To work this plan you need at least $400 to begin. You should borrow this from your friends if necessary. Then go to a bank of your choice and deposit the $400 into a regular passbook savings account.
Wait a few days for the account to be posted and return to the bank to ask for a $400 loan - you offer the passbook as collateral. Since the bank is already holding your $400, you go to another bank open a savings account lending you another $400 and they won't even make a credit check. Then, with your borrowed $400, you go to another bank, open a savings account, return a few days later, borrow $400 from that bank using your passbook as collateral.
Then repeat the process at a third bank with your borrowed $400. Wait a few days to go to a fourth bank where you open this time a CHECKING account. Wait a few days and make a payment on each of the other three loans. A week later, make payments again on the three loans, and continue paying each week until you have almost paid off the balance.
A credit investigation at this point will show you with three active bank loans (which are considered hard to get), a checking account, and a paying history for the three bank loans - with you having paid up in advance. Thus, you have AAA credit in as little as 30 days. From here you go on to apply for loans, credit cards, and other items on credit.
Most real estate salespeople will tell you without hesitation that no-one can purchase real estate without a down-payment or credit check.
You got creditors calling you everyday. You could lose the car or house. Your teetering on the edge financial ruin - then you see an ad that may safe your butt!
There's an old saying "a bank won't lend you money if you really need it," and it's really almost completely true. Banks prefer to lend money or extend credit to people who already have lots of money, and carry the top credit cards.
Creditors approve credit to those people who most closely match the right profile. They arrive at those conclusions by assigning point values to various items of information that are included either on your credit application or in a credit report.
The American economy is based on credit. If you don't have at least an average credit rating, you will find that getting approved for any type of loan, or credit card, will be very difficult - if not impossible.
If you have any charge accounts now, or have ever borrowed from the bank to buy a car, or if you are paying on a mortgage, there is credit information on you.
It is the purpose of this report to teach you how to obtain a copy of your Consumer credit report and to remove such things as judgments, late payments, liens, or anything that is untrue or unfair from such reports, thereby improving your consumer...
A few years ago an industry emerged that served the needs of individuals who have had past credit problems, but can now afford monthly car payments. These companies helped people with past credit problems such as:
Pre-approved cards are the result of one bank who now has you as a customer, and sells your name to another bank or a series of banks so they can offer you their credit cards. Here's how it usually works:
Some banks are eliminating the standard 25 or 30-day grace period within which you may pay your bill within being charged interest. This is the normal grace period before interest kicks in. But this is slowly changing.