Improving your credit score

[legalhelp]

Below is a personal example of how I have improved my credit score significantly over the last few months. Feel free to add to this post if you can come up with any other ideas yourself.

1) Pay your bills on time - This is so important but many people often pay bills late. By paying your bills on time every single month your creditors will see you are a responsible borrower and your credit will be positively effected.

2) Stay under 50% of your credit card limits - If you have one or multiple credit cards it is important to try to keep your monthly balances on all of your cards under 50% of their limits. If you really want to get bonus points on your credit score I highly recommend keeping your balances below 30%. By doing so (and still using your cards regularly) your creditors will know you are able to easily pay your balance and your credit score will gradually start to grow.

3) Don't open new accounts - If you are really trying to improve your credit score quickly it is important not to open new accounts that will require a credit check. This can be as simple as not applying for new credit cards, opening new bank accounts, or purchasing a car loan.

4) Monitor your credit score for errors - Many times the credit companies will have flaws in your credit history. Weeding out these problems will ensure you have the best possible credit. You must be sure to regularly check your credit score and history at the 3 major companies including equifax, experian, and trans union. The reason for this is that all of the 3 companies above may have different information on you, and it is likely that at least one of the above companies may have errors on your credit report.

Keeping in line with the points above will ensure you are on your way to an improved credit score. If you can think of any other successful ways of improving your credit score feel free to post them here.

[davestack]

You have to pay your bills on time. If you want to get rid of debt, then don't get a credit card. Ok?

[BAR]

There alot of information on the internet about repairing credit. Some tips:

Maintain a distance between your allowable credit limit and how much you actually have charged.

Keep older credit cards active and paid off or down.

Resist applying for new credit - or at least not very often.

[takeshi007]

This guide really help on improving the credit score and I'm sure I will use them when I'm going to repair my credit.