4 Proven Tips in Raising Your Credit Scores : Repair My Credit

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4 Proven Tips in Raising Your Credit Scores

4 Proven Tips in Raising Your Credit Scores

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Home Page > Finance > Real Estate > 4 Proven Tips in Raising Your Credit Scores

4 Proven Tips in Raising Your Credit Scores

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Posted: Nov 05, 2009 |Comments: 0
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Your credit scores is calculated based on several categories. Each category will have a corresponding percentage. The bigger the percentage, the more important the category is. However, each of the categories is important because they count as part of the overall score.

Credit scores have helped various people in objectively evaluating an individual as to credibility and credit risk. Property owners, lenders and other financial institutions look at credit scores before contracting with the person. If a person’s credit score is good, they get great deals in loans. They have higher chances of getting rent approvals. M Moreover, they are perceived as highly credible and financially trusthworthy.

Every individual should be careful about his or her credit scores. Even if you have been careful in your financial transactions, still other factors could jeopardize your scores. Therefore, it just makes sense for every person to observe measures to increase their credit scores.

Here are some 4 tips to raise your credit scores:

1. The first thing you should do is to educate yourself with the components of your credit scores. You should know the percentage of each component. If you have a copy of your current credit report, check all areas and learn where you have been down marked. You also have to understand why you were down marked for it.

2. Once you have realized your areas of opportunities, focus on improving that particular area. For example, you have been down marked in payment history for having late payments. To correct this, you have to keep your payments current all the time. Another one example is if you have been down marked for having high outstanding balance. To increase your points for this category, you have to make bigger re-payments.

3. Obtain yearly credit reports and check for possible errors in reporting. There may be instances when people, who do not like you, would intentionally report a fault even if you did not do anything. Or perhaps, there may be some clerical error in the reporting that adversely affected your credit performance. You have to correct these errors prior to application of loans.

You have the right to challenge credit bureaus, just as long as you have evidences to prove your claims. You have to write a request for correction and send in supporting documents for faster corrections.

4. With or without credit report, you can simply raise your credit scores by making on-time payments. Being wise in managing all sorts of debt is also important. You also have to avoid opening too many new accounts before applying for any kind of debt.

Another thing you can try is maintain goodwill. Try to be a good customer all the times. In case you have slight problems with your credits, lenders may allow letting the issue slip.

These tips have proven to work over time. However, there is no miracle in raising credit scores. It would usually take time. Therefore, before you apply for any credit, you need to perform these things ahead of time. Moreover, practicing these tips religiously will assure you of great deals in obtaining credit.

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Find more tips in real estate by browsing Phoenix Homes, Phoenix Golf Real Estate and Biltmore Phoenix Real Estate.

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How can I raise my credit score from 515 to 675 in 6 months?
I am trying to clean up my credit report and raise my scores, but it seems the more I do to help my credit score the lower it goes. I’m trying to purchase a home and in desperate need of help!
He has a good credit score and she has a terrible credit score. What happens to the scores when they get married?

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