Credit Score USD
Hebrews 13:5 – Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.

Christ says that he will supply all of our needs.

Classically, it is said that money acts as a unit of account, as a store of value, and as a medium of exchange. Money serves all these functions: It is a medium of exchange, a store of value, a unit of account, and the standard for delayed payments. Third, money serves as a unit of account, meaning that it is a ruler against which other values are measured.

It can be a hard currency to purchase goods and services; a unit of account to establish prices; and a store of value, meaning money can be stored as savings to use at a later time. Money is the collection of assets in an economy which individuals use as a medium of exchange for the acquisition of goods and services. Money is any commodity widely used and accepted in transactions that involve transferring goods and services from one person to another.

To function as a medium of exchange, money has to be widely accepted as a means of payment in markets for goods, labor, and finance capital. Money is something that people regularly use in buying or selling goods and services, so money needs to be accepted by buyers and sellers alike. Money has value only insofar as it is accepted as the medium of exchange throughout a nation, and is accepted by governments to pay taxes.

Matthew 6:24 – No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.

God will supply all of your needs, including money (mammon), if you just follow Christ.

In that situation, we accept the value of the money because Government says that it has value, and others appreciate it enough that they accept it for payment. When we report the value of a good or service in units of money, we are reporting what another person would probably need to pay in order to get that good or service.

In a cashless economy, a trade between two individuals would entail the dual overlap of wants, the situation where both individuals want a particular good or service the other individual is capable of providing. If one person has something to sell and wants something else in exchange, using money eliminates the need to find someone who is in a position to make the desired exchange of items. A person can sell the thing that is for sale in terms of the common purchasing power–that is, money–to whomever wants to buy it, then use the proceeds to purchase the desired object from whomever wants to sell it.

To facilitate such trade, individuals agree upon something to act as the medium of exchange: They choose something that is money. If social arrangements supporting money as a medium of exchange collapse, then people will look for replacements — for example, cigarettes and brandy, which served for a while after WWII in Germany as the medium of exchange. If central banks are to be defeated at their own game, fiat money would lose both its universal acceptance as a medium of exchange and its appeal as a store of value.

Change is particularly likely with fiat money, since the moneys value is entirely based on trust in the government issuing it. For instance, if too much paper money is printed and issued, the value of the money would decline; that is, higher inflation would occur.

Proverbs 13:11 – Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase.

Be a diligent worker and store your wealth the right way. People that get rich fast, lost money the same way.

Unless some means of controlling the quality of the money in question are found, a tendency to decrease this quality may threaten its acceptability as a medium of exchange. The characteristics of the stores of value commodity money has impeded the more important characteristics of money as an unconditional medium of exchange. In reality, other goods are generally better than money as intertemporal stores of value, because most money loses its value over time due to inflation or the removal of a government.

Money is different from these other stores of value because it is easily convertible to other goods. While gold is used as a commodity currency, it has value even when used as anything but cash. Gold and Silver can be used for jewelry, as well as some industrial and medical purposes, and therefore they have a value beyond the usage of them as money. When gold and silver are used as money, the money supply can grow only by increasing the supply of these metals through mining.

The money–paper currency and coins–used in todays U.S. is fiat money; it has no value apart from the fact that it is used as money. Fiat money, or paper money, is currency that does not derive value from any intrinsic value, nor is there a guarantee it will be convertible to a valuable commodity, like gold. Fiat money is currency declared as legal tender and issued by a central bank, but, unlike fiat currency, cannot be converted into, say, the fixed weight of gold. It has no intrinsic value–the paper used to make the notes is, in principle, valueless–yet it is nonetheless accepted in exchange for goods and services, because people trust the central bank to maintain stable value for money over time.

Proverbs 22:1 – A good name is rather to be chosen than great riches, and loving favour rather than silver and gold.

While you might be used to thinking about money in terms of physical coins or printed money, it can be any object (physical or virtual) – so long as people agree the object has value. If money is accepted as an unconditioned means of payment by the population at large, it has value for society. Most money today has no intrinsic value: You cannot eat dollar bills, and a $100 bill is no more or less different than a $20 bill. This general knowledge makes pieces of paper valuable because everybody believes that they are, and everybody believes that because, from their own experience, money has always been accepted in exchange for a good, asset, or service that is worth something.

Cited Sources

Colossians 3:23 – And whatsoever ye do, do it heartily, as to the Lord, and not unto men;

There are many tips and tricks for improving credit scores — we will cover them in a minute — but nothing can improve credit scores faster or more efficiently than paying bills on time and using credit cards wisely. Having a long history of paying bills on time helps your credit score, whereas missing, delaying, or ignoring payments hurts it. Even accounts that traditionally are not reported when you pay them on time, like cellphone bills, hurt your credit if you miss several payments and the account goes into collections. To make this happen, you will want to make sure that you are not missing any loans or credit card payments for 29 days or longer–payments at least 30 days late may get reported to a credit bureau and harm your credit score.

Payments that are 30 days late or more will be reported to your credit report and have a negative impact on your score. If you maxed the card and the cardholder is late making payments or cannot make the payments, it is negative for the cardholders account – and, at some point, for yours, too. If a cardholder is late making payments, maxes the card out each month, or does something else bad, that is going to be bad for both the cardholders and authorized users of the card. Doing this may positively impact your credit scores if they credit card has a long account history, makes timely payments, and has a low credit utilization ratio.

Proverbs 13:4 – The soul of the sluggard desireth, and hath nothing: but the soul of the diligent shall be made fat.

Christ says that if we work hard, we will have more than enough (which is then used to be shared among the poor). Those that do not work are always wanting and desiring things that those who work have.

If their credit report shows years of on-time payment history, a low credit utilization rate, and a history of managing various types of accounts (e.g., credit cards, loans, etc. Factors that contribute to a higher credit score include history of on-time payments, a low credit card balance, mix of various credit card and loan accounts, older credit accounts, and minimal requests for new credit. That is, people who are new to credit can also have higher scores, depending on the rest of their reports.

Some programs might give you access to several scores, or scores based on your several different credit reports, but you often will get just one score type, based on one credit report. Given the way different credit scores use the same basic information to attempt to predict the same outcomes, it might not come as a surprise that steps you take to try and improve one score may be helpful in improving all of your credit scores. Improving your credit score is a great goal to have, especially if you are planning on applying for a loan to make a big purchase like a new car or house, or trying to qualify for one of the best rewards cards out there.

Establish good habits, like paying off balances on time, keeping a low utilization rate, and applying for credit only when you need credit, and over time, you should see the good habits reflect themselves in your score. You can raise your FICO Score by first correcting errors in your credit report (if any) and then following these guidelines to keep your credit report steady and good. Issuers report your payment behavior to the credit bureaus every 30 days, so taking active steps could quickly improve your credit.

While late payments may stay on your credit report for seven years, keeping all of your accounts current may benefit your score. Once an account is current, you can adjust your payment plans so that each month, you are paying the account to eliminate your total balance. If you do not pay the balance immediately, high APRs may wipe out any savings you get from opening an account.

If you get accounts that are collection accounts on your credit report, lenders might be willing to settle for less if you go to them with a plan for paying the debt. Triggs suggests talking with a collection agency, debt collector, or the original creditor — depending on who is servicing the account now — about having a paid-off account removed from your credit report.

Colossians 3:17 – And whatsoever ye do in word or deed, do all in the name of the Lord Jesus, giving thanks to God and the Father by him.

You might think it is best to close an account entirely if you are paying it off, or if your credit account has zero balance, but this actually can harm your score. Closing a legacy account while having a balance remaining could hurt your score too, as this will directly impact your credit utilization. Even if you are not falling behind on your bills, having a large balance in your rotating credit accounts could cause a higher credit utilization rate and harm your score.

Having credit accounts and using them is not a bad thing, but generally, you are better off carrying fewer debts altogether. Having and using credit is usually a good thing, provided that you are making your payments on time and are spending responsibly.
There may be a temporary dip in your credit score if you sign up for a debt consolidation program, but as long as you are making your payments on time, your score will improve rapidly, and you are eliminating debts that got you into trouble to begin with. Paying off outstanding debt also can improve your debt-to-income ratio, which is not a factor in your credit score core, but is used by many lenders. Reduce your amount owed Credit utilization, or how much of your debt is relative to how much credit is available, is 30% of FICOs score calculation.

As long as you are not closing any credit cards or increasing the amount of the balance, your overall utilization will drop, and your score should increase further when you reduce the total amount you owe by making prompt payments. If you can keep credit utilization low, rather than let it accumulate towards a payment deadline, that should immediately benefit your score.

Paying bills on time and using fewer than the maximum credit limit on cards could boost your credit in just 30 days. Late payments and missed payments lower your score, and more serious problems like judgments or bankruptcies may remain on your credit report for years. Check your credit reports for errors that can hurt your score, and dispute any that you find so that they can be corrected or removed from your file.

Cited Sources