What Makes A Good Credit Score?

The elements of creating a good credit score are relatively simple. Basically a credit score is a number that tells lenders how likely it is that you are going to be a good credit risk. Any institution that might lend you money will look at your credit score before determining whether to lend you money and under what terms.

It is not tied to your income. People with low incomes can have very high credit scores, while people with higher earnings can have lower credit scores.

It helps to take a detailed look at what a good credit score is. Go to http://aaacreditguide.com/credit-scores/what-is-a-good-credit-score/ to learn more about how credit scores are calculated. This post gives an overview, but more research is always better.

How Is A Credit Score Calculated?

The credit reporting agencies, the ones that determine your credit score, and FICO, look at your payment history, amount of money owed, the length of your credit history, any new credit and the mix of different types of credit.

Lenders and providers of loans furnish the reporting agencies with information about your use of credit; how much you owe, whether you have been late on a payment, whether your debts have been sent to collection agents,

The most important score that counts is your FICO score. It can range from a low end of 300 to a perfect score of 850.

Here are the ranges that make up excellent, good, fair, poor and bad credit:

Excellent: 781 and above
Good: 661-780
Fair: 601-660
Poor: 501-600
Bad: 500 and below

How Do You Get A Good Credit Score?

First of all, make a plan to pay down your outstanding balances. Having a good credit utilization rate of 30% makes you a better credit risk, because it shows you are a responsible credit user. Basically, if you have a credit limit of $3,000 and you have a $900 balance, that means you are using 30% of your available credit.

Dispute any old or inaccurate items on your credit report. Items can stay on your credit history for up to 7 years. And you have the right to dispute mistakes on your credit report. Learn how to write a credit dispute letter here.

Why is a Good Credit Score Important?

With a good credit score you can get lower rates for a mortgage, lower interest on car loans and even get a good deal on insurance. Plus you can get lower credit card rates, as well as access to better credit cards with more rewards, cash-back bonuses and higher limits.

Even more important for your long-term earning potential, plenty of employers use credit checks when making the call on hiring new employees or promoting internal employees.

How to Choose an Online Broker

There are so many brokers around these days they seem to be all over the place. Most of them advertise on the internet and each one claims to be the leader in the field. Brokerage sites make use of the most outstanding graphics, bright colors display constantly changing data while live stock prices go flashing across the page.

What is a new trader, eager to open an account and invest some money to do?  It isn’t easy to select just the right broker but there are definitely ways to separate the wheat from the chaff.

Here are some tips to keep in mind before opening an account:

  1. Always ask your friends and family for referrals. Don’t sign anything  on your own without speaking to someone in the know.
  2. Do your own research and due diligence. Compare brokers. Read reviews such as Daily Forex to see the differences between brokers.
  3. Once you have selected a broker, check out the site and decide which features offered by the firm are important to you. Do they have everything you are looking for?
  4. Check out whether or not the broker is properly registered with a bona fide financial regulator. The major regulators are the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) if they’re based in the US and the Financial Service Authority (FSA) if based in the UK. Many brokerages have been forced to close down because of fraud and you certainly don’t want to become a victim of a scam.
  5. Always use the Forex broker’s demo account. If this feature is not offered, do not even consider opening an account with them. The demo account gives you the opportunity to experiment with virtual money and allows you to practice trading without the fear of losing capital. It also gives you a feeling of how well the brokerage handles trades.
  6. Don’t be afraid to ask questions. How much leverage are you allowed? What are the margin requirements? How wide are the spreads? Does it cost anything to open an account? What is the commission? Although the answers to these questions often appear on the site, they are not always obvious to the newbie trader.
  7. Try out the customer service. See how quickly they respond and how efficient they are.

If they don’t know the answer to your question, see how long it takes them to get back to you with a response or to have someone more knowledgeable return your call. Good customer service is not always a given.

  1. Understand thoroughly the platform used for trades. The trading platform is the investor’s gateway to the markets and traders should be certain that the platform and all software is easy to use, visually pleasing, has a variety of technical and/or fundamental analysis tools. Trades should be entered and exited with ease.
  2. Always start out with the minimum amount of deposit required. You want to tread lightly till you are more comfortable.
  3. Keep track of your account carefully for several months before coming to any conclusion regarding your broker. If you’re not satisfied, close the account and move on to another one.

Cina Coren is a contributing editor for Daily Forex.com and a freelance writer for several financial publications.

Restaurant Owners: Cater To Your Audience!

You’ve created a trendy, fun, and bustling restaurant, an incredible undertaking with unbelievable rewards, but now that you’ve finally established yourself, how do you maintain that success? In this day and age, customers want instant gratification and quality, and as a restaurant owner it’s vital to provide in order to survive. To remain ahead of the game, your business must impart intrigue, delectability, and continuous satisfaction, and here’s how to make that happen.

With the advent of social media, people want to share their lives instantly. From cool and new activities they’re participating in to where they’re brunching on a Sunday morning that information is constantly posted to the internet. For restaurant owners, social media can be a blessing or a curse. To guarantee it’s the former, aesthetically pleasing or interesting interior design and beautifully arranged dishes are key. Create an intriguing environment and patrons will eagerly post photos and geotag their location, providing you with free, positive publicity. More importantly, chefs who design exquisite dishes that taste as wonderful as they look will have everyone posting positive reviews about your restaurant online; the satisfied customers will hopefully come back for more and inspire their friends to try it themselves!

To keep people interested, it’s also great to add novelty. Tweaking your menu seasonally and switching out wine and beer selections are a marvelous way to spice up your usual classics. Make sure you keep your bestsellers for those who don’t enjoy change. Add seasonal decorations to your normal decor and you’ll make your customers feel even more at home.

So now you have it – the key to making a successful business even more prosperous is to cater to the population. Create an environment that people will positively talk about and post online and you’ll be guaranteed success!

Eliminate Financial Stress With A Personal Line Of Credit

There are plenty of reasons you might find yourself in some financially dangerous waters. You might have had to run your child to emergency care and are left to deal with the subsequent bill; you could be in between work contracts and come up short for your next utility bill. Whatever the case may be, sometimes you aren’t prepared for what life throws at you – through no fault of your own. But that doesn’t make the reality of being strapped for cash any less harsh. When you find yourself momentarily short on money, do you know where you can turn?

Not everyone is blessed with family or friends who can help you balance the check book when you’re in need of some help. Even if it’s just $300 to smooth out the edges until your next contract starts up again, that can be out of your (and your social circle’s) abilities. Luckily, there’s an organization that you can turn to and no – it’s not the bank. In order to secure a loan with your local financial institution, you have to jump through hoops and hurdles just to speak with a bank representative, after which you’ll have to wait weeks while they review your application and credit score. When you’re bills are due in a few days, you can’t afford to wait and play by the bank’s schedule.

The alternative that you’re looking for is a personal line of credit with an accredited direct online lender. These lenders understand the importance of having cash for when you need it, so they’ve developed a process whereby your application won’t have to go through credit bureaus and other institutions before it’s approved. As opposed to the average traditional lender, they’re the lender that directly approves and facilitates your loan. By cutting down on the middle man, they can give you your loan that much faster.

A direct online lender like MoneyKey can approve your application quickly and deposit your approved limit in just 24 short hours. The limit of a personal line of credit from MoneyKey depends on your state of residence, as they pride themselves in following the rules and regulations provided by the state. That’s because they want to set you up with the appropriate tools for responsible lending habits. By following state sanction laws and providing you with information regarding online lines of credit, they want you to flourish. They don’t want you to take out a line of credit amount higher than you can reasonably pay back any more than you do.

Having a line of credit for whenever you find yourself short on cash (be it when your child is in the hospital or when you’re a couple of weeks away from the start of another contract), can take a stressful situation and make it more manageable. When you finance your credit with a responsible direct online lender, you can trust that you’re covered for when life puts a crick in your budget.

Binary Options: A Cash Cow in the Making?

Most everyone has heard about binary options trading, but the fact of the matter is that not everyone knows too much about it. Binary options are digital options with only 2 possible outcomes. Your trades either finish in the money, or your trades finish out of the money. Provided you accurately forecast future price movements you can enjoy profits in the region of 70% to 90% on average (more with one touch trades). But learning how to successfully trade binary options online takes some doing. Traders must first select the right binary options brokers to trade at, followed by a careful study of binary options site reviews. Like all other types of financial trading, binary options require you to have an understanding of the market, the price mechanism and the tradable assets in question.

How to Evaluate a Binary Options Trading Site?

Among the many factors that should be considered with binary options brokers is the quality of the trading platform. Typically, the leading binary options brokers – like the binary options broker Banc De Binary – actively advertise their licensing and regulation on site. In the case of Banc De Binary, the broker is CySEC regulated (Cypress Securities and Exchange Commission) and traders are assured of accountability, reliability and secure trading practices. Objective assessments of a trading platform are important since they lend credibility to the binary option site reviews in question. A great way to learn how to trade binary options online is by starting out with binary options demo accounts. These are typically available once a trader has registered on site, and made a deposit.

Boosting Your Trading Profits with Binary Options Trading

Many traders want to double their profits when trading binary options online. It is entirely possible to do this, but it requires insight and understanding of the market. A good place to start is with a reputable binary options trading site. A caveat is in order at this time: there are no quick-fixes to generating big profits when trading binary options. Traders run the risk of losing their entire investment on any individual trade and it is advised not to trade more than 5% of your total trading funds at any one time. By limiting your exposure in binary options trades, you are also limiting the effects of any one trade going in the wrong direction. Another important tip when trading binary options online is to avoid having all your trades moving in the same direction. If the market moves against you, it is foolhardy to have all your trades expiring out of the money.

Practical Methods to Double Your Income with Binary Options

So how can you ensure your trades end in the money? The short and sweet is that it is impossible to guarantee an outcome, but it is possible to increase the likelihood of a positive outcome in binary options trading. By exploring the possibilities in the market (economic indicators, economic calendars, geopolitical factors) it is safe to say that you can anticipate future price movements. For example, if the dollar weakens (ceteris paribus) the price of gold will rise. Or if there is geopolitical uncertainty in Iran or Saudi Arabia, the price of oil will be impacted. Likewise, currencies are impacted by the role of central banks vis-à-vis interest rates, and currency purchases to name but a few. If you keep your finger on the pulse and your eyes on the prize there is no reason that you can’t double your income while trading binary options online!