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Over 1,000 Windows 95 Programs
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Over 1000 Windows 95 Programs (Microforum) (Disc 2).iso
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eckw_i03.fi_
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eckw_i03.fi
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Text File
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1997-04-14
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5KB
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110 lines
In this section you will learn of some simple changes on
your loan and credit applications that will increase your
chances of approval 300%!
** Before you read this section we suggest you go to the 'TOOLS'
menu bar from the main screen and select 'Loan App Pre-Screen'
and rate your loan application knowing what you know now about
filling out a loan or credit request application. Then after
completing this section rate your application again and compare
the results of the two.
The following information is absolutely vital if you are
going to collect lots of credit cards to use for investing
purposes. About 75% of all submitted credit applications are
turned down because the applications are not completed and
correct. Y'see, when you submit a credit or loan application
they grade them as if it was a written test. each line gets a
certain number of points. The loan officer just adds them up to
determine if you pass or fail. As long as you take care of your
credit accounts in the proper manner and make your payments on
time you will have no problems with the banks. But it's still a
good idea to to have your application get as many points as
possible. The idea is not to blatantly lie but rather to
stretch the TRUTH as thinly as possible! The reason for this
is because the point system is way too strict. You need to
ensure your approval any way you can. Here is a list of tactics
that if employed properly will triple the points that you get
on an application. This list assumes that you are applying
for an unsecured major credit card. However, these tricks work
great in any credit/loan situation.
+------------------------------------+
Loan Application Tactics
+------------------------------------+
1. You need to find out which credit bureau the bank uses and
get a copy of your credit report. (This is something you should
have already done) Make sure to remove as many derogatory items
as possible. Also remove all the inquiries that did not result
in the creation of credit or a credit card before you apply.
2. Pick a bank that is promoting for business. These banks are
usually the most lenient.
3. If you have a telephone listed in your name then great! Get
an answering machine and have it on the line always. If you
don't have a phone line in your name then you need to get one.
4. While filling out the application, match your credit picture
to the banks minimum requirements if you know what they are.
Within this program is a list of dozens of banks and
institutions.
5. If you can, type your application. Typing gives your
application the appearance of "perfection"! This is important.
If you can't type it be sure to print very, VERY neatly.
6. Make sure you have both, personal savings, and checking accounts.
7. Go for a low credit limit of $500.00 - $1000.00 and let them
offer you more.
8. Never put a previous address on your application. Have your
app. suggest that you have been at your current address for at
least two years.(if not more!)
9. Never imply that you are self employed. If you are then just
say who you work for even if it's your company.
10. "Debt to income" ratio; This basicly means how much of your
income is spent each month. This can be no more than half(50%)
of what you earn. EX: If you make $1200 a month then your debts
can be no more than $600. This is very important, the more income
you show that you have to spend the better your chances are for
approval. You may have to do some figuring with your budget to
make this work out. I know you can do it though!
11. Never volunteer or admit to having a job for less than one
year. This one thing could ruin your approval chances all by
it's self.
12. Make your income figure as high as possible without getting
too carried away.
13. Give yourself the best sounding job title that you can think of.
The more professional it sounds the better!
14. List as few dependents as possible. No more than three.
15. List your credit references that appear on your credit bureau
file. This way they match up with the ones on your app. Also,
add any credit cards or bank loans that are not listed and are
in good standing to your credit report. The forms for this are
available with registration of this software.
Now with all this new information that you have learned it is time
put your credit app to the test. From the 'TOOLS' menu on the main
screen choose 'Loan app Pre-Screen' and re-do your loan app and see
if your score improves.
Well, that's it. These fifteen tips will definitely help in
getting your next application approved! Good Luck!!!