California Credit Tips

California Credit Card Tips

If you are like most credit cart customers, you have received notices from your bank recently stating your interest rate is rising to 19% or your credit limit is being cut in half. Irritated by the changes? Inclined to take your business elsewhere? This is exactly the right instinct, since plenty of people can still get a better deal from a different card. The best revenge is a better card. Start by calling the card company telling them that you are considering leaving and asking for a better deal. If they turn you down, start shopping. Sites like www.creditcard.com, www.cardhub.com and www.cardratings.com can give you a sense of your options. But don't stop there, because the sites may not list all the best deals. Credit Unions often offer lower interest rates; find one that will accept you at www.creditunion.coop. Also, anyone can become a member of the Pentagon Federal Credit Union by paying $20.00 to join the National Military Family Association.

What is a FICO Score?

FCIO scores are the credit scores most lenders and insurance companies use to determine your credit risk. You have three FICO scores, one for each of the three credit bureaus - Experian, TransUnion, and Equifax. Every FICO score is based on the information that each credit bureau keeps on file about you. As the information in each of your credit reports changes, your credit scores tend to change as well.

Why Should California REsidents Check their Credit Score?

Why you should check your credit scores - Your FICO scores often vary from bureau to bureau. This fluctuation could be the difference between a low rate and a high one. Differences may be caused by errors in one of more of you credit reports; errors you may be able to correct. If you are planning a major purchase in California, like a home or car, etc, it is a good practice to check your scores. A 50-point score variance could cost you more than $200 per month in mortgage payments. Check your current credit score at www.myfico.com by purchasing a credit report for $15.95. This site is loaded with good information every California consumer should know.