Sunday, July 22, 2012
How To Improve Credit Score Fast ?
Many people that don't know how to improve credit score hire credit repairing companies.That is not suggested, because many of these companies use loopholes that may make you legal problems.I can not say that about all of them, but it is possible.So, be careful with that.In this post, I'm going to teach you how to increase your credit rating the right way.You have to know that there is no fast and easy way to do that.Everything here works but it takes time and effort.So, let's get started.
First step to improve your credit report is to get a copy of your report.It's free.There are a lot of companies online that offer free 3 in 1 report, which mean reports from all 3 major companies.Most of them offer also credit monitoring with $1 trial.I'd suggest you to get that, because that way you will be able to see all changes to your file while you increasing your score.It is also used for ID theft protection.To get all you need click here.This site comes with $1 trial.You can cancel at any time.Keep in mind that if you don't subscribe for that, you can still request your reports more than once per year, but that will have negative impact to your score.
Next step is to read it carefully and to check it for errors.Don't worry if you see any errors.That is something that happen to almost everyone.You just have to mark and to report them.You need to report them to all agencies and to your creditors.If you see any opened accounts that are not your, you may be a victim of identity theft.You'll have to close these accounts immediately and to take further action.With monitoring you will be notified for any changes to your file in one day, so you will be sure that you know what happen.
Delinquent or late payments, even if only several days late, and collections can have a negative impact.So pay everything on time.Paying off a collection account will stay on your reports for 7 years.
Don't use too many credit cards.Many people just ignore any cards.You can use one, but be careful.Use no more than 30% of its limit.10% is even better.It is also called outstanding balance.If you use more than these numbers, you might be considered as high risk.
Get out of debt as soon as possible.
Don't open a lot of accounts in a short period of time.Even don't apply for accounts in a very short period of time.If you want to improve your credit score, that will have a negative impact.If you do that, creditors may request a copy of your reports and these items will be there as inquiries.Inquiries have negative impact to your score.
Open one or several accounts not in a short period of time and pay them on time.That will help you build your score.
Don't request free credit report more than once a year.If you are in a process of improving your credit, you should subscribe for monitoring.It does not affect your score.
Avoid bankruptcy.That is one of the worst things if you want to increase your credit history.It will stay for 7 years on your file and it will destroy your score.