Credit Building Tips http://line-of-credit.net Sun, 05 Jul 2009 21:32:12 +0000 http://wordpress.org/?v=2.8 en hourly 1 Moving A Credit Balance For Lower Interest http://line-of-credit.net/moving-a-credit-balance-for-lower-interest/ http://line-of-credit.net/moving-a-credit-balance-for-lower-interest/#comments Sun, 05 Jul 2009 21:32:12 +0000 http://line-of-credit.net/?p=10 If you have found that there is a lower interest rate, or none at all to move over a balance from your current credit card, then this can be a great way to save some serious cash. But what you might not know is that it could also hurt you too.

If you have great credit, and are looking at transferring over debt, you might want to rethink again. The easy habit is to continue to move credit card debt from one card to another over and over again before really paying off the card. While no interest is accrued which you will need to pay back, you will find that it can lower your credit score.

If you have plans of moving over a balance of debt to a low interest card or a no interest card for a period of time, make larger payments each month of the money you would have spent on interest with your other card. This will allow you to pay things rather quickly and eliminate your debt faster.

]]> http://line-of-credit.net/moving-a-credit-balance-for-lower-interest/feed/ 0 How To Deal With Boat Insurance http://line-of-credit.net/how-to-deal-with-boat-insurance/ http://line-of-credit.net/how-to-deal-with-boat-insurance/#comments Wed, 24 Jun 2009 00:38:11 +0000 http://line-of-credit.net/?p=8 Just when you thought your were dome sorting out insurance companies your family decided to buy a boat. With that boat owners face the same kind of challenges, homeowners and car owners face with insurance. How do you choose from 100’s of boat insurance companies who all seemingly have the best deal? Perhaps there is not a right or wrong answer to this question. However there is a pattern you should follow for making your own decision.

Most boat owners would choose the price of the premium as the number one priority when choosing insurance companies. To be fair with the economic position most people are in that is understandable. However, consider this, each day boating accidents occur at an alarming rate and often with catastrophic consequences. Filing a claim and getting that claim paid promptly and correctly should be the priority.

Standard and Poor’s has long rated insurance companies and will give a potential consumer a accurate look at the way a company does business. For all practical purposes this is a documented history of the insurance companies business practices and financial stability.

Take the time to research a handful of companies and you will begin to get a clear picture of what a quality insurance company provides versus an inferior organization.

Insurance polices are largely filled with legal terms and disclaimers that make them very difficult to understand. After making a short list of providers it is time to personally interview the agents and ask questions. Creating hypothetical situations and asking questions is the best means of discovering what types of coverage you will have in the event of a claim. Plus you wont have to sort through the legal language of your policy.

As cliché as it might seem, insurance is largely a get what you pay for proposition. Saving a little money now may cost you more money later. Choose wisely

]]> http://line-of-credit.net/how-to-deal-with-boat-insurance/feed/ 0 Make Your Payments On Time http://line-of-credit.net/make-your-payments-on-time/ http://line-of-credit.net/make-your-payments-on-time/#comments Tue, 16 Jun 2009 16:34:32 +0000 http://line-of-credit.net/?p=4 One of the most important things you can do to ensure that over time your credit score improves is to make your payments on time. Obviously this will not only create an excellent record for you to prove you are responsible, but it will also allow you to get lower rates.

The fundamentals of paying credit card bills on time is quite simple. The fact is that planning out how to allot income towards bills in advance before spending money will allow you to make sure that your credit cards are covered.

This also means sending payments out well in advance of their due date. Keep in mind that payments that are 30 days or more past due will definitely show up on your credit report and this will negatively impact your score.

Once you receive these marks, they will stay on your credit score for up to 7 years. So it is a good idea to always make sure you pay your credit card debt on time.

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