Simple explanation: How is my credit score calculated?

These are some guidelines and percentages that are considered by the Credit Bureaus to calculate your scores.

Realize there is a possible 850 points.  National Average is around a 678.  3 credit bureaus report your credit and all usually differ slightly.  

This number is broken into 5 categories:

1.  History of paying back debts on time.  (Accounts for approx. 35% of the score – 297.5 pts.) 

1. Primary trade line accounts including credit cards, retail store accounts, installment loans, finance company accounts, mortgage loans, etc.;

2. Whether your late payments are 30, 60 or 90 days overdue.

3. The amount owed during delinquency time and if account still has an outstanding balance;

4. Collection items and public records, including judgments, bankruptcies, suits, liens and wage attachments. This can highly affect your rating even though older items will affect the score less than the most recent ones;

5. Number of negative items compared to total amount of available credit. For example, 5 accounts with 3 late payments are worse than 10 accounts with 4 late payments. Accounts with no late payments will increase your rating substantially.

2.  Amounts owed (Accounts for approx. 30% of the score – 255 pts.)

If you have a $10,000 limit on your card.  Once you go over 30% or $3,333 for your balance – it will begin to negatively effect your score.  Keep balances below 30%.  Keep long standing accounts open. Closing accounts does not help and may actually negatively effect you.

3.  Length of Credit History (Accounts for approx. 15% of the score – 127.5 pts.)

The longer the credit history, the better your credit score is.

4.  New Credit (Accounts for approx. 10% of score – 85 pts.)

Applying for too much new credit can inadvertently drop your credit score. How many new establishing accounts you have, how long since you last opened an account and how many recent credit inquiries made by credit reporting agencies are all evaluated and considered.

5.  Types of Credit in use (Accounts fro approx. 10% of score – 85 pts.)

Reviews the mix of mortgages, credit cards, installment loans, retail accounts and finance company accounts.

 

In my research I have found that if you have a second mortgage, the credit bureaus see this as a giant credit card and is considered revolving debt.  It is often better (depending on other goals) to combine a 2nd mortgage in with a 1st.  The FHA loans have great rates, but more important than the rate, benefits that equate to cash/money.  Your credit scores are not as important as you may think with a GOVERMENT backed FHA loan.

If you would like to talk with a local FHA Loan Expert call 800-930-7334 ext. 1156 

or

email: zoat.international@gmail.com

Hint #1

HERE IS A WEBSITE, I HEARD, CAN INCREASE YOUR  CREDIT SCORE BY AS MUCH AS 40 POINTS.?

OPTOUTPRESCREEN.com – this is like the DO NOT CALL LIST FOR CREDIT CARD OFFERS in the mail or by email.  Leave a comment if you end up using it.

Hint #2

Go to a website where you can get your credit pulled.  Look through and make sure there are no discrepancies and that everything is relevant and current.  If there are things on there that are incorrect, contact the company and get verification that it is paid or closed etc.  Then contact the credit bureaus with the verifiable updated information.

 

 

STIMULATION CHECKS – coming to your mailbox soon! – THIS IS 2008 info NOT 2009, yet

THIS IS 2008 info NOT 2009, yet

Who gets a payment?

• Up to $600 to singles making less than $75,000

• $1,200 to couples making less than $150,000

• $300 rebates per child

WHEN YOU”LL RECEIVE YOUR REBATE

The order in which the IRS sends out payments will be based on Social Security numbers. If your return was processed by April 15, here’s what you can expect.

Direct deposit payment
If last 2 digits of your SS# are:	Your rebate should be sent by:
00-20	May 2
21-75	May 9
76-99	May 16
Paper check
If last 2 digits of your SS# are:	Your rebate should be sent by:
00-09	May 16
10-18	May 23
19-25	May 30
26-38	June 6
39-51	June 13
52-63	June 20
64-75	June 27
76-87	July 4
88-99	July 11

Source:IRS

Here is the latest info right from IRS.GOV website

B.YONEST and CAM equals BLACK MARKET

• BLACK MARKET MUZIK is now officially formed. A collaboration of THE WORD WIZARD and THE PEDIGREE.

• 2 SIDES 2 A STORY will debut soon… Both CAM and B.YONEST have been recording at INDUSTRY STANDARD

This is a WARNING to the entire Hip Hop Industry. LETZBYONEST.com will be launching soon. No track is off limits! Over 70 mixtape tracks and B. and CAM are SPITTING!!!

“FACE IT. PORTRAITURE IS BACK…Portraiture has become the rising star of contemporary art.”

Virginia Freyermuth has a gift for capturing a moment in time.  Capturing the essence of you or your loved one(s)!!

Who do you want to gift a portraiture to?

Thinking about that special gift!?  This is it!

Capturing a life size portrait of your family, a friend, pets, children, your parents or grandparents. 

Every couple of weeks I have the privilege of seeing a new portrait as it is finshed. I am absolutely blown away each and every time with the detail and life-like qualities of each painting.

We have one of these portraits hanging in our home and it is uncanny to me to look and realize that it is not a picture.

Virginia is spending more time serving clients throughout the world, yet still on a limited time basis. If you know of anyone or you yourself would like to have one made, I highly recommned it!  

 

She will be in Columbus, Ohio for the weekend of May 16th.  There is one available time slot.  If you would like information or to schedule a photo shoot, call now!  

614-893-5568  or visit 

http://virginiafreyermuth.com/portraiture/ for more information

 

“FACE IT. PORTRAITURE IS BACK…
Portraiture has become the rising star of contemporary art.”
Smithsonian National Portrait Gallery

One of the MOST remarkable things I have EVER seen!!!

Is this really possible? By the looks of Video – Yes! I have inquired with a few professionals to see if this is true.

If so, if one brain can work like this then with practice and repetition, I would hypothesize that any brain could learn to do it. Then think of all the applications and industries that will effect!

SKYBUS CLOSES: How do I get a refund?

COLUMBUS DISPATCH ARTICLE

Q&A: Where to turn if you’re stranded or need a refund

Sunday, April 6, 2008 3:59 AM – COLUMBUS DISPATCH

Q.I have tickets for a Skybus flight. How do I get a refund?

A. If you paid with a credit card or debit card, contact the card issuer by calling the toll-free number on the back of the card. Follow the prompts to speak with someone and then ask to file a dispute.

Expect to receive provisional credit to your account for the disputed amount in seven to 10 business days, one U.S. Bank branch co-manager said. During a 30- to 45-day period after the initial contact, the bank will research the problem on behalf of the customer. The co-manager noted that it’s important that customers complete the paperwork that will be sent to them. Customers risk having the provisional credit withdrawn if the dispute documentation isn’t completed.

Q. I was stranded and had to pay out-of-pocket expenses to get home. What do I do about being reimbursed for hotel and airline-ticket costs?

A. You’re out of luck. Having bought Skybus travel insurance — even the improved version offered starting March 5 — won’t help, either.

AIG TravelGuard, the insurer, said it will offer free rebooking — normally a $25 cost — for any Skybus customer, even those without insurance. That’s the extent of the help TravelGuard can provide, said Becky Edwards, assistant manager of its call center.

Skybus insurance policies covered flights missed because of problems such as an illness, inclement weather and, later, airline-caused delays and cancellations, she said. But Skybus did not include “default” — going out of business — as one of the circumstances covered by the insurance, she said.

Skybus ticket holders who paid for travel insurance and had not started their trip when the airline folded can apply for a refund of their insurance premium. Information on how to do that can be found at www.travelguard.com/skybus. The company’s toll-free number is 1-800-826-4919.

Q. Is any other airline offering help to Skybus ticket holders?

A. Yes. JetBlue is offering Skybus customers a standby fare of $50 for one-way travel, honored for any JetBlue destination within 100 miles of the original Skybus destination. JetBlue, however, doesn’t directly serve all former Skybus destinations, including Port Columbus.

US Airways said it will accept tickets for standby travel from Skybus passengers for $50 per person per nonstop segment, plus any applicable taxes and fees.

Southwest Airlines offered to fly stranded Skybus passengers at no charge to Jacksonville, Fla.; Manchester, N.H.; Norfolk, Va.; Providence, R.I.; Fort Myers, Fla.; or Raleigh-Durham, N.C., spokesman Chris Mainz said. Other markets might be accommodated on an individual basis, he said.

Passengers have to present their Skybus itinerary. He expects the offer to last through the weekend.

“We haven’t done it exactly like this in the past. But we do look at things on a case by case basis,” Mainz said.

– The Columbus Dispatch

SKYBUS SCREWS EVERYONE

http://skybus.com/ – SCREWS EVERYONE

This posting and news that SKYBUS closed their doors without telling anyone infuriates me! I have looked at it from multiple perspectives and understand why closing may have been the only move. As you look into the near future of economy and the burn rate of cash of company, I get it, BUT dont do such a disserve the the city of COLUMBUS. What do I mean?

All of the passengers across the country deserve much more then they are getting! It says on the website, if you have a ticket to contact your credit card company to APPLY for a refund. COMEON! This is absurd and ridiculous. The writing was on the wall when last week I read an article in the Columbus Dispatch that already said Skybus had failed in its wording. The CEO was stepping down and a CFO was coming in. HMMMMM Time for the new CEO to be the financial guy and have a fire sale. The cheerleader was no longer needed and must bow out before the real announcement took place.

This is a huge dis-serve to COLUMBUS residents. This puts a extremely bad press out there for COLUMBUS. Why not spin it into the BEST MARKETING campaign and say how we have done what we could to bring a new airline concept to the airs, it did not work. We want all of our customers to be happy and spin the story and have the world look at Columbus as caring and giving. NOPE instead do what you did the worst possible move.

Looking into the future it must have been a difficult decision. The govt and all of the high ranking investors and contributors to making SkyBus start originally, probably wanted to keep subsidizing the airline and make it work. But looking forward realized that it would not make economic sense.

Last week was my first Skybus flight. No bad, not ever again though.

COULD THIS BE BECAUSE OF NET JETS EXPANSION AND DECISION TO STAY IN COLUMBUS? HMMMMM NO PROBABLY NOT.

Here is an article from Columbus dispatch Sunday Morning about all of this:  ARTICLE