| 8 Tips To Improve Your Credit Score |
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rzvl
First Time Poster
Cash: $ 0.25
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Joined: 09 Nov 2011
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| 8 Tips To Improve Your Credit Score |
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You can take a few simple steps and ensure that your credit score is higher than 700.
1. Maintain a long healthy credit history. Keep alive your oldest credit card and be sure to pay all bills in time. Never keep bills pending over a 30 day period. If in a crunch at least pay the minimum charges due.
2. Do not have too many credit cards. Learn to say "NO," to offers of free credit cards. And, maintain a good credit limit. Avoid using all the available credit on the cards.
3. Ensure that the credit report you have is accurate and that there are no errors clerical or otherwise.
4. Plan your finance such that it is healthy. Consider debt consolidation.
5. Never suddenly close or open accounts. This leads to suspicion that you are trying to manipulate your credit report.
6. If you are having problems speak to your creditors well in advance and work out a stage wise repayment. Request the creditor to refrain from reporting the late payment.
7. Late or delayed payments drive your score down so always pay bills dead on time. Keep a tab on due dates and ensure that all bills are paid.
8. Learn all you can about credit reports and scores and keep the criteria in mind while managing your finances. Maintain the debt-to-credit limit ratio and, if need be take the help of a finance planner.
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Credit Repair: How To Do It Yourself - www.12credit.com
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Wed Nov 09, 2011 9:54 pm |
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hermans25
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Joined: 29 Sep 2011
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I agree with these all tips if anyone follow these tips then he can improve his credit score.
Bad Credit
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Fri Nov 18, 2011 7:10 am |
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RetailerDepot
New Member
Cash: $ 0.60
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Joined: 26 Dec 2011
Location: USA
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| RE: 8 Tips To Improve Your Credit Score |
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I agree with your 8 Tips for improving your credit score, but would like to add a couple more.
Pay Down Your Debt
Decreasing your “credit availability to credit use ratio” on all revolving charge cards to under 25% of your credit limit is the easiest way to improve up your credit score. In otherwords, if you have a $10,000 credit limit on a credit card, you need to keep your balances under $2.500. Credit scores can really take a hit if your account balances are above the 50% credit limit.
Get A Visa Secure Card
Secure cards look like any other credit card offered by your bank or credit union but the difference is you actually deposit funds into your secure card account. The good news here is that your secure card account is reported to the credit bureaus. This way having a good track record on the account will certainly help improve your credit score.
Apply For A Small Personal Loan
Using your savings as collateral on a small personal loan is a great way to get positive information going into your credit file. These are low interest loans that are paid back in months rather than years in most cases.
Use Retail Store Credit Cards
Retail cards have smaller credit limits and are pretty easy to get. If you behave and pay your bills on time or even better, payoff those balances every month, your credit score has nowhere to go but up.
The bottom line for getting a great score is pay your bills on time, keep account balances low, and take out new credit only when you need it.
"A bank is a place that will lend you money if you can prove that you don't need it."
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Mon Dec 26, 2011 11:59 pm |
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Destiny
Contributing Member
Cash: $ 6.25
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Joined: 02 Feb 2012
Location: Utah
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Making your credit payments on time is one of the biggest contributing factors to your credit score. You can set up automatic payments from your bank account to help you pay on due date.
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Wed Feb 08, 2012 12:03 pm |
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reeling
Member
Cash: $ 2.20
Posts: 11
Joined: 04 Mar 2012
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| Re: 8 Tips To Improve Your Credit Score |
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quote:
Originally posted by rzvl
You can take a few simple steps and ensure that your credit score is higher than 700.
1. Maintain a long healthy credit history. Keep alive your oldest credit card and be sure to pay all bills in time. Never keep bills pending over a 30 day period. If in a crunch at least pay the minimum charges due.
2. Do not have too many credit cards. Learn to say "NO," to offers of free credit cards. And, maintain a good credit limit. Avoid using all the available credit on the cards.
3. Ensure that the credit report you have is accurate and that there are no errors clerical or otherwise.
4. Plan your finance such that it is healthy. Consider debt consolidation.
5. Never suddenly close or open accounts. This leads to suspicion that you are trying to manipulate your credit report.
6. If you are having problems speak to your creditors well in advance and work out a stage wise repayment. Request the creditor to refrain from reporting the late payment.
7. Late or delayed payments drive your score down so always pay bills dead on time. Keep a tab on due dates and ensure that all bills are paid.
8. Learn all you can about credit reports and scores and keep the criteria in mind while managing your finances. Maintain the debt-to-credit limit ratio and, if need be take the help of a finance planner.
Nice tip but what do you suggest for someone who already have a bad credit score?
Lease Purchase Agreement
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Sun Mar 04, 2012 10:20 am |
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