| Increase your credit score by first getting copies of | | | | that every small reporting error will hurt your scores. |
| your credit report. You may qualify for a free credit | | | | You have to go through this section with a fine tooth |
| report if you have not requested a free report in the | | | | comb. Does your credit report still list old accounts that |
| past 12 months. The other way you can get a free | | | | are dormant? If the credit history is older than 7 years |
| credit report is to have been denied credit recently. | | | | it should automatically be removed. many times these |
| The law provides you the opportunity to request the | | | | accounts are still on your credit report, but even if they |
| credit file from each of the three major credit reporting | | | | are positive remarks, they can still work toward lower |
| bureau's. There are several ways to increase credit | | | | scores because many times the credit balances are |
| scores and most of the are within your control. | | | | wrong. Available credit and the ratio to what you have |
| But critical to higher credit scores is the way you | | | | used is a consideration in calculating scores and you |
| spend money. This is important and is an integral factor | | | | don't want old account information in the mix. Make |
| in calculating your credit. For instance, if you finance | | | | sure you request that it be deleted. |
| purchases at jewelry stores or furniture stores, your | | | | In order to get anywhere with the credit bureau's you |
| credit scores will be affected in a negative way. If you | | | | have to write a dispute letter. The three major |
| seek and get financing from lending institutions that are | | | | reporting credit agencies are Equifax,Transunion and |
| considered "last chance" lenders, you will also have | | | | Experian. There are a couple more, smaller and dealing |
| lower FICO scores. Once you get copies of your | | | | with business credit, but these three are where you |
| credit report, look through them carefully. Nearly all of | | | | should focus your attention. All of them are governed |
| them have errors and many of the reporting mistakes | | | | by the Fair Credit Reporting Act, a group of laws |
| affect you by lowering your scores. | | | | protecting consumers when it comes to credit reports. |
| Any credit score above 700 is considered good and | | | | One law in particular allows consumers to dispute |
| those under 600 are considered to be bad credit. Small | | | | information that is in their credit reports. You should |
| things like the way you pay your bills is important. | | | | understand that each agency will be reporting |
| Besides costing you more money with finance | | | | differently. The reason for this is because they do not |
| charges, paying late on credit card accounts lowers | | | | receive the same information and when they do get |
| your credit score. Lower scores will equate to higher | | | | your payment history from a lender, their software |
| interest rates, which means you are paying more | | | | rates credit differently. For instance, Joe's Auto Loans |
| money each month. It's important to increase your | | | | might report to Equifax, but does not want the added |
| credit score. | | | | expense of reporting to the other agencies. They |
| Another detail in your credit report that you have to be | | | | know that to keep you on the straight and narrow as |
| concerned about is the section detailing your accounts | | | | far as paying on time is concerned, that they have to |
| and payment history. Many people do not understand | | | | report to someone, but maybe not to all three. |