How Closing Accounts Can Kill Your Credit Score

One of the major factors of how your credit score is calculated is your capacity. This is the ratio of credit used to the amount of credit that is available. This accounts for 30 percent (almost a third!) of your credit score. For example if you have 5 credit cards with a $1000 limit and you have 3 of them maxed out and 2 of them inactive your capacity would be at 60 percent, $3000 of your $5000 total credit limit. This is not good in the eyes of the lenders and your credit score would suffer because its ideal to be at 10 percent of your capacity.

Remember a credit score is a formula measuring your ability to pay back your debts and obligations. If you have a high capacity and little room left for your maximum then your ability to pay back your obligations is viewed as more limited.

So in the example above, lets say you decide to close the 2 inactive cards for whatever reason. Nowadays, the credit card companies will charge a fee to inactive cards so a lot of people are now closing their inactive accounts. Well unfortunately, they are killing their credit score. If you are maxed out on three cards and you close the other 2, guess what, you are now at 100 percent capacity because your total credit limit is now $3000 instead of $5000. I know from personal experience this will cause your credit score to plummet.

My advice? Don’t close your inactive cards. Use them once a month, maybe for gas, or treat yourself to a latte from Starbucks. Then pay them off immediately so you don’t incur any interest. Do what you can to pay off the cards that are maxed out, or at least get them down to where your balance is under 10 percent of the limit. If you can, try to transfer the balance to a lower interest card, so it can save you a few bucks on the interest. This strategy is sure to improve your credit score because capacity is a major factor, and if your capacity improves, your score improves.

Asking your bank for a credit limit increase on some of your cards isn’t suggested nowadays, this is a strategy that old credit repair people recommended but in today’s economy with the credit crunch, it prompts an account review, which for some quirky reason, may cause the banks to LOWER your credit limit. This would damage your capacity as well.

You are already disciplined enough to not spend on two cards. You are unique in today’s credit crunch world, use your discipline to your advantage, don’t close your accounts. You will be doing more harm to your credit score than good.

7 Questions to Ask Before Booking A DJ For Your Wedding

Scouting for an amazing disc jockey (DJ) for your wedding is not a stroll in the park since there are many things to put into consideration. However, before booking that DJ, he must be able to provide appropriate answers to the following questions in order to prove his competence.

1. Are you a full-time DJ?

It is important for you to know that the DJ you want to hire is not just a one-dimensional part timer who may not owe enough time to the job. He must be involved on a full-time basis with quality experience that cuts across various events. He must be a true performer that can handle tough audiences without stress and satisfy them.

2. How do you treat song requests?

You should engage a DJ that understands how to strike a balance between couple's song requests and those of the guests so that both parties are adequately satisfied.

3. How do you customize the music experience for each couple?

He should be able to provide a soundtrack for your wedding which is dependent on your taste, style and vision for the day. He should be able to willingly accept your must-play and do-not-play lists because you are supposed to be in control of the music that will be played on that day.

4. Can I hear some samples of mixing and blending of different tracks?

He should be able to blend between songs harmoniously to the point that you may not even be aware of it. There should not be artless silence between songs as this will make your party to be boring.

5. What sound equipment do you work with? Do you have back-up?

The equipment that a DJ makes use of is as important as musical instruments. His turntable, microphone, mixer, computer, etc., must be up-to-date in order to reel out the best mix for your party. It is also important to have back-up equipment to guard against unforeseen circumstances.

6. How do you get the crowd pumped?

DJs have a lot of baits to encourage guests to take on the dance floor. You can request for a video of past performances in order to gauge the skills of the DJ you want to hire in entertaining guests.

7. Why should I choose you as my wedding DJ?

Providing a satisfactory answer to this question will go a long way to prove that you are about to hire a competent DJ. He should be able to tell you what makes him unique in the industry and this will assist you in making a vital decision that will make your wedding successful.

The Importance of English and How It Can Affect Our Lives

English has become a global language and learning it has become extremely necessary for all of us. It is the most widely used language out of the 4,000 to 5,000 live languages ​​spoken in the world. There are a whopping 350 million native speakers of English. The use of English has become important in our day to day life and therefore a strong hold on the English language has become vital for the success of our lives. A fluent English speaker can expect a lot of things in his life. He can imagine a beautiful foreign girlfriend, a nice car, a lovely house and many more things. Above all, people show a lot of respect to a fluent English speaker.

English is an international language that most of the people are using all over the world. Some of the countries where English is spoken are United States of America, United Kingdom, Canada, India, Australia, Pakistan, Mauritius, Philippines, Singapore, South Africa, Sri Lanka etc. Just imagine how this language can help in communicating with people living in other countries.

Why should we learn English?

After Mandarin, English is spoken by more people than any other language. It is the international language of business, science, and technology, defense (armed forces), engineering, tourism and other departments. With the help of this widely used language, you can travel to different countries and can communicate with them easily. You would not need any translator for this. Moreover if your spoken English is fluent then a good job is waiting for you. People would accept you because of your public speaking abilities. Many of us lack confidence because we do not know effective communication skills but learning this widely used language would solve this problem and make you stand apart from the rest of the competitors. If you are planning to start a business then this language is a must. English is considered as the language of business and therefore proper business planning (especially globally) is ineffective without this language.

Nowadays, most of the multinational companies demand good communication skills in English and if you have the capability to do so then there would be no problems getting a nice job. A good job would mean a good life; a happy family and a respectable position in the society. Such is the power of English language.

How should we learn English?

There are many ways through which you can learn the basics of English Language. You can enroll yourself for spoken English course offered by many educational institutions. The course would make you spend a few thousand rupees but if you opt for English training online then that might be completely free of cost. Google would help you in finding a suitable English learning website. Search with keywords like "learn English", "learning English", "learn English free", "learn English free online" etc. Search results would show you lots of results, you can choose the one that offers the best tutorials and free resources.

Learning English Online

With the advancement of the internet and the popularity of the World Wide Web, learning online has become extremely easy. All you need to have is a computer system with a broadband connection. This would give you the power to access unlimited resources and tutorials for learning English. It is convenient because we can learn English from anywhere and there is no need to buy expensive books. These websites serve more as a library where you have access to tutorials, exercises, videos, other resources free of cost. Just spend 2-3 hours on a daily basis and you can be an expert in this language. Remember complete dedication and a good grasping power is what you require the most. You should be determined to learn English and this determination and zeal would help in making this task of learning possible.

How to Get a 700 Plus Credit Score With One Small Key Ingredient

Everyone wants a great credit score, but sometimes you wonder if it is possible. If you are wondering how to get a 700 plus credit score, then you are in luck. This article will help you understand your credit better, and show you how to get awesome credit!

First, it’s important to understand what makes up your credit score. There are three major credit bureaus that potential creditors will use to get info about you. These are Equifax, Experian, and Transunion. These credit bureaus collect info about you from those you have borrowed money from. The more times you pay your creditors on time, the better your score. They also measure the amount of debt that you have and how much of that is revolving debt (think credit cards). Too much revolving debt will lower your overall score.

Generally speaking a credit score above 700 is considered to be very good. This will entitle you to the best rates and the most respect. But, the holy grail of good great, a credit score above 700, is made all the more important in the credit driven society that we live in. A good credit score can mean that you can afford a bigger house or that great car you’ve wanted. It also gives you options and freedom.

Many people want to know how to get a 700 plus credit score. It is not as difficult as you might imagine. Even if you have made credit mistakes in the past, you can learn how to get it where you want. Start by getting on a reasonable budget. This allows to the freedom to allocate your funds properly so that you know that the money is there to pay your bills. And want to know the biggest secret to get your credit score above 700? Pay those bills on time! Anti-climatic, I know, but that is seriously it.

Another tip on how to get a 700 plus credit score is to keep your balances on your credit cards well under the limit. It is a good idea to owe less than half of your limit on your cards, and pay them regularly. When you are maxed out or even close on your cards, this signals to creditors that you are having financial trouble.

Finally, try not to apply for new credit if you don’t need it. Those store credit cards that promise to give you ten or fifteen percent off of your purchases may be tempting, but in the long run they can cost you precious points on your score. Limiting new credit inquiries is a key element in how to get a 700 plus credit score.

If you are looking for ways to skyrocket your credit, keep these tips in mind. If you keep to your budget, make your payments on time, and watch your balances, you can learn how to get a 700 plus credit score in no time.