| If you have bad credit rating and are trying to get a | | | | before using this as a "get-out-of-debt" option. |
| personal loan, buy a car or finance for a mortgage you | | | | Second, make sure to correct errors on your credit file. |
| will need to increase your credit score as soon as | | | | Statistics prove that roughly 75% of credit reports |
| possible. It is a good idea to begin the credit repair | | | | have some type of error, do not be a statistic, |
| process as early as three to six months before you | | | | periodically check your report to be sure that there is |
| plan to apply for any loan or make nay big purchases. | | | | no fraudulent information on it. According to the Fair |
| There are three things you can do to increase you | | | | Credit Reporting Act you as a consumer, are entitled |
| credit score in a snap! | | | | to one free credit report a year. |
| First, get out of debt as much as you can. When | | | | You can obtain a copy of your report by going to |
| calculating your credit score credit bureaus compare | | | | Ignorance is not bliss; it could cost you in the long run |
| your total credit limit to how much credit you used total; | | | | when you need to make a big purchase or apply for a |
| this also includes department store cards, credit cards, | | | | loan so get it taken care of before it becomes a big |
| and other types of revolving credit. The higher your | | | | problem. |
| limit is on the card the more points your credit score | | | | Lastly, update your credit reports for all three bureaus. |
| will plummet; do not go over 35% of your card's limit! | | | | There are hundreds of creditors yet only three |
| Please do not take out a loan to pay off the debts | | | | bureaus. Creditors, although they are supposed to, do |
| either because this will serve no purpose in you | | | | not always report to the three main credit bureaus. |
| improving your credit as the loan you take out will | | | | This is one of the reasons why it is possible to have |
| show up on your report. If you are severely in debt | | | | good credit on one report and totally messed up credit |
| you have an option still! You can take out a loan | | | | on the other two. If you find yourself in a situation like |
| against your 401k. This type of loan does not show up | | | | this send the credit bureaus that are not reporting your |
| on your report however, dipping into your 401k poses a | | | | good information so they can see to it that the good |
| lot of risks so be sure you really need the money | | | | accounts get put on your other two reports. |