| In this article I'd like to address a question I answered | | | | Pay down Your Balances if Able |
| on a credit restoration blog earlier this morning. A | | | | This is a very simple way to boost your score in a |
| reader in great financial distress wrote in a seemingly | | | | heartbeat, and really only takes one cycle of monthly |
| full fledged panic: "my credit score is under 600....help!" | | | | reporting updates to reflect the changes. If you have |
| The truth is, any score in this range is NOT good. You | | | | available cash on hand (the guy above actually DID) |
| are going to have problems getting even "B" grade | | | | you can simply pay down the amount you own on |
| mortgage money, will probably NOT qualify for most | | | | each card. Try to reduce the balance, relative to the |
| unsecured credit cards, and you may even have a | | | | credit limit extended, to UNDER 30% whenever |
| hard time buying a new car. But, even with that said...all | | | | possible. Again, a significant portion of your score is |
| is NOT lost. If you have a quick 60 or 90 days to | | | | predicated on the amount you owe, relative to the |
| invest in your financial future, these 3 simple tips should | | | | amount of credit extended to you, in aggregate. Simply |
| turbo charge your score in short order right back up to | | | | dropping these ratios down to acceptable percentages |
| where it belongs. Let's look at a few of the | | | | is easy, effective and ALMOST overnight. |
| recommendations I made. | | | | Take the Good Credit Challenge, Baby! |