Monthly Archives: September 2022

Tips to Increase Your Credit Score

Tips to Increase Your Credit Score

If you’ve ever had trouble getting a loan or been denied credit, chances are your credit score was an issue.

Credit scores are calculated based on your past behavior with financial institutions. The higher your score, the better your chances of being approved for new loans and credit cards.

If you have good credit, it’s important to take care of it! You can do this by adopting simple habits like always paying off your bills on time, keeping debt low (ideally below 30%), and avoiding late payments.

But what if you don’t have good credit? Are there any ways to raise your score? Let’s find out.

What is a Credit Score?

A credit score predicts the likelihood of timely loan repayment. Your credit score is gauged based on a few factors, most of which include your past payments like your:

  • Payment history
  • Debt
  • Types of accounts opened
  • Credit applications
  • Foreclosure
  • Bankruptcy

Tips for a Better Credit Score

If your credit score is lower than you’d want it to be, there are a few ways to boost it. Depending on what’s holding down your credit score, you can add a few points to your credit score by following these tips.

Pay Credit Strategically

Credit builds up fast. If you ignore your credit card balances, they will continue to add up. It’s a good idea to develop a strategy to monitor your credit balances. Of course, paying with a strategy comes with rewards.

There are a few things you can do to pay off your credit quickly to positively impact your credit score in the long run:

  • Pay more than what you owe each month
  • Try to make more than one payment every month
  • Focus on paying off your most expensive debt
  • Try to renegotiate your loan term to make it shorter

Aim for a Reasonable Credit Utilization

Most people aren’t aware that banks don’t commend you for spending your entire credit limit even if you pay it off on time. If you really want to build your credit score more quickly, you should only utilize 30% of your credit limit.

A good rule of thumb to remember is that you should aim to spend less than your total credit limit each month. This will make it easier for you to make timely payments while also building up a record of paying off your debt on time.

Ask for a Credit Limit Increase

If you’re unable to reduce your spending, consider asking for a credit limit increase. Keep in mind that this may only work if you don’t have any outstanding balances with the bank.

This way, it will look like you’re spending less, without really doing anything to change your spending habits.

Pay Bills on Time

Every bill or transaction should be paid on or before the due date. Late payments will only drag down your credit score further. Here are some things you can do to stay on top of your due dates and ensure that you don’t miss a payment:

  • Set account reminders
  • Automate your payments
  • Mark it on your physical calendar

Correct Credit Report Errors

The smallest mistake could pull your credit score down considerably. So, when you’re conducting a review of your credit reports, make sure you take note of any incorrect information. Mistakes happen, and it’s never a bad idea to contest them especially if they affect your credit score.

This is also a good opportunity to spot charge-offs, which you’ll want to work towards removing.

Why A Good Credit Score Is Crucial

Credit scores are the three-digit numbers lenders use to determine whether or not you’re a reasonable credit risk. Additionally, they look at your past payment habits and other factors, such as the type of accounts you have opened and how long they’ve been open.

A low credit score can make it harder to get approved for loans, mortgages, lines of credit, and more. A high credit score, on the other hand, may help you get approved for these products at a lower interest rate.

The higher your credit score, the better your chances of getting approved for a loan or credit card.

Increase Your Credit Score Today!

The tips we’ve outlined here will help you to improve your credit score and, in turn, make it easier for you to manage your finances and get the loans you need. If you are looking for a loan, consider using these tips to increase your credit score so that you can qualify for better interest rates and repayment terms.

How To Sell Your Old College Textbooks And Make Some Extra Money

sell Old College Textbooks

Apart from tuition, one of the major expenses college students face is their textbooks as well as course materials. In 2021, full-time, undergraduate students spent approximately $1240 on textbooks on average.

While this is an unavoidable expense, there are still ways to get your money back once you’re done using these textbooks. After the end of the semester, the piles of books in your cupboard are of no use to you plus it only occupies space. There is always a demand for used college textbooks and this can be a golden opportunity for anyone looking to sell their used copies.

Here’s what you need to know about selling your old college textbooks so you can make some extra money.

Maintaining the Condition of Your Old College Textbooks

Whether you had pre-planned or have just decided to sell your books, the condition of your books will play a major role in determining how much you’re able to sell them for. A buyer or a bookseller may refuse to entertain textbooks with doodlings or drawings.

Loose-bound books or books with missing pages and water and food stains will also not be accepted by most buyers. If your textbooks include supplementary materials like a CD, make sure you have those intact.

While the easiest way to avoid this is by using the books with care or trying to restore the books as much as possible. And since you may decide to sell your next batch of textbooks as well, make sure to keep them in good condition.

When To Sell Your Books

Typically, there is a higher demand for textbooks at the start of the semester, whereas there will be little to no demand at the end of the semester.

Generally, there is a major drop in the book value during summer and the demand shoots up once school reopens. So, aim to sell the old textbooks before school begins.

Keep in mind that the book value decreases over the years and can reduce significantly if new editions are released by the publishers.

Best Ways to Sell Your College Textbooks

Once you have ensured that your books are in good condition and have decided when you will be putting them up for sale, you have multiple options for selling your books.

1. Sell Directly To Students

The easiest way to sell your old college textbooks is to sell them in person to students. When you decide to sell them directly to a new student, your potential customers are mostly your juniors. You can advertise your textbooks through word of mouth or by putting up a notice in your dorm or on social media accounts like Facebook.

As for pricing your books, you can find out the average price at which your nearby stores are selling used copies and lower your price by a few dollars. This will ensure that you get more money as you will be cutting out the middleman and selling directly to your customers. You will also be charging less than bookstores.

2. Selling To A Bookstore

Many bookstores tend to buy back used college textbooks. In this case, however, there is a middleman involved so you will get a lower price for your books.

It is a very convenient way to sell your books that will also get you hard cash in hand. However, selling your books at a bookstore most often gets you the lowest price compared to any other method.

3. Selling Online

A lot of students prefer buying second-hand textbooks online, so this is an effective way for you to sell your books. Here are some of the most popular sites where you can sell your old college textbooks:

  • Amazon
  • eBay
  • Decluttr
  • BookByte
  • BookDeal
  • GoTextbooks
  • Cash4books

How It Works

Selling your books online is typically a fairly simple process.

You will have to look up your textbook’s ISBN (International Standard Book Number). Once you have that, enter the ISBN on the site and you will receive a quote for the books. You can then decide whether or not you want to sell the books to that site.

If you decide to sell your books, you receive a prepaid shipping label that you can get printed and ship your book to them. Some sites may require you to pay the shipping fee.

Make sure you provide correct information about the condition of your book. If your books do not match the description you have given, there is a very high likelihood that the books will be returned to you.

Selling online will get you the best price for your book as you can compare quotes from different sites and select a site that’s giving you the best deal. However, it is also the option that requires the most effort on your part.

Conclusion

College textbooks have a decent resale value. And though there are a number of ways to sell your old college textbooks, ideally, the best option is the one that gets you the highest price for your books with the least hassle.

Make sure you maintain the condition of your books and sell them at the right time to increase your likelihood of turning a profit.