Search Results for: blog understanding your credit score

Can Refinancing Your Mortgage Get You Out of Debt?

Mortgage refinancing may be an option to help you get out of debt. You have to approach this choice carefully, though, to make sure that it is the right solution to fit your current needs. Refinancing is simply the practice of replacing your current mortgage with a new one. Most people refinance their mortgage in order to get a lower rate on their interest and lower monthly payments. Cash-out refinancing is a mortgage that allows you to borrow more than you owe in order to have extra money to pay down credit card or other bills or to improve your … Continue reading →

What makes up a Credit Score?

Ever wonder all the basics of what is used for your credit score? Well, here it is, in black and white… and a little grey. To create a credit score, some of the information on your credit report is fed into a mathematical formula. The critical information and their importance are as follows: Account Types – This includes mortgages, car loans, and credit cards. The importance of your types of accounts is about 10% of the overall score. Number of Recent New Accounts – Just how many new accounts do you have in proportion to the total? This is another … Continue reading →

Credit Cards: The Best Ones for Debt Transfer

So, you’ve read Miriam’s blog about getting a handle on your credit cards, you’ve asked for a lower rate from the companies you still hold cards with, and now you’re ready for the next step – transferring the debt you do have to zero interest or low interest credit cards. Be forewarned – if you do this and don’t change your spending habits, it’s just a step toward more debt. This is a step in debt reduction, not in increasing your available credit, though it will likely have that effect as well. Unless you’re worried that you won’t be able … Continue reading →

Insurance Blog Week In Review January 9-15, 2007

It’s been a busy week for so many people in the United States. The weather has been a huge problem with snow, ice and unusually cold temperatures. Get ready to pay a lot more for Oranges and Avocado’s after the deep freeze in Southern California. Many homeowners have suffered the Midnight Disaster, including my little brother. Caught completely off guard with freezing temperatures and a ruptured pipe in the attic. Thankfully, he was able to Ask Anna (or sissy) for help in this matter! When my brother woke up to find boxes falling out of his attic and water flooding … Continue reading →

How Important Is My Credit Score?

Our society has become overly concerned with credit scores. If you have a bad credit score then you do need to be concerned. If you have no credit score, then you really do not need to worry. You may consider getting a credit card to help to build your credit score, but I would only recommend that if you were sure to never carry a balance on the card. Credit scores are used to determine the interest rate that most companies are willing to offer you for a loan. The time that people worry most about their credit score is … Continue reading →

Planning a Family Vacation? Steps to take before Renting A Car

Spring break is here and summer is just around the corner! Many families will head out the door for a well planned vacation which may include Renting a Car. Many vacationers may not even think about the insurance for a car rental until they’re at the rental counter, and this can lead to an expensive mistake. Insurance needs should never be a quick decision and one of the most common places consumers make poor choices are at the end of a long line at the rental car counter. Many consumers panic when asked, “Would you like to buy or decline … Continue reading →

AM Best The Insurance Information Source.

With most major purchases, consumers consider the reputation of the company they choose to do business. Buyer beware is one thing but, understanding the financial stability of your insurance company may be a completely different story. The average consumer wouldn’t have the first clue about what to look for, or why it matters when investigating the stability of an insurance company. Insurance agents are aware of the largest and longest-established company in business to provide in-depth reports and financial-strength ratings about insurance companies and organizations. The publication and database, “Best’s Insurance Reports,” publishes the largest coverage of insurers and reinsurers … Continue reading →