How Do I Raise Credit Score
Pay bills on time. Each on time payment, as well as late payments are recorded in your credit file.
Don't apply for credit too often. Every time you apply for credit, an inquiry is placed in your file. Too many inquiries lower your credit score.
Don't have more open credit accounts than you need - Even accounts with 0 balances count into the equation. Closing excess credit accounts will raise credit score. The exception is an account which has been open a long time which will help your score.
Don't have too few credit accounts. If you have no loans or accounts then you are a credit risk as well. A few credit cards with reasonable limits and balances are ok.
Pay credit card balances completely, as often as possible, don't let them carry a balance consistently.
Get your credit checked 1-2 times yearly to find out if there are errors.
Raise your credit score to obtain better rates on mortgages, loans and lines of credit
| Quick Credit FAQ |
| Up to 60% of people who check their free credit report find errors. |
| Credit Professionals recommend a credit check at least 2x yearly. |
| You may obtain a free credit check if you've been denied credit in the last 60 days or once annually. |
| There are 3 credit bureaus which collect information from major creditors. Equifax, TransUnion, Experian. |
| Your credit report lists all the accounts and payment history for the last two years; liens and judgements for 7 years; bankruptcy 10 years. |
| From your information a credit score is calculated. Credit Scores range from about 400-820. A score of 700 or above is very good. |
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