Improve Your Credit

Improve Your Credit

How to Improve Your Credit Score

To Improve Your Credit Score can seem like an impossible task. The scoring model seems to factor in tons of information and makes it seem as if you have no control over your score.

This is incorrect. If you take a few steps you can positively influence your credit score.

1. Remove Bad Credit items on your report. You must dispute the Credit Bureaus directly with either a dispute letter or by hiring a service to dispute them on your behalf.

2. Pay off any verified bad credit item on your report. In exchange for your payment have the lender remove the item from your Credit Report.

3. On time bill payment. It is rumored that missing a payment can damage your score up to 50 points.

4. Open a new credit line. This is best if it is a revolving Line Of Credit, for example an unsecured Credit Card.

This will also help you build a positive payment history by paying your monthly bill. However if you can not qualify for an Unsecured Credit card then open a secured card, but make sure it reports to all 3 bureaus.

In addition try to keep your monthly balance at 10% of your available credit. Doing this shows the bureaus that you do in fact use your credit and you use it responsibly.

5. Pay off large debt. Your score will get a bump if you have high available credit to debt. The bureaus want to make sure you are not overextended and by showing them you have available credit your score will get a bump.

These are the only factors you should focus on when Improving Your Credit Score. There is one last tip that is surrounded in controversy.

6. Piggyback credit, this is when you are added as an authorized user to a Good Credit card account. The benefit is this account is now reported on your credit report.

This tactic has been widely abused and the scoring model has adjusted its formula to discount authorized users. However there is a debate over if this change has occurred yet or not.

In sum by doing step one through five you will improve your score dramatically. With an improved credit score you will finally be able to have the quality of life you truly deserve.

About the Author

To learn more about Credit Repair or to read an article about Credit Repair Letters or for a review of Lexington Law a suggested credit repair firm visit us.

What's the fastest way To Improve Your Credit Score so that you can get a home loan?

i have paid off all my debt in aug08 and have closed all My Credit card accounts that i owed and now i have a fashion bug credit card but it doesn't seem to be raising my credit as much as i hoped it would i have 6 months to a year to get a home loan what should i do?

I do not know if Fashion Bug reports to the credit bureaus or not but closing your credit accounts will result in your Credit Rating to go down. The reason being is that you now do not have any credit and are not making any payments to rate. The fastest way to Improve Your Credit Rating is to have two or three small loans, visa, mastercard or one of the other major ones, and to make timely payments on them if not more than the minimum. Having two or three small accounts is far better than having one big one to achieve your goal.

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Improve Your Credit

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