Tips on Investment, household finance, credit cards, consumers, credit repair, taxation, and more.

Subject: ChexSystems. I manage a credit resource site that helps people overcome their problems with ChexSystems. If you've never heard of ChexSystems, here's a brief description: ChexSystems is consumer reporting agency that holds information on individuals with negative banking histories. Much like the credit bureaus, ChexSystems abides by the same rules that are set forth by the Fair Credit Reporting Act (FCRA). Today over 80% of all banks subscribe to ChexSystems' reporting services. This is bad news for the millions of consumers who are currently unable to open a new checking account due a mark on ChexSystems.

Fortunately, there is help! I've compiled some powerful information and resources to help these people escape the clutches of ChexSystems. The best part is, it's absolutely free. Please visit www.creditservicer.com for free ChexSystems help and bad credit resources. -- Steve Baik 12 Jan 2007

Subject: - Finance and Investing Tip: Invest, Don't Gamble. Foolproof advice from the great Will Rogers. "Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it." -- Submitted by Ken McIsaac at www.32keys.com Ken; mcinospam@nspintergate.ca 19 Jul 2003

Some advice submitted by Chris Robbins  I run a consumer credit web site that helps people with bad credit  locate products and services. I get many emails from people trying to clean  up their credit. The one thing I tell them is that there is no quick  way to fix bad credit. Do not fall for scams that claim to clean your  credit file in 30 days. This just will not happen. However, you can  dispute information in your credit file and the creditor is required by  law to verify the disputed information within 30 days. Information that  can't be verified must be removed. Follow these steps for legitimate  credit repair that you can do for yourself. 

1) Obtain your credit report from EACH of the three credit bureaus:  Experian, Equifax, and Transunion. It is cheapest to purchase your  reports online directly through the credit bureau's web site rather than  going through a reseller (who makes a profit). The websites are:  www.experian.com  www.equifax.com  www.transunion.com. 

2) Check for accuracy/errors. Make sure all of the accounts listed are  YOURS. Make sure all closed/paid accounts have been reported as such.

3) Dispute inaccurate information through EACH bureau. This is a very  important point. Since each credit bureau is independently owned and  operated, they do NOT share information. You must dispute inaccurate  information with EACH one separately. Just because you file a dispute  with Experian does not mean it will be corrected in the databases of the  other two credit bureaus. Disputed information that can't be verified  MUST be removed, by law, within 30 days. 

4) Finally, the best way to build and repair credit is to obtain  credit! Fortunately there are bad credit lenders who will grant small loans,  secured credit cards, and unsecured credit cards with low credit  limits. Proper use of the credit privilege provided by these lenders is  reported to the credit bureaus and your credit scores will improve over  time! Visit http://www.creditchampion.com  for a listing of bad credit  lenders.

5) Do NOT fall for credit repair scams! The only way to repair credit  is by following the steps above. You can do all of this for free  (excluding the cost of your credit report purchased from each of the three  bureaus). 

6) Finally, reduce your balances on existing credit cards to 75% or  less of your available credit (30% is preferable). This is one of the  most important points of all! High debt to credit ratios will have a  significantly negative impact on your credit rating.

Chris Robbins http://www.creditchampion.com  16 Sep 2002

Credit Cards

I think it’s a big thing to learn how to save money using different kinds of credit cards and in turn using THEM to make money for you. I put everything on credit cards that give me rebates. Although, some credit card companies charge annual fees in place of the rebates so you have to be careful. 

Great Credit cards to obtain if you pay them off each month are the Citgo Visa Preferred Card and the Freedom Card from Chase, it actually gives you 1% back, unlike Discover that waits a year and you’re lucky to get a FULL 1% back! The Freedom Card gives you 3% back on gas purchases and 1% back in rebates. Just remember to pay these higher interest rewards cards off each month, It will teach you to pay bills and earn money.

Also, I would like to mention the Marriott Rewards Card if you travel a lot. It has paid for my hotel more than a few times. If you open a bank account make sure they pay for other banks ATM’s, and/or give you rewards on your ATM Visa Debit Charges; If you get a credit card make sure it either has the low interest your looking for or the rewards that will help you. If you are not a strong willed person then I suggest just pay in cash. I always look for companies that can give me benefits in return to being their customer that is why there is a thing called competition.

If anyone would like to check out my website for Credit Cards and Loans it is www.banklady.com  and my email is webmaster@banklady.com 

Thanks, Tracy Thomas www.banklady.com  Credit and Loans Online  New West Media  Fax: 509.693.0160

Subject: Credit Card Repair: There are so many people in need of credit repair today. Part of the problem is with the amount of money that financial institutions will loan people. Financial institutions will keep loaning you money until you are only able to make your minimum payments. Once you are in this position the financial institute stands to make the most from you because you are making mostly interest payments. Normally people are able to make their payments in this situation but all it takes is a major car repair, home repair or some other necessary major expense to put you in a situation where you can no longer make your minimum payments.  

If you have yourself in a situation where you are in credit trouble and are looking for credit repair you can get your credit repair going by adopting some good spending habits and knowing the situations when you tend to over-spend. Really all it takes is some self-control and some planning. Most people that run into credit problems don't have a written budget outlining all of their costs. Once you take the time to review what you are actually spending you may easily see areas where you can cut back. Quite often it is frequent spending on smaller items that can make a big difference between living month to month and getting ahead financially. If you have a budget written out you will probably find that you will start to limit your spending because you will realize exactly where your financial situation is and it will make it easier for you to stay focussed and avoid those spending situations that get you into trouble. 

For credit repair the process starts with you and how you think about spending. Just because it's payday, you don't have to go out and spend it all in a week-end, this kind of spending will lead to financial ruin. Taking some time to get to know yourself and where your spending weaknesses are is crucial to your financial well-being. Take a deep breath and take some responsibility for the situation you are in and as soon as you take responsibility you will have the ability to be financially successful in the long term. -- Colin McDougall mcdoognsp2112@shaw.ca

Investing.

"It is OK sometimes to pull all of your money out of the equities market. Oh and please don't put my name on the Website" -- London stockbroker 

Mony a mickle maks a muckle. (small, insignificant contributions can over time add up to quite a lot) -- Old Scottish aphorism

Loans.

Do not just accept that the rate of interest gives a true picture of the cost of the loan.  Ask what the monthly repayments are, then phone around and see what other companies are offering.  The APR is not always the true cost of the loan.  Most payment protection schemes can add greatly to the cost of borrowing and are in most cases almost worthless -- levitatonspr@netscape.net 

Household Finance.

   1.Keeping a record of all of your transactions, although taking a short while to enter, can save a lot of headaches and time later. A list checked against your bank statement is sufficient for those who are not financially minded.    2.Budget by putting by one twelfth of your normal yearly household bills in a bank account each month. Do this with items such as household insurance's,  gas and electricity, water, community charges, car insurance's and tax etc. When a bill comes in you can pay it with your mind at ease that the cash is there to meet the bill. Regards, -- Ian Richards. e-mail: IRichards@ndsuk.com Jun 1999

Consumers

Be wary of signing anything that isn’t properly filled in. Also don’t accept oral promises, get everything in writing. - Timothy White, London

Consumers. Always read the small print on the front and back of any contracts before you   sign them. Ask for explanations for anything you don’t understand, and if there is anything you don’t like in the contract don’t sign it until the seller has changed the contract and initialled the changes. Keep all the relevant paperwork such as contracts, guarantees, warranties, or receipts. -- Anon.

Don’t Buy large items with cash. Credit cards can give free insurance, and additional rights. - Sebastian Henderson, Guilford.

Taxation

Income Tax Returns. Always remember to double-check your arithmetic. Remember to sign and date the return as well. - Anon

Subject: Quick Money Ideas: Reclaim deposits - You may have provided deposit money for services that is no longer needed. For instance, when you move to a new State, utility companies often require an upfront deposit. Once you a made a number of on time payments the deposit should be returned to you. Sometimes you need to ask for the money to be returned. It may not happen automatically. Some apartment rental agreements have provisions to return some of the deposit money if you renew the lease. Think for a moment of the possible deposits you have made that you may be due. This can be a great way to bring in some quick cash.

You may have made reclaimable deposits on your telephone service, cell phone service, electric service, apartment lease, and secured credit cards.

For more free money tips please visit www.DebtConsolidationConnection.com

Debt

In the UK, for an independent debt counsellor visit www.adviceguide.org.uk

Credit Rating

Patience and discipline are the only things that can improve your rating.  Ignore the organisations who claim that they can clean it up overnite. 

Subject: Financial Tips  I think your visitors might be interested in the following site: www.talkaboutmoney.com/kelly it provides very useful everyday advice including hints and tips for financial planning for everybody's budget. Have a look. Please send me your comments. Kelly Magill -- admin@talkaboutmoney.com  3 Jan 2004

US Credit Rating Organizations: www.experian.com www.equifax.com  www.transunion.com 
UK Credit Rating Organizations: : www.experian.com www.equifax.co.uk 

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