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It can happen to anyone: Miss a payment by credit card or two and the next time you check your credit score, which is surprising to find a few that scares lenders. But with patience and discipline, you can see the score deep into the stratosphere. We talked to people around the country that has been excavated and raised their credit scores dramatically – sometimes in the years to only one or two.

We ask you to convey your best tips to share with people who can cope with blue low score.

Melissa Chinwah
Homewood, Illinois
The credit score before: 348
Credit score after: 702

Tips for keeping a good credit rating

Credit scoring danger zone

Rock Bottom: After the divorce, Chinwah, an office manager, was surprised to find that your credit score dropped to an average of 348, with the lowest score among the three agencies reported that 316. There were 43 collections and a car seized by his report – “It was a good thing, except for my student loans, he said. “I started looking for a house for me and my two small children and not even look at me.”

Turning Point: Melissa began to investigate the details of your credit MyFICO.com report forums where people have shared their tips to raise their credit ratings. For example, he learned that 120 days is a late payment is essentially the same to be recovered, according to a credit bureau. “The average layman does not know what kind of thing,” he said.

His motivation: “The motivation is that I need a place to live,” he said. “I was 44 years old at the time, and I had to start over anyway.” When the credit score Melissa has reached 648, which applies for a mortgage and bought their dream home. Read the rest of this entry »

If your company has recently begun accepting credit card payments, you may wonder how long it takes to maintain revenues. There is much confusion about this city that many believe that all documents related businesses need to store up to seven years – however, it is not always the case. When you run a business, it is important that you have a solid track record of maintaining the system put in place. Ideally, you want to be able to access documents relevant to the business – including accounting reports, bank statements and receipts for credit card transactions – in minutes, so a classification system is organized essential.

The documents you need to keep long term may vary from company to company. Some items must be kept permanently: documents such as books, annual reports and general legal records fall into this category. On the other hand, receipts and other records – such as credit card receipts – can be discarded after a given period. The main reason you need to keep legible copies of credit card sales receipts for a period of time is that you can refer in case of disputes with customers or the credit card company approaches you with respect to a chargeback. Chargebacks occur when clients feel they have been accused of something by mistake – for example if your card was used fraudulently, or who have been charged twice for the item purchased only once.

In these cases, credit card companies often try to cancel the load and the amount you get. If unable to submit your original receipt transaction by credit card, you may have trouble resolving the dispute with the company credit card. For this reason, you should keep your receipts for credit card in hand for at least 18 months to two years. There is no legal requirement for you to hold your credit card receipts for a while, but it gives you a buffer so you can manage the conflicts that may arise. Once you have completed all the sensitive documents like credit card receipts, you must immediately destroy the tape. Read the rest of this entry »