Having Bad Credit Score? 5 Tips To Increase Credit Score

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					         Having Bad Credit Score? 5 Tips To Increase Credit Score

If you are one of those people who have been suffering from a poor credit score for a long time
and is very stressed about it, then you might want to fix it immediately. A poor credit rating can
be very hard to work with because most lenders and banks will deny your applications, or if you
do get approved, you will most probably get a very high interest rate or a high deposit.

Here are some tips to increase your credit score.

   1. The first you have to do is to get a copy of your credit report to know where you stand. If
      there’s something you have to fix, you have to know what you’re doing wrong first. Your
      credit report will contain all of your accounts including the negative items that are hurting
      your credit score. You can get your free copy from the 3 credit agencies every year.

   2. If you already have your credit report and you realized that there are a lot of errors on it,
      then you have to file a dispute to your creditor immediately. Errors that weren’t
      committed by you can affect your credit report in a lot of ways so it is best to get them off
      as soon as possible. Write to your agency about the errors and keep your letter brief yet
      concise. Fixing a credit score will keep you from losing 50 or even a hundred points from
      your credit score.

   3. Getting yourself a new credit card will only raise your credit utilization as well as the ratio
      between your credit card balances and credit limit and if your card has a high balance,
      the greater it will affect your free credit score report. So as much as possible, try to avoid
      purchasing new credit cards and that money to pay off your current credit card’s balance
      instead. Lowering your balance will of course help you increase your credit score as well
      as paying of your past balances. The more late payments you have, the more it will
      affect your credit score and the more you have to pay because of the interest that will
      accumulate with it.

   4. Don’t forget to keep your accounts open especially if it still has a balance. Most people
      are tempted to close their credit accounts because of delinquency issues but it isn’t
      actually doing anyone any good. If you are planning to close a credit account, make sure
      you have no remaining balance on it. Still, it is very rare for someone to get a credit
      score boost from closing their accounts.

   5. Your creditor might be the last person you want to see or talk to, but it’s important that
      you contact them regularly. Make sure you contact them if you’re having trouble with
      something; surely, they will help you out with your payments and you get to improve your
      credit score as well.

Unpaid taxes can severely damage your credit score and harm your credit history. Therefore,
always pay all your taxes on time and keep a track of your credit report regularly for a healthy
financial life.

				
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Description: If you are one of those people who have been suffering from a poor credit score for a long time and is very stressed about it, then you might want to fix it immediately. A poor credit rating can be very hard to work with because most lenders and banks will deny your applications. Here are some tips to increase your credit score.