Ways to Improve Credit Score
Author: Jennifer QuilterNo matter where you fall on the scale there are ways to improve credit score that can make a real difference in your options.
The first thing you want to do is get a copy of your credit report, which you can do free online. This won't include your rating, they are different things, but your rating is calculated based on the info in your report.
Look over your report for any errors. Accounts you paid marked as open or overdue, incorrect credit limits on your cards, or items over seven years old that are still on your report because they should have fallen off. Call the appropriate companies and try to have these things fixed.
If there are any late payments that you made a while back with a company that you are still doing business with and have since always been on time you can ask for a “good will adjustment”. You usually need to write a letter to the company to do this. They basically forgive the late payment, which helps clean up your report.
Even without actually fixing things there are ways to improve credit score.
Probably the biggest thing you can do is pay down your card balances. An important factor is the amount of credit available to you versus the amount you are using. Having low balances on your cards helps with this a lot.
As a general rule it is good to use less than 30% of your limit each month and pay the balance in full each month. This is a good habit to get into, both for your score and to keep you out of getting into debt.
Another factor is the age of your accounts. It helps to establish a long history of healthy financial behavior. If you have any old accounts that are still open, but you haven't used them in a while, dust them off. Use them lightly as I explained above.
These things will give you a quick boost short term, but when done over a long period can have a huge effect. Follow these regularly as ways to improve credit score constantly.
About the Author:For more information on the Credit Score Scale and what all those numbers mean, check out the Credit Score Range.
Article Source: ArticlesBase.com - Ways to Improve Credit Score
