Things You Probably Didn't Know About Credit Cards

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Things You Probably Didnt Know About Credit Cards
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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 arent credit scores
• There are alternatives to FICO
• You dont need debt to build credit
• Medical debt isnt treated differently

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Credit Reports arent Credit Scores

• Experian, TransUnion, and Equifax generate credit
  reports. A credit report is your financial
  history. Its silent on whether you are eligible
  for a mortgage, credit card or an auto loan.
  Thats the job of other companies such as FICO
  and VantageScore. They analyze your credit report
  to assign you the three-digit number.

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There are Alternatives to FICO

• 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. Its possible
  to have a great score for credit cards and a poor
  score for a home mortgage!

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You dont need debt to build credit

• Many people get new credit cards and then make
  only minimum payments with the assumption that
  its good for their score. Paying your credit
  cards in full each month is the avenue for high
  scores.

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Medical Debt is Not Treated Differently

• No one knows where this idea comes from but
  nearly everything thinks that credit bureaus
  treat medical payments differently. Kramer
  insists it isnt true. In fact, medical bills,
  like any other expenses, will lower your credit
  scores.

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Start Rebuilding your Credit Scores NOW!
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Contact Us
RL Kramer LLC 424 Baker Ave, Unit
1664 Whitefish, MT 59937 Phone
406-730-7989 Fax [phone] Email
information_at_rlkramer.com Website
http//rlkramer.com
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