Suze has taken the FICO® Kit to a whole new level with the new and improved – Platinum – version. She makes it easier than ever before to take control of your credit and save money!

The Suze Orman FICO® Kit Platinum Version still comes standard with many of the features you have come to know and love: including 3 personalized credit reports and 3 FICO® scores (from your choice of Equifax or TransUnion), plus many NEW AND EXCITING features.

Getting started is as simple as 1-2-3.

1. Click
Your FICO® Score

Click once, answer a few questions, and get your personal credit reports and FICO® scores. The Suze Orman FICO® Kit includes an at-a-glance explanation of your personalized FICO® score health. See yourself as lenders do and learn how your FICO® scores affect the interest rates you pay.

2. Quick
Action Planner

Based on your financial goals, FICO® scores and credit report information, the FICO® Kit Action Planner will walk you through a step-by-step process to help you take control of your credit and harness the power of your FICO® scores.

3. Get Ahead
Debt Eliminator

Learn how to get out of credit card debt with your own personalized debt analysis and repayment plan. Discover if you’re paying too much in interest and follow the personalized guide to negotiate the interest rates you really deserve.

Day-to-Pay Bill Reminders
Paying your bills on time is easy with our email bill payment reminders.

InfoVault
Online InfoVault
Store your important information in the online vault and access it online anytime.

Online Home and Car Coaching
Save money on your home and car loans by learning the interest rates you may qualify for. This could save you thousands of dollars in interest payments over the life of your loan.

FICO® Score Simulator
The FICO® Score Simulator shows how your score can change when you:

• Pay your bills on time for many months
• Miss a payment
• Pay down your debt balances right away or every month
• “Max out” your credit cards
• Get a new mortgage
• Get a new auto loan
• Get a new credit card
• Get instant credit at a department store
• Apply for a new credit card and transfer balances to it
• Declare bankruptcy
• Error Detection and Correction

We highlight potential errors on your credit reports and give you the tools you need to update inaccurate information.

Other Information
Active for one year after purchase
Accessible from either PC or Macintosh with an Internet connection and with Internet Explorer 6.0 or later, Firefox 1.5 or later, or Safari 2.0 or later
Online product – no CD-ROM included
Suze Orman’s FICO® Kit Platinum
Instant Online Access
Price: $49.95

You might find the acronym confusing, but the APR (annual percentage rate) on your credit card is a number you should be familiar with. It’s important because it describes the cost of your credit balance on a yearly basis. A healthy understanding of what determines this rate can help improve your financial decisions. You can save by assessing your current rates against competing cards or new offers, creating responsible spending and payment plans, and avoiding actions that might trigger a higher rate. Late payments are a big hit on your FICO credit score and could boost your APR.

“It’s important for you to understand your annual percentage rate when managing your credit. You want to be sure you know just how much you are paying each month on your loan,” says Jennifer Ehresman, Bank of America Global Card Services customer experience executive. “Being knowledgeable about the factors that affect your APR will save you money in the long run.”

Here are some tips to educate yourself about your credit card:

1. Read the account agreement. If you are already using a credit card or comparing different credit card offers, pay attention to the details. Make sure you know how much you are paying in interest and how it is calculated. Some cards calculate APRs, while others do periodic rates (a monthly finance charge or a daily charge). But some cards vary these interest rates based on your use of the card, such as a 14 percent APR for purchases, but a 15 percent APR for cash advances.

2. Variable APR versus fixed APR. The account agreement tells you if your card has a variable or fixed APR. Variable means that the interest rate can fluctuate up or down from the set amount – called the margin – based on a reference rate like the U.S. Prime Rate (level charged by most banks to their most creditworthy customers). For example, when the U.S. Prime Rate increases, your variable APR can also increase. Fixed APR rates don’t fluctuate in this way, but they are not guaranteed – they can be changed based on market conditions. The good news with a fixed rate is that you will be notified first.

3. Higher or lower APRs. Which works best for you? It might always seem that having a lower APR is better, but not if you are a person who pays your balance off every month. If that’s the case, then you should be more interested in other fees that might apply to you – like cash advances or annual fees – because the APR doesn’t affect you.

4. Calculate how much interest you pay. If you maintain a balance every month, take a moment to look at how much you are paying in interest. The statement should tell you, but you can figure it out for a specific day. Your DPR (daily periodic rate) is calculated by dividing the APR by 365 (the number of days in a year). That number is multiplied by the account balance that day and by the number of days in the statement billing cycle, as shown on your statement. This figure might be a wakeup call, because what you pay in interest could be extra money in your pocket.

“Almost everyone reaches a point where they need a loan – whether for a mortgage or a start up business,” Ehresman says. “Stay in control of your credit and you will be able to secure a loan with a more favorable interest rate, thus enjoying the benefits that good credit management offers.”

Tax Credit Provides Outstanding Opportunity for Home Buyers

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.

Who is eligible to claim the tax credit?

First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.

Now is the time to get your credit report and credit score in the best position possible. Suze Orman’s FICO Kit Platinum is the best tool you can buy to show you exactly how to improve your credit score.

You have plans for your family and future . . . maybe a new house, or a new car to replace the worn-out model you’ve been driving since your college days. Perhaps you’re looking way into the future to when your children are heading off to college, creating a need for loans and financing?

See our video review of the Suze Orman FICO Kit and Financial Planner.

In today’s economy, Americans are dealing with the credit crunch by keeping cash on hand. In the process, however, the average consumer is paying 2.6 bills late every month, according to the Western Union Payment Services Money Mindset Index.

Unfortunately, late fees and additional unnecessary charges can stack up quickly, depleting your cash flow and harming your credit score. Here’s how it works:

The longer you maintain a track record of paying your bills on time, the better your credit score, according to the Fair Isaac Corporation, which created the FICO score, more commonly known as a credit score. Your bill payment history accounts for 35 percent of your credit score, which is used to determine your eligibility for mortgages, auto loans, credit cards and other financing.

However, late fees can lower your credit score — and there’s no quick fix. When you apply for a loan, a low score may hinder your efforts to secure funds.

“Managing your finances can feel like a juggling act that won’t end,” says David Shapiro, senior vice president of Western Union. “Flexible payment plans can help consumers keep their cash flow strong by timing the paying of bills to when they get their paychecks. This allows you to avoid late charges and risking credit standing. Over time, consumers can build a strong credit history, allowing them to finance a car or a home when they are ready.”

In tough economic times, Shapiro and other experts say, lenders will scrutinize your credit score even more. Many credit offerings and debt consolidation loans may seem advantageous, but can actually lead to debt disaster. Here are simple tips for avoiding unnecessary fees and maintaining a good credit score:

In tough economic times, Shapiro and other experts say, lenders will scrutinize your credit score even more. Many credit offerings and debt consolidation loans may seem advantageous, but can actually lead to debt disaster. Here are simple tips for avoiding unnecessary fees and maintaining a good credit score:

* Avoid credit agencies that charge fees to improve your credit score. You can go online to reputable sites such as money.com or kiplinger.com and receive free advice.

* Research flexible payment plans that allow you to make smaller, more frequent affordable payments, such as paying a bill twice a month, but at smaller increments that suit your monthly budget.

* Pay off credit card debt. Maintaining low balances can show your ability to manage bills and can increase your credit score over time. Once you pay it off, try to only carry a balance that you can pay off in a month. Paying off your balance each month in full can help your credit score.

* Consider same-day payments. You can maximize cash flow by paying your bill the same day it is due. For example, you can make an in-person cash payment at more than 45,000 Western Union Agent locations, and receive proof of payment within minutes. Visit WesternUnion.com to find the closest agent near you.

* Check your credit report. You can get a free report at annualcreditreport.com or by calling (877) 322-8228. If you see a mistake, take necessary steps to get the mistake corrected as soon as possible.

* Learn more about credit scores. Download a free educational brochure from Fair Isaac Corporation’s Web site, www.myfico.com.

Just a few simple steps can make a big difference in managing your finances. Once you have a plan in place, what seems like a juggling act will turn into a smooth transition.

Associated Press

What’s better, a low interest rate or generous rewards points? Does it matter where you use your credit card, or is it how much you debt you have available that’s important? Take this short quiz and find out some important information about using and managing your credit cards.

1. What’s more important for your credit score?

a) Your payment history

b) How many credit cards you have

c) How long you’ve had your cards

d) How many times you’ve applied for credit cards

2. True or false: Studies have shown that people spend more when they use credit cards than when they’re shopping with cash.

a) True

b) False

3. The typical American carries a balance of $3,000 in credit card debt. If you make no more charges and pay only the minimum payment due each month, how long will it take to pay that debt off at 10 percent interest?

a) 2 years

b) 8 years

c) 18 years

d) 29 years

4. Once you open an account with a certain interest rate, the bank may raise that rate:

a) If you miss a payment on that card

b) If you miss a payment on another card or loan

c) If you lose your job

d) At any time

5. True or false: Credit card issuers always give you a “grace period” to pay your purchase in full before finance charges are applied.

a) True

b) False

6. If you pay off the balance on a high-interest credit card, the best thing to do is:

a) Close the account

b) Leave the account open but don’t use it again

c) Leave the account open and use it once in a while

d) Charge up the balance again

7. True or false: You can judge whether banks think you’re a good credit risk by the number of credit card offers you receive in the mail.

8. Rewards or points on your credit card are a good deal only if:

a) You get free airline tickets

b) You get cash back

c) You carry no balance on the card

d) The card has no annual fee

9. Credit card issuers look at the following when deciding whether to change your credit limit:

a) Your payment history

b) The limits on other cards you hold

c) The types of places you use your card

d) All of the above

10. How is the interest charged on your account each month calculated?

a) The annual percentage rate (APR), multiplied by your balance

b) APR divided by 12 months, multiplied by your balance

c) APR multiplied by your new charges

d) APR multiplied by the balance left unpaid the prior month

Answers

1. (a) Paying your bills on time accounts for 35 percent of your score.

2. (a) True. It’s tougher to take cash out of your wallet.

3. (c) With an initial minimum payment of 2 percent, or $60 per month, it will take just over 18 years, with some $1,935 in interest charges.

4. (d) Banks can change your interest rate for any reason at any time.

5. (b) False. While credit card issuers are legally allowed to wait 25 days before charging interest, it is becoming more common to reduce or eliminate these periods.

6. (c) Paying off a balance and then using a card occasionally will provide the biggest boost for your credit score. If you close the account, particularly if it’s one you’ve had for a long time, your credit score may go down.

7. False. The offers that come in the mail are based on a range of different factors, like what magazines you subscribe to.

8. (c) It is worthwhile to chase rewards points if you carry no balance on the card, because the rewards cards typically charge higher interest rates.

9. (d) Banks will look not only at your payment history and total available credit, but also your money spending habits.

10. (b) The method used to figure the amount that rate is applied varies, but is usually based on your unpaid balance plus new charges, minus payments.

Score Card

If your score is between 0-3

Learn more about using the credit cards you hold and track your credit score and you’ll likely save money in the future.

If your score is between 4-7

You’ve got the basics down, but you could benefit by keeping on top of credit card trends.

If your score is between 8-10

You’ve got a clean credit report — but make sure you use this knowledge to your advantage by managing your cards wisely.

Source: http://www.heraldnet.com/article/20090428/BIZ/704289938

Source: Chicago Extra

In this economy, having a good credit score may not be enough to obtain a low interest rate or get approved for a loan.

This is the case for many people who at one point or another have had trouble with their credit. Making late payments or no payments at all for a long period of time can affect your credit. Don’t forget about collections, bankruptcies and judgments.

Like a criminal record, your credit rating may now affect your possibilities of obtaining employment, purchasing cell phone plans, apartment/home rentals and loans.

Paul Labonne, vice president and CRA officer with National City Bank (now part of PNC Bank) gave a few tips about how to deal with credit repair and how to spot scams, which end up costing you a lot more and leave your credit rating the same.

To start, Labonne said that people should order their credit report from any of the three major credit report agencies: Equifax, TransUnion and Experian.

“Preferably all three because sometimes the information that appears on one of the reports may not be on the other. Then review the information thoroughly and make sure the name, address and social security number is correct. Often times, that information is not correct and that can be a cause for bad credit,” Labonne said.

He suggests that once the credit report is received, people should go through it and request that any information like past delinquent accounts that have been paid and are more than seven years old, are removed from the credit report.

Credit repair scams
“The best way to avoid being taken advantage of is by not hiring any credit repair agency because there is nothing they can do, that you can’t do yourself,” Labonne said.

He said that most of the time, people hire credit repair agencies because of language barrier or they don’t have the time to do it themselves.

If someone needs to use a credit repair agency, Labonne suggest that they go to a reputable, not-for-profit agency that deals with affordable housing or financial counseling, which can guide them with the credit repair process.

“They’ll work with the client and help them reestablish credit. The best way to reestablish credit is to get on a budget and eliminate all the unnecessary credit cards. Instead of having up to 10 credit cards, just have two that you actually need for every day use or emergencies,” Labonne said.

To conclude, Labonne also suggests that if you dispute an item, it is best that you send it by certified mail so that here is proof that it was received. The credit bureau then has 30 days to investigate each disputed item and verify it or delete it.

“If you are saying something happened and the credit bureau can’t prove that it didn’t happen the way you say it did, they have to remove the item. The law requires that each disputed item must be verified and accurate for in order to stay on a credit report,” Labonne said.

To obtain your credit report you can contact:

Experian: (888) 397-3742

Equifax: (800) 685-1111

TransUnion: (800) 888-4213

Spring is a popular time to begin home improvement projects, especially if they’ll upgrade outdoor living spaces. With the economy keeping more homeowners in place, rather than moving up to bigger, grander digs, improving your home can elevate both your enjoyment and its eventual resale value.

A great home improvement can enhance your enjoyment of your home and its eventual resale value. Even if you choose just the right improvement — one that makes you love your home even more and will woo potential buyers come selling time — you may still be frustrated wondering how you’ll pay for your project.

Before you dive into your spring home improvement, keep a few points in mind:

Your Finances

First, get your free credit score and report. Any significant home improvement, such as building an addition or turning your backyard into an oasis, is probably going to require you to find financing. Before you make a single phone call to a potential lender, it pays to know your credit score and what is on your credit report. The higher your credit score, the more leverage you will have to negotiate a good financing deal, including a lower interest rate.

Enrollment in membership based products like MyFico.com give you access to your credit report and score, which potential lenders will almost certainly use to determine if you’re a good credit risk. You’ll be able to see what finance companies see when you look at your credit report, including your payment history and whether there are any errors or other blemishes on your report.

Once you’re confident of your credit score, you can evaluate your financing options, whether it’s a second mortgage, a personal line of credit or a home equity line of credit. If your credit score is under 700 then the Suze Orman FICO Kit may be just what you need to manage your credit score and get it back to the “best credit” level. You want the 3 credit report score because it can differ between bureaus. A better credit score will save you money.

Smart Choices

Some financed home improvement projects pay off more than others in terms of enhancing your home’s value and your enjoyment of your house. If you’re opting for improvements to your outdoor living spaces, consider ones that will deliver the greatest return for your investment, such as patios, decks or screened porches. In fact, the National Association of Realtors’ 2008 Remodeling Cost vs. Value found that outdoor improvements, such as wood decks, continue to recoup 80 percent or more in value upon resale.

Landscaping, it seems, is also popular with potential buyers – a University of Michigan study found that potential buyers scored a well-landscaped home 11.3 percent higher than the same home without good landscaping. The trend for more Americans to stay home and invest in their surroundings, rather than spend on pricey vacations, has spurred interest in grand backyards that evoke the look and experience of a resort. From in-ground pools with water slides to lavishly tiered patios that feature built-in hot tubs, a growing number of homeowners are focusing on outdoor improvements that improve resale value and their current enjoyment of their homes.

Before you make your summer remodeling plans, check your free credit report at www.FreeCreditReport.com. If you plan to sell your home within five years, it might pay to check with your realtor as well to see if he or she can give you an idea of how much your investment might affect the eventual sale price of your home.

Another trickle-down effect of America’s credit crisis: car insurance companies are using your credit score to help determine if you’ll be covered behind the wheel.

A Springfield insurance agent says car insurance rates have gone up about 5% in the past five years. Companies are really looking at those credit scores and using them to determine your rate.

You still have options if your score recently took a nosedive.

“It is very competitive,” Jeff Lindsey of Allstate says about the car insurance market.

He says companies can afford to be picky about who they insure.

“We take a picture of what you look like at a given time,” Lindsey says. “We’ll use everything from credit to loss history.”

That’s a double whammy for anyone who’s lost money lately, and it can affect your car insurance rate.

“Some companies could require you to have a certain credit score, some may rate you differently on price,” he says.

Lindsey says as long as you keep your insurance current, you’ll get a green light from insurance companies.

“Most companies don’t really look at that at renewal,” he says.

But if you miss a payment and let your insurance lapse, you’ll pay for it.

“You’re going to have a little bit of sticker-shock,” Lindsey says.

He says forget perks and benefits like company loyalty that save you money every year.

“You’re going to almost start over, so you may go back to an almost standard rate,” Lindsey says. “It’s going to be that way for at least a year.”

He says don’t be afraid to communicate with your insurance agent.

“Call us before you cancel and say, ‘Hey, I can’t make the payment.’” Lindsey says. “If you’ve been a client for awhile, there may be a skipped bill option.”

Insurance companies can’t forgive a missed bill, but they can look into policies that would give you a 30-day extension.

“We may be able to do some coverage options or things that could allow you some more time on your insurance bill without letting it lapse,” Lindsey says.

He says he did see clients miss payments in December and January, but since then, most clients can afford to make payments on time. Lindsey says that’s perhaps some “good news” on the money front, and we don’t get that a lot these days.

There is a state agency that oversees all insurance sold in Missouri. The Missouri Department of Insurance out of Jefferson City regulates insurance practices.

Companies file their rates with that agency for state approval. It’s also people’s go-to agency if you suspect an insurance company is gouging you with high rates. For more information, call 1-800-726-7390

Source: Ozarks First

Solve Debts, a leading debt settlement company located in San Francisco, California, has published the top 5 factors that affect a consumer’s FICO score. Due to the difficult economic and credit market environments, Solve Debts is seeking to educate consumers about their scores and what can be done to improve them.

“Lending standards have tightened considerably in the past 12 months,” said Andy Creager, director of Solve Debts, California.

“It’s important for consumers to know how much credit scores are determined so they can be proactive in maintain or restoring them,” he added.

Solve Debts list includes:

Payment History: One of the most important factors in a credit score is whether or not bills are paid on time. Payments 30 days past due are typically reported to all three bureaus and will negatively impact a score.

Revolving Debt Balances: Another important factor is the amount owed on revolving debt. Balances at or near credit limits will have a negative impact on one’s credit score. “If at all possible, we recommend keeping balances below 40% of the total credit limit, “said Creager, “Anything over 50% will start to negatively affect a score.”

Length of Credit History: Consumers with new or recent credit profiles will be affected. This is one factor that is out of the control of consumers and Creager noted that maintaining a satisfactory credit history over a prolonged period of time is the only solution to improving this scoring component.

Types of Credit In Use: Excessive revolving debt (credit cards or other unsecured lines of credit) will typically have a negative impact on one’s score. Creager recommends no more than two open revolving debts accounts at a time.

Inquiries: Although a minor component to the overall score, excessive “hard inquiries” on your credit profile will begin to drag down a score.

About Solve Debts, California
Located in San Francisco, California, Solve Debts is a member of The Association of Settlement Companies (TASC) and offers solutions and programs to Americans looking to get out of debt. With it’s main offices California, Solve Debts uses a mulit-facted approach to assist clients to become free from credit card companies and other unsecured debtors in a relatively short period of time. For more information, visit http://www.solvedebts.com or call 1-800-390-2805.

Just about everybody knows that you can get your FICO credit score for free once a year but some credit card holders will get lucky over the next several months and become eligible to get their FICO credit score for free once a month. A FICO credit score is a snapshot in time of your credit history so being able to check on it as often as you can is to your benefit. Every credit transaction you make and every report from one of your creditors to Fair Isaac and the other credit reporting bureaus can change your FICO credit score.

In January, 2009 Fair Isaac, the company that developed the FICO credit score and which usually charges about $16 for a credit score, completed a deal with the Pennsylvania State Credit Union (PSECU) to provide its 200,000 members with free access to their FICO credit scores once a month

Fair Isaac already offers a similar service to holders of the Sears Solution MasterCard issued by HSBC and to Washington Mutual credit card holders. A Chase spokesman said the company, which has acquired Washington Mutual, hasn’t yet made a decision if it will continue this service.

Even more consumers could be eligible in the months ahead as Fair Isaac inks more deals like these. “The top 10 banks would be on our target list for these kinds of programs,” says Fair Isaac spokeswoman Laura Heinrich.

When you get your credit card statement in the mail it may be worthwhile to check through all those extra inserts you usually throw away without looking at. If your bank makes a similar deal with Fair Isaac to let you check your FICO credit score monthly the announcement will probably be on one those inserts.