credit scores: Step 5 in a 5 Step Process to Improve Your Credit Score
- 12/30/11 05:06 AM
Step 5 - Use a combination of different credit types. A mixture of credit cards, installment loans and loans with fixed payments can help raise your score if you manage the credit cards responsibly. Having numerous installment loans can lower your scores because the payments remain the same until the balances are paid in full. Don't open new accounts for the sole purpose of doing this, just keep it in mind for future needs. And don't forget that closing an account doesn't remove it from your report. It may still be showing up and affecting your score. Be sure to contact … (0 comments)
credit scores: Step 4 in a 5 Step Process to Improve Your Credit Score
- 12/29/11 03:05 AM
Step 4 - Protect Your New Credit - Manage it wisely. Several credit inquiries during a short period of time gives the appearance of you trying to open more than one new account and this can lower your credit score. The software used to score your credit can usually recognize when you are shopping for a single loan within a short period of time, such as a home loan or car loan. In doing so, if multiple inquiries are necessary, have them pullled as closely together as possible. Checking your own credit report does not affect your scores. If and when … (1 comments)
credit scores: Step 3 in a 5 Step Process to Improve your Credit Rating
- 12/05/11 06:16 AM
Step 3 - The length of you Credit History - how far back does it go? Time is crucial to this aspect of your credit scores so you really should take the time to manage it wisely. Don't open several new accounts in a short period of time- this is especially important if your credit history is less than 3 years old. Adding too many accounts close together sends out a red flag that you may be irresponsible in managing your credit. Be sure that you pay your bills on time, especially the the long standing acounts, and try to pay … (1 comments)
credit scores: Step 2 in a 5 Step Process to Improve your Credit Rating
- 10/25/11 03:14 AM
Step 2- Consistenly Good Payment History Always pay your bills on time. Late payments are a major factor in driving down your credit score. If any of your bills are currently past due, get caught up and stay caught up - procrastination can destroy your credit rating. Contact your creditors immediatley if you think you are going to have a problem paying a bill by the due date. Try to work out a payment arrangement and ask them to keep the late information from being reported to the credit bureaus. If you cannot get them to agree, negotiate to keep at … (1 comments)
Step 5 - Use a combination of different credit types.
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