6 ways to boost your credit score |
Posted: March 17, 2016 |
If you watch TV, surf the internet, or read the daily newspaper you have seen credit repair services advertised by the dozens. After reading these ads you probably are wondering if your credit score can really be raised with no cost involved. Well believe it or not the answer to that question is YES, There are ways to raise Your Credit Score Quickly without any cost. Another technique to raise your credit score is to increase your total available credit, by applying for new credit or asking for your current credit accounts to raise your credit limits. One of the Ways To Raise Your Credit Score Quickly is to pay down the accounts with a high balance, and high interest rates. This may be difficult in the beginning, but concentrate on getting each account paid down to less than 50% of the total credit available. If all you credit cards are maxed out then creditors will see you as a credit risk. The longer an account is open, the better your credit score will be. By closing older accounts you will actually decrease your credit score, this is due to your credit history will seem like it is newer than it really is. The longer you have had a credit history the better your chances are to obtain additional credit. If you apply for the new accounts at the same time then this will only count as one credit inquiry. This method can be used to combine your applications and avoid the ding to your credit score you would have had if you had applied over a period of time. Most credit checks drop off after 6 months, but if you need to improve your credit score quickly you may want to try and have older inquiries removed. Be sure and review your credit profile on a regular basis and dispute any bad information or errors with the credit bureaus. You may find credit checks that do not belong on your reports; you need to ask that they be removed. Any closed account should be reported as "closed by consumer", and then check any old accounts or collections that have gone past the proper time limit for reporting. The allowable time limit for reporting credit problems is 7 years, from time to time debt collectors and creditors will continue to try and report old debts.
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