Little Know Ways To Improve Your Credit Score

Posted by on Oct 10, 2012 in Credit Issues | 0 comments

little known ways to improve your credit scoreCredit card debt can be the monkey on our backs for so many of us but did you realize that it’s not just this massive amount of debt you should be concerned with but also your credit score?  So how do you improve your credit score?

Having a low credit score can actually wind up costing you thousands in extra interest you pay and have a variety of other negative consequences. Even if you don’t plan to buy a property anytime soon, having a high credit score is a good idea. A low credit score could wind up making you have to leave extra security deposits, may stop you from getting approved for an apartment, or even a cell phone without a guarantor.

Imagine that? Not being able to get a cell phone because your credit score is too low! That’s just incredible. Here are some ways to improve your credit score and take your life back.

How To Improve Your Credit Score

Credit Report: You hear all the time that you should get your credit report from all three major credit reporting agencies every year, right?

Experian, Trans Union, and Equifax are the three and you have your right to these reports. But seeing the reports isn’t just about seeing your credit card debt; it’s also important to compare the three reports and fix any inaccuracies. If your credit score has been dragged down because your credit card debt is incorrectly reported, that’s a problem you can fix on your own.

Ask: Another thing you may see may be negative late charges posted by places you have been late to only once. If you call the credit provider directly and ask them to delete this transaction, that is something that credit cards will often do for you; especially if you’ve been a good customer in the past.

Follow Up: If you get these things fixed and inaccuracies corrected you should follow up with the credit reporting agencies to make sure they know about it and adjust your score accordingly.

Keep Accounts: The objective for many people may be to pay off credit accounts and close them out; however how can you have a credit score if you have no credit available? Credit card debt is a good thing when it’s used correctly. If you eliminate all credit card debt and have not activity then your score could actually go down.

Remember these tools for using credit card debt and improving your credit score.

Image Courtesy of www.newhomessection.com

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