Tag Archives: report

Ways to improve your credit score rating

September 18, 2019   Home Mortgage

Have you ever bothered to have a look at your credit score? Most of us are not even aware about the importance of maintaining a healthy credit score. If your credit report has a bad credit score rating it’s the time you start to improve your credit score rating.

Credit score is just a three digit number but it has a great importance especially when you’re thinking for applying a loan. Bank and money lenders check your credit score rating to judge your credit worthiness. Thus it becomes very much important to maintain a healthy credit score and report.

Improve credit score is the best way to extend credit facilities. One of the best ways to improve your credit score is credit score repair. Credit score repair can help you eliminate any bad or negative remarks in your credit report. In order to improve your credit score you can also ask for online credit reports and score that can cost you a small nominal fee. In short improving credit score means increasing your credit score.

Negative remarks require certain time to cease from your credit report. For example, bankruptcy exists for 10 years on your credit report whereas other negative remarks prevail for 7 years. Usually credit score ranges from 300-750 but average credit score lies within 600-750. In order to have good credit score a person must score above 700.

It is obvious that person with bad credit finds credit limitations whereas person with good credit has credit flexibility. Concerning the growing importance of credit in modern business one must understand his responsibility to improve it.

Below are some of the guidelines that can help you to improve your credit score.

• Pay your bills on time or on due date.
• Assure that you do not apply for credit too often. Maintain time limit to apply for credit. Too many and frequent inquiries can lower down your credit score.
• Don’t open too many unnecessary accounts. Remember a zero balance account is taken into consideration
• Assure that you open only necessary accounts.
• Any balance in the credit card must be paid completely.
• Assure that you check your credit score periodically at least once in six months.
• Try to increase or raise your credit score rating to obtain better credit.

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Fixing Your Credit Yourself

September 9, 2019   Loan Tips

Fixing your credit yourself doesn’t have to be as hard as it’s made out to be. If you’ve been turned down a few times because of your low score it’s easy to start feeling like you’re doomed forever, but the truth is that there are many small changes you can make that will have a huge impact.

Before you can do anything you need to get a copy of your credit report, which you can do free (once a year) online. Your score is calculated based on information in this report, so you’ll need this to know what you need to work on.

Probably the biggest thing you can do to help yourself, that takes a bit more effort and time for most, is to pay down any balances you have open. This will go a long way towards fixing your credit. Of course, many don’t have the option to do this immediately, but over time this is the best thing you can do to help yourself.

Once you have your report the first thing you’re going to want to do, because it is the easiest and fastest, is check over your report for mistakes. We’re not really interested in things like misspellings of your name, we’re looking for accounts you have paid off in full marked open, or overdue. An important factor in calculating your score is the ratio of the credit you’ve used, versus that which is available to you. Look at where your card limits are listed and check to see if they’re correct, if they are marked as lower you’ll want to have this fixed. Any mistakes you find you can call and ask companies to change them, if they’re unhelpful keep calling until it gets fixed.

As a general rule, on a month to month basis, I recommend using less than thirty percent of your limit on your cards, and paying them off in full each month. This will give you a healthy record of using your finances sparingly and carefully.

While there, of course, more things you can to help fix your credit yourself, these steps will give you a good running start.

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