Jul 172013

There is no such thing as a quick fix in consumer credit; it takes time and knowledge of how the consumer credit world works to become creditworthy. You can do your own credit repair with a little effort and planning.

A credit repair agency cannot improve your credit score if it is based on your accurate credit information. Your credit report should include items permitted under the law, if the information reported is correct then there is nothing a credit repair agency can do to improve your credit report. Credit repair agencies cannot remove unfavorable but accurate information from your report.

Credit repair agencies do not have any special powers to do anything you cannot do yourself for FREE.

Watch out for companies that say they’ll “fix” bad credit for a fee — often substantial, usually payable in advance. So-called credit repair clinics say they will arrange to have negative credit information removed from your record — including information about bankruptcies and default judgments.

If you do decide to hire a credit repair agency, they must give you a written agreement that itemizes the services and goods they will supply, when they are going to start and when they are going to complete their services and the total amount you will be charged. A credit repair agency may not demand advance payment, or any payment at all unless its services result in a material improvement to your credit report.

According to the Federal Trade Commission

The Credit Repair Organization Act (CROA) makes it illegal for credit repair companies to lie about what they can do for you, and to charge you before they’ve performed their services. The CROA is enforced by the Federal Trade Commission and requires credit repair companies to explain:

  • your legal rights in a written contract that also details the services they’ll perform
  • your three day right to cancel without any charge
  • how long it will take to get results
  • the total cost you will pay
  • any guarantees

What if a credit repair company you hired doesn’t live up to its promises? You have some options. You can:

  • sue them in federal court for your actual losses or for what you paid them, whichever is more
  • seek punitive damages — money to punish the company for violating the law
  • join other people in a class action lawsuit against the company, and if you win, the company has to pay your attorney’s fees

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375


E-mail me:  cristina@cristinascreditsense.com


Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best or try to deal with the issue when buying a big ticket item.

Jul 102013

A potential lender would primarily assess a borrower’s creditworthiness by their credit reports and in turn their credit scores. Your bill payment history is one of the main criteria for creditworthiness; the strength of your credit history is what determines if you qualify for a credit card, a home mortgage or a car loan and at what interest rate!

Have you always paid your credit card payment on time? This is one of the most crucial pieces of information reported on your credit bureaus.

Not receiving a monthly statement does not exonerate you from paying on time or the correct minimum payment.

Pay consistently and on time.

Credit Card Companies mail out statements as a courtesy – it is your responsibility to follow-up on the missing statement, but more importantly to contact them and make sure payments are on time.

To earn a good to excellent credit score you have to pay all of your bills, loan installments and credit card payments on time, religiously. Late Payments are reported on your credit reports for years to come and decrease your credit score. You have to abide to your contractual agreement, you promised to pay on-time.  You can make extra payments anytime, but the minimum payment has to be done by a certain date – there is absolutely no flexibility!

Avoid the small and large mistakes that can decrease your credit score for years!

Schedule some quite time on a weekly basis and get into the habit of reviewing your credit card statements and paying them as soon as they show up in the mail or on your e-mail in-box.

  •  Consider setting up online accounts to pay all of your bills electronically; you can schedule post dated your payments.


  • Mail your payments in the return self-address envelope enclosed with your monthly credit card statement to make sure your payments are being delivered to the correct address and department. Mail the envelope 5-7 business days before the payment due date, this information is clearly marked on you statement. Be mindful of holidays, particularly Christmas and New Year the mail services tends to be a little slower during this season.


  • You can make payments at any of your bank’s banking centers and make your payments at the counter with the help of a live teller.


  • Pay by Phone

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375


E-mail me:  cristina@cristinascreditsense.com

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best or try to deal with the issue when making a big ticket item.

May 202013

Your credit score is a simply 3 digit number that represents the sum of the information contained on your credit report. It helps lenders to decide your credit worthiness.  Your credit score will be used to determine your approval for a loan and how much it will cost you, in other words the Interest Rate you will be approved at.

High-Risk = High Interest Rate

Here a couple of things that also affects the interest rate on your car loan:

  • Term

In most cases shorter term car loans tend to have a lower interest rate. The risk factor is lessened by term of the loan; less time for things to change in your life that make an impact on your ability to pay. You should note that the shorter the term the higher the monthly payments.

  • New Car vs. Old Car

It is a common practice in the automobile financing industry to offer lower interest rates for new cars and higher interest rates for used cars. Credit Unions might be an exception to this rule.  Credit Unions tend to offer the same rates to both new and used car financing, but their lending criteria tends to be more astringent. A Good Credit Score representing low-risk it far more important to a credit union.

  • Geographical/Region of the country

Automobile financing through banks and other financial institutions offer different interest rates in different parts of the country. Borrowers with similar credit profiles and income etc… might qualify at the different interest rate in the different parts of the country.

Please note, these are the usual things that affect the interest rates when borrowing through a bank or other financial institution, automobile financing through the dealership may work differently.

Also see:




Can’t find a Credit Article about a subject you are interested in? Need Help with your Credit Problems?

Call:  303-997-3375


E-mail me:  cristina@cristinascreditsense.com

Be Credit Wise! It is far smarter to take the time to deal with the problem than hoping for the best.

Apr 232013

Is Your Credit in Order?

Creditors use your credit report and credit score to determine to grant you a mortgage and what interest rate to charge you. It is critical that you get a copy of your credit reports and credit scores a few months before making such a major purchase.

Your credit rating may be the single most important piece of financial information you have to obtain a mortgage at the best interest rate. Credit Scores have names, such as: FICO and BEACON, depending on the credit reporting agency.

Order your Free Credit Reports from: annualcreditreport.com , you have to pay to obtain your credit scores. Arm yourself with the same information that lenders, bank managers, mortgage specialties and mortgage brokers will use to determine if you qualify to be approved and at what interest rate.

Check your report thoroughly to make sure there is no negative or incorrect information that could hurt your chances of getting a favorable mortgage.

Spend the time to get things in order:

  1. Catch up on any overdue payments
  2. Unpaid collections reporting on the credit report
  3. Outstanding balances still showing on the credit report, although you have paid in full
  4. Total debt showing o on the credit report, such as: credit cards, car loans, personal loans
  5. Unsettled judgements
Apr 232013

Take into account all the pros, cons and responsibilities involved in getting joint credit as a couple. Societies approach to Marriage or Long Term Relationships have changed a lot in the last few years – Credit Rules have not!  Improve your credit literacy.

A joint credit loan includes you and your spouse’s income, financial assets, and most important your combined credit history.

The benefit is that the credit grantor assesses your collectively credit reports and financial profiles; your financial picture may prove much stronger in helping to get approved for better credit terms. You pay less to borrower!

This can be a good thing or not, when it comes to your respective credit reports! If, both partners have R1 credit reports it is a good thing. Banks and finance institutions usually welcome a joint application; it strengthens the deal by adding the paying power of two incomes; limiting the risk factor.  However, if one of the partners is less than R1 in their credit report, this could affect either the approval or the interest rate of the approval.

Understand your obligations – Joint Credit means both of you are responsible for ensuring that debts are paid, no matter where the marriage or long term relationship ends.

You are both responsible for the debt; even if you separate and/or divorce the debt obligations are assigned to each spouse.

The danger here is that a bitter ex-spouse can seriously jeopardize your credit history through these jointly-held accounts.

Joint accounts will appear on both of your credit reports, so if one of the ex-spouses does not pay per contractual agreement, this information will reflect on both credit reports.

Get Credit Wise, also see:




Apr 232013

The purchase you transact today on credit will grow in debt tomorrow and the next day! Credit is Debt; however, R1 credit will also empower you to access the better things in life.

Learn to use credit wisely! Interest is relentless, it will change and grow. Credit also gives access to many things that add fun and enjoyment to our lives. The trick is learning how credit works, the rules credit grantors operate by.

Credit comes in many forms –credit cards and personal loans, overdraft protection, installment plans and many more!

How do you position yourself to get approved for the best terms of service and interest rates?

When you are ready to go for credit, be a smart shopper. Lenders or Creditors are here to lend or extend credit, as long as YOU are a Safe Risk.   Are YOU a good bet? Are YOU going to pay them with Interest and on Time?

Your Credit Report is the most important document in the overall process of getting approved for credit at the best interest rates. Your Credit Rating which is reported on your Credit Report is usually the first document the credit granter will check. Once, you have R1 Credit Rating, banks, loan outlets and credit card companies will welcome you with open arms. Now, you can be a smart shopper, because, you have the credit report they want to see!

You have mastered the ability to qualify for credit at the terms YOU Want. WIN AT THE CREDIT GAME.

Learn the secrets to help lenders grant you all the credit you ever ask for on your terms!

See the following articles:




Mar 242013

Allow me to introduce myself

My name is Cristina Yasakci, BA,BCom
A Senior Credit Manager and Financial Administrator with 20 years of experience in the corporate world with the many facets and functions of Credit Granting and Credit Collections, such as:
Consumer & Commercial Lending
Home Equity Loans
3rd Party Collections

Started my Credit Career at Equifax and a member of CAGT. My decision to merge my expertise and corporate insight created a unique opportunity for credit consumers to have a professional credit specialist to consult with. Offering the opportunity to level the playing ground with one truly dedicated expert upholding the highest professional standards and yet offering practical Teaching you the answers to your credit questions.

An advocate of total quality management, that has a strong commercial awareness of the necessary integration of credit management with the other functional activities of business. A firm champion of the contribution of credit management to profitability growth and to overall life enhancement through educated credit decisions.

CRISTINA’S CREDIT SENSE relates to not only those directly involved in credit granting and debt collection, but also those individuals and organisations performing allied functions. Credit strategies whose business activities encompass all-embracing practical achievements.


CRISTINA’S CREDIT SEMINARS targets the General Public, Professional as well as Corporation. I am a Sociable and Enthusiastic Teacher and I have been conducting Credit Seminars for over 20 years.

A friendly, easy-going personality is supported by a thorough systematic and organized approach to problem solving, where team involvement in the achievement of planned results is encouraged. A proven team motivator – Teacher – Coaching for Success!

Mar 232013

Informative, Entertaining and Timely Articles about: Credit as well as How Money Vs. Interest Works
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Complete Credit Guide – Insider Information
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Credit Scores – How Do the Numbers Add Up
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Identity Theft – Protect Yourself
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Marriage, Divorce or Death – Your Credit Lives On
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Repairing Your Credit Report
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Secret to Building Great Credit
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