If you're thinking about popping the question, you know you need an engagement ring that symbolizes your love for her. You need a ring that is as beautiful as the woman you want to spend the rest of your life with. In order to get that perfect ring, you may be considering an engagement ring loan. If so, you need the best possible loan to save money on interest and monthly payments. To get a great loan, here are four ways to increase your credit score:
1. Decrease your utilization.
You need to decrease your credit utilization to 30% of your credit limit. This means that if you have a credit limit of $2,000, you should use only about $600. Credit utilization can affect your score by as much as 30%. Be sure to keep your card balances low and pay in full each month. Depending on how often you use your cards, you may need to make multiple payments each month.
2. Pay on time each month.
Late payments can drop a credit score by as much as 100 points. Avoid late payments by setting up automatic monthly payments with all your creditors. Even if you always remember to make payments, do this anyway. Credit cards, student loans, car and mortgage payments can be a lot to keep track of, and you might slip up one month. Also, if you have one or two late payments on your credit report, call the creditors and ask if they will remove this information. Many creditors are willing to forgive one or two slip ups.
3. Handle any loans in default.
If you have any loans in default, write what's called a "pay for delete" letter to your creditors. In a "pay for delete" letter, you ask the creditor to remove all information from your credit report in exchange for payment. With a little negotiation, you may not need to pay in full, but be prepared to do so. Never make an offer if you don't have the money on hand, since the creditor will likely ask that you pay within 30 days to fulfill the agreement. Also, don't send a payment without an agreement, even if you pay in full. Simply paying in full without a "pay for delete" doesn't mean the company has to remove the negative information.
4. Don't apply for more credit.
It can be tempting to apply for more credit cards, especially if your utilization is high and you can't afford to pay your current balance. Don't try to get more credit. Each time you apply for a credit card, the company looks up your credit report, and this inquiry lowers your credit score. Instead, call your current credit card companies and ask for a credit limit increase.
These are four ways you can boost your credit score. Follow these tips, and you will have that gorgeous engagement ring in no time.
Ever since I was a child, I've loved the look of fashion earrings. However, I soon discovered that my ears are sensitive to metal-coated earrings. Rather than spend a small fortune for custom made jewelry, I've found retailers that sell hypoallergenic earrings. These earrings are made for individuals such as myself with sensitivity to metals. Check your high-end department stores or local jeweler. You'll find hypoallergenic earrings in sterling silver, white gold, yellow gold, and platinum. The main thing is to never choose jewelry containing nickle, as this is commonly the culprit. A good alternative to metals listed above is titanium jewelry, as this is considered to be hypoallergenic. Also, avoid using harsh detergents or chemicals to clean your earrings and jewelry, as this may cause further irritation. Mild dish soap may work well, but be sure to rinse your jewelry thoroughly.