Credit Mortgage


Main Menu
Home
Credit Basics
Your FICO Score
Poor Credit
Improving Your Credit
Identity Theft
Credit Reports
College Students

Credit Cards
Auto Loans
Mortgages
Credit Bookstore

"24Biz-Company" -
24 hours payday loans.




Improve Your Credit in Four Easy Steps

Damaging your credit score probably happened over a period of time and you had no idea how your bad behavior was affecting your credit. Then came the day you wanted to buy a new home or car, or even apply for a particular job, and a credit check revealed your credit was poor and you were a high credit risk. As a result, most businesses don’t want to give you credit because you are deemed uncreditworthy. However, while this may seem hopeless you can remove yourself from this situation and improve your credit rapidly with three easy steps.


Improve Your Credit in Four Easy Steps

Damaging your credit score probably happened over a period of time and you had no idea how your bad behavior was affecting your credit. Then came the day you wanted to buy a new home or car, or even apply for a particular job, and a credit check revealed your credit was poor and you were a high credit risk. As a result, most businesses don’t want to give you credit because you are deemed uncreditworthy. However, while this may seem hopeless you can remove yourself from this situation and improve your credit rapidly with three easy steps.

Credit Repair Tip #1 Make Your Payments on Time
Making your payments on time is one of the most important things you can do to improve your credit. And while the exact formula the credit bureaus use to calculate the FICO score are unavailable, they do inform individuals that making payments on time weighs heavily in the equation. So, even if you can’t pay the full balance off every month make sure you make a payment on time every time. If you don’t you will not only further damage your credit but will also increase your debt due to late payment charges.

Credit Repair Tip #2 Reduce Your Debt
If your credit cards are all maxed out then your available credit is very low if it exists at all. As a result, your credit score will be lowered because you have used up almost all of your available credit lines. To improve your credit start reducing your credit card debt and increasing the numbers between your credit limit and what you actually owe.

Credit Repair Tip #3 Don’t Close Old Accounts
If you pay off a credit card and decide you don’t want to use it anymore due to the interest rate or whatever reasons don’t close the account completely. The reason for this is established credit accounts on your credit report increase your score as well as zero balances. So, keep the account open and the balance at zero and your credit score will benefit.

Credit Repair Tip #4 Request Copy of Credit Report
Your credit report, which is created by three different credit bureaus, determines your credit score. As a result, it is important for you to regularly check the information on your credit report to ensure all is accurate. If not, make sure to request the inaccurate information is removed. Once removed your credit score will increase.

There are of course many other credit improving actions you can take, but require a bit more effort and time. The most important thing you can do is take a look at your credit report, make sure all information is correct, dispute any information that is not accurate, make your payments on time and reduce your credit card debt to credit card limit ratio. By doing this you will be developing good credit habits and over time your credit will increase accordingly. Also, keep in mind that negative information can stay on your credit report for up to seven years, so the faster you get your credit under control the faster you will be able to enjoy a high credit score.

See: Improving Your Credit is Easier Than You Thought



home | Credit Basics | College Credit | Credit Reports | Identity Theft

 







© 2018 - Credit-Mortgage-News.com