| Most people think it is a good thing to have tons of | | | | 1. Search for "free credit reports online" in Google. |
| loan accounts. In fact, some may have so many credit | | | | 2. Go through the results and pick out the ones that |
| accounts that they forget about them after opening | | | | offer reporting services. |
| them. | | | | 3. Request for a personal report for the past 2 years. |
| You personally, probably have at least 5-8 credit cards, | | | | Improve your credit score |
| 5 store cards, 2-3 credit lines and much more. A lot of | | | | 1. Once you have your report, find loans that are |
| the money that you own via dozens of accounts | | | | unused by large amounts |
| stays unused and that actually reduces your credit | | | | 2. Call the company and ask to reduce loan to the |
| score. | | | | minimum point (don't close the account because that |
| Yes, unused loans that are doing nothing but are under | | | | hurts your score) |
| your name hurt your credit score. Most people don't | | | | 3. Ask the representative to put in a request to do an |
| realize this but question why their ratings are low. | | | | interest appraisal (once the appraisal comes, this is the |
| Some people might be reluctant to reduce their unused | | | | sign that your credit score has improved). |
| loans but the fact is, it will improve your score. By | | | | You might have many unused loan amounts and by |
| improving your credit score, anytime you need a loan, | | | | reducing them all you will see your credit score |
| the banks or loan offices won't mind giving you a loan | | | | improve anywhere from 80-120 points. That is a huge |
| because of your good score. | | | | improvement in the world of finance. Then you will able |
| So it's a win win situation. | | | | to save money in interest and also apply for loans |
| Here is how you will improve your score by 80 points... | | | | whenever you or your family needs it. |
| Get a free credit report in 5 minutes | | | | |