Things you Probably Didn't Know About the Credit Cards

1. Things You Probably Didn’t Know About Credit Cards

2. Did You Know ? • You may have been using your credit card without making full use of its advantages? Here are 4 credit card facts you probably did not know, but should!Here are the common things, according to Kramer, most people tend to get wrong about their scores. • Credit reports aren’t credit scores • There are alternatives to FICO • You don’t need debt to build credit • Medical debt isn’t treated differently

3. Experian, TransUnion, and Equifax generate credit reports. A credit report is your financial history. It’s silent on whether you are eligible for a mortgage, credit card or an auto loan. That’s the job of other companies such as FICO and VantageScore. They analyze your credit report to assign you the three-digit number. Credit Reports aren’t Credit Scores

4. VantageScore is probably the most well-known. Even inside FICO, there are more 50 different models in use. There are more than a thousand different score models that companies use. Some basic models include ones used auto loans, home loans, credit cards and insurance. It’s possible to have a great score for credit cards and a poor score for a home mortgage! There are Alternatives to FICO

5. Many people get new credit cards and then make only minimum payments with the assumption that it’s good for their score. Paying your credit cards in full each month is the avenue for high scores. You don’t need debt to build credit

6. No one knows where this idea comes from but nearly everything thinks that credit bureaus treat medical payments differently. Kramer insists it isn’t true. In fact, medical bills, like any other expenses, will lower your credit scores. Medical Debt is Not Treated Differently

7. Start Rebuilding your Credit Scores NOW!

8. Contact Us RL Kramer LLC 424 Baker Ave, Unit 1664 Whitefish, MT 59937 Phone: 406-730-7989 Fax: 866-352-2595 Email: information@rlkramer.com Website: http://rlkramer.com