Tidbits® - September 2006

Credit insight from Credit.com

Welcome to the Credit.com newsletter!

Each month, this free email newsletter delivers easy-to-read tidbits about credit directly from personal finance experts. In this issue we're focusing on recovering from credit problems. We'd love to hear from you! Send an email to tidbits@credit.com with your credit questions or comments anytime!

Quick Tip

Although some people get a thrill out of pinching pennies, others need more incentive. Give purpose to your budgeting by identifying clear financial goals.

Find pictures of your dream home or a vacation that you're saving for. Write a description of the lifestyle you'd like to lead when you retire. Keep a sample of your child's schoolwork nearby to remind you of your college savings goal. Post these things to your mirror or refrigerator to remind you of the bigger purpose of budgeting.

Read about making savings goals - http://www.credit.com/r/tidbits_investing_smarts/

Introducing "Ask John"

We are pleased to introduce John Ulzheimer, our credit industry insider who will demystify credit reporting and credit scoring for you:

Hi there. My name is John Ulzheimer, and I've spent the past 15 years as a credit industry insider. I spent almost seven years with Equifax (yes, the credit bureau), seven more with Fair Isaac (the folks who invented those pesky FICO credit scores), and the past couple of years with an organization that teaches people
how to rebuild their credit after bankruptcy.

The good people at Credit.com have asked me to help you learn more about credit reporting and credit scoring by teaching you what I know. And, what I know is a lot. I've built credit scores, taught
consumers how to improve them, helped solve credit report nightmares and even taught a class about credit reporting and credit scores at Emory University in Atlanta. I'm not a credit celebrity who has a team of researchers feeding me answers. I live it, I understand it, and I know it!

I've seen tens of thousands of credit reports and credit scores, and I don't think there's a problem that I haven't helped someone solve. As we all know, the better your credit reports and credit scores, the easier it will be for you to save money by getting better deals from lenders and insurance companies.

So, here's the deal...I'm going to teach you what I know. I'm going to give you real insider's information about credit reports and credit scores. My goal is to take this very complex stuff and make
it easy for you. And then I'm going to teach you how to improve and use your credit reports and scores so that you can take control of your own credit destiny.

I am committed to helping you with your own credit questions. I'd love to hear from you right now. Credit.com has set up a way that you can communicate with me called "Ask John." This is where you
can submit your questions, comments, and stories directly to me. I will answer them…all of them. And yes, the answers will come from me - http://www.credit.com/r/tidbits_ask_john/

That's my commitment to you. Now, I'd like to ask you to help me. I want to know how often you'd like to receive our newsletter. Would you like it monthly like you are getting it now, or would you prefer it more frequently, like weekly or biweekly? I'm happy to write as often as you like, but I want to be sure that I'm not burying you with credit information. Please go to "Ask John" and let me know - http://www.credit.com/r/tidbits_ask_john/

I look forward to a long relationship with you and your family. We can overcome any of your credit challenges. I promise! We'll start getting serious in the next newsletter, but I do want to give you a
little homework just to get you started.

There was a law passed in 2003 and implemented throughout 2005 called "FACTA." FACTA stands for The Fair and Accurate Credit Transactions Act of 2003. It amends the Fair Credit Reporting Act,
which governs how credit reports are used. One of the things that FACTA does for you is it guarantees you the right to get one free copy of each of your three credit reports every year. So, if you haven't claimed your FACTA freebies for 2006 yet, please do it now. There are instructions for claiming your free credit reports
online here - http://www.credit.com/r/tidbits_acr/

Once you receive all three of your credit reports, review them closely for errors and omissions. Believe me when I tell you that nobody cares more about your credit reports than you do, so take some time to make sure that everything is correct.

And, of course, if you have any questions about your credit reports,
please "Ask John" - http://www.credit.com/r/tidbits_ask_john/

Take care my friends,

John Ulzheimer

Featured Article

Are we headed for an ARM train wreck? Over a trillion dollars worth of adjustable rate mortgages are due to have their rates increased soon. Will mortgage payments double? Read about the potential real estate issues that lie ahead.

Read more about adjustable rate mortgages - http://www.credit.com/r/tidbits_train_wreck/

On the Blog

College students are often bombarded with credit card offers. It is becoming common for students to graduate with thousands of dollars in credit card debt. In this article, we offer three pieces of credit advice that every college student should know!

Read the three things every college freshman should know about credit - http://www.creditbloggers.com/2006/08/three_things_yo.html

Quote of the Month

If you don't ask, you don't get.
- Mahatma Gandhi

Tidbits® - September 2006

About this newsletter
This information has been compiled and provided by Credit.com as a service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's
situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.

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