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Ways To Improve Your Credit Score
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Tags: improve credit
Below is a list I have created to help/inform people of ways to improve your credit
| 1. | Pay your minimum payments on time - you would be suprised how much missing a minimum payment can effect your credit score, even if you can only make the minimum, try your best to pay them on time. |
| 2. | Do not max out your credit cards- the more capacity you have the higher your score will be, if you need to, try to transfer balances to other cards, try not to go above 50% of your available credit per card. |
| 3. | Retrieve a credit report- A new law has been passed that you are able to pull a free copy of your credit report yearly from all three agencies, pull your report at www.annualcreditreport.com and make sure there is no fraudulent activity going on. |
| 4. | Balance secure and unsecure debt- If you have too much unsecure debt (credit cards) see if your financial institution can do a loan to pay them off, home equity loans are secure, some financial institutions even report personal loans as secure debt, try to keep a balance between the two. |
| 5. | Consolidate, if it will be benificial- many people use their home loans and equity loans to consolidate their debt, most of the time the APR on the loan will be less than a credit card and it is reported as secure. |
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