Your Credit Score: Swing for the Fences

It is the most important rule of any sport or competition:record.
High score wins.There are other ways you can learn about boosting
Whether you love football, baseball, basketball, hockey,your credit score. Stephen Snyder, who knows
or even rock-paper-scissors, the key to winning isfirsthand about financial struggles and how to rebound
getting the highest score. And the same is true when itfrom them, provides an in-depth manual that tells how
comes to your credit. Score high and you will score big.you can improve your credit score - and how that can
A high credit score is everything in your financial life. Amean lower interest rates on your credit cards, higher
high credit score is to your life what 40 points a gamecredit card limits, lower car payments, lower insurance
is to Peyton Manning's - money in the bank. Why?rates, and more. That could have you well on your
Your credit score tells people - specifically banks,way to buying that car of your dreams, whether it's a
lenders, and credit card companies - how good yourMercedes or a Toyota Prius.
credit history is, which is critical when it comes toPhilip Tirone is another good source for ways of
getting loans or lines of credit.upping your credit score. His audio book, 7 Steps to a
Your credit score is determined by a host of factors,720 Credit Score: How to Win the Credit Score, allows
but basically the things that most influence your scoreyou to listen and learn the seven little-known rules of
are your total amount of credit, your total amount ofcredit. You can turn poor credit into great credit and as
debt, late payments, non-payments, defaults anda result save hundreds of dollars each month.
bankruptcies. Who determines your credit score?According to Tirone, even if you've been denied credit
There are three major credit reporting agencies thator think your credit is beyond repair, you can still raise
give out scores: Equifax, Experian and TransUnion.your score up to 720, the key number that can get
Each of these agencies has up until very recentlyyou the best interest rates and loans.
used their own system for calculating your creditWhen checking your credit report, you also want to
score. But that's currently changing thanks to amake sure you haven't been the victim of identity theft.
decision by the big three to create a uniform systemIdentity theft can really mess up your credit score.
for calculating credit scores called VantageScore.Identity Guard provides a service that both helps you
Equifax, Experian and TransUnion will continue to issuefigure out your credit score and make sure someone
separate credit scores for each person, but withhasn't stolen your identity. Furthermore, Identity Guard
VantageScore, your three credit scores should bewill continue to monitor your credit history and alert you
virtually identical. That's the plan, at least.if someone tries to use your personal information to
In any event, you want your credit score to be 650 oropen accounts in your name.
higher to get the best rates from banks and creditors.US Search also can help when it comes to identity
How can you find out your credit score? It's easy.theft. They will provide you with a comprehensive
If you go to you can get a free copy of your creditreport that tells you if anyone has used your identity
report from all three credit agencies that will not onlyillegally. Their Personal Record Profile report includes a
include your credit score, but important details about10-year history and information not only about you but
your credit history. It is important to look at your creditalso those you have lived with or near who may be
report because often times a credit report will haveaffecting your credit.
mistakes in it - which can mean a lower credit score. InUnlike football or baseball, there's no such thing as
fact, according to one report by the US Public Interestrunning up the score when it comes to your credit
Research Group, 70% of credit reports have errors inscore. Aim high, and you won't be sorry.
them. If you find mistakes, you can contact themCopyright 2006 Find Your Prosperity.
directly, in writing, to point out and rectify your credit