四个步骤获得完美无瑕的信用外文翻译.docx

1、四个步骤获得完美无瑕的信用外文翻译外文题目： Four Steps to Spotless Credit 出 处： Money 作 者： Chatzky, Jean Bigda, Carolyn,Gengler, Amanda 原文：Four Steps to Spotless Credit Everything you need to know to polish your image with lenders, score better rates and guard against identity theft Imagine being rejected for a credit ca

2、rd because you once forgot to return a library book. Or not landing a job because you were late paying bills while you were unemployed. Or finding you cant refinance your mortgage at a low rate because a thief (or your cousin) opened accounts in your name. All of these scenarios are outrageous, but

3、none, unfortunately, are far-fetched.Your good name, once something you could build and nurture face to face, is now analyzed by a computer and ruthlessly boiled down to a single three-digit number, your credit score. That score not only affects how much you can borrow and at what interest rate, it

4、also drives whether you can get a decent rate on car insurance or a new job. And as creditors routinely peek at your behavior with other lenders for an excuse to hike your interest rate to as much as 30%, or even cut you off at the knees, just one slip can be especially painful.Thats why being in co

5、ntrol of your credit is arguably the most important financial move you can make. The good news is that theres plenty you can do to boost your credit score, keep identity thieves at bay and restore your good name-and, by extension, qualify for better credit deals and wow anyone who thinks a three-dig

6、it number sums you up. The story that follows will tell you how.STEP 1: Know What Creditors Know: To see yourself as lenders see you, you need two key things Exercise your right to a free credit report As of last year, everyone is entitled to a free report from each of the three major bureaus-Equifa

7、x, Experian and TransUnion-every year. The only source for truly free reports is AnnualCreditR (877-322-8228). But watch out: A dizzying array of companies peddle free credit reports through websites such as FreeCreditR (run by Experian) and FreeCreditP (TransUnion). But to get a free report from si

8、tes like these, you must subscribe to a credit monitoring service that you likely dont need. If you dont cancel within 30 days, youll face fees as high as $13 a month. Why patience pays off Getting your credit report online can be an exercise in frustration. Why? Proving who you are means answering

9、a series of detailed questions such as the model-year of a car you sold long ago or the name of the lender that financed your home-equity loan 10 years earlier. A better bet is to print out and mail the short order form. Yes, it will take two weeks for your report to arrive. But unless you are apply

10、ing for a mortgage tomorrow, thats no big deal.Then find out your credit score Theres one important thing missing from your free credit report: your credit score, which is the calculation of your creditworthiness that lenders, insurers and even utility companies look at when you do business with the

11、m. Your score can range from 300 to 850, but practically no one has one lower than 500. To learn what your score is, you have to buy it-or ask a loan officer when you apply for a mortgage or other loan. By law, he must provide it upon request. Not all scores are equalYou actually have at least three

12、 scores, each one generated for a different bureau. Youre best off buying a FICO score (for Fair Isaac, the company that pioneered credit scoring) because more than 75% of mortgage decisions are based on it. Of the three credit bureaus, only Equifax sells a FICO score, and you can buy it for $6.95 a

13、t AnnualCreditR when you request your free report. When youre applying for a major loan, though, its smart to get FICO scores from all three bureaus in advance because the information can vary; you can buy the trio for $45 at M. The higher your score, the less you pay A credit score of 720 might typ

14、ically qualify you for a credit-card rate of 9.6% vs. 18% for someone scoring 600. For every $1,000 of your balance, youd save $86 in annual interest.STEP 2: Polish Your Credit Profile: Four ways to make yourself more attractive to lenders Scour your credit report for errors A full 25% of reports ha

15、ve errors serious enough to deny you credit, according to the U.S. Public Interest Research Group, and its up to you to fix them. Your credit report includes directions for filing a dispute. For mistakes such as a misspelled name, contacting the bureau by phone or online is fine. For anything else,

16、write a certified letter with return receipt requested. With a free report, the bureau has 45 days to investigate your claim. In the meantime, contact the creditor who erred as well. A consumer statement is generally a waste of time: You have the option to add a 100-word statement to your credit rep

17、ort that explains your side of the story-a dispute with a lender, say, or a bankruptcy. But think about how online mortgage lenders work. You type in your personal data and within a few minutes get multiple offers. Its all computerized. Theres no one taking the time to read your carefully crafted de

18、fense of why a bill was late. Even when there is, a statement may not help and can occasionally hurt. People do more damage by admitting to their bad behavior, says Stephen Snyder, author of Do You Make These 38 Mistakes with Your Credit? It validates the fact that its actually true. Always pay your

19、 bills on time Nothing is more important to your credit profile (see the chart at left). Missing your credit cards 2 p.m. deadline by even a few hours can trigger a $39 late fee. Thats not all. Once youre late, that issuer will hike your interest rate into the stratosphere, and after 30 days report

20、your slip to the credit bureaus. When other lenders take a look at your file, which they do from time to time, they may raise your rate too. Deny your kids: Adding a child to your credit card can help his or her credit but sabotage yours. If your kids can charge on your account at will, and their wa

21、yward spending makes it tough for you to pay the bills, both of you may end up regretting your leniency. Live well within your limits How much you borrow vs. how much you can borrow, or your utilization ratio, is the second most important factor behind your score. Using 30% or less of your available

22、 credit is best. More than 70% is a serious drain on your score. You can reduce your utilization ratio in two ways: Pay down what you have borrowed or expand what you can borrow. To do that, raise your credit limits or open a new card. Just be sure you resist the urge to borrow more simply because y

23、ou can. Watch out, big spender: Even paying your bill in full every month doesnt guarantee a low utilization ratio. How maxed out you look depends on your balance the day your issuer reports to the bureaus. If thats right after youve made a big purchase but before youve paid your bill, your score su

24、ffers, notes Evan Hendricks, author of Credit Scores and Credit Reports. For 60 days before you apply for a loan, put off any major shopping trips. Open and close accounts with care The most valuable accounts are your oldest ones. If you cancel credit cards that youve had for a long time, for instan

25、ce, you may take a file thats 20 years long and reduce it to four or five years. To make sure a card company doesnt try to get rid of you-you could be costing them more in postage than youre producing in fees-use the card every three to six months. Be a snob about lenders: You can be docked for havi

26、ng a finance company listed among your creditors, says John Ulzheimer, a credit expert at . Finance companies are the lenders of last resort, he notes. Think youve never used a finance company? You may have if you have ever borrowed for a purchase (furniture, say, or a computer) through the store. T

27、rolling for credit can ding your score: A flurry of credit applications hurts you. Dont worry about shopping around for a mortgage or a car loan-multiple applications you make within 14 days for either loan count as only one. But those cards you apply for to earn 10% off at the mall? Big mistake. Be

28、 wary of pre-approved card offers: When issuers compile prospects for junk-mail campaigns, they make a soft credit inquiry, which has no impact on your score. However, it doesnt give them enough information to close the deal. For that, you have to send back the application, giving them permission to

29、 do a hard inquiry. That counts as a new credit application and can take your credit score down a handful of points. The Math Behind Your Secret Grade: Five factors determine your score. Knowing whats most important can help you raise yours. WHAT GOES INTO YOUR CREDIT SCORE35% Bills paid on time30%

30、Ratio of debt to credit limit15% Length of Credit history10% Credit application10% Variety of LoansSTEP 3: Protect Your Good Reputation: Know where youre vulnerable and mount a sensible defense Protect your paperwork Think of your Social Security number as the key to the kingdom. Anyone who has it c

31、an easily open an account in your name. Give it out as seldom as possible, and dont carry your Social Security card in your wallet. To thwart thieves who go into your mailbox or trash (whats called Dumpster diving), call 888-5OPTOUT to put a stop to credit-card offers in the mail, tell your bank not

32、 to share your information and elect to receive and pay bills online. Trust your computer (but verify) Banking online is safer than you may think-and becoming even more secure. Federal regulators recently ordered banks to tighten their online security by the end of 2006, requiring more than just a password to log on. Some financial services companies, including E-Trade and Bank of America, already offer this two-factor authentication, but you may have to sign up for