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Welcome to the Credit.com newsletter!
This free newsletter delivers easy-to-read tidbits about credit
directly from personal finance experts. In this issue, we're talking all about resolutions. We'd love
to hear from you! Send us an
email
with your credit questions or comments
anytime!
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Quick Tip
Considering buying a car in 2007? Apply online for a no-obligation loan quote before you pick out your dream wheels. Online auto loans are often much less expensive than financing directly from the dealer.
Credit.com has auto loan options for buying from a dealership or a private seller.
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Ask John
Our credit scoring guru,
John
Ulzheimer, shares his top financial resolutions and tips for the new year. See what the experts are recommending for the next twelve months.
Read his column and submit your own credit
reporting question online.
Find
out more
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On the Blog
We're talking about New Year's resolutions online all month long. Take our interactive poll, share your resolution with us by email and visit for updated tips and information.
Read
more about financial resolutions.
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Our Favorite Resolutions
It’s a brand new year! Time to set some resolutions to help make 2007 the best it can be. In the credit and financial world, it is amazing how much you can get done in just twelve months. We have picked three easy resolutions that anyone can fulfill! Each resolution comes with resources to get you started and goals to keep you motivated:
1. Get Out of Debt
Credit card balances, student debts, and car loans can all add up to some serious debt. The average American carries around $12,000 in non-mortgage debt. That’s a pretty expensive statistic. Not to mention that credit card balances tend to spike after the holidays. Getting out of debt is great for your finances and can also give your credit scores a boost.
What to do: Print out our do-it-yourself debt reduction plan and read our new article about making a debt resolution. Then, go for a free online debt consultation through Credit.com to see if a solution like consolidation or settlement could help you.
Goal: Pay an extra $200 a month toward your debts on top of the minimums.
By Next January: You could cut your debt in half!
2. Improve Your Credit Scores
Credit scores are used to determine rates for credit, loans, insurance, utilities, and more. You can save hundreds of dollars by boosting your credit score. Depending on your credit data, improvement could be as simple as opening a new account, disputing an inaccuracy, or increasing your credit limits.
What to do: Order your credit reports & credit scores online to see where you stand. Read about what you can do to improve your scores in the learning center and test the impact of your changes using the free Credit Score Compass. You can also ask our credit score expert, John Ulzheimer, for help.
Goal: Aim to move up to the next highest credit score category.
By Next January: You could be getting much better deals based upon your scores!
3. Build Your Savings
Saving for the future is an excellent goal that everyone can accomplish. Short-term savings can help you manage financial emergencies or afford big purchases. Long term savings can help you pay for your child's education, fund your retirement, or finance dreams like a starting your own business. Even if you are just putting away $25 a month, saving helps you get ahead.
What to do: Print out our savings & investing and monthly spending plan worksheets to get started. Open a free high yield savings account online that allows you to earn 4.5% annual percentage yield.
Goal: Put $300 a month into your savings.
By Next January: You could have over $3,600 in the bank!
Do you have a different resolution for 2007? Visit our Learning Center to learn more or send an email to tidbits@credit.com. We want to help make your resolution a reality!
Quote of the Month
“Always bear in mind that your own resolution to succeed is more important than any one thing.”
- Abraham Lincoln |
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