July 20, 2010
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News: Revitalizing Your Credit Card Score
It's been said that "time heals all wounds". While this may be a rather 'loose' generalization, some qualification may be of benefit to credit card owners. The numbers of wounded among us are too large for most of to count (somewhere in the hundreds of millions, perhaps). But, if you're reading this article (and you are), even the number 'one' is too high if that one happens to you. Suffice to say, if you own a credit card, you're probably one of the victims. Your credit card rating has been reduced for reasons you know are unfair and unwarranted.
From the credit card issuers' vantage point, however, "all's fair in love and war". Just because the war is not with us doesn't protect us from becoming casualties. Business is business, after all, and business goals and objectives must be employed to provide for the credit card issuers' survival. So, when the entire industry is on the brink of meltdown, a few good people (like you and I) will be asked to sacrifice for the good of all in order to build a better day.
Again, back to the opening statement: "time heals all wounds", that "better new day" may be getting close. Without risking endless platitudes like "the early bird...", suffice to say that some of us may see that new better day before others will. The following series is intended to help those credit card holders who would take the trouble to be first in line. There are steps to get there sooner.
The associated series for this primer article entitled ("Revitalizing Your Credit Card Score ") will explain many of these steps but it may be necessary to beware of hazards along the way. Understanding how the credit card issuers (and other creditors and rating agencies) make decisions will hedge us toward a more favorable direction.