Have you ever image how you could get your credit score up so that you could buy that dream house, new car and that new flat screen TV. Are you tired of being turned down for credit because your three-digit number is too low? What about being charged high inter rates. Well, rest assure because if you apply the four proven strategies listed below, I guarantee you will see results with an increase credit score.
Increase credit score tip 1 - Pull your credit report
You can start by removing errors from your credit report. While scanning your credit report, look for any inquiries that you did not authorize. Inquiries could lower your score as much as five points per inquiry. Get the creditor to prove that you gave them permission to pull your credit report, and if they can't prove it, then the inquiry must be deleted according to the law. You should also inspect your report for the following:
- Accounts that are not yours
- Trade lines that are incorrect
- Outdated debts
- Accounts with the mark of authorized user
- Credit accounts that were paid but still shows outstanding
- Credit limits that are not being reported
- Any errors that require dispute
- Unauthorized Inquiries
Increase credit score tip 2 - Pay your bills on time
Make a list of all of your debts and their due dates. Then type in the due dates into your computer and cell phone calendars with reminders made active. Use the Internet banking program, and your online credit card site to send you email reminders when your bills are due. In addition, you can set up your accounts to have the money automatically taken out at the due date. When paying your bills, you can pay them as they come in, use online banking or bill pay or through your financial institution web site. Using the various methods mentioned above will help you pay your debts. Making each payment on time raises your credit score.
Increase credit score tip 3 Pay down your debt
Put your debts in order from the card with the highest balance to the lowest. Pay each account down to 30% and keep it there to increase your three digit number. Finding money to help you pay down your debt may be difficult, but there are numerous ways to raise extra cash. You can have a garage sale, sell on Ebay, get an extra job, pull from your savings, borrow from friends, and cut your expenses. Any of these are an option.
Increase credit score tip 4 Don't close old accounts
Closing trade lines won't help. In fact, it will hurt your three digit number by reducing your total available credit and making your balances seem higher. It also makes your total credit look young, and the FICO model likes to see age on accounts because of payment history. Last, you want to keep the cards active by having a monthly bill debited from your card at the end of the month to avoid the creditor from closing your account due to lack of use.
Concluding, working to increase credit scores are a time-consuming process because of the many techniques you must apply to make the four strategies work. However, you may not need to use most of the methods to raise your score. So now that you are empowered with new education, go out there and get the financial things you want in life.
Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com |
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