October 17th, 2008 by bun007
Credit providers are companies that provide you with a facility. This could be home loans or a loan for a car, or a loan for furniture that you’ll pay over 24 months or clothing you’ll pay over 5 months. It could also be a personal loan or a credit card. The benefits of having credit is that you wouldn’t have to wait until you’ve saved up some money to purchase that product.On the other hand you’ll pay more in the long term. and if you can’t afford it now then you shouldn’t by it. repayments may be simple but if you got a few loans then you could easily fall into debt trap.. Homes and cars are bought on credit due to people not having huge sums of money to pay for it.It would cost you 4 to 5 times more than the normal price if you pay off a house in 20 years as oppose to paying it off in say 7 years. Businesses like stores and banks give you credit, in return they make lots of money from the interest paid.You shouldn’t expect an objective opinion from a provider on your credit or expect them to take your concerns at heart due to profits they earn. Credit providers in most cases do not take in to consideration your opinion because it’s all about profit profit profit….
Credit providers use your credit report to assist them in making a decision on granting you credit by the following:
1. View how you cope with debts by the way you make payment on other accounts
2. To make a simple decision on whether they should or should not grant you a loan or credit.
3. Decrease their bad debts. To get an informed portfolio of your credit history from experian or transunion.
http://www.itcreport.synthasite.com You are aware that the our country is in a credit crunch,So please assess your own affordability before you go out and apply for credit.To avoid landing yourself in hot water.
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Tags: bad credit, bad credit loans, credit, credit card, credit check, credit repair, credit report
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October 14th, 2008 by bun007
When you apply for a loan, bond, or open an account for the 1st time or even if you open an account with a company like Telkom, you have given that business permission to send your personal information to a credit bureau. Where credit reports are made up with your name and personal information like your contact number.
From that very 1st month every new loan or payment missed or made is recorded. All these details are given a score, so next time you apply for a loan, that business you applied to will use that score as a way they choose to deny or grant a loan.
Your credit report contains details about your history and personal details such as address, name, ID number and employer. Which comprises of details you gave when opening an account. Credit bureaus also keep information on your credit history like history of payments and account history. A credit report doesn’t contain any information about sex, religion, or race
Credit Monitering
There are many ways to keep tract of your credit report with either Transunion or Experian.These are the two most important Credit Bureaus in South Africa.
All the major credit providing companies eg. Sterns,American Swiss, Edgars & Truworths use these two credit bureaus to credit vet any prospective clients that may apply for their services.IF you need more information on credit scores http://www.itcreport.synthasite.com/
Understanding your credit rating:
A credit score is a summary of a number of positive and negative factors on your credit report that aims to predict how likely you are to honour your credit commitments in future. This credit score is often used by credit providers to identify the risk in offering you credit.
Therefore it is very important that you maintain your credit score at a level that is acceptable to Credit Providers.
Article Source: http://EzineArticles.com/?expert=Benjamin_Thomas
Tags: credit, credit bureau, credit check, credit repair, credit report, credit reports, credit score, experian
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October 14th, 2008 by bun007
hello people! If you looking for itc checks or loans contact lci financial services on 031 305 5205….or visit our websites at www.lcifinservices.co.nr for loans and for credit checkz visit www.itcreport.synthasite.com
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