Sunday, July 29, 2012
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Thursday, July 19, 2012
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Thursday, July 12, 2012
Learn How Credit Inquires Affect Your FICO Score
Credit inquiries
- Will my FICO score drop if I apply for new credit?
- If it does, it probably won't drop much. If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most credit scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.
The Basics
- What is an "inquiry"?
- When you apply for credit, you authorize those lenders to ask or "inquire" for a copy of your credit report from a credit bureau. When you later check your credit report, you may notice that their credit inquiries are listed. You may also see listed there inquiries by businesses that you don't know. But the only inquiries that count toward your FICO score are the ones that result from your applications for new credit.
- Does applying for credit affect my FICO score?
- Fair Isaac's research shows that opening several credit accounts in a short period of time represents greater credit risk. When the information on your credit report indicates that you have been applying for multiple new credit lines in a short period of time (as opposed to rate shopping for a single loan, which is handled differently as discussed below), your FICO score can be lower as a result.
- How much will credit inquiries affect my score?
- The impact from applying for credit will vary from person to person based on their unique credit histories. In general, credit inquiries have a small impact on one's FICO score. For most people, one additional credit inquiry will take less than five points off their FICO score. For perspective, the full range for FICO scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk. Statistically, people with six inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. While inquiries often can play a part in assessing risk, they play a minor part. Much more important factors for your score are how timely you pay your bills and your overall debt burden as indicated on your credit report.
- Does the formula treat all credit inquiries the same?
- No. Research has indicated that the FICO score is more predictive when it treats loans that commonly involve rate-shopping, such as mortgage, auto and student loans, in a different way. For these types of loans, the FICO score ignores inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for rate-shopping inquiries older than 30 days. If it finds some, it counts those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.
- What to know about "rate shopping."
- Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking for one loan. To compensate for this, the score ignores mortgage, auto, and student loan inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for mortgage, auto, and student loan inquiries older than 30 days. If it finds some, it counts those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.
- Improving your FICO score.
- If you need a loan, do your rate shopping within a focused period of time, such as 30 days. FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur.
- Generally, people with high FICO scores consistently:
- Pay bills on time.
- Keep balances low on credit cards and other revolving credit products.
- Apply for and open new credit accounts only as needed.
- Also, here are some good credit management practices that can help to raise your FICO score over time.
- Re-establish your credit history if you have had problems. Opening new accounts responsibly and paying them on time will raise your FICO score over the long term.
- Check your own credit reports regularly, before applying for new credit, to be sure they are accurate and up-to-date. As long as you order your credit reports through an organization authorized to provide credit reports to consumers, such as myFICO, your own inquiries will not affect your FICO score.
Wednesday, July 11, 2012
How Much of an Age Gap is Too Much for Relationships?
Read more at ONTD: http://ohnotheydidnt.livejournal.com/65880375.html#ixzz20C5zgpFr
Monday, July 9, 2012
Sunday’s Best Season 5 Recap Episode 1
posted by elev8.com
Sunday’s Best is back and better than ever.
New judges with ears of gold was evident in Sunday’s Best kick off episode. The words “Stop… Don’t sing another word.” was an echoed over and over for many. Kim Burrell, Donnie McClurkin and Yolanda Adams were the purveyors of talent. When the season kicks into performance competition mode CeCe Winans will be one of the judges sitting at the table. Gone are the gospel sisters extraordinaire Mary Mary.
The prize for becoming “Sundays Best 2012 winner” is a 2013 Ford Escape and a contract with Music World.
Here are just a few of the first entrants to cross over into the top 20
- Jeremy Hill
- Joshua Rogers
- Danetra Moore
- Antwon Aubry Jr.
- Kizzy Walker
- Susan Hedgepeth
- TeAndria Newsome
- Ashford Sanders
Andrea Helms and Mama Sue made an appearance as nervous artists about to auditor. As usual they both blew the top off the house! The top 20 were picked and the show was filled with laughs and tons of banter. Make sure that you are following @Elev8official om Sunday’s nights for your Sunday’s best weekly hang!
Sunday’s Best is back and better than ever.
New judges with ears of gold was evident in Sunday’s Best kick off episode. The words “Stop… Don’t sing another word.” was an echoed over and over for many. Kim Burrell, Donnie McClurkin and Yolanda Adams were the purveyors of talent. When the season kicks into performance competition mode CeCe Winans will be one of the judges sitting at the table. Gone are the gospel sisters extraordinaire Mary Mary.
The prize for becoming “Sundays Best 2012 winner” is a 2013 Ford Escape and a contract with Music World.
Here are just a few of the first entrants to cross over into the top 20
- Jeremy Hill
- Joshua Rogers
- Danetra Moore
- Antwon Aubry Jr.
- Kizzy Walker
- Susan Hedgepeth
- TeAndria Newsome
- Ashford Sanders
Andrea Helms and Mama Sue made an appearance as nervous artists about to auditor. As usual they both blew the top off the house! The top 20 were picked and the show was filled with laughs and tons of banter. Make sure that you are following @Elev8official om Sunday’s nights for your Sunday’s best weekly hang!
Episcopal Church Votes To Allow Transgender Ministers
posted by elev8.com
Episcopal church votes to allow transgender ministers to lead congregations.
A day after a legislative body of the Episcopal Church voted to sell the denomination’s New York headquarters amid budget cuts and declining membership, church leaders on Saturday adopted legislation to give transgenders the right to become lay and ordained ministers.
At the church’s ongoing week-long General Convention in Indianapolis, Ind., the House of Bishops approved proposal that would amend two canons to prohibit discrimination based on “gender identity or expression” in the lay and ordained ministry discernment process and in the overall life, worship and governance of the church, Episcopal News Service reported.
The House of Deputies, the other legislative body of the bicameral General Convention of the Episcopal Church, must approve the legislation to pass at the convention.
The bishops’ move overlooks the fact that 200,000 members and 300 parishes have left the denomination in the past few years partly due to the church’s leftist policies on social and political issues. Nine years ago, the church approved its first openly gay bishop.
For many in the church, Saturday’s resolution was about “inclusion.”
“I am pleased that these resolutions did pass in that they have the very significant effect of validating, in the eyes of the church, the humanity of those who are transgender,” the Rev. Carolyn Woodall of the Diocese of San Joaquin was quoted as saying. “We are greatly misunderstood and there is a widespread lack of knowledge about what it means to be transgender.”
What do you think? Is this smart or not?
Episcopal church votes to allow transgender ministers to lead congregations.
A day after a legislative body of the Episcopal Church voted to sell the denomination’s New York headquarters amid budget cuts and declining membership, church leaders on Saturday adopted legislation to give transgenders the right to become lay and ordained ministers.
At the church’s ongoing week-long General Convention in Indianapolis, Ind., the House of Bishops approved proposal that would amend two canons to prohibit discrimination based on “gender identity or expression” in the lay and ordained ministry discernment process and in the overall life, worship and governance of the church, Episcopal News Service reported.
The House of Deputies, the other legislative body of the bicameral General Convention of the Episcopal Church, must approve the legislation to pass at the convention.
The bishops’ move overlooks the fact that 200,000 members and 300 parishes have left the denomination in the past few years partly due to the church’s leftist policies on social and political issues. Nine years ago, the church approved its first openly gay bishop.
For many in the church, Saturday’s resolution was about “inclusion.”
“I am pleased that these resolutions did pass in that they have the very significant effect of validating, in the eyes of the church, the humanity of those who are transgender,” the Rev. Carolyn Woodall of the Diocese of San Joaquin was quoted as saying. “We are greatly misunderstood and there is a widespread lack of knowledge about what it means to be transgender.”
What do you think? Is this smart or not?
Daily Bread: Who's Behind It?
posted by Albert Lee on odb.org
At a cultural show in Bandung, Indonesia, we enjoyed a wonderful orchestra performance. Before the finale, the 200 people in the audience were each handed an angklung, a musical instrument made of bamboo. We were taught how to shake it in rhythm with the conductor’s timing. Soon we thought we were performing like an orchestra; we felt so proud of how well we were doing! Then it dawned on me that we were not the ones who were good; it was the conductor who deserved the credit.
Similarly, when everything is going well in our lives, it’s easy to feel proud. We’re tempted to think that we are good and that it is by our abilities that we’ve achieved success. During such moments, we tend to forget that behind it all is our good God who prompts, prevents, provides, and protects.
David remembered that truth: “Then King David went in and sat before the Lord; and he said: ‘Who am I, O Lord God? And what is my house, that You have brought me this far?’” (1 Chron. 17:16). David’s heart swelled up in appreciation of God’s goodness.
The next time we are tempted to take credit for the blessings we enjoy, let’s pause and remember that it is the Lord who brings blessing.
At a cultural show in Bandung, Indonesia, we enjoyed a wonderful orchestra performance. Before the finale, the 200 people in the audience were each handed an angklung, a musical instrument made of bamboo. We were taught how to shake it in rhythm with the conductor’s timing. Soon we thought we were performing like an orchestra; we felt so proud of how well we were doing! Then it dawned on me that we were not the ones who were good; it was the conductor who deserved the credit.
Similarly, when everything is going well in our lives, it’s easy to feel proud. We’re tempted to think that we are good and that it is by our abilities that we’ve achieved success. During such moments, we tend to forget that behind it all is our good God who prompts, prevents, provides, and protects.
David remembered that truth: “Then King David went in and sat before the Lord; and he said: ‘Who am I, O Lord God? And what is my house, that You have brought me this far?’” (1 Chron. 17:16). David’s heart swelled up in appreciation of God’s goodness.
The next time we are tempted to take credit for the blessings we enjoy, let’s pause and remember that it is the Lord who brings blessing.
No strength of our own, nor goodness we claim;
Our trust is all thrown on Jesus’ name:
In this our strong tower for safety we hide;
The Lord is our power, “The Lord will provide.” —Newton
Our trust is all thrown on Jesus’ name:
In this our strong tower for safety we hide;
The Lord is our power, “The Lord will provide.” —Newton
The hand of the Father is behind all good things.
Thursday, July 5, 2012
Wednesday, July 4, 2012
Monday, July 2, 2012
Sunday, July 1, 2012
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