Consumers who increase their credit score by 30 points save an average of $105 per year in finance charges on consumer loans according to a recent survey taken in part by the Consumer Federation of America.
There are several factors related to raising your credit score:
- Pay bills consistently on time each month
- Pay off debt do not open accounts for brief periods of time (moving debt around)
- Do not charge the maximum or close to maximum ceiling on your card
- Consistently check your credit report for errors
Don't forget you are entitled to one free credit report per year from each of the 3 major credit bureaus: Equifax, Experian & Trans Union.
For further information go to http://www.annualcreditreport.com
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