The entrepreneurial spirit is often difficult to define let alone examine in detail because of its perception as a highly creative and dynamic entity and it is with this caveat that this article is written.

Whilst the entrepreneurial spirit can be applied to a wide range of disciplines and professionals it is perhaps most closely associated with the world of business and incorrectly used to describe many successful business people, when in fact very few individuals can truly demonstrate an entrepreneurial spirit.

Historical Context of the meaning of entrepreneur

The word itself is French in origin and if interpreted in its literal context means “between jobs”. It is interesting that a word that has come to project the very pinnacle of success should have such mundane roots as a means of describing being unemployed.

This article examines a number of concepts that appear intrinsic to what constitutes entrepreneurial spirit

1. Uniqueness

In a highly developed global business community where new ideas and business models are increasingly in short supply the importance of uniqueness cannot be under estimated and those exhibiting an entrepreneurial spirit are often associated with concepts that encapsulate originality and ingenuity. Take for example, Steve Jobs bringing the Apple IPOD to the market,

2. Creativity

Creativity is heavily connected to uniqueness but the two are not identical. Individuals with an entrepreneurial spirit are experienced at harnessing the creative process to help them produce a unique product /service or advantage. So where as uniqueness describes the end outcome, creativity describes the process of how one achieves it. For this reason those with an entrepreneurial spirit are often creative individuals who are ready, willing and able to actively adopt new techniques to get ahead even at the expense of being ridiculed by others.

3. Risk Taking

In a western society that is so often risk averse, those with entrepreneurial spirit embrace risk taking and it is impossible for such a concept not to be associated with entrepreneurs and the often high risk potential involved in following a new cutting edge approach. It must be observed however that risk is not the same as recklessness and those demonstrating an entrepreneurial spirit are likely to be adept at assessing the risks involved in any undertaking.

4. Business Savy

As highlighted previously those with entrepreneurial spirit should not be considered as reckless mavericks indeed quite the opposite, good entrepreneurs are motivated by profit and are skilled at identifying a lucrative niche in the market that can be exploited for profit. Take for example, Steve Jobs at Apple Computers who has successfully navigated a profitable course in the computing and software industry despite the market being dominated by Microsoft and IBM for a number of decades. In addition he was the first to spot the potential of utilising the computing industry to open a new market to the music fraternity , with the introduction of the IPOD, the market leader in its business stream. Such actions requires great skill and confidence and demonstrate a clear entrepreneurial spirit.

5. Developing Potential

Identifying, Investing in and nurturing potential are also essential to the ideals attached associated with entrepreneurial spirit because of the need to find differing solutions to a business problem.

Established businesses often fail to discover breakthroughs because they stick to a rigid investment formula that has worked for them in the past rather than finding new ways of moving forward.

6. Adaptability

The entrepreneurial spirit is always adaptable and ready to overcome barriers presented by business problems and is usually quicker at resolving those issues than mainstream business thinkers.

7. Ultimately Destructive

Entrepreneurial spirit is ultimately destructive to its own business in the medium term unless those engaged in utilizing the concept recognize when it is time to handover to mainstream management focussed individuals who can maintain and develop the organisation. This is because true entrepreneurial spirit is obsessed with constant creativity and change which is unsettling to employees without good management and a clear direction. Many of those demonstrating entrepreneurial spirit rarely stay long term in any enterprise they undertake, take Richard Branson for example who after launching numerous businesses under the “Virgin” brand has subsequently sold on many of these to third parties at a huge profit to himself.

Summary

In conclusion whilst there are certainly key characteristics which encapsulate the entrepreneurial spirit it would be foolish to pretend that any one individual has all those traits and even more foolish to believe that such a concept can be comprehensively defined. It is also short sighted to believe that those with entrepreneurial spirit are only evident in the business community, indeed many different disciplines and vocations have historical and existing individuals contained within them that could be essentially described as entrepreneurs.

Well Known individuals exhibiting the entrepreneurial spirit : Richard Branson, Clive Sinclair, Freddy Laker, Steve Jobs, Bill Gates and Anita Roddick.

Words often used to describe individuals with entrepreneurial spirit : Mavericks, Tycoons, pathological liars, risk takers, self made business people, successful, charismatic.

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If you need some help with your finances, a secured loan could be a good choice should be beneficial for your requirements. Some people do apply for the secured loan for the sole reason of improving their credit rating. There are usually no restrictions on how the loan is used and this is a viable option to pursue if you are in need of credit repair. You can possibly improve your credit rating by simply making the payments on time and repaying the loan with no problems.

An unsecured loan is much harder to obtain than a secured loan is. You will most likely not be able to obtain an unsecured loan if you have bad credit or a poor credit history. Unsecured loans are granted solely on your present credit history while the homeowner loans require some sort of collateral to assure the lender of payment. When personal property such as cars, houses, boats, or other high dollar items are used to secure a loan, the borrower has more at risk to lose if the loan falls into default.

You are doing yourself a great favor when you pay off your secured loan without any problems; you will possibly be regaining not only a more favorable credit rating but also more personal faith in your abilities to handle your finances. This should be enough incentive to do your best to repay in a timely manner and retrieve your property from risk of loss. When you live up to the promises involved with a secured loan the lender will be more likely to want your repeat business.

Most loan experts will take your employment status and your total income into consideration but your credit rating may still be the major factor which determines your loan approval. When the interest rate on the loan is established, the main point of consideration is the credit rating. A higher rate of interest is charged when you have a poor credit history.

The services of a loan specialist broker may be of assistance when you want to obtain a credit repair secured loan. The loan specialist will help you examine each part of a possible selection of loan quotes and assist you in choosing the one that will suit your circumstances best. The internet has many online loan specialists who can assist you in your search for the right secured loan quote. You will hopefully find the one who offers the best and least expensive option for the borrower.

There may be other loan specialist brokers in your local vicinity and you may want to call on them in person. A more direct confrontation could be what you prefer when you are trying to borrow money.

Using a loan of any type to help repair your credit rating may seem a little odd, because you are actually borrowing more money to cover your mishandling of past finances. To leave a bad credit history behind you, a secured loan could be a good first step toward your goal.

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You can have a secure online access to your Discover card account through Discover card account login. The account center through which you access your account is secured by the highest Internet security Secure Sockets Layer (SSL) encryption. Your information is safe through this enhanced security. It makes it impossible for anyone to access your account, unless you have inadvertently, or otherwise, disclosed your account login information to others.

 

Before you can login into your Discover account you need to register for online access. It is quite easy and fast, and once you have registered and logged in you can have access to improved management of your Discover account. You can receive your up-to-date account summary; access and review your statements and other activities up to the last 24 months; and make payments online, among other activities.

 

Once you login you can locate your account transactions, graphically analyze your spending pattern and track other activities. You save time when you login into your account online and use many of the online features available to you. Through financial tools, such as the recently introduced Spend Analyzer, you compare your spending patterns. You can graphically see how and where you are spending and your purchases are organized into broad categories. The Paydown Planner assists you in paying down the balance on your Discover card, and within a specific time frame. In addition, through the Purchase Planner you can plan your subsequent purchases as it helps you understand how your monthly payment could be affected by some large purchase.

 

Login For Customer Services

 

Through Discover card account login you can access its customer service for any information or query you may have. You can access your card account, learn about the rewards programs offered – such as the 5% Cashback Bonus program, make payments and transfers online, learn about your account activity and obtain account statements, among other information. Rest assured, your personal information and information about your account activities are safe and secure. The secure login protects the statements issued to you online, notifies you if there are any unusual activities involving your account, and if you are shopping online your real account number is never revealed.

 

You are allowed access to your account only after you provide certain information on logging in, such as your user ID or account number and the password which is known only to you. If either is incorrect you get The User ID and/or Password does not match our records or you are not registered message.  

 

As of January 2009, Discover cardholders can access their account through their mobile phones. Through mobile access you can make payments and view pending payments, view your transactions, view your rewards activities, etc. With your mobile phone always next to you, you can now have your Discover account information practically at your finger tips!

 

You can access your Discover account via your telephone, through Internet on your laptop, and now through your mobile phone. All you need is to login into your Discover account.

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Strapped for cash, with no one to borrow from? You needn’t be embarrassed; ask for payday loans for savings accounts. Many people need emergency cash not because they cannot manage their funds but often unforeseen events arise when payday is still weeks away. Things such as cars break down at unusual times, urgent travel comes up, and kids have a hundred needs are not to be delayed. Payday loans for savings accounts are the answer to all your worries.

Almost Everyone is Eligible

Payday loans are cash advances with the loan period between two and four weeks. Cash through payday loans can be deposited into your savings account within hours once you are approved. The requirements are simple. Generally, payday loan lenders require you to have a minimum salary of $1000 per month regularly for the past three months. You should be over 18 years of age, and you should be a United States citizen. If you fulfill the above criteria, they are least bothered about why you need the money and what your credit history is.

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Do you have access to the Internet? Then you are just a few clicks away from getting cash! You simply need to fill out simple and easy forms. You will need to provide the lender with some personal information. You can read their privacy policy, which safeguards your personal information with them. They do not share it. It is secure and confidential. Once the information is sent across to the lender, they will do verification and approve your loan via an e-mail confirmation in a matter of a few minutes.

As everything is processed electronically, no faxing is required at all. No paperwork will need to be faxed that makes the whole process a lot easier. Some lenders may use teletrack to cross check your credit history, others may simply ring you or your employer to ensure that your details are correct. The loaned amount can vary from $100 to $1000. It can be more for customers who have a long association with a particular lender. The cash is usually wired to your savings account overnight.

The annual percentage rate is mentioned clearly on the lender’s website, as per state directive. In regards to the repayment, some lenders may give you several repayment options; you can pay them by cash or postdated check, which will go for clearance on the next payday. Another option is to give them authorization to take the payment from your bank account on the due date automatically. You also have an option to ask them for a rollover to the next payday, on payment of a fee.

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You can borrow up to $3000 with a guaranteed high risk personal loan today, from the comfort of your own home using a simple bad credit ok secure application. Getting the money you need fast is easy with the available $3000 high risk guaranteed personal loan programs that are available to those that act now. These loan programs make getting the money you need fast and painless regardless of your past credit rating.

Borrow up to $3000 Today

High risk guaranteed personal loans can and do approve loan amounts up to $3000 every day, lending thousands of dollars to people just like you, reliable, honest people who have had financial trouble but deserve a second chance. There are plenty of reasons that you may need to get money fast with a guaranteed high risk personal loan, the most common reasons include a short term emergency, expensive necessary repairs, unexpected expenses, judgements, or medical expenses. Some costs just cannot wait and when you need money fast it is important to know that you can qualify for the fast payout flexible high risk personal loan programs. In some cases you can have up to $3000 deposited directly into your checking account today.

Simple and Secure Online Application

Your new high risk guaranteed personal loan is not only easy to qualify for, the application process for approval is designed for your convenience. You will fill out a secure online application in which you detail the specifics of your financial need, for example, how much you wish to borrow, and your personal information. Upon your approval, your new personal loan lender will hold the equivalent of a post dated check that they will deposit upon your next payday. You will get your $3000 personal loan and the lender will automatically be paid back following the terms of your agreement on your next payday. The process is simple, and painless.

Near 100% of People Approved, Get your Cash Today

These high risk guaranteed personal loans have an almost 100% approval rating of new loan applicants. You will be required to have current employment to show a means of repayment of your borrowed money, and a valid checking account for more than 1 month, that will allow them to wire your money direct. If you derive your income not from a job, but from social security retirement checks, child support payments, or other consistent sources, you still qualify in most cases for the high risk guaranteed personal loan program. You will simply need to provide proof to your lender in the form of a statement from your benefits issuer.

Depending on your personal situation, you might also be required to present a valid drivers license or government identification card for your application. Lenders of guaranteed high risk personal loans also often ask for personal references that they can contact if you are unattainable during your loan period, so it is best to prepare for this as well.

When applying for your high risk guaranteed personal loan you can submit the required documents via fax. Scanned documents are also accepted by some personal loan lenders. Upon approval, you can have your cash deposited directly into your checking account, within minutes, try it today.

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When consumers contemplate the option of bankruptcy generally, the remedy they are specifically referring to is chapter 7 bankruptcy. The effect of the filing is to discharge someone saddled with debt from having to pay debts no longer secured with a valid lien. It also has the added benefit of serving as a court order to creditors (or their collection agencies) to stop hassling you through telephone calls, letters, and personal contact in an effort to get you to pay the debt. But what, in effect, does that mean for you the borrower?

Chapter 7

Filing for chapter 7 bankruptcy does not mean that immediately all of your debts are eliminated in their entirety. Rather, secured debt must be still be dealt with. It does mean, however, that commonly unsecured debts like credit card bills and medical expenses do not have to be paid back. But getting off the hook here does not come without costs. Rather, filing chapter 7 often means the necessary liquidation (selling off) of most of your personal property. While there are limitations to what can be confiscated by creditors, (such as your home under the homestead protection), expect that creditors will sell off most of your valued possessions to pay part of your debts to them. In addition, your credit rating will be devastated by this filing. In filing chapter 7 bankruptcy, you have essentially proclaimed to the world that you are no longer worthy to be trusted with future credit. That plays out practically insofar as it becomes virtually impossible to get a mortgage for a new home, a car loan, a credit card, and even limits very small forms of credit like appliance financing and at times payday loans. Because of the many drawbacks of filing for chapter 7 bankruptcy, many individuals in need of debt relief look for other options.

Chapter 13

One such option is chapter 13 bankruptcy. Chapter 13 filing means quite simply that you are restructuring your debt by negotiating with your creditors and establishing a plan to pay them off over the course of three to five years. So, this is a formal declaration that you will and have worked with creditors so that they will get their money, only at a slightly slower rate than they might have wanted. By promising to pay off your debts, you are allowed to keep valuable personal property such as your home and car. In a similar way, taking this step can limit some of the damage to your credit score that is incurred with filing for Chapter 7 as opposed to Chapter 13. Typically the arrangement reached with creditors is to have you pay your regular monthly payments, plus an additional amount that over time allows you to get caught up on your payments over time.

There are both benefits and costs to whichever bankruptcy approach you decide to take. On the one hand, filing Chapter 7 offers you the freedom to be rid of the heavy debt that is currently hanging over you, while Chapter 13 offers you only the chance to restructure that debt to be more manageable. But on the other hand, filing Chapter 7 also means the liquidation of almost all your valuables as well as the total devastation to your credit rating, whereas filing Chapter 13 allows you to keep many of your possessions while keeping your credit score intact.

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A Wells Fargo loan modification is easier now for distressed borrowers with the Obama federal plan.  This government loan workout offers the opportunity for millions of homeowners to reduce their interest rate and achieve a low affordable monthly mortgage payment.  Do you know how to apply for a Wells Fargo loan workout using this plan?

Even if you have already applied for a Wells Fargo loan modification and been turned down, or are still awaiting your answer, you can ask to be considered for the Obama federal government plan.  The approval guidelines are strict, but if you know a little bit about how to complete your paperwork properly, you could have a good chance of getting:

Your interest rate reduced to as low as 2%
The loan term extended to 40 years
A portion of your principal balance deferred

Some or all of the above options are available to qualified borrowers to arrive at a new, modified payment that equals 31% of your gross monthly income.  A Wells Fargo loan modification using the Obama government plan offers the same options to all borrowers and there is no negotiating needed-either you qualify or you don’t.  Once you learn a few simple tips to make sure you complete your loan modification application forms properly, you can work directly with the bank to get the new loan you need.

This federally subsidized program has been expanded to include second loans as well.  Homeowners who have lost a significant amount of equity due to the housing downturn can apply for a reduction in interest rate to as low as 1%.  Another option of this program provides an incentive for the bank to retire the second lien altogether by reimbursing the bank a percentage of the forgiven debt.  Ifyou have a second loan, make sure you inquire about this part of the plan.

The Treasury Department has warned homeowners against paying anyone to apply for this plan, stating that free counseling is available through the HUD website.  The counseling centers explain what programs are available, but they do not help you complete your application.  So this does mean however, that you can just throw your paperwork together and hope for approval.  Successful borrowers will have taken a few hours to learn what they need to know to prepare their application so that it will fly through the approval process.

If you are serious about getting a Wells Fargo loan modification, make sure you are prepared and have some upfront information about how to get approved.  It’s not difficult to learn enough about the process to greatly increase your chances of success.  Help is available if you know how to get it-make sure you have done everything you can to save your families home.

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Bad credit loans from credit unions assist people who do not want to get stuck with bad credit on their credit files. A clean file is surely the way go to. That is why people who have bad credit find many ways to clean up the mess and get on with their normal lives.

Credit unions are financial institutions that have been formed so as to provide assistance regarding financial matters. Most of them are in the business of helping out rather than gaining profit. And through providing and offering bad credit loans, among the many other services they provide, they are able to assist people one way or the other.

According to a couple of studies done by various organizations, credit unions have been constantly lending a hand to people who are trying to work their way up and clean their financial records as they go along. These credit unions are providing more assistance and more bad credit loans to people who have lower incomes.

Of course, each of the programs has its own set of requirements and specifications. Each has been designed and carefully thought out so as to fit the needs of their clients. There are requirements that one should qualify for, though. The rates are usually much lower compared to other sources of bad credit loans. Repaying the loan is usually planned so as to give the person the chance to be able to pay and at the same time balance the money on hand.

If you are interested in applying for a bad credit loan from a credit union, try to go over each program that the various credit unions offer. You can check and compare which loan will better suit your financial status as well as your ability to pay.

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Owner financing, occurs when the seller of a home finances all or a portion the sale of his or her own property. This is often referred to in real estate ads as “Owner Will Carry” or similar wording, meaning that the owner of the property will, in effect, act as a bank and loan the purchaser all or part of the money needed to purchase the owner’s property.

There can be several advantages to the seller for carrying a note, as it is also known. There can be tax advantages in spreading out the time over which an owner receives the money from the sale of a property. Also, many owners simply like the idea that they can receive a monthly income from a property even after they have sold it – and no longer have to worry about repairing leaky roofs or replacing dead water heaters.

There is a nice monetary inducement to the owner to carry paper as well – the owner can charge the buyer interest on the money that the owner is lending to the buyer. In this way not only does the owner collect a monthly mortgage payment on the property he or she has sold, but the owner collects interest as well, in effect increasing the owner’s overall sales price of the property.

In order to protect themselves, some homeowners require that the buyer make their monthly payments into an escrow account held by a bank or other lending institution, and they require the borrower to place a Quit Claim Deed into the escrow account with instructions that if a payment is late by a certain number of days then the escrow officer will automatically file the Quit Claim Deed, restoring the house to the former owner instantly.

If this were to happen the buyer would not only lose title to the property but would also lose any and all payments already made on the property. This is a powerful incentive for the buyer to make all payments in a timely manner.

A more pragmatic reason, perhaps, why some homeowners agree to carry a note is to increase the universe of potential purchasers for their property. The way this works is easy to understand. If the homeowner is making a portion of the loan on the property then the borrower will need to qualify for a smaller loan from a bank or other financial institution, meaning that a larger number of people will be able to qualify for any bank loan that might be required to purchase the property. If the seller finances the entire selling price of the property then buyers do not need to qualify for a bank or other financial institution loan at all. This can greatly increase the number of people who are interested in buying a piece of property.

For starters if the owner is financing all of a sale then a borrower does not have to qualify for a loan at a traditional financial institution. Even if the seller only finances a portion of the loan the borrower benefits by having to qualify for a smaller loan from a traditional mortgage source.

Additionally, when a seller finances a property there are no points or closing costs for the buyer to pay, saving the buyer potentially several thousand dollars on the transaction. And while the seller of the property may charge the same interest rate that a bank or other financial institution would charge, it is sometimes possible for a buyer to actually end up paying a slightly lower interest rate if the seller finances the sale since more aspects of the sale are open to negotiation than may be possible when dealing with a traditional lender.

Many factors can influence whether the seller of a property is willing to carry all or a portion of the sales price on a piece of property. In many cases, however, the determining factor is the overall condition of the market itself.

When homes become difficult to sell – when it is a buyer’s market, in other words – then sellers are more inclined to do whatever is necessary to increase their chances of a sales and so owner financing is more readily available.

Conversely, when homes are selling quickly and it is a seller’s market, then sellers have little incentive to carry back a mortgage.

So your chances of finding an owner willing to carry back a mortgage are largely dependent on the current housing market. But regardless of prevailing market conditions, it never hurts to ask if an owner is willing to carry paper.

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1. Deleting Errors in 48 Hours

This is the absolute fastest way to correct errors on your credit

report and raise your credit score. However, it can only be done

through a mortgage company or a bank. If you apply for a home

loan and find errors on your credit report, request the loan

officer to conduct a Rapid Rescore. But don’t mistake it for the

credit clinic tactic of multiple dispute letters.

The Rapid Rescore strategy requires proper paperwork. You need

proof that the item is incorrect. It must come from the creditor

directly. For example, a letter stating the account is not your

account, a letter stating the account was paid satisfactorily,

a release of lien, a satisfaction of judgment, a bankruptcy

discharge, a letter for deletion of collection account or any

relevant evidence.

This is the same documentation a bank or mortgage company would

require for the credit accounts anyways. The difference is, now

you can improve your credit score and receive a lower interest

rate. The results are not guaranteed and will run you about $50

per account.

2. Deleting Negative Credit

This is the infamous area where you’ve heard of all the scams.

Credit repair clinics charge “an arm and a leg” and promise a

clean credit report. Sometimes even a new credit profile! People

spending hundreds, or even thousands, of dollars for something

they can do themselves.

Removing errors is simple. Deleting negative credit that is

accurate requires advanced methods. But that is not the scope

of this report. So I’ll focus on the deleting the negative

errors.

Credit report errors easily disappear by using a simple dispute

letter. If you have the paperwork proving the error as mentioned

above in Rapid Rescore, send copies of that along with the

dispute letter. This will make the credit bureau’s job easier and

you will get faster results.

If you don’t have the documentation to prove the error(s), send

the dispute letter anyway. According to federal law, the credit

bureau’s have a “reasonable time” to validate your claim. They

will contact the creditor for verification of your dispute. Then

the account will be reported accurately – or deleted. It has been

generally accepted the “reasonable time” to complete this task is

30 days.

If you’re not the do-it-yourself kind of person. Or don’t have

the time. You could hire someone who is very economical.

3. PiggyBack Someone’s Credit

This is a fast and great little credit score booster. But it

requires a very trusting relationship. Simply put, someone else

adds you to their credit account. For example, when applying for

a credit card, you may have seen the section to add a card holder.

If your trusting person adds you, their payment history is now

reported on your credit report too. If they have perfect credit,

now you have a perfect account.

To make this more effective, use an aged account. Imagine if your

trusted person has a 10 year old credit card account with a

perfect payment history and a balance of only 50% of the credit

limit. Wouldn’t you love to have this on your credit report? The

easy part is your trusted person just calls the credit card

company and requests a form to add a cardholder. Once completed

and activated, their entire account history and future is now

firmly planted on your account. Imagine if you secured 3-5 of

these accounts – especially installment accounts. Your credit

score could sky-rocket!

The challenging part? Finding the trusted person. Since you already

have a low credit score and bad credit, how eager will someone be

to make you a cardholder? Even your parents don’t want you to

damage their credit. But, no one says you need to possess the card!

In other words, your trusted person could add you as a card holder

and never give you the card or PIN or any information. Since the

bills and all account information is still mailed to the trusted

person’s address, you won’t know anything about the account. This

scenario could land you many trusted persons. And you still benefit

with a higher credit score.

4. Playing Round Robin

This strategy is one of the oldest credit building techniques

around. It used to be accomplished with secured savings accounts.

But now, it’s much easier with secured credit cards. In fact,

I’ve used this method myself.

Here’s how it works: Take ,000 (or what you can afford) and get

a secured credit card. Once received, get a cash advance of 70%

of your credit limit. Get a second secured credit card. Once

received, get a cash advance of 70% of your credit limit. Get a

third secured credit card. Once received, get a cash advance of

70% of your credit limit.

Open a new checking account with the final cash advance. Use this

account only for making payments on your three new credit cards.

If you make your payments on time every month, your credit score

will increase because you now have three new perfect payment

credit cards. (Initially, your credit score might drop a few

points due to the rapid, multiple accounts being opened. However,

be patient because within 4 months of no new accounts or any

delinquencies of any account, you will see your credit score

increase. Mine increased 60 points in 60 days!!)

5. Pay on Time

This one is quite obvious. But after 12.5 years in the mortgage

business, I discovered it still needs repeating. Your creditors

were gracious enough to loan you money. Now pay your damn bills!

If you don’t, your credit score decreases. EVEN IF ONLY 30 DAYS

LATE!

That’s right folks. For some reason people think, “I’m only a

few weeks late. What’s the big deal?” Well, for the loan company,

if you pay late but consistent, they make a lot more money with

late fees and more interest (if a simple interest loan). For you,

your credit score is damaged. If you think long-term and credit

score, I’m certain you would not have a cavalier attitude.

6. Pay Down Debts

This seems like an obvious method, doesn’t it? But it is not as

transparent as you might think. Remember, we’re playing with

high-level statistics and probabilities which evaluates and

forecasts trends in your behavior. Here’s what you do…

Never pay off your revolving debt in it’s entirety! Isn’t that a

surprise? Think about it. Your credit score is a reflection of

your ability to manage your credit. Paying off your debt is not

managing your debt. If you have a zero balance, how can you manage

it? You don’t. It no longer exists. And you cannot manage what

does not exist, right? Therefore, in terms of credit score, you

have demonstrated your ability to swiftly pay off accounts to

avoid managing them. Thus, slightly decreasing your credit score.

One exception, of course, is if you’re over extended to begin

with. Pay off what’s necessary to make your credit profile look

great. Then manage the remaining credit.

7. Don’t Close Accounts

Even if you pay off revolving debts, do not close the account.

The longer an account is open with no negative reports, the

better it reflects in your overall credit score. This is due to

the weighted-average in the credit score formula. Many credit

experts suggest a balance of 30% of your credit limit. That’s

ideal. But you can go as high as 70% and still maintain a

healthy credit score.

8. No New Credit

You must be vigilant in your credit behavior if you want the best

credit score. Therefore, do not get any new credit unless it is

absolutely necessary. Each time you apply for credit, an inquiry

is added to your report. This usually drops your credit score

slightly. When you have fresh credit, there is no track record

how you will manage (or pay) this account. Therefore, it’s a

higher risk which results in a minor drop in your credit score.

Remember, your credit score is about risk assessment.

Here’s what you do: obtain credit for your housing, transportation,

college or continued education and 3-5 credit cards. That’s really

all you need for personal credit. If you want more credit, request

a credit limit increase on your current cards rather than apply

for new ones.

9. Maintain A Mix of Credit Types

If you show you can handle different types of credit at the same

time, you are rewarded with a great credit score. In other words,

get installment loans like vehicle, personal loan or mortgage.

Get revolving credit like credit cards: Visa, Mastercard, Sears,

Sunoco Gas, Costco. By mixing it up, you demonstrate you can

manage your credit because you will have short term and long term

credit with a fixed payment. As well as a “variable” monthly

payment on your credit cards.

Keep these accounts open with a balance of 70% or less and paid

on time and you will witness your credit score climb to great

heights.

10. Don’t File Bankruptcy or Foreclosure

Here’s the most obvious advice: Don’t file for bankruptcy or

foreclosure. These stay on your credit report for 10 years and

always decrease your credit score. The older the bankruptcy or

foreclosure account becomes, coupled with re-built credit

history, the less of an impact they play on your credit score.

Contrary to popular beliefs, you can legally delete a bankruptcy

and foreclosure. It’s not easy. But it’s possible. See the

advanced methods for that solution.

To quickly rebuild your credit history after a bankruptcy or

foreclosure, use the Round Robin strategy above and get secured

credit cards. Now you can even get a car loan or mortgage right

after bankruptcy.

© 2004 David Czach.

——– Editor’s Note ———-

Dave Czach has 12 years experience in the mortgage business and

a Bachelor’s Degree in Real Estate. He can be reached at

http://myLoanHero.com/go.cgi/daveczach.

This article may be reprinted without compensation provided

there are no changes whatsoever to the article, the copyright

notice and the complete Editor’s Note. Any reprinting or

duplication without these conditions is copyright infringement.

——– Editor’s Note ———-

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