Find Out How To Improve Credit Score Starting Today Banks and creditors look at your credit scores, which range from 300 to 850, as a simple way to determine your credit risk when deciding whether to issue or extend the credit, as well as the limit and interest rate. Your credit scores represent all of the information on your credit report, including your accounts and payment history, both positive and negative. The three main credit bureaus are Experian, Equifax and Trans Union, and all report consumer information that is submitted from creditors, collection agencies, and public record directories on a monthly basis. This data is then sold to companies that pay a fee to access a consumers report. Some lenders have their own formula to determine the risk factor, but 95% of creditors use the FICO model, created by the Fair Isaac Corporation. The higher your scores, the more likely you will be approved, and with a more attractive interest rate. A low score can increase interest rates and the approval decision. Over 34% of consumers have credit scores of 620 or lower, which makes them have a difficult time getting approved for a mortgage. If you want to know how to improve credit score, it can be done, although it will take some time. Here are some tips: Figure out what is hurting your scores by getting a copy of all three credit reports and looking through all of the accounts and identify which ones are impacting the scores negatively. Visit http://www.mycreditbureaureports.com and get your credit reports from the three credit bureaus and take advantage of their FREE credit scores offer. They will instantly provide you access to all 3 reports in less than 60 seconds and give you the scores for free. If you are denied credit, the lender will typically send a written notice explaining what led to the denial decision and also instructions on how to get a copy of the credit report from the bureau that they based their decision on. Aside from credit repair, you can also pay down the balances on your credit cards and any other monthly revolving line of credit. The debt to credit ratio is a large percentage of the FICO formula, so maintaining a low ratio will help to improve your credit score. Pay off small balances so they report as $0. Try to keep all balances under 10% of the total available credit, especially at times that you are trying to get loans or know that your credit will be pulled. Use a budgeting tool to ensure that you are not throwing money away; instead focus on paying off debt. Becoming debt free will help in so many ways. Make sure that you practice responsible credit use going forward. Always pay bills before the due date and make sure that other expenses like household utility bills never end up going to a collection company. Pay your bills on time and there will never be any worries. To ensure that you make all payments on time set up automatic payments. This will prevent late payments. Avoid applying for unnecessary new credit. Each inquiry will lower the credit score and some lenders will deny applications if they have too many inquiries. If your credit score is damaged get started with our credit repair service, which is both affordable and effective. Here are some things to make sure that you do not do: Never close old accounts even if you are not going to use them again. They help the overall average age of accounts, and that is a large percentage of the credit score formula. While you are working on improving your credit do not open any new accounts. Wait until the situation is improved before applying for new credit. Do not fall for claims made by credit repair companies claiming that they can remove all negative information in a matter of just days. It does not work this way. To read more about our credit repair service CLICK HERE.