Credit Scores – How Do They Work?

Credit scoring is a complicated process and each of the 3 major credit
repositories have their own credit scoring models in place to determine a
borrower’s credit score. The 3 main credit repositories are Equifax, Experian,
and TransUnion. Equifax has credit scores that range from a lowest possible
score of 300 and a highest possible score of 850. Experian has a range of
340-820 and TransUnion 150-934. Just like computers have upgraded operating
systems over the years such as, Windows 98, Windows 2000, and Windows XP, the
credit scoring system versions update periodically also. Not all lenders use the
same version or the most updated version when obtaining a credit report and
credit score for a borrower. Therefore, this is one reason why you may have
varying credit scores between one lender and another.There are five major components or factors that help to determine your credit
score. Roughly 35 percent of your credit score is derived from your payment
history, 30 percent from how much you owe compared to how much you have
available, 15 percent comes from length of credit history, 10 percent from new
credit and recent inquiries, and the final 10 percent comes from various other
items such as the mixture of credit you currently have. Next we will discuss
each of the five components in further detail and explain the basic principals
as to how credit scoring works. This information is to be used only to help
educate and as a guide to assist with the basic ideas involved in credit
scoring.Payment History (35%)Your payment history is the most important factor of credit scoring.
Bankruptcies, collection accounts, slow pays and late payments, foreclosures,
judgments, and liens can negatively affect your credit score. However, an
established history of on-time payments and a clean credit history will
positively impact your credit scores and help to increase them over time. The
older any negative credit history or adverse credit factors are, the less they
will negatively affect your credit score. Therefore, recent late payments or
other derogatory credit will negatively affect your credit much greater than
aged bad credit.Revolving Credit Balances to Maximum Limits (30%)The second biggest factor in credit scoring comes from how you utilize your
revolving credit. The credit scoring models are going to look heavily upon how
much revolving credit you have available compared to how much you have used. For
credit scoring purposes, having all revolving credit or credit card accounts
maxed out to their limits is not a good thing, nor is it going to help better
your credit scores. You don’t want to pay off all of your revolving credit
accounts because that will not show the credit bureaus how well you manage your
credit. Your ideal credit ratios should be roughly 20-40 percent usage. What
this means is that if you have a credit card with a $1000 limit you do not want
to max. out the credit card balance, but you would want to maintain a balance
between 200 and 400 dollars. If you do realize that you have borrowed more than
50% of your available credit limit on your card or your balance is getting close
to your limit, you should either try to pay your balance down to the 40% mark or
call your credit card company and see if they are able to raise your limit. The
biggest mistake you can make is to let your balance exceed your maximum credit
limit. This will negatively affect your credit score a great amount.Length of Credit History (15%)The longer and more established your credit history is, the better and more
positive of an impact it can make. Someone who pays their bills on time for a 10
year period of time is a much better risk than someone who only has a 1 year
history of paying their bills on time, even if they both carry the same credit
score. When you pay off credit card accounts do not close them, keep them open
and use them periodically in order to continue to build an established length of
credit. Closing your accounts can actually have more of a negative affect on
your credit score due to limiting the length of time that particular account was
open for. The longer you have established credit accounts, the better it is for
you. It is possible to still have a good credit score with a short credit
history; however lenders may not approve you for optimal financing options due
to the lack of history still.New Credit and Inquiries (10%)The amount of new credit you have opened, will have somewhat of a minor impact
on your credit scores. If you have numerous inquiries resulting from applying
for a lot of new credit and add many new trade-lines in your credit report, this
can have a damaging effect on your credit score. First, it may negatively affect
your scores because you have a lot of new, un-established accounts. Second, it
can negatively impact your score because you have a lot of inquiries with
various lenders for various types of financing over a short period of time.
Credit inquiries can affect your credit score, not a ton, but enough to lower
your score. This is not to say don’t shop around or don’t have more than one
firm pull your credit when looking to buy a car or a home. You definitely should
use due diligence and shop between a couple of lenders to make sure you are
getting a good deal. When you are comparing quotes however, you should try to do
all of your shopping within a 30 day max. period of time. All inquiries that are
made when applying for an auto loan or a mortgage loan are treated as only one
inquiry when they are done within a 14 day period of time. Therefore if you are
ever told to not have anyone else pull your credit or else your scores will
lower, this has little truth to it. There is only one type of credit inquiry
that counts toward your credit score. That one type of inquiry is when you are
making an application for credit: such as a home loan, auto loan, credit card,
etc… When you pull your own credit, a creditor you already have an account with
pulls your credit, and/or a prospective employer pulls your credit, these do not
have any impact on your scores. Understanding this can help you make sure that
you do not fall victim to all of the urban myths regarding credit inquiries.Types & Mixture of Credit (10%)Having a mixture of the various types of credit will have a small impact on your
credit scores. For a person who has a good mixture of credit such as a home
loan, auto loan, 2-4 credit cards and maybe a personal loan this could be deemed
a good mixture of credit versus a different person who has 15 credit cards and
no other credit. The ideal number of credit cards to maintain is 2-4. Also,
other types of liabilities are important to have, such as installment loans and
a mortgage loan.”Knowledge is power” and the most important step to applying for a loan is to
understand your credit report, your credit scores and how credit scoring works.
It is highly recommended that every person checks their credit report at least
once per year to help protect themselves from inaccurate information and from
identity theft. A new law was recently passed that permits a borrower to have
access to their credit report one time each year for no charge to allow them the
opportunity to review their credit history and verify the accuracy of all items
listed. You are permitted to obtain a credit report from each of the three
credit repositories, TransUnion, Equifax, and Experian. You can obtain your
free report by logging into the annual credit report and following
the directions. When you obtain your free report it will not contain your credit
score, but you can pay a small fee if you would like to find out what your score
is when you are ordering your free report. It is also highly recommended that
you pull a report from each repository individually as opposed to all of them
together so that you can dispute any erroneous information to each bureau
separately. If you report a problem to only one of the bureaus it will not be
fixed among all three of the bureaus. Remember the bureaus are separate of each
other and have no communication amongst each other either. Some creditors report
to only 1 bureau, some report to 2 bureaus, some report to all three bureaus and
some don’t report to any. This is why you must make sure that you check all
three credit repositories when you are utilizing your free annual credit report.
In conclusion, your credit is very important and understanding the basics of how
your credit scores are obtained is equally as important.Credit scoring is a complicated process and each of the 3 major credit
repositories have their own credit scoring models in place to determine a
borrower’s credit score. The 3 main credit repositories are Equifax, Experian,
and TransUnion. Equifax has credit scores that range from a lowest possible
score of 300 and aHere is a quick contact list for the 3 main credit repositories:Equifax Credit Bureau P.O. Box 740241 Atlanta GA 30374-0241 * (800) 685-1111http://www.equifax.comExperian (Formerly TRW Credit Bureau) P.O. Box 949 Allen TX 75013-0949 * (888)
397-3742http://www.experian.comTrans Union Corporation (Credit Bureau) Consumer Disclosure Center P.O. Box 390
Springfield PA 19064-0390 * (800) 916-8800 * (800) 682-7654 * (714) 680-7292http://www.transunion.com

Skin Care Specific For Men Who Want to Look Well-Groomed With Little Fuss

Men’s interest in taking care of their skin is steadily increasing. They are also aware of the importance of using safe natural ingredient products. It is not new for men to want to look well groomed. Now they are seeking healthy products to feed their skin in order to maintain a fresh attractive appeal.Men want a no-fuss, straight forward approach to skin care. They don’t need the pretty bottles or sweet aroma of fragrant lotions and cleansers-men want the basics. Skin care can be tailored specifically to a man’s needs without added synthetic ingredients that are found in many products. Using the purity of nature to enhance the skin’s surface a can makes a healthier skin care routine simple.Men’s skin care needs are specific partly as a result of shaving, which not only irritates the skin, it can leave pores open to invite clogging or blackheads. Therefore methods of cleansing are especially important to a man’s skin care regime.Whether your skin tends to be oily or dry and sensitive it requires care that will encourage it toward balance. Working with natural ingredient products that are formulated to assist the skin to find its proper balance will bring the desired results of smooth, fresh attractive looking skin.Simple Steps to healthy looking attractive skin:Step 1: CleansingCleansing for men needs to be gentle, even soothing, yet cleanse deep. This can be accomplished with a clay or cream cleanser that caters to Men’s skin care needs – irritation, large pores, oily or dry-sensitive skin. Synthetic chemicals are harsh on the skin. They can strip and irritate your skin or cause clogged pores.Scrubs can be cleansers that gently exfoliate. A scrub removes dry dead skin cells encouraging the development of new healthy skin cells. This also minimizes fine lines. The result is a smooth healthy looking skin surface. Be careful of rough scrubs as they can irritate and damage the skin’s surface. (recommended use is 2 times per week)Mud Masks are effective for deep cleansing and toning of skin’s surface and pores. A quality Dead Sea Mud Mask will replenish valuable mineral nutrients to the skin while removing impurities. It can help prevent ingrown hairs and blackheads from forming. (recommended use is 1- 2 times per week, depending on your individual skin)
The harsh effect of shaving can leave the skin with a dull appearance. A facial scrub or mask used as a gentle exfoliating product will bring a smooth toned healthy appearance to your skin.Step 2: ShaveShaving Cream Shaving can irritate the skin, cause bumps and enlarged pores which can lead to clogged pores or black heads. Always cleanse your face well with steamy water before you shave, and go with the grain. Shaving creams that are made with nature’s ingredients can be formulated to sooth and condition the skin while you shave. They should be made without toxic foaming agents and other harsh synthetic chemicals that can cause irritation.
After Shave – Toner – After shaving it is good to apply an After Shave Toner to soothe irritations from shaving. This is a final aspect of cleansing as well as a primary aspect of hydrating and toning the pores. Note: avoid alcohol- based aftershaves, they will irritate your skin.Step 3: MoisturizeMoisturizers for Men – A quality moisturizer cream should be light on the skin yet rich with replenishing skin care ingredients that also hydrate and protect the skin. Properly selected botanical extracts and essential oils will provide excellent healthy skin care benefits. These ingredients do not have overpowering scents that linger. They are gentle to the skin and subtle to the nose. Moisturizer creams that are made with plant extracts only, will have no scent for those who prefer products that have no aroma.Eye Cream – The area around the eyes tends to show signs of aging, appearing dry, devitalized and wrinkled sooner than the rest of the face. Therefore caring for the area around the eyes can make the most significant improvement in appearance, keeping you looking fresh, healthy and attractive. The eye area has the most sensitive skin. It is essential to use a quality eye cream that is free of harmful synthetic ingredients.Specific concerns:dark circles – under the eyes can make you look tired, devitalized or older. Although this is more likely related to nutrition, digestion or stress, there are safe plant ingredients that can blended in eye creams to help dissipate the dark circles.aging skin – may appear dry with fine or deep wrinkles and lacking good tone and elasticity. The key to restoring your skin’s appearance is care with products that will replenish and revitalize your skin. The 3 simple steps that have been outlined above are designed for this purpose.dry- sensitive – often feels tight and can flake. Should not be treated with harsh cleansers, harsh exfoliates or astringent products, as frequent use of such products will interfere with the skin’s natural oils that are essential to healthy skin. Basic care with soothing, replenishing and balancing (1) cleanser, (2) after shave toner and (3) moisturizer will restore your skin to its proper health and balance.oily skin – typically shiny, greasy, may have visible pores and be acne-prone. It is important to use a mild yet effective facial cleanser. Many cleansers are harsh and strip your skin of its natural oils. This dries the skin which in turn causes increased oil production.combination skin – characterized by an oily T-zone, forehead, nose and chin while other areas are normal or dry. Balancing and conditioning the skin is the essential focus for this skin type. Basic care with soothing replenishing and balancing (1) cleanser, (2) after shave toner and (2) moisturizer will restore your skin to its proper health and balance.breakout prone – Besides keeping oil production in check it is important to keep your pores toned (tight) to prevent trapping oil and dirt. A quality Dead Sea Mud mask can be effective for toning enlarged pores. It will also cleanse deep, it is without drying, and condition the skin leaving it smooth and revitalized.blackheads – Ask Eve to send you her blackhead removal process. Follow this up with regular dead sea mud masks to keep your pores toned to help prevent new blackheads from forming.The beauty of working with nature’s plants is that when chosen properly specific plants have an extensive range of benefits. It is as likely for one plant to assist dry skin as it is to assist oily skin to find its proper balance while at the same time be beneficial for normal skin. Additionally, a plant that is known for its sebum balancing properties may also specialize in toning, softening or improving the circulation of the skin. As unusual as this may seem, this is just one of the many advantages of working with plant ingredients.

What is E-Commerce?

E-commerce is essentially doing any method business electronically. One thing to keep in mind though, E-commerce is not only about technology–it is about your business. The industry has grown to become quite an important part of all businesses today, and is absolutely the future of shopping. This method is preferred to many business owners because it reduces the cost of doing business. The reason for this? Electronic transactions, electronic searches, cheaper advertising…the list goes on. In a simply put definition, e-commerce is the “practice of buying and selling products and/or services over the internet” (electronically-thus the word e-commerce). It is one of the fastest growing industries in today’s modern world of business.E-commerce can be a fully integrated solution or a technical “front-end” to a business that otherwise isn’t wired. You can advertise for your offline store online and drive traffic to it, or you can offer your customers to purchase from your store online. Today, millions of businesses are linked online and it has proved to be very beneficial financially.Take these statistics: 57% of consumers are likely to take action based on the information from a brand representative, and 62% of consumers have indicated that information from a brand representative would be more valuable than advertisements or promotional materials. Shoppers can visit the Web site at their convenience to find the information they need to purchase a product. An e-commerce web site can actually provide a way through which these shoppers can research a purchase. Once the shopper or client has completed the buying process and is ready to pay, the Web site proceeds to request the customers personal information, such as his name, address, phone number and credit card number. These days the biggest challenge for data-driven organizations is the management of secure information from the inside out. Many people don’t want to give out any credit or personal information over the web. This can be addressed by installing a VeriSign Secure Server ID on your server, so you can securely collect sensitive information on-line. By doing this, it may increase business by giving your customers confidence that their transactions online are safe. When a customer makes a purchase, the company receives the information through the e-mail or by fax. Customers will submit information via the Web only if they are confident that their personal information, such as credit card number or financial data is secure.When starting your own e-commerce business you must consider all aspects, including but not limited to the planning of your website, design and implementation, ISP evaluation, security measures, enterprise/customer interaction suite, accounting/business management software and marketing. If you’re looking to make money online and start your own business, e-commerce is one of the greatest ways to do so. Just make sure to educate yourself in all areas of setting up and running your business.
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