| To fix credit rating there are some minor movements | | | | from some bank that said you can transfer your |
| that seem like a good idea and a logical thing to do | | | | current 1,000 balance at your current credit company, |
| that end up dropping your credit score and leave you | | | | to them and have zero interest for 2 years. The new |
| puzzled as to what happened. The three points below | | | | company is going to issue you a new card with a |
| are common occurrences, I know, it happened to me | | | | 2,000 dollar limit to start. Sounds good and it is, if you |
| when I started to work on finding a fix to my credit | | | | do it and leave the original credit card open. If you |
| rating. | | | | transfer and close your account with your first creditor |
| To fix credit rating you'll have to dispute some of the | | | | you will have lost ten years of credit history and your |
| items you find on the report. Its common to have easy | | | | total available credit would be at 50% of its max. |
| fixes. For example, having the creditor report your | | | | Giving you to high a ratio, if you leave things as they |
| account in the best way possible for your score is one | | | | are you would have only 10% of your credit used. See |
| way to fix the credit rating. Many times they simple | | | | the difference. Not to mention all the years you would |
| report an account as paid. Instead of paid as agreed. | | | | lose. This happens to often and people don't see why |
| Paid as agreed, gives you slightly higher points, about 4 | | | | it's negative. |
| to 6 more points. Multiply this by a few accounts and | | | | Another, common fix credit rating miss conception is to |
| were talking about 15 to 18 points. | | | | pay collections that have been lingering around for a |
| If you're looking to fix credit rating for something | | | | couple of years. You know the ones you know are |
| specific, for example buy a home or a car. Don't make | | | | there. They aren't high and they're now telling you |
| the common mistake of closing any accounts. Closing | | | | they'll take 35% of what the total is. Paying it of is |
| accounts is one of the single most damaging moves | | | | good. Not getting a deletion letter is not. It reflects |
| you can do to your credit. At times we figure "well, if I | | | | negatively when you pay because it brings the |
| don't have that debt. It'll look better when I shop | | | | collection back current. As the collection ages its |
| around." Wrong. Closing accounts cuts your total | | | | negative effect diminishes. When you pay it, it's |
| available credit and credit history. | | | | brought back to life, giving you again the opposite |
| Here's an example. Let's say you got your first credit | | | | effect. If you're paying it off to make a credit purchase |
| card at 18 and you were the most exemplary | | | | you're going to be very surprised when you notice |
| borrower ever and you are now 28 with the same | | | | your credit score lower instead of higher. |
| credit card. Ten years of payments on time would | | | | Those are a few of the pointers I picked up from |
| have earned you a higher credit limit, lets assume | | | | working on my credit recently. Hope they help. |
| 10,000. Now let's say that you got an awesome offer | | | | |