Your credit rating is among one of the most important things in your life. It will determine your future. And your life can be more fulfilled if your rating is high. You need to find out how to increase your credit score to make your future brighter.
You can quickly improve your score by getting a line of credit and paying the bill religiously. You may be able to get a credit card, or a card from a department store. As long as they report monthly to the major three recognized credit bureaus, you will be on your way to improving your credit score.
If your credit is less than perfect, or you have never had credit before, you may need to secure a pre-paid credit card. That is a credit card wherein your money is put down on it, and you borrow against it. You are borrowing against your own money, and paying the institution interest, in order for you to be able to use what looks like a charge card. Since they report monthly to the credit bureaus, this should help you.
You can also obtain credit through a used car dealer. They are probably among the most lenient lenders. This is because people who buy used cars usually can’t afford a new car. And often their credit is a bit tarnished. They need the sales, so they have to be more forgiving. Just be sure they report monthly to the credit bureaus.
When you are given the line of credit to work with, you must make the payments on time. They must be made before or on the due date. That means that the institution must receive your payment before or on the exact due date. It cannot be late. Sometimes there is short grace period, but as soon as that period passes by, the bill will be reported to the bureaus as a thirty-day late payment. Your credit will already be ruined.
For twenty-four months your payments need to be made on time. They can be for more than the minimum amount due, but not for less. The longer this good habit continues, the better your rating will be. Do not try to make payments that are above the minimum payment to earn points. The credit companies do not care at all about that. In fact, they want you to pay the minimum payment, so that you continue to collect the interest.
Once a pattern is established, you can see how easily it is to stick to it. Your score will increase nicely, and your auto insurance premiums may even decrease over time. When you learn how to increase your credit score, you can buy nearly anything you want.
Learn more about fixing your credit score at Quick Fix Credit Score. Where you can receive your free report on “10 Free Steps To Instantly Start Repairing Bad Credit”!
