Monday, January 12, 2009

Improve Your Credit Score - Even Without Debt

Is your credit score suffering - not because of bad choices or irresponsibility, but because of lack of revolving accounts or mortgage that are being paid on regularly?

I have found the answer. It is called PRBC, Pay Rent, Build Credit, Inc. (PRBC) is an FCRA compliant credit repository that offers consumers and small business owners the opportunity to build a credit file and score, which is solely based on their history of making rent and other regular (monthly) payments. This record can be used to prove an individual's creditworthiness when he or she applies for an apartment, mortgage, or car loan or even when an insurance company or prospective employer runs credit!

If you do not have credit cards, and you pay cash (or use checks) aka "real money" to pay your bills or make purchases, you are not alone. There are approximately 50 million people in the United States that do not have any credit whatsoever. It is hard to believe that there are so many others just like you, isn't it? Why should being responsible and "paying cash" for everything you purchase or for every bill you pay mean that you are not creditworthy? Unfortunately, paying cash or using real money for everything does not create or build a credit report or FICO score for you. If you ask me, using real money for everything actually makes you less of a credit risk so you deserve credit whenever you ask for it. Maybe even more so than others.

That is where PRBC comes in. "PRBC" is short for Pay Rent Build Credit, and their service is a relatively new credit bureau that permits for the usage of a non-traditional credit model to help consumers in just your situation. With their service, you can self-report and build your own credit report just by doing what you are already doing anyway - - such as paying your rent, utilities, phone bills, and any other contractual agreements on time. PRBC uses the information you give them to verify your payments, and they, in turn, take that information to build your credit report accordingly. What good is this service? Well, the FairIsaac Company has acknowledged PRBC and joined with them to build a unique FICO score that prospective lenders, insurance companies, landlords, and employers can use when assessing the risk of applicants who have no traditional credit history.

It's a tough economy out there right now. People who were previously considered "creditworthy" are suffering job losses and credit line closures or reductions. Shouldn't we who have no lines of credit use this time to build a credit file for ourselves just in case we should ever require a credit line? It is getting tougher and tougher to obtain credit even with a good credit score and history. We cannot afford to be left out in the cold, should we find ourselves in need.
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An up and coming business with very little overhead

Have you considered grass painting?

As seen in Fortune and Inc. Magazines

Anyone here been out of work for quite some time and trying to find a way to start your own business so that you can get back to work and getting some income? I have been thinking that maybe it is the best and quickest way to earning money once more. Not to mention that perhaps in this day and age, it is best to be dependent on no employer. After some extensive research, I have learned that grass painting is an up and coming business and very cheap to get started. You just need to know the "ins and outs" of the business. I did an online search to see what is available to those wanting to start their own lawn painting business, and frankly, I was disappointed at the lack of resources. To be even more frank, I was surprised by advertisers who seem to be offering a lawn painting business in a box, for lack of a better term, and at a huge upfront investment to the entrepreneur. It is not wise to put so much money out up front at the beginning of any business.

There is an ebook available that can get you started for much less than anyone else is offering to get a lawn painting business started, and there is already a 2nd edition available. In the 2nd edition of "How to Start a Lawn Painting Business" ebook, the following topics are covered:

  • How to formulate a business plan and how to reach your personal/professional goals;
  • What equipment you need, where to get the equipment, and how to use the equipment;
  • How to market your business, to include building a website, online marketing, search engine optimization, "on foot" marketing, how / where to purchase marketing materials, sample marketing flyers, and who your likely customers are;
  • How to prepare estimates, a sample price sheet, where to get your information from, and how to deal with your customers (recommendations for payments, billing, etc.);
  • Common pitfalls and mistakes to avoid;
  • List of best resources (many of which are free) with hyperlinks included so that you can click on the resource and be immediately directed to the recommended vendor, website building company, etc.
  • How to set up your home office with specific administrative instructions, and much, much more!

Learn how to get your copy here.