In an "industry sponsored" report

If phone numbers to offshore to people without the ability to do anything for the customer, and PO Boxes are provided that go into a dead letter hole (and the PO box numbers are often changed without notice, so your request goes to the dead letter file at the USPS), then how is a consumer to get justice and change for their credit reports?  Working with a company like ours, with nearly a quarter century fighting for your rights and WINNING!  Give us a call today to learn how working with KC Credit Services can benefit you.

Donna Perkins

Each creditor has established their own set of guidelines and rules for extending credit. A creditor will usually require a full application that asks for many things: your income, your employment history, current level of committed expenses, your spending habits, and your credit history.

If you falsify any part of the application, you have committed credit fraud. The creditor will subjectively review all facts available, and make a decision for or against giving you credit based upon their own review criteria.

You may never know what that criteria consists of. Remember, this is not an OBJECTIVE decision. It is SUBJECTIVE. That means that the creditor may make any decision he wishes, except where the law dictates his actions (as in race, color or creed discrimination.  New credit can be granted even though your current score is weak, if other factors support it.

Donna Perkins

So your FICO credit score is only one of many facts that the creditor will consider in reviewing your application and granting credit to you.

Let us help you with your credit restoration needs so you can once again qualify for new credit lines.

If you paid cash for everything, you would have no credit history.

If you have no credit history, you have no credit!

Use of credit is important to developing a great credit score. But you must follow the guidelines for keeping it great, which include:

1) keep your debt-to-credit ration under 30% per card

2) pay your bills on time, every time

3) pay every bill, every month it is due

4) don't ask for more credit than you can afford.

By following these guidelines, you will develop the best credit history possible.

Donna Perkins

And remember…as your income rises, more credit is appropriate. But be selective, and be sure not to overdo it.

Our professional Credit Concierges(tm) can help you with understanding these concepts. Call us today!

This is a common misconception. There are several factors that must be considered when applying for new credit.

1) If you apply for several credit cards at once, each occurrence will result in an "inquiry" on your credit report. Each inquiry drops your score about 7 points. So it would be prudent to carefully review the offers you receive and select one or two to apply for.

The inquiry shows up on your report regardless of whether or not you are granted credit. But the bigger issue is that all of your creditors see the inquiries, and this indicates to them that their involvement with you may be at a higher risk. Because you are seeking additional credit lines, you may be expecting to spend more money on credit. This can put their balance with you at risk of default. Therefore, there may be negative consequences to frivolously applying for multiple cards within a short time span.

Donna Perkins

2) If you are trying to purchase a car, and go from dealership to dealership filling out applications at each one within a short time span, each application will result in an inquiry on your credit report. This is usually viewed by your creditors as only one inquiry for the purposes of risk assessment. The same holds true for real estate. However, you may need to apply to the credit bureaus to remove those extraneous inquiriies could take some time. You may need your Credit Concierge's(tm) help to make this happen.

Let us know how we can help you.

In addition to removing negatives from your credit, we teach you how to negotiate your debts with creditors, give you access to an educational financial program that is self-administered at your leisure, set up protection for you against creditor violations of the Fair Debt Collection Practices Act (FDCPA), get you off the list that the bureaus sell to creditors, and help you locate postiive trade lines to help improve your scores.

Donna Perkins

If you have already enrolled with us, CONGRATULATIONS!  You are on your way to financial freedom!  If you have not committed yet, please take a moment to consider this article.  Also, you can browse our website to become more familiar with our range of services of credit repair and more.  Get Started Today!  Click Here.

1)   Those who have had a checking account closed by the bank.  This usually occurs when too many checks bounce, or the account is overdrawn too many times.  Banks have regulations they must follow, so if you hit their magical threashhold, they can cancel your checking account without warning.  Anyone going through tough economic issues may find this to be true. 

So what are your options when this occurs?  Well, you can apply at another bank…that's obvious.  However, since banks communicate with one or more check verification services like ChekSystems, once you get on their bad list, most banks will not accept your request.  Wow, you say…how could that happen?  Well it does, to millions of people every year.  If this is happening to you, you can:

• have your payroll and other checks cashed at a check cashing service, paying fees to get them to do it for you;
• hide your cash in your mattress;
• have relatives hold your funds and dole them out to you.

None of these ideas is very palatable, and costs you more money than banking.  There is no security in these choices. 

Another option for you is to open a checking account with a "second chance checking" bank.  Mostly, these are online banks.  You set up your checking and savings accounts, with the minimum they require (average $100), and they require that you have at least one payroll check direct deposited into the account.  They provide you with a debit card so you can quickly access your cash, and they offer other services as well for your convenience like transfers of funds.  You likely will not receive a checkbook…everything is done online.  So you would have to pay most of your bills using the debit card.  It is a good idea to choose one of their services, which automatically transfers money from your savings account when and if you have an overdraft situation on your checking account.  They charge for doing it, but it is better than having your payments bounce…again.  Second Chance Checking is a good option.

Credit Union's also have this service, so check out the one that you qualify for and go talk to their new accounts people.

Don't have the attitude going in that you are "less than", and have your hat in hand when you ask for an account.  The bank knows that they will make fees off your accounts, which can include:

• Monthly Service Fee
• Non-Sufficient Funds fee (NSF)
• Overdraft Fee
• Transfer Fee
• and many others

2)  New Accounts – for students and immigrants

When you just start out in life, or have just moved to this country, it is a very intimidating proposition to approach a bank to give you a checking account.  You have no history, no references…nothing to prove yourself.  Sometimes it is better to start out with a second chance checking account, unless your parents or relatives are willing to co-sign for you.  In this way, you can develop a good history before trying to get approved by one of the major lenders.  Second Chance Checking can help you get started.

Make sure that once you have this new second chance checking account, you manage your money well so you don't have to find out that a payment you made was rejected for insufficient funds.  You need to keep this account clean and running smoothly, so eventually, you can get back to having a regular checking account once again at one the major banks.  For more information on how Kansas City Credit Services can assist you with this, click here.

Donna Perkins