"There ain't no free lunches in this country. And don't go spending your whole life commiserating that you got the raw deals. You've got to say, 'I think that if I keep working at this and want it bad enough I can have it.' It's called perseverance."
Lee Iacocca
Businessman and Former CEO of Chrysler
Thursday, April 30, 2009
Thursday, April 23, 2009
Quote Of The Day
"Don't be afraid to give up the good to go for the great."
Kenny Rogers
Singer and Actor
Kenny Rogers
Singer and Actor
Tuesday, April 21, 2009
Quote Of The Day
"Imagination grows by exercise, and contrary to common belief, is more powerful in the mature than in the young."
Paul McCartney
Singer/Songwriter
Paul McCartney
Singer/Songwriter
Saturday, April 18, 2009
Credit Problems?
Credit Problems Are Easy To Create
But Hard To Solve
Hello, my name is John Caudell and I’m the owner of Pre-Owned Motor Cars in Kailua-Kona, Hawaii. I am sure you have seen our ads or know someone who bought a car from us, so you already know we call ourselves the Credit Experts. And this free report will give you the top 10 ways to improve your credit situation.
Yeah, credit problems are easy to create and hard to solve, but that doesn’t mean it is impossible. You can do it, if you follow these easy ways to boost your credit score and get back on track.
#1 – GET INFORMED
Look, we talk to a lot of people with credit issues they never knew they had. Maybe you didn’t get that bill the hospital sent or maybe you just forgot. So the first thing you need to do is find out what the car dealers and banks already know – what is on your credit report?
And the government has finally made something easy for you – they REQUIRE all three credit reporting agencies to provide a free copy once per year.
If you have access to the internet, go to www.annualcreditreport.com. Make sure you don’t go to “other credit report.com” ( we can't call them by name because of legalities – that is a scam to get you to sign up for a monitoring service.
Around here, most lenders use Equifax. The other two credit reporting agencies are Experian and TransUnion. But start with Equifax. You can get a free copy, right online and look at it and print it.
#2 - DISPUTE INCORRECT INFORMATION
A story by CBS news in 2004 claimed that almost 80% of all credit reports have mistakes. That is 4 out of 5 folks! And if those mistakes are bad enough, they can keep your score down, make your credit card and loan rates higher or even get you turned down!
So what do you do? If you got your credit report online at www.annualcreditreport.com, you can dispute incorrect information there. If not, submit your dispute in writing to the credit reporting agency that sent you your report.
By law, they must verify the information they are reporting as correct. If the "lender" does not respond within 30 days, the credit reporting agency must remove the item and cannot put it back.
#3 - PAY IT DOWN
If you carry balances that are close to your limit on credit cards or loans, your score suffers. Having a small credit card with a $500 limit and $500 owing on it WILL HURT YOUR SCORE. This is another reason new credit often temporarily hurts your score - you have NEW credit and it is at your limit.
Do everything you can to pay down balances, especially on credit cards. You will save money and improve your score!
#4 - PAY IT OFF
Sometimes it sneaks up on you. You go to Lowe's and get 10% off for opening a new account. Oh, and then you can get a great deal on gas at Exxon, so you add another. Before you realize it you have 8-10 credit cards. Now maybe you use them and maybe you don't, but it doesn't matter to the credit gods. They will ding you score for too many open accounts.
Let's face it; you really don't need 8-10 credit cards. Two cards and maybe one more department store card and close the rest. Get those other accounts paid or transfer the balances to one or two cards. You might get a credit limit increase if you call one of your lower rate cards and tell them you are transferring a big balance.
That doesn’t mean you need to close accounts you don’t use – just limit the number of cards you are actively charging on. If you have cards you don’t use with annual fees – you should close them right away though.
#5 - LIMIT CREDIT CHECKS
Too many inquiries can hurt your score as well. Remember that kiosk at the mall where they were giving away free t-shirts if you signed up for a credit card? Skip it. Don't fill out those offers in the mail. Don't shop 3 or 4 car dealerships (some of those guys will send your application to 10-12 lenders!! -- Can you imagine 40 inquiries on your credit??!). Only apply for credit when you NEED it.
# 6 - PAY ON TIME
Well, this one is a no-brainer. Obviously your credit score will be better if you pay your bills on time. You need to make sure any credit card, sales contract, or loan is paid by its due date. You are usually offered a grace period before any late fees apply. And as long as the lender has their money before 30 days after your due date, it should not show up on your credit report. You should watch out for the following late payment traps your lender might be setting for you –
Late Fees - These can be as much as $50.00 added to your balance if you are just a few days late. While this does not directly impact your credit report, some lenders will then apply your late payment to the fees first (they are not supposed to do that, but some do). This makes it look like you did not make a full payment and your account will show late.
Shifting Due Dates - While car loans and mortgages have stable due dates, some credit cards are based on a 28 or 30 day cycle. So that payment you paid on the 9th last month is due on the 7th this month.
The Check Is In The Mail - Once you mail a check, you can't know for sure when it will get to your lender. And the postmark does not count. If the bank says your check did not get there until after it was due - what are you going to do about it? I strongly recommend paying online when possible or paying in person (for local lenders).
#7 GET RID OF COLLECTION ACCOUNTS
Oh, the dreaded collection accounts! These are those pesky notices you ignored and thought would not impact your score, but THEY DO! Hospital bills, unpaid utilities, cell phone and more. Now, you could do as you have already done, and leave them unpaid, but the will stay on your report for seven years (or more!) if you don’t pay them.
If the collector is willing to delete the account if paid in full, this will have a good impact on your credit. You do have to take a little effort and make some calls to the collection agencies, but you can get them cleared up. Not all agencies will delete reporting but it is worth the time to ask.
Call your collection agencies and make arrangements to pay off your debt.
Request in writing the agreement to delete the account upon receipt of payment in full.
If the company doesn’t delete accounts, paying them off can actually decrease your score due to date of last activity and current date of payment.
#8 DON’T CLOSE PAID ACCOUNTS
A report by MSN Money says that closing accounts can never help your score; it will often hurt it. Shutting down credit accounts will actually lower the total credit available to you. If you choose to close accounts follow these steps which will aid in improving your credit.
Close only new accounts that have been opened within the last 12-24 months.
Do not close older accounts. Doing so may shorten the length of your credit history, making you seem less worthy.
If you plan on applying for NEW credit in the near future, leave all accounts standing.
Keep balances between 30 and 70% to maintain a healthy score.
#9 LIMIT NEW CREDIT
Although you may think that opening up a new card or store account may help you, it doesn’t; it can actually hurt you. Only open up credit that you need and can use wisely. Limiting new credit is a good way to stay ahead of the game.
Smartmoney.com notes when you have new inquiries and a number of new credit requests, your score will be lowered.
Once that new credit line is secured, the average age of your accounts will shorten, which lowers your score.
Only open accounts that you really need.
#10 FINANCE A VEHICLE
You might think this one is just a setup for the dealership to sell you a car, but you are wrong. Although you should limit new credit when you can, a big ticket item like a mortgage or car loan is absolutely the fastest way to improve your credit score. It shows future lenders that you have the ability to handle a big chunk of credit on a regular basis. There is absolutely NOTHING you can do to improve your credit score faster than financing a vehicle!
WRAPPING IT ALL UP
Well, that is it. No, it is not rocket science and most of this stuff is plain common sense, but with some hard work on your part, a little bit of time and perseverance, you will improve your credit, boost your score and enrich your life.
ABOUT US
Here in Kona there are over 12,000 residents – your friends and neighbors – who have been enthusiastically happy with the car buying experience they received at Pre-Owned Motor Cars (www.hawaiicar.com.)
That’s no coincidence. My team has worked hard to create a car buying experience that is unlike any other. And we are known far and wide as the Credit Experts. Even if you are in the midst of credit issues, if you can answer YES to the following questions, you could be approved today:
Have you been turned down for credit before?
Do you earn $250 per week before taxes?
Are you serious about improving your credit?
That is it – we offer guaranteed financing here through REAL lenders who will help re-establish good credit and restore your good name to creditors everywhere.
75-5721 Kuakini Highway
Right Accross From McDonalds
808-334-1111
www.hawaiicar.com
Email us at allan@hawaiicar.com
But Hard To Solve
Hello, my name is John Caudell and I’m the owner of Pre-Owned Motor Cars in Kailua-Kona, Hawaii. I am sure you have seen our ads or know someone who bought a car from us, so you already know we call ourselves the Credit Experts. And this free report will give you the top 10 ways to improve your credit situation.
Yeah, credit problems are easy to create and hard to solve, but that doesn’t mean it is impossible. You can do it, if you follow these easy ways to boost your credit score and get back on track.
#1 – GET INFORMED
Look, we talk to a lot of people with credit issues they never knew they had. Maybe you didn’t get that bill the hospital sent or maybe you just forgot. So the first thing you need to do is find out what the car dealers and banks already know – what is on your credit report?
And the government has finally made something easy for you – they REQUIRE all three credit reporting agencies to provide a free copy once per year.
If you have access to the internet, go to www.annualcreditreport.com. Make sure you don’t go to “other credit report.com” ( we can't call them by name because of legalities – that is a scam to get you to sign up for a monitoring service.
Around here, most lenders use Equifax. The other two credit reporting agencies are Experian and TransUnion. But start with Equifax. You can get a free copy, right online and look at it and print it.
#2 - DISPUTE INCORRECT INFORMATION
A story by CBS news in 2004 claimed that almost 80% of all credit reports have mistakes. That is 4 out of 5 folks! And if those mistakes are bad enough, they can keep your score down, make your credit card and loan rates higher or even get you turned down!
So what do you do? If you got your credit report online at www.annualcreditreport.com, you can dispute incorrect information there. If not, submit your dispute in writing to the credit reporting agency that sent you your report.
By law, they must verify the information they are reporting as correct. If the "lender" does not respond within 30 days, the credit reporting agency must remove the item and cannot put it back.
#3 - PAY IT DOWN
If you carry balances that are close to your limit on credit cards or loans, your score suffers. Having a small credit card with a $500 limit and $500 owing on it WILL HURT YOUR SCORE. This is another reason new credit often temporarily hurts your score - you have NEW credit and it is at your limit.
Do everything you can to pay down balances, especially on credit cards. You will save money and improve your score!
#4 - PAY IT OFF
Sometimes it sneaks up on you. You go to Lowe's and get 10% off for opening a new account. Oh, and then you can get a great deal on gas at Exxon, so you add another. Before you realize it you have 8-10 credit cards. Now maybe you use them and maybe you don't, but it doesn't matter to the credit gods. They will ding you score for too many open accounts.
Let's face it; you really don't need 8-10 credit cards. Two cards and maybe one more department store card and close the rest. Get those other accounts paid or transfer the balances to one or two cards. You might get a credit limit increase if you call one of your lower rate cards and tell them you are transferring a big balance.
That doesn’t mean you need to close accounts you don’t use – just limit the number of cards you are actively charging on. If you have cards you don’t use with annual fees – you should close them right away though.
#5 - LIMIT CREDIT CHECKS
Too many inquiries can hurt your score as well. Remember that kiosk at the mall where they were giving away free t-shirts if you signed up for a credit card? Skip it. Don't fill out those offers in the mail. Don't shop 3 or 4 car dealerships (some of those guys will send your application to 10-12 lenders!! -- Can you imagine 40 inquiries on your credit??!). Only apply for credit when you NEED it.
# 6 - PAY ON TIME
Well, this one is a no-brainer. Obviously your credit score will be better if you pay your bills on time. You need to make sure any credit card, sales contract, or loan is paid by its due date. You are usually offered a grace period before any late fees apply. And as long as the lender has their money before 30 days after your due date, it should not show up on your credit report. You should watch out for the following late payment traps your lender might be setting for you –
Late Fees - These can be as much as $50.00 added to your balance if you are just a few days late. While this does not directly impact your credit report, some lenders will then apply your late payment to the fees first (they are not supposed to do that, but some do). This makes it look like you did not make a full payment and your account will show late.
Shifting Due Dates - While car loans and mortgages have stable due dates, some credit cards are based on a 28 or 30 day cycle. So that payment you paid on the 9th last month is due on the 7th this month.
The Check Is In The Mail - Once you mail a check, you can't know for sure when it will get to your lender. And the postmark does not count. If the bank says your check did not get there until after it was due - what are you going to do about it? I strongly recommend paying online when possible or paying in person (for local lenders).
#7 GET RID OF COLLECTION ACCOUNTS
Oh, the dreaded collection accounts! These are those pesky notices you ignored and thought would not impact your score, but THEY DO! Hospital bills, unpaid utilities, cell phone and more. Now, you could do as you have already done, and leave them unpaid, but the will stay on your report for seven years (or more!) if you don’t pay them.
If the collector is willing to delete the account if paid in full, this will have a good impact on your credit. You do have to take a little effort and make some calls to the collection agencies, but you can get them cleared up. Not all agencies will delete reporting but it is worth the time to ask.
Call your collection agencies and make arrangements to pay off your debt.
Request in writing the agreement to delete the account upon receipt of payment in full.
If the company doesn’t delete accounts, paying them off can actually decrease your score due to date of last activity and current date of payment.
#8 DON’T CLOSE PAID ACCOUNTS
A report by MSN Money says that closing accounts can never help your score; it will often hurt it. Shutting down credit accounts will actually lower the total credit available to you. If you choose to close accounts follow these steps which will aid in improving your credit.
Close only new accounts that have been opened within the last 12-24 months.
Do not close older accounts. Doing so may shorten the length of your credit history, making you seem less worthy.
If you plan on applying for NEW credit in the near future, leave all accounts standing.
Keep balances between 30 and 70% to maintain a healthy score.
#9 LIMIT NEW CREDIT
Although you may think that opening up a new card or store account may help you, it doesn’t; it can actually hurt you. Only open up credit that you need and can use wisely. Limiting new credit is a good way to stay ahead of the game.
Smartmoney.com notes when you have new inquiries and a number of new credit requests, your score will be lowered.
Once that new credit line is secured, the average age of your accounts will shorten, which lowers your score.
Only open accounts that you really need.
#10 FINANCE A VEHICLE
You might think this one is just a setup for the dealership to sell you a car, but you are wrong. Although you should limit new credit when you can, a big ticket item like a mortgage or car loan is absolutely the fastest way to improve your credit score. It shows future lenders that you have the ability to handle a big chunk of credit on a regular basis. There is absolutely NOTHING you can do to improve your credit score faster than financing a vehicle!
WRAPPING IT ALL UP
Well, that is it. No, it is not rocket science and most of this stuff is plain common sense, but with some hard work on your part, a little bit of time and perseverance, you will improve your credit, boost your score and enrich your life.
ABOUT US
Here in Kona there are over 12,000 residents – your friends and neighbors – who have been enthusiastically happy with the car buying experience they received at Pre-Owned Motor Cars (www.hawaiicar.com.)
That’s no coincidence. My team has worked hard to create a car buying experience that is unlike any other. And we are known far and wide as the Credit Experts. Even if you are in the midst of credit issues, if you can answer YES to the following questions, you could be approved today:
Have you been turned down for credit before?
Do you earn $250 per week before taxes?
Are you serious about improving your credit?
That is it – we offer guaranteed financing here through REAL lenders who will help re-establish good credit and restore your good name to creditors everywhere.
75-5721 Kuakini Highway
Right Accross From McDonalds
808-334-1111
www.hawaiicar.com
Email us at allan@hawaiicar.com
Friday, April 17, 2009
Quote of the Day
"The money I have is in direct proportion to the value I've given to others. The more I give of myself, incredibly, the more economic power comes my way."
Tod Barnhart
Author
Tod Barnhart
Author
Thursday, April 16, 2009
Check Engine Light?
How do I Turn Off the Check Engine Light?
This is a common question. The easy answer is to bring your vehicle to us so we can determine what caused it to light up. But, you want and deserve more information than that, so here is a brief explanation of what that annoying little light means.
It all has to do with vehicle emissions and the monitoring of any system that might affect the stuff coming out of your tailpipe or some other part of your car. The check engine light (CEL) is also referred to as the malfunction indicator light (MIL). It is the most obvious part of your car’s On-Board Diagnostics (OBD), a system required on all vehicles since the mid-1990s. Whatever that little light is called, it often causes some anxious moments.
When the light comes on, it means one of your car’s many sensors has detected a problem, causing the car’s computer to store a diagnostic trouble code (DTC). These codes point to specific systems or components that may have triggered the light. The key word here is “may.” For example, if a DTC points to the oxygen sensor, your first reaction might be to replace it. In fact, the root cause may be something else that is only affecting the oxygen sensor, but is also having a negative effect on your fuel economy.
DTCs can be compared to the names of streets on a map. Once you are on the street, you still have to knock on doors to find the specific house you are looking for.
Automotive technicians use scan tools to start them down the path to finding the source of the DTC. The scanner plugs into a port under the dashboard and displays any DTCs stored in your car’s computer. Now at least the technician is “on the street.” More diagnostic testing will help him or her find the right address and fix the problem. Sometimes, the solution is as simple as a loose gas cap.
If your check engine light comes on, but your car is running fine, we urge you to get it checked anyway. You may not detect any damage being done, but ignoring the light could be expensive. For instance, by continuing to drive you may be damaging your catalytic converter – a very costly repair. Even without other obvious symptoms, your car could be using substantially more fuel. Driving with just a 15% reduction in fuel economy could cost you up to $22.00 per month.*
The original question was, “How do I turn off the check engine light?” The answer remains, “Bring your vehicle to us to determine the cause.” At least now you have a better idea why. Once the vehicle is repaired, your technician will “clear” the DTC(s) from the computer and you can be on your way.
Happy driving!
*Based on an average 12,000 miles per year with a calculated fuel cost of $2.50 per gallon and average fuel economy of 20 mpg.
This is a common question. The easy answer is to bring your vehicle to us so we can determine what caused it to light up. But, you want and deserve more information than that, so here is a brief explanation of what that annoying little light means.
It all has to do with vehicle emissions and the monitoring of any system that might affect the stuff coming out of your tailpipe or some other part of your car. The check engine light (CEL) is also referred to as the malfunction indicator light (MIL). It is the most obvious part of your car’s On-Board Diagnostics (OBD), a system required on all vehicles since the mid-1990s. Whatever that little light is called, it often causes some anxious moments.
When the light comes on, it means one of your car’s many sensors has detected a problem, causing the car’s computer to store a diagnostic trouble code (DTC). These codes point to specific systems or components that may have triggered the light. The key word here is “may.” For example, if a DTC points to the oxygen sensor, your first reaction might be to replace it. In fact, the root cause may be something else that is only affecting the oxygen sensor, but is also having a negative effect on your fuel economy.
DTCs can be compared to the names of streets on a map. Once you are on the street, you still have to knock on doors to find the specific house you are looking for.
Automotive technicians use scan tools to start them down the path to finding the source of the DTC. The scanner plugs into a port under the dashboard and displays any DTCs stored in your car’s computer. Now at least the technician is “on the street.” More diagnostic testing will help him or her find the right address and fix the problem. Sometimes, the solution is as simple as a loose gas cap.
If your check engine light comes on, but your car is running fine, we urge you to get it checked anyway. You may not detect any damage being done, but ignoring the light could be expensive. For instance, by continuing to drive you may be damaging your catalytic converter – a very costly repair. Even without other obvious symptoms, your car could be using substantially more fuel. Driving with just a 15% reduction in fuel economy could cost you up to $22.00 per month.*
The original question was, “How do I turn off the check engine light?” The answer remains, “Bring your vehicle to us to determine the cause.” At least now you have a better idea why. Once the vehicle is repaired, your technician will “clear” the DTC(s) from the computer and you can be on your way.
Happy driving!
*Based on an average 12,000 miles per year with a calculated fuel cost of $2.50 per gallon and average fuel economy of 20 mpg.
Tuesday, April 14, 2009
Quote Of The Day
"Kindness can become its own motive. We are made kind by being kind."
Eric Hoffer
1902-1983, Author and Philosopher
Eric Hoffer
1902-1983, Author and Philosopher
Quote Of The Day
"Kindness can become its own motive. We are made kind by being kind."
Eric Hoffer
1902-1983, Author and Philosopher
Eric Hoffer
1902-1983, Author and Philosopher
Thursday, April 9, 2009
Quote Of The Day
"You are never given a wish without also being given the power to make it come true."
Richard Bach
Writer
Richard Bach
Writer
Friday, April 3, 2009
Quote Of The Day
"A closed mind stumbles over the blessings of life without recognizing them."
-Napoleon Hill
-Napoleon Hill
Subscribe to:
Posts (Atom)
