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Top 5 Bad Credit Fixes

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There are 5 common ways to fix your bad credit. Although some people may not be aware of them, these methods are nothing new and have been around for quite some time. The following is a list of the top 5 ways to fix your bad credit:

  1. Make Payments on Time
  2. Increase Available Credit
  3. Pick 1 credit card to focus on.
  4. Pick 1 thing you can live without.
  5. Stop using credit.

Why you should make credit card payments on time

There are many lenders (auto, mortgage and credit card companies) that access your credit history before making a financial decision on your behalf. One category that always gets a good looking over is your payment history, because it shows the lender how responsible you are with making your payments and making them on time. The good is if you have missed a payment here and there it is not a huge deal but if you miss payments a few cycles in a row that is not good. It is like when you are interviewing for a job and they call your last employer and they find out you were late quite a bit. On the other hand if you were late to work once every 2 months it won’t be mentioned. Same principal for making payments on time with your credit cards.

In addition, when you miss a payment you become subject to a few issues with credit card companies. First, your credit card will attach a late payment fee and in some cases they may give you a penalty interest rate. As if your life is not already hard enough, obviously there is a lot going on if you missed a payment. Then they add insult to injury with this punishment. Also you become subject to universal default where other credit cards can legally penalize you for missing a payment on a totally different card. This is not the make a bad choice and only the witnesses find out scenario, everybody finds out.

Why you need to increase your available credit

Your goal is to get out of debt and fix your credit score. You can begin working towards this by increasing your available credit. The amount of available credit is what makes so many people have bad credit scores. They have literally used up more than 70% of their available credit (for example your credit limit is $2,000 and you have $200 available). This hurts your score so much because it shows the lenders and/or credit card companies that you do not have enough cash and you need to rely on using your credit card. So, if you pay down your balance and increase your available credit, you send a different message to credit card companies. Eventually, your available credit increases in 2 ways: by you paying the balance down and the companies will usually extend your credit line while your paying down your balance and based on how long you have had the line of credit.

Why you need to pick 1 credit card to focus on

It happens all the time, people get motivated and do drastic things that are not helpful in the long run. For example you commit to losing weight and you exercise for 2 hours the first 2 days, but by day # 3 you are sore and exhausted so you stop working out. This happens with paying off credit cards. People get extra money and instead of paying off 1 card they make payments on 3 credit cards. Although they reduce the balance on all of them at the end of the day they still have 3 credit cards instead of the 2 they would have by focusing on 1 card at a time.

Why you need to pick 1 thing you can give live without

Getting out of debt is about sacrifices and not wasting money. Some people have to keep up with the latest trends and place themselves further in debt. I have done it too and then it hit me by iPhone 6s plus. I was buying new iPhone after new iPhone and then I realized I do not have 1 iPhone that is not in mint condition. They all can play the same games, display the same apps etc. so I am wasting money buying a new iPhone every release. I won’t buy the iPhone 7!

Another example is coffee, I learned that kcups are not economical they are just quick and convenient. I also learned that $2.50 for a venti at Starbucks every day is of $14.00 and a 32oz bag of Starbucks Dark Roast is 17.00 at BJs. Before I learned about BJs I was paying the 2.50 but I thought I was doing it right because I was using my cash back debit card! However, the Bjs bag is much more economical.

Why you should stop using credit cards

I increased my credit score (FICO score) tremendously a few years ago just by not using my credit cards for a few months. I recently wrote a blog about it because it was around this time a few years ago where I noticed the big bump in my credit score, I had finally joined the 700 club! Additionally, the interest on credit cards even if it is low is ridiculous. In my state we complain all the time about taxes on products, well credit card interests rates are a bit higher than taxes. Lastly, if you do not pay off entire balances by the end of promotional periods your balance nearly doubles.

Bonus #6 Hire a Credit Repair Agency

Here is a bonus the number 6 way to fix bad credit is to hire a credit repair agency. By law you are entitled to a free consultation from credit repair agencies. According to the Federal Trade Commission (FTC) the Credit Repair Organizations Act requires consumers of credit repair services to receive a copy of their legal rights and it protects customers from being charged prior to services being performed. The resources on this page will elaborate in more detail about this law.

In closing using the methods listed above will certainly help anyone’s credit score improve. Making Credit Card Payments on Time, Increasing Available Credit, Picking 1 credit card to focus on, Picking 1 thing you can live without and Not using credit cards are the most commonly used ways to fix bad credit. When in doubt contact a credit repair agency and make sure you understand the terms that you are agreeing to.

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TA: Ethereum Lacking Bullish Momentum, Why ETH Holders Are Safe

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Ethereum

Ethereum started a steady increase above $3,050 against the US Dollar. ETH price could correct lower, but the bulls might remain active near $3,000 and $2,950.

  • Ethereum extended its increase above the $3,100 and $3,150 levels.
  • The price is now trading near $3,100 and near the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower towards $3,000 or even $2,950 in the near term.

Ethereum Price Is Losing Pace

Ethereum started a steady increase and settled above the $3,000 level. ETH even broke the $3,100 level and settled above the 100 hourly simple moving average.

It traded as high as $3,173 and recently corrected lower. There was a break below the $3,150 level. Besides, there was a break below a key bullish trend line with support near $3,150 on the hourly chart of ETH/USD.

Ether is now trading near $3,100 and near the 100 hourly simple moving average. It is still trading well above the 23.6% Fib retracement level of the upward move from the $2,651 swing low to $3,173 high. An immediate resistance on the upside is near the $3,150 level.

Source: ETHUSD on TradingView.com

The first major resistance is near the $3,180 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could start another steady increase. The next major resistance might be near the $3,320 level. Any more gains may possibly open the doors for a move towards the $3,500 level in the near term.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,150 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,050 level.

The next major support seems to be forming near the $2,950 level. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,651 swing low to $3,173 high at $2,912. A downside break below the $2,900 support zone could put a lot of pressure on the bulls.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now close to the 50 level.

Major Support Level – $3,050

Major Resistance Level – $3,200

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Will Crypto Market Aim For the Moon, After The Current Fall?

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Will Crypto Market Aim For the Moon, After The Current Fall?
  • Many cryptocurrencies hit record highs in April.
  • Few analysts believe this crash will eventually be overlooked.

With a new all-time high for Bitcoin, legislative discussions that may affect the sector, and more institutional buy-in from large businesses, the cryptocurrency market has gone through so much this year. Despite this, interest in Crypto has soared this year.

But the sector is young and growing. Long-term trends are difficult to forecast, but experts will focus on topics like regulation. Also, institutional crypto payment usage in the next months to better understand the industry.

This month’s crypto market collapse saw several major digital currencies decrease in value. Bitcoin, Ethereum, and other popular cryptocurrencies lost value in the recent market collapse.

Many cryptocurrencies hit record highs in April, with Bitcoin hitting over $50,000 before major falls during the summer.

According to Coinbase, Bitcoin’s value has increased 335.91 percent in the past year, despite the crypto collapses of May 19 and June 8. The total price is now far below the mid-April highs, but well over the same time last year.

In 2021, mainstream businesses across sectors showed interest in cryptocurrencies and blockchain. And some even invested. According to AMC, Bitcoin payments will be accepted before the end of this year. PayPal and Square, for example, are betting on Crypto by enabling consumers to purchase on their platforms.

The market wants to climb to the moon, according to Twitter Crypto Analyst and co-Founder of @PACcoinOfficial David Gokhshtein.

David’s Tweet:

Future of Crypto

Many analysts believe this crash will eventually be overlooked, and new highs will be made following the wide-adoption rate of Crypto in all sectors. 

NFT sales soared in August, according to the biggest platform for the burgeoning digital asset class, as investor’s wagered increasing interest in the arts, sports, and media. Many people, puzzled as to why so much money, spended on things that do not exist physically.

The demand and craze for the Crypto and increasing upgrades to DeFi. Along with nations starting to approve Crypto as a legal tender, shows the future of Crypto has a long way to go, and one can predict moon is not too far for the crypto market.

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TA: Bitcoin Revisits $45K, Why Dips Turn Attractive In Short-term

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Bitcoin

Bitcoin price extended its increase above the $44,000 level against the US Dollar. BTC traded close to $45,000 and it might correct lower in the short-term.

  • Bitcoin started a recovery wave above the $43,000 and $43,000 resistance levels.
  • The price is now trading above $44,000 and the 100 hourly simple moving average.
  • There is a key rising channel forming with support near $44,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct lower towards the $43,500 support zone and the 100 hourly SMA.

Bitcoin Price Extends Increase

Bitcoin price started a decent increase above the $43,000 level. BTC remained well bid and it managed to clear the $44,000 resistance level plus the 100 hourly simple moving average.

The price even climbed above the $44,500 level and traded close to the $45,000 level. A high is formed near $44,934 and the price is now correcting lower. There was a break below the $44,500 and $44,400 levels.

An immediate support is near the $44,300 level. There is also a key rising channel forming with support near $44,250 on the hourly chart of the BTC/USD pair. The pair is also well above the 23.6% Fib retracement level of the recent wave from the $39,580 swing low to $44,934 high.

Source: BTCUSD on TradingView.com

On the upside, an immediate resistance is near the $44,800 level. The first major resistance is near the $45,000 level. A clear break above the $44,800 and $45,000 levels could start another increase. The next major resistance is near the $46,200 zone, above which the price could rise towards the $47,000 resistance.

Dips Limited In BTC?

If bitcoin fails to clear the $45,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $44,300 level.

The next major support is near the $44,250 zone and the channel trend line. A downside break below the channel support could lead the price towards the $43,500 support zone or the 100 hourly simple moving average. Any more losses could lead the price towards the 50% Fib retracement level of the recent wave from the $39,580 swing low to $44,934 high at $42,250.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still above the 50 level.

Major Support Levels – $44,250, followed by $43,500.

Major Resistance Levels – $44,800, $45,000 and $46,200.

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Bitcoin.org Hacked By Scammers For A Few Minutes. Someone Sent Them 0.4 BTC

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Bitcoin.org hacked website

Hackers took over the Bitcoin.org website and displayed the classic double your money scam for a few minutes today. Apparently, it was a DNS hack. Luckily, the Bitcoin community took notice and alerted Cobra, the pseudonymous website owner, as well as the company that hosted the domain. A few minutes later, Bitcoin.org was down. Sadly, a credulous person was faster than them and sent 0.4 BTC to the displayed address… or did he?

The transaction exists, but there’s a rumor that it might’ve been the scammers themselves, trying to make the operation look reputable. Just like a busker who put some change in his hat to encourage others to contribute. However, that’s just a rumor. Someone might’ve been scammed.

Related Reading | Old Bitcoin Miner Proves Craig Wright has No Access to 145 Tulip Trust Addresses

In any case, everybody else should thank Matt Corallo, a Bitcoin Core contributor who took it upon himself to contact the domain name registrars and managed to convince them to temporarily take down the site before some catastrophe happened. 

What Does The Bitcoin.org Owner Think About All Of This?

When Cobra announced the Bitcoin.org hack, he or she said, “Currently looking into how the hackers put up the scam modal on the site.” So far, there’s no information on that. Cobra also said that Bitcoin.org “May be down for a few days,” but luckily that wasn’t necessary.

Earlier in the day, Cobra contacted via Twitter their new hosting company Cloudflare and told them that the website has never been hacked, and now that he moved to their servers, this happened. The company responded, and eventually, the original tweet disappeared.  

BTC price chart for 09/23/2021 on Bittrex | Source: BTC/USD on TradingView.com

Does This Have Anything To Do With Craig Wright AKA Faketoshi Nakamoto?

A few months ago, both Cobra and Bitcoin.org made worldwide news. Craig Wright, Australian entrepreneur and Satoshi Nakamoto cosplay artist, got a UK court to order the website to remove the Bitcoin Whitepaper from its servers. At the time, Yahoo! finance informed:

“Cobra, the pseudonymous creator of the Bitcoin.org website, has been ordered by London’s High Court to discontinue hosting its copy of the Bitcoin white paper.

Citing copyright infringement brought forward by nChain Chief Scientist Craig Wright, the judge had no option but to rule a default judgment because Cobra chose not to make an appearance.”

Does the hack have anything to do with Craig Wright? There’s not a single clue to indicate that, but, rumors are flying. He’s the only one incentivized to attack Bitcoin.org, they say. However, 0.4 BTC is a pretty great incentive. Maybe the scammers were just interested in scamming.

Related Reading | Craig Wright Wins Lawsuit On Bitcoin.org Hosting Bitcoin Whitepaper

In any case, to close all the loops, Yahoo quotes Cobra explaining why he chose not to make an appearance in court:

“Unfortunately the court rules allowed for me to be sued pseudonymously, however, I couldn’t defend myself pseudonymously. So I was put in an impossible situation of losing my privacy or losing the case in a default judgment.”

So, to sum it all up, Bitcoin.org is back up again and no one scammed you. All is well that ends well. 

Featured Image: Screenshoot from the hacked website | Charts by TradingView

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Bhutan Partners With Ripple to Deploy Central Bank Digital Currency (CBDC)

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Bhutan Partners With Ripple to Deploy Central Bank Digital Currency (CBDC)