Category - Finance

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Bitcoins – a complete review
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How can I increase my credit scores?

Bitcoins – a complete review

People who are into the world of trading would have known about the bitcoins to a greater extent. However, the newbie may have various questions about it. This article is written in order to sort out the queries of the new traders and to guide them in the right way.

Worldwide payment system

The people who want to follow a worldwide payment system can blindly choose bitcoin without any constraint. With the help of bitcoins the payment can be made electronically. But it is to be noted that both the parities in the deal should be interested in this payment. The most important fact which is to be remembered about the bitcoin is this is not centralized. That is it is not controlled by many particular organization. Instead they are maintained by the coders. Hence people who don’t want to keep their money under the control of bank or government can make use of bitcoins without any constraint. The other interesting thing one can earn free bitcoin by making their investment in the right trading platform.

Wallet

The people who are investing on bitcoins can store their bitcoins in the wallet. That is they need not move the banks to store their money instead they can make use of the bitcoin wallets. This wallet can be stored anywhere according to the needs of the users. Some people tend to store this database in their computer, while some prefer to store it in their smart phone. Likewise they can be stored anywhere in the cloud.

Bitcoin investment platform

This will be the best platform for the people who want to find the answer for how to get free bitcoins. By making use of the most transparent platform in the online market, they can earn more numbers of free bitcoins. But it is to be noted that they must make sure to invest their bitcoin in the most reputed source which can provide them better return on investment. Before investing in any platform, their reviews, reputation and other related aspects can be taken into consideration for getting rid of various hassles in future.

How can I increase my credit scores?

Credit score is one of the important factors which determine your financial stability. You should maintain good credit ratings i.e. 700+. Lenders consider your credit and employment history before approving the loan amount. If you have good ratings you can enjoy various benefits like

  • Low interest rates.
  • Negotiating power
  • Attractive mortgage and refinancing rates
  • Gives mental peace
  • can get hefty amounts
  • good deals

Maintaing good credit rating is an overwhelming task. Two important factors where your credit plays major role is

  • While borrowing loans. Creditors review your ratings which reveal your responsibility.
  • Employers may check your credit rating in the screening process.

In today’s economy, never underestimate the value of credit ratings. With the changes in economic crisis, banks are paying much attention towards borrower’s history. No matter what kind of loan you request for, either mortgage, car or credit loan. Your lender first track your credit ratings from any of the  reporting agencies like Trans Union, Equifax, FICO etc. your score will be determined by these agencies based on various factors like income to debt ratio, late payments, missed payments, delinquencies etc. If you’re a person with poor credit score. Don’t be panic. It is you who is responsible for poor ratings. Realise your mistake and follow necessary steps to improve your credit ratings. It is you, who can shape your financial life. Here are a few tips to enhance your credit score

Three important steps which you should follow right now

  • Reviewing credit report: You should check your credit reports periodically. This serves as a basic step in determining your credit score. If you find errors in your report consult your lender immediately. Make sure that all the payment details and amount balance has been entered correctly.
  • Setup payment reminders: Making your payments in time is the ultimate tip for improving your credit score. Recent survey states that 70% of people have poor ratings because of late payments. Most banks provide payment reminders through online banking. Take the advantage of this situation.
  • Reducing the amount of debt: Reducing the amount that you owe is the best technique to follow. Your first gaol is to eliminate too many credit cards. Check your credit statements and interest rates and maintain minimum payments.

Payment history

  • Pay bills on time: Take the advantage of technology. These days you can make your credit payments through mobiles. There are various payment applications like square, PayPal, Doxo etc. which alerts you about upcoming payments.
  • Avoid missed payments: Don’t ignore your p[payments. Missed or late payments usually demands high cost.
  • Seek advice: If you’re unable to manage your credits take the help of financial advisor. Most expert’s advice to take payment protection insurance in connection with loans which helps you to make timely payments in case of unemployment or illness. You can compensate the amount using ppi claims.
  • Don’t close your old accounts: Never close your old accounts. Previous accounts with good credit ratings helps in analysing your credit status and may enhance your credit score.

For any information about credit scores and any other financial problems please contact HMRC helpline.

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