Tips To Raise Credit Score


improve-your-credit-scoreWe hope you’ll find these tips to raise credit score helpful. A credit score is one of the things lenders look towards when you ask them for a loan. You could be applying for anything, from a house loan to a credit card with a higher limit, but this three-digit number that reflects all your old credit history will be the main determinant as to whether you successfully get the loan.

While this may seem a bit intimidating, especially when you are about to ask the bank for a large home loan, there are some tips you can use to “up” your credit score. By improving your credit score, there will be a greater chance to attain the loan you need.

The following tips will help you improve your credit history:

Eliminate nuisance balances: Most people with multiple cards end up using them all for small payments. This could reflect badly on their score. What you need to do is eliminate the small payments on your cards and then use only one two for things most of the time.

Don’t close credit cards: Loans that you have paid off on time and without hassle look good on your report. Do not try to eliminate these loans immediately after you have paid them back. Also do not close your account because the credit you don’t use can help with your credit to debt ratio.

Pay your bills on time: Bills need to be paid on time; late payments or non-payments reflect poorly on your credit history. No lender would want to give money to someone who has a history of lagging behind on repayments in the first place.

Minimize your card use: Do not use your plastic money to pay for each purchase you make. Your credit utilization ration should ideally be only 30% or even lower. A 10% credit utilization ration will maximize this part of your FICO score.

Take care of errors: If you have detected any errors in your bill payment or credit card payment, have them adjusted at the earliest. The slightest discrepancy may cost you the loan. Be sure to contest any inaccuracies if or when they arise.

Stop obsessing: Start focusing on your credit score if you know you will soon need to take out a loan. Take care of your bills and use your credit cards responsibly. Be sure to ask for a copy of your credit score a few months before you plan to get a home loan and assess which tier you are at, whether you qualify for the loan, etc. Healthy spending patterns will reflect well on your report.

So, make sure you follow these tips and take this advice to heart. Even if you have no current plans to own your own home, or take out a loan, it is always helpful to have a decent credit history rather than a challenged one. These tips will definitely help you in improving your credit score for the future.


How A Team Marketing Can Help: If you need additional help to get your credit on track, A Team Marketing works with many professionals who are skilled in credit repair. This will also put you on track to home ownership. We also have homes that you can lease, or rent-to-own. If you would like to get on our VIP list of properties please click here. You can also contact us about getting assistance from our credit repair affiliates.

Call 855-66A-TEAM.

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