The Credit Pro

By Barbara K

The most important part of qualifying for a mortgage isn’t how much of a down payment you can make, it’s how good your credit score is. The better your credit, the more easily you can secure a mortgage loan, even without a fat bank account or a high-paying job. The first and most important action you should take is to get your credit report from each of the three major credit bureaus, Experian, Equifax, and TransUnion. You have to get all three reports because the companies and utilities that extend you credit don’t report to all three bureaus. The result is that each consumer has three credit reports with three different sets of information. You can access the reports for free at least once a year. If you find errors and report them (see below for details), you can get a revised report for free.

By Jakob Jelling

Credit card balance transfer is an important feature for many credit card users. It allows them to transfer their debts from one credit card to another. This is significant if their new card has a lower interest rate than their previous one.

Credit card balance transfer feature can be a great way of consolidating your credit card debt and finding a way to dig yourself out of your debt burden. This option is in high demand and many credit card issuers include their balance transfer services upfront in promotion material. A good credit card balance transfer option can help them gain customers from rival credit card companies.

By Nick Davis 

With the price of gas seemingly going up by the day, motoring is becoming an expensive pastime. What you may not know, however, is that you can cut the cost of gas with the help of a credit card. Any old card won’t do, though. What you need is a gas rebate credit card.

As the name suggests, these cards repay a portion of your total spending on gas. The proportion is typically 4 or 5 per cent, though some cards offer higher percentages (up to 10 per cent) during the introductory period. The money will normally be credited to your account by the end of the month concerned, though you may have to wait until you have accrued a certain amount - say $20 - before you can redeem it.

By Todd Green, The Credit Pro

Some members of the Motley Fool community discuss making big bucks from using credit cards. This intriguing follow up from a previous article reports specifics on how “fellow fools” have actually cashed in from using cash back and reward cards.

From Yahoo! News: Make Big Bucks From Credit Cards

(This article is continued at Yahoo! News…)

by Todd Green, The Credit Pro

Credit.com has started a new section on their website called “Credit 101.”  This series provides an excellent introduction to the basics of the credit system.  The first article, The Building Blocks of Credit, covers the fundamentals of credit. This article’s objective is to help the reader better understand and leverage their credit history.

From Credit.com: Credit 101: The Building Blocks of Credit

If you’ve ever applied for a job, rented an apartment, bought or leased a car, opened a bank account, applied for a mortgage or been issued a credit card, you’ve participated in the world of credit. At Credit.com, we believe credit can be a positive force in every aspect of your life. To put this power to work for you, however, it’s essential that you understand your own credit — and what your credit information says about you to the growing number of companies that use credit information to make life impacting decisions about you. These companies include lenders, insurance companies, employers and utility companies.

(This article is continued at Credit 101…)

By Todd Green, The Credit Pro

Steve Bucci, aka The Debt Adviser, writes an advise column for Bankrate.com.  In a recent edition of his column, Mr Bucci provides sound advise to those people marrying someone with bad credit.

From Bankrate.com: When good credit marries bad

Dear Debt Adviser,
I recently got married. I knew that my husband’s credit score was really bad. What I don’t understand is why my credit score has now dropped and all my credit cards are lowering my limits? I haven’t done anything except get married. How do I fix this?
– Michelle

(This article is continued at Bankrate.com…)