Los Angeles, CA -- (SBWIRE) -- 11/13/2013 -- Knowing how to increase credit score is something that needs to be a concernfor anyone and everyone.In today’s world getting a loan or line of credit is often times essential, but without a good or even great credit score a person will inevitably be denied. Now is the time to start working on bettering credit scores. The following is six tips to help do just that.
Tip 1: Stick to a Schedule
A person must take the time to figure out exactly when each of their bills are due, then draw up a schedule that details when he/she gets paid and when each bill is due. After that he or she will write another portion detailing which bills will get paid at each payday. This is an essential step in how to increase credit score.
Tip 2: Do Regular Score Checks
Everyone should check their credit scores regularly. This will help a person to find any errors that have been placed on his/her credit report. This also provides a chance to see exactly what is being placed on a given credit report, this gives people the opportunity to understand what is being reported and what they need to do to improve on it.
Tip 3: Do Not Overextend
Overextending is a problem that many people face, taking on too many credit cards and/or charging more than they can safely repay. If someone does overextend, they will likely cause harm to their credit score due to not being able to make all of the necessary payments.
Tip 4: Keep Balances Low
Consistently keeping card balances low will go a long way towards improving credit scores. When creditors look at a person’s credit report, they are checking to see how well that person pays back their debts. When a person keeps their card balances low it shows creditors that they can be trusted.
Tip 5: Pay Off Don’t Close
Closing out card accounts before paying them off can actually hurt credit scores instead of improving them. This is because a person’s credit report will still reflect the amount owed but will also show less active accounts. It is best to keep card accounts open while paying them off.
Tip 6: Do not use Clinics
Many people make the mistake of going to a “credit repair clinic”, this is not how to increase credit score. Anything that a clinic can legally do a person can do on their own. There is no magic, overnight credit “fix” so be cautious of anything that offers one.
Many people already have a need to know how to increase credit score and many more will need the knowledge in the near and far future. Following these six tips will get a person well on their way. It is vital to remember to stick to a billing schedule to be sure that bills get paid on time. Everyone must be careful not to overextend themselves with too many credit cards and overly expensive purchases. Everyone must keep the balances of credit cards low and pay off balances before closing a card account to increase their credit score. People also need to keep a check on their credit reports and stay away from credit repair “clinics”.
About Mark Clayborne
Mark is the best-selling author of the book –Hidden Credit Repair Secrets available at Amazon.com.He is also a certified credit consultant, FICO Pro Expert and proven writer with over 100 articles written in the area of credit repair. Get Your Free Chapter on How To Raise Your Credit Score. Click here.
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