Comments on: 4 Easy Tricks To Improve Your Beacon Score http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/ This is where your finance takes place Thu, 09 Feb 2012 13:23:29 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: The Financial Blogger http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/comment-page-1/#comment-18511 The Financial Blogger Wed, 15 Jun 2011 14:06:59 +0000 http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/#comment-18511 @Josh, terrible advice? yeah I completely forgot that if you pay gas & groceries with your credit cards you will definitely EAT MORE and PUT MORE gas in your car. Those are expenses you have anyway. If you can't control the money that is coming out of your wallet and you can't keep up with a budget, this is a whole different problem. The truth is that if you use your credit card for day-to-day expenses and you pay your credit card bill completely at the end of the month, you will improve your beacon score as you will show that you are able to manage your credit as a responsible and intelligent individual. Tell me again how paying off completely your credit card at the end of the month will get you in debt? @Josh,

terrible advice? yeah I completely forgot that if you pay gas & groceries with your credit cards you will definitely EAT MORE and PUT MORE gas in your car. Those are expenses you have anyway. If you can’t control the money that is coming out of your wallet and you can’t keep up with a budget, this is a whole different problem.

The truth is that if you use your credit card for day-to-day expenses and you pay your credit card bill completely at the end of the month, you will improve your beacon score as you will show that you are able to manage your credit as a responsible and intelligent individual.

Tell me again how paying off completely your credit card at the end of the month will get you in debt?

]]> By: Josh http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/comment-page-1/#comment-18506 Josh Tue, 14 Jun 2011 19:34:09 +0000 http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/#comment-18506 Not only is this blog entry incredibly inaccurate and poorly written, but it is offering TERRIBLE advice!!! Suggestions such as "use your cards daily" are the reason that so many individuals in our country are in debt up to their eyeballs and are taking drastic efforts to get out of debt. With the unemployment rate as high as it is, the last thing anyone should do is put their living expenses on their credit card, as if they get laid off their credit cards will be the last thing that their savings go toward. You are a banker and are telling people how to get into debt. I manage a business that helps individuals become debt free. My tip for using your credit cards responsibly is very simple- Don't! One low limit credit card and an auto loan will be sufficient to qualify you for a mortgage a few years after they are opened and paid consistently. One could argue that you will pay so much more with a higher interest rate on your mortgage, but I would take a 7% rate on 200K for 30 years over a 29% interest rate on God only knows how much "daily spending" for the rest of my life any day! i would definitely suggest that you think further before posting an article such as this, as it could ruin someone's financial future. Not only is this blog entry incredibly inaccurate and poorly written, but it is offering TERRIBLE advice!!! Suggestions such as “use your cards daily” are the reason that so many individuals in our country are in debt up to their eyeballs and are taking drastic efforts to get out of debt. With the unemployment rate as high as it is, the last thing anyone should do is put their living expenses on their credit card, as if they get laid off their credit cards will be the last thing that their savings go toward.

You are a banker and are telling people how to get into debt. I manage a business that helps individuals become debt free. My tip for using your credit cards responsibly is very simple- Don’t!

One low limit credit card and an auto loan will be sufficient to qualify you for a mortgage a few years after they are opened and paid consistently. One could argue that you will pay so much more with a higher interest rate on your mortgage, but I would take a 7% rate on 200K for 30 years over a 29% interest rate on God only knows how much “daily spending” for the rest of my life any day!

i would definitely suggest that you think further before posting an article such as this, as it could ruin someone’s financial future.

]]> By: Stephane Grenier http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/comment-page-1/#comment-1853 Stephane Grenier Wed, 20 Feb 2008 16:41:07 +0000 http://www.thefinancialblogger.com/4-easy-tricks-to-improve-your-beacon-score/#comment-1853 Another tip, which only works if you've already defaulted on an obligation, is to ask the collection agency for the original paperwork. If they can't find it, mainly because your obligation has probably already passed through several hands, then they can't report it. If you're interested in more details I wrote about it at: http://www.followsteph.com/2008/02/18/a-lesser-known-secret-tip-to-increase-your-credit-score/ Another tip, which only works if you’ve already defaulted on an obligation, is to ask the collection agency for the original paperwork. If they can’t find it, mainly because your obligation has probably already passed through several hands, then they can’t report it.

If you’re interested in more details I wrote about it at: http://www.followsteph.com/2008/02/18/a-lesser-known-secret-tip-to-increase-your-credit-score/

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