Credit Power Center

Whether you are re-building your Credit, avoiding Bankruptcy or building an Investment portfolio, avoiding common errors is essential if you want to stay on your game. Credit Power Center is here to help with the latest financial tips to get you going in the right direction.

Many people know that filing for bankruptcy will stay on their credit report for up to 10 years, but most people I meet have no idea how to rebuild their credit after going through bankruptcy. I am not an expert in the area of credit repair. But, the following strategies will help you begin to rebuild your credit before your credit report no longer shows a declaration of bankruptcy or foreclosure.

1. Obtain a “Secured Card”.
Credit card companies are in the business of providing people with credit. Even if you have declared bankruptcy, credit card companies will typically offer you some type of credit card within the six months after your bankruptcy case is complete. If you are not able to obtain an unsecured credit card, apply for a secured card. Secured cards are typically available if a person is willing to make a cash deposit in a bank account which is used as collateral against any charges made to the secured card. This is a great way to start out. Keep your spending low and payoff the balance at the end of each month.

2. Never Make Late Payments.
In addition to paying off the credit card balance in full each month, make sure to never make any late payments. This is true for anyone, but especially true for people trying to rebuild their credit. Your entire goal in rebuilding your credit is to show lending institutions that you have credit worthiness and you are no longer a high risk borrower. One late payment will put you back at square one even if you have had several great months of timely payments. Read more…

When thinking about buying a new home, it is very important to know where you stand with regards to what your mortgage payments will be. One way of staying on top of things in this regard is to check out mortgage calculators such as can be found here: Read more…

In this time of credit crunch and recession, if you are in the market for a used car you want to be sure you get the best possible deal available.  That is why it is very smart to look at Black Book Used Car Prices to ensure you are paying, or getting the right amount for your Used Car. Read more…

With Personal Online Banking, individuals have much more time for the more important things life has to offer. With luxury and advancements of Personal Banking resources that a decade ago were not available will be at your finger tips 24 hrs a day, 7 days a week. Read more…

Just because you have a credit card doesn’t mean you have to run it up.  Remember credit is a privilege, not a right.

Using your credit card smartly will help you now, and years down the line build and maintain a strong credit history.  This of course will allow you to make those large purchases in life that you may have always dreamed of, a new car…a nice big home. Read more…

Its not easy, but lets face it it is one of the most important things you will ever do…building your credit while you are in college can set your financial foundation for the rest of your life.  Here are a few tips on how to start building your credit while in college or while you are young. Read more…

Paying bills online brings convenience to balancing your check book.  Online Bill Payments make it possible to eliminate the worry associated with paper checks and paper bills…which of course makes paying bills online the green – environmental way of doing it. Read more…

Setting up an Online Checking Account is simple, easy and usually quick…o and did I mention easy? Banks these days actually prefer that you do setup your checking accounts online since this relieves them of having to hire more employees to service clients in person. Read more…

Over the past decade, online banking has increased in popularity dramatically and this is especially evident at Bank America.  Banking Online saves you time and can simplify your finances. Online banks exist both in the real world and the virtual world. Read more…