| Finding out what a good credit score is all depends on | | | | paid off your credit card every month before you |
| who you ask, and what you plan on using your credit | | | | were charged interest, the credit card company would |
| for. When it comes right down to it, having the highest | | | | not make a dime off of you. |
| score possible is always the best; and here I am going | | | | 2. Applying for credit lowers your score by a little bit, |
| to show you 3 simple things you can do to get a | | | | getting rejected by even more. I have seen a score |
| better credit score. | | | | drop 50 points because they applied and were |
| You credit score is called FICO, it means Fair Isaac | | | | rejected. Only apply for credit if you know you are |
| Corporation, and is named after the people who | | | | going to get approved, never just for the sake of it. |
| invented it,Bill Fair, and Earl Isaac. It basically is used to | | | | And please, don't be conned into apply for a card for |
| determine risk factors when giving out credit of some | | | | those free cheap gifts you get just for filling out an |
| sort. | | | | application. Your credit score is more important that a |
| Now, it's hard to determine what a good score is, but | | | | shiny new pen. |
| usually, anything below 600 is not exactly good, and | | | | 3. Always get an updated report every year, and fix |
| generally anything above 720 is pretty great. If you | | | | any errors that are on it that might affect your score. |
| have a score that is around 600 or less it could use | | | | Fixing an error has the chance to raise your score, |
| some improvement, so here are 3 simple tricks you | | | | because it was a mistake, your score will usually |
| can use to improve your credit score naturally. | | | | reflect that after it is fixed. |
| 1. When you make purchases with your credit card, do | | | | Doing those 3 things through out the year has great |
| not pay off the full balance right away, take a couple | | | | potential to improve your over all credit score, and who |
| of months to pay it off. What this does, is it shows | | | | knows, you may soon be able to apply for that |
| that you make payments on your bills, thus decreasing | | | | mortgage, and see yourself living in that new home |
| your risk factor, and raising your score. Another thing | | | | you wanted, or driving that new car because you |
| this does, is it shows the creditors that they can make | | | | were approved for that car loan. The world revolves |
| some money off of you because you carry a balance | | | | around having good credit, make sure you keep yours |
| from month to month, even if it is small. You see, if you | | | | in tip top shape. |