Categories for Raise Credit Score

Raising Your Credit Score A Step At A Time

March 13, 2011 6:00 am Published by

Raising Your Credit Score A Step At A Time

A good credit score is essential to making any large financial transaction such as buying a house or new vehicle. While there are many bad habits which can contribute to a low score, there are a few small steps one can take to mend his or her score for the better.

Step 1 – Obtain a copy of your credit report from all three major bureaus. You’ll want to periodically review your report for errors, as these may drastically impact your credit.

Step 2 – Make your payments on time. Delinquent and late payments have a drastic effect on your score. Check your most recently closed accounts all your open accounts regularly for upcoming payment due dates. If possible, make more than just the minimum payment.

Step 3 – Try and keep low balances. Consider using your debit card or paying in cash rather than using your credit cards. Maxing out your cards, or maintaining a balance close to your max may send the wrong message and affect your score for the worse. Even if you pay your bills each month and on time, a large balance can appear precarious to credit lenders.

Step 4 – Open new accounts with care. If your credit history is short and your score needs improvement, avoid opening a large number of accounts in a short period of time. If your credit history is already established, avoid opening new accounts just to expand your line of credit.

Step 5 – Use an older card. If you have cards that you no longer use, bring them back into the picture if, and only if you can handle them responsibly. In general, the more credit history you have, the better. Older cards will stop updating your reports if not utilized. This includes lower limit store credit and gas cards.

Step 6 – Pay off any Installment Loans. Installment loans such as those taken out for Mortgage, Auto or Educational purposes should not be neglected. While these do not typically impact your score dramatically the way credit cards do, they are nonetheless important factors contributing to your final score.

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How to Boost Credit Scores – Effectively Raise Your Credit Score in Less Than Three Months

March 9, 2011 6:00 am Published by

How to Boost Credit Scores – Effectively Raise Your Credit Score in Less Than Three Months

Being a citizen of country, where government sources are not enough for supporting people financially. Every time everyone needs some financial support on different stages of life. If you are planning to get a loan for any of your need, then first you boost credit record. This is a reality that credit score always matters whenever you apply for a new loan. This is advisable that either you are planning to take any loan or not but you must boost credit score before time.

There are few things which can help to boost credit score in few months and you will be able to take loans any time.

Deposit Your Payments on Time: – This is the moral obligation to pay back your debts in time as you have decided with the bank at the time you took the loan. Late payment will not only destroy your credit history but will also make your loan massive for you. This is the reason that loans become more massive with the passage of time. If you want to boost credit score then you must pay back regularly in time. This habit will maintain your rating and soon you will be able to present yourself for further loaning.
Avoid Unnecessary Purchasing: – Always try to avoid unnecessary purchasing from credit cards. Try to use some cash so that you can keep your balances low. This will boost credit profile as the outstanding amount is a multiple in the criteria of score rating. As your balance will be high, the credit rating will be affected by simple transactions too.
Pay More Than Bill: – In order to boost your credit score as soon as possible you try to deposit more than the bill of unsecured loan. If your total outstanding amount is 00 and you are only paying 0 as minimum amount regularly, it will maintain your score but will not boost credit history. But if you will pay 0, it will surely rise your credit score and repeating this thing for three months, your credit score will be near as required.
Remove Errors: – Try to get credit report on regular basis so that you can check it for errors. Some time due to negligence or by some technical issue, may be some of the entries are missing or not written properly. If you want to boost credit profile right now, then you must check it for errors and remove errors as soon as possible.

Do not show negligence to maintain your credit score, always have a look on it and try to raise it before you need it.

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Will A Secured Credit Card Raise Your Credit Score?

March 8, 2011 6:00 am Published by

Will A Secured Credit Card Raise Your Credit Score?

A credit card is a convenient way to build credit history. However, if you have bad credit, it is quite difficult to get a regular credit card. Most credit cards are unsecured, which means they do not require any collateral from you. There is another type of credit card that do required a collateral from you. This is usually in the form of a saving account managed by the credit card company. This type of card is known as secured credit card.


Payment history for unsecured credit cards are being reported to the three major credit bureaus. However, this may not be the case for secured credit cases. Some of them do report the payment history to the three bureaus and some do not.


If you intention is to raise your credit score, you should look for those secured credit cards that report to the three major credit bureaus. Most of the time, this benefit is highlighted in the application form. If you do not see it, you can call up their customer service hotline to enquire about it.


The way you use a secured credit card to raise you credit score is the same as with a regular credit card. You have to use the card on a regular basis and must make payment on time. Unlike a regular credit card, if you default on your payment, the credit card company has to the right to collect payment by deducting the amount from the balance in your saving account.


It is very easy to get approved for a secured credit card. Most of the time, a credit check is no required as you are going to open a saving account that serve as collateral. This means approval is guaranteed unless you are underage or you are residing outside USA.


The amount of cash deposit into your account will serve as the credit limit. You can increase the credit limit by adding more cash. In addition, the cash in your saving account will earn you interest as long as you do not default on your repayment. This is one main advantage of having a secured credit card. The other advantage is you can avoid the pitfall of credit card debt since you can’t spend more than what you have in your saving account


A secured credit card is a very good option for people who has bad credit or no credit. By using them regularly and making repayment promptly, you can be assured that your credit score will raise to the level that qualify you for unsecured credit card and better interest rates.

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Tips To Improve Your Credit Score

March 7, 2011 6:00 am Published by

Tips To Improve Your Credit Score

One of the largest determinants of overall financial health is your credit rating. Without a good FICO score you will have a difficult time obtaining a mortgage, auto loan, personal loan, or credit card. By having a good score you will not only drastically increase your chances of obtaining a loan, but you will also receive lower interest rates which will save you thousands of dollars in interest expenses over the course of your lifetime. If you have a poor credit rating, there are several tips to improve your credit.

The most obvious thing you can do to improve your credit is to make sure that you always pay your bills on time. Your historical timeliness of making payments to creditor on time is one of the largest determinants of your overall credit score. If you historically have not paid your bills on time, paying your bills on time going forward is the first step to improving your score. While late payments will remain on your credit score for 7 years, your credit score will increase after successfully making payment on time for a full year.

Next, you will want to pay off as much of your revolving credit as possible. Your credit utilization is the second most important factor that determines your credit score. For the best possible credit score, aim to keep your balances at 20% or less of your total limits. As an example, if you have ,000 in credit card limits, you should never carry more than ,000 in revolving debt. If you pay down your credit card balances so they are less than 20% of your limit, your credit score will improve immediately. If you do not have the cash on hand to pay down your credit cards, you may want to consider calling your creditor and seeing if they would be willing to raise your credit limit. This would result in a lower overall credit utilization ratio.

The last of several tips to raise your credit score is to pay off charged off accounts through a pay for delete. If a creditor has ever charged off your account because you refused to pay back your debt, they most likely have written off your account. A charge off has an adverse impact on your credit score and will remain in your file for seven years from the date of last activity. If you contact the creditor, they may be willing to delete the account from your credit file in exchange for payment in full.

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Raising Your Credit Score- Why and How?

March 6, 2011 6:00 am Published by

Raising Your Credit Score- Why and How?

Raising your credit score works the same way your report card at school worked. If you had bad marks chances were that you weren’t able to get into the best colleges. Your credit score is a three digit number, and the higher your credit score the better chances you have of getting a good loan with lower interest rates. In the same way a college institution would look at your report card and be able to see if you will be able to handle the work they offer, a lender would look at your credit report and will be able to determine whether you will be able to pay the loan back.

The first thing you need to do in order to raise your credit score would be to get hold of your credit report. Once you have obtained this report you will be able to check your credit history and you must not assume that everything you see is correct and final, if there is a mistake you may dispute this. Therefore you need to go through every single detail of that report.

If you notice outstanding debts you should get right on it and start paying it off. This automatically increases your chances of getting that loan. It is also recommended that you pay off the debt with higher interest rates. Another tip is that you should keep track of your expenses. You should always keep track of how much you spend, where you spend and when your due date for payment is. Do not spend to your absolute limit. This is bad for your credit score and may hinder your chances of getting a good loan.

It is also important to remember that you shouldn’t close your accounts that you opened a million years ago and you are not using anymore. By having old accounts, you will increase your credit limit. Consequently you will increase your chances of gaining approval for a higher loan. If you have already closed these accounts don’t go running around wild to go open some. New accounts will have a contradictory affect.

In addition you may think that you need one day to pay off all your accounts. This may be true if you were to have multiple accounts and you find it hard to keep track of your installment dates. However, it will be beneficial to both your credit score and your pockets. Spreading your debt with different cards can reduce the chance of maxing out one which hurts your credit score, in terms of your pockets you will be able to pay at different times in that month and have freer reign with your monthly income.

In conclusion if you are seeking a loan you need to be able to provide a squeaky clean credit history this means you need to raise your credit score and by doing so you need your credit report. You shouldn’t ask for your credit report too often as this lowers your credit score. To learn how to quickly raise a credit score, visit http://www.creditinforepair.com

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