| How do I improve my credit score? This is a popular | | | | The first step is to get a copy of your credit report |
| question that many individuals have asked themselves. | | | | from all 3 credit bureaus since they may contain |
| This usually happens after you have been denied | | | | different information. Check your reports to make sure |
| credit or are looking to make a major purchase. | | | | all information and entries belong to you and are |
| Sometimes you just are not sure if your credit report | | | | accurate. If you find any inaccurate or misleading |
| is good enough to qualify for a big purchase. So, how | | | | information you need to contact the credit bureau |
| do you improve your credit score? First we need to | | | | involved and dispute those items. By law, the credit |
| know what a credit score is. Your credit score is a | | | | bureaus have 30 days to investigate and get back to |
| number that represents your financial credit worthiness. | | | | you. Any items that are inaccurate or cannot be |
| This number is based on the likelihood that you will | | | | verified must be removed from your report. All the |
| repay a loan or other credit obligation. Lenders use this | | | | experts agree that making your payments on time will |
| number to find out how risky it would be to loan you | | | | increase your credit score over time. You could also |
| money. | | | | open additional credit accounts like a secured credit |
| They also use this number to determine what interest | | | | card and make regular payments on time. |
| rate, and credit limit to give you. Credit scores range | | | | This shows prospective lenders that someone is willing |
| from around 350-800. A score below 600 is usually | | | | to extend credit to you and you are making your |
| considered poor and a score over 700 is considered | | | | payments as agreed. Reducing the amount you owe |
| good credit. The median score is about 725. Keep in | | | | on revolving credit accounts will also improve your |
| mind that your credit score could differ alot between | | | | credit score. Your credit score tends to go down |
| the three credit bureaus. Because the different credit | | | | when you have all available credit sources maxed out |
| bureaus could have different information it is important | | | | like credit cards and lines of credit. Get a handle on |
| to check all three bureaus when checking your credit | | | | your credit score and it could save you thousands of |
| report. If you find out you have a low or bad credit | | | | dollars in interest over your lifetime. The next time |
| score there are ways to repair or improve your score. | | | | someone asks "How do I improve my credit score?" |
| So, what can you do to improve your credit score? | | | | you will know the answer. |