January 1,2009
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Economic Self-Recovery, Pt.2 –
– Here's how you can do it.If you can get your FICO Score up to the low 700's, you can probably acquire a 0% (or at least very low) APR account. You can get your FICO Score from any (or all) of the three national credit rating bureaus: TransUnion, Experian or Equifax. Your FICO Score is the one generally used by the credit card lending banks. Although your FICO Score is generally not free, it can be purchased reasonably from each of these bureaus as a service that will also council you in the easiest way to improve it. Many black marks on your record actually have very little to do with your FICO (credit card) Score and you may waste a lot of time and resources finding that out. These bureaus can help you with this. Remember, the goal is to get a low-APR credit card account.
To start with, Federal law provides you with a free credit report each year from each of these bureaus. You can either place a request for a postal mailing or get immediate downloads online. All three of these three bureaus can be reached at: ‘Annualcreditreport.com'. Credit card (FICO) scores are not free, however. Instead of spending weeks learning what needs to be done, it may be worth clicking on one of the hyperlinks to purchase a bureau's service to help you along with just credit cards.
Once you have secured a low-APR credit card account, move your high-interest and steep-payment debts to this new account (either by transfer or by paying all possible expenses with the new card and immediately applying the cash-not-spent toward the high-interest and steep-payment accounts). Also, apply all of the interest that would have been owed on the high-interest account to pay ahead on that account. You may only get 6 – 9 months of this low interest, so work fast. Make sure the APR hike that follows the 0% promo is within your means, if you will still owe debt. Never make a late payment!