »
Establishing credit does not always have to be done by using credit cards. In fact, many people have never used credit cards. Today, a credit check is usually done for many transactions such as obtaining insurance and even when applying for employment. First time home buyers are often approved for a mortgage with this method of... more »
Is your credit broken? Bad credit can really put a damper on life, as it can prevent you from...
There is such a thing as too much credit. Balancing your credit can be more difficult than...
Credit cards are like parents, always there when you need them, but quick to say "I told you...
In today's day and age, having bad credit can ruin your life. The best strategy to combat bad...
In the midst of the current credit crisis, a young person's credit score is more essential than ever before---they are confronted with a series of... more »
Your relationship with your credit card provider may seem pretty cut-and-dried---but your credit cards may offer hidden benefits and secret perks... more »
Having strong credit is more important today than ever before---in this age of reduced credit limits, tighter credit card restrictions and anxious... more »
As the ongoing credit crunch forces lenders to tighten their wallets, your credit score has become more important than ever. In short, you... more »
Thanks to economic turmoil that's trickling down to credit card default rates---which continue to rise---credit card holders are forced to work... more »
A broken heart isn't the worst-case post-breakup scenario facing couples today. An overloaded budget and the potential of a shattered credit score... more »
Spending beyond one's means is no longer an unfortunate circumstance, but rather the en vogue trend. Home foreclosures are now a frequent part of... more »
Technological advancements like online banking and ATM deposits have made everyday life easier for consumers---but at the same time, it's simpler... more »
January 1 may be the magical date for kicking bad habits---but if adopting good financial ones is on your New Year to-do list---consider April 15... more »
All businesses need some amount of credit in order to keep their business financially stable. The amount of credit you need depends on your... more »
Credit is a method of purchasing items with someone else's money (the credit-card company's) on the expectation that you will repay that money... more »
A good credit score can help you pay less for cars, houses and most other major purchases. A bad credit score might mean catching the bus down... more »
A credit analyst examines the financial history of a person or a business. He or she uses your credit history, including any outstanding debts, to... more »
Credit cards can have a big impact on your credit score. The number of credit cards you hold, the spending limit on each card, and your payment... more »
Melissa Maroff was a writer/editor for the Dallas Times Herald's...more
Melissa Maroff was a writer/editor for the Dallas Times Herald's financial section: "Dallas Inc." In this position, she covered small business and commerce for assorted publications and websites including WHERE Magazine, Valley Scene Magazine and ReZoom.com. | hide
Auto Loans and Identity Protection on 12/9/2009
With the down economy, it stands to reason that delinquent car and truck payments are on the... more
With the down economy, it stands to reason that delinquent car and truck payments are on the rise in America. In fact, auto loans that are 60 days past due have increased by over 21 percent for this period. Considering that disposable income takes a hit first, financial experts expect that the delinquency rate will continue to increase through the end of the year. And if Americans aren’t paying their debts on time—it makes sense that banks and lenders won’t be so loose with the loans. But along with the negative, also comes some positive: The average auto loan has increased from 2008 to 2009, average monthly payments have decreased since last year—and the average loan period has decreased, which of course means less interest!
Some more bad news: identity theft and consumer fraud are on the rise, and again with some good news: Experian, the leading global information services company, has enhanced ProtectMyID.com, one of the most comprehensive consumer protection products out there. New key features include: Active Internet searches for potential fraud with debit, credit cards and Social Security numbers, notification alerts when a change of address is initiated and members now have the option of receiving alerts via email, text message or U.S. mail.
So in spite of the setbacks, it looks like there’s some hope on the horizon in the world of credit. You just have to look for the silver lining.
hide
Connect with people who share your interest by joining one of our Groups:
How to Drive a Manual Car(Stickshift)
How to finish wood with Danish Oil
How to Plant Fescue Grass Seed in Late Winter
How to Get Funding for a Business Idea
How to Say No to Easy Credit
How to Capitalize When Underemployed
Business-to-Business Guide
Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy. en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.
