How to Improve Your Credit Score
A good credit score is 601 or higher; 600 or below is a bad credit score and will mean problems. The best way to maintain a good credit score is to make all credit payments on time, and maintain low credit card balances; in this way you will keep your credit score from going down in the first place. Keep tabs on your credit score by checking it often and making sure it stays high; remember that mistakes can be made and give you a bad credit score and the earlier you find these errors the quicker they can be fixed, so check your credit scores often.
TAKE CHARGE OF YOUR CREDIT CARDYour credit card is one of the major factors when it comes to improving your credit score; incurring more debt when you have a low score will only make your score worse and get you deeper in debt so cut down on your credit card use as much as possible and stop using it altogether if you can. Make your credit card payments regularly, starting with the cards that are closest to being maxed out, rather than the cards with the highest interest rates.
WORK OUT A PAYMENT PLANIf you are having trouble making loan payments, talk to your lending agency about it and see how best you can work with them to pay off your debts; lending agencies will often offer you different terms so you can keep up with your payments rather than trying to make payments you cannot afford, falling behind and ruining your credit score. This wont improve your credit score immediately as you will still have to pay off the loan but it will at least keep your score from going even lower.
CREDIT APPLICATIONSAvoid making credit card applications to get more credit while you are trying to improve your credit score; your application will most likely be denied anyway but the fact that you make the application will hurt your credit score even more if you already have a borderline score, so work on clearing up your current debt without trying to get more credit. Also dont try to close delinquent accounts as a way of getting rid of them and improving your credit score as this might actually backfire and make your credit score even worse.
1 comments:
The best way to improve you credit score is that make your payment, repayment of loan, insurance premium, credit card bills, etc on time. We really must work on our payment plans smartly.
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