Improve Credit Score tips

Submitted by rssmith375 on Mon, 08/16/2010 - 12:25
Forums

Avoid Some Common Mistakes
Review your all credit reports from all possible credit bureaus for accuracy once a
year as well as several months before applying for a loan. Try to get your credit report from the three major bureaus: Experian, Trans Union and Equifax.

Pay bills on time
Your payment history makes a major percentage of your total credit score.
Paying your bills on time is the best way to get your credit score raised.

Try to reduce Credit Card Balance
Always try to reduce your credit card balance.

Keep the old account Active
Closing your old accounts can hamper your credit history and it makes you less credit worthy.

Avoid Bankruptcy
Bankruptcy will lower your credit score by 200 points or more and is very hard to come back to initial score.

You may get more information from
Loan Information, Articles and Resources

Hi rssmith,

Thank you so much for sharing the tips. However, feel free to check out the article on improve credit score available with this community.

Getting a secured credit card will also help you in improving the credit score. You can use it to make purchases, and then make on-time payments on the card.

Another quick fix for the credit score is getting added as an authorized user on somebody else's account. That person's good score will add up to your's once the account gets added on to your credit report.

Thanks,

Aaron

Tue, 08/17/2010 - 06:59 Permalink