How to improve your credit score
by 4RegularFolks Writer
© 2012 . All rights reserved
Everybody wants a stellar credit score, but it could be a challenge to spend wisely and not blow away your credit score. People with bad credit ultimately need help to improve their credit rating. There are options for credit repair that you should know about from the get go and when implemented will begin your journey to sound finances. The article below will guide you in making a plan that you can use to repair your credit, as quickly and easily as possible.
Credit report check
You should check your credit report at least once a year. You can do this for free by contacting one of the 3 major credit reporting agencies. You can look up their website, call them or send them a letter to request your free credit report. Each company will give you one report a year at no charge. From your report you can figure out if your data has been stolen, in which case you will see credit cards or loans you did not take yourself. Or at least figure out where
Cash is king
Paying cash for smaller purchases will not only save your credit cards from being overused and overdrawn, it will also help you repair your credit. By carrying low balances on your credit cards; paying for services and products with cash and not getting new credit cards, you essentially stop growing your debt, giving you some breathing room to tackle it.
Paid off accounts
When you pay off an account, do not close the account. Paid off accounts do have a positive effect on your FICO score, especially as they age. Any item on your report that shows that you had debt at some point and was able to eliminate it leaves positive impression.
Pay on time
Make your credit card payments on time or before they are due. If you pay them before they are due, you can avoid more finance charges. You should at least make sure they are paid by the date they are due so you don't have to pay late fees on them.
Improving your credit score is possible with the right information and a great plan. Do not feel overwhelmed by the state of your credit. Do your research and find out the best strategy to follow. Remember consistency is the key to success, keep at it and don't let up.
Related articles and Videos