| Let's face it - credit score ratings can be confusing. | | | | little research, and found out the best ways to boost |
| Even seasoned lenders can sometimes get confused | | | | my credit card ratings, which I will list here. |
| and give out wrong or outdated information. For | | | | - Keep a close watch on your credit score by |
| example, I was told by a bank manager that checking | | | | requesting a copy of your credit report a few times a |
| my own credit report would cause a decrease in my | | | | year. Not only will you be able to see whether or not |
| credit score because it goes on the credit report as an | | | | the score has changed over the period of a few |
| inquiry. He was partially right, and partially wrong. When | | | | months, but you'll be able to tell if there is any |
| a bank or credit card company checks your credit | | | | information listed in the report that should not be there. |
| report, it does count as an inquiry - a "hard" inquiry, | | | | - If by chance you do see a notation in your file that |
| which always has and always will taken points from | | | | you are absolutely sure was not caused by a |
| your total score. But, a do-it-yourself credit report | | | | transaction made by you, and then it is possible that |
| check is only a "soft" inquiry, and doesn't hurt your | | | | you have been the victim of identity theft. If so, it's a lot |
| score at all. | | | | easier and better to catch it soon after it has started |
| Don't Make The Same Mistakes I Did | | | | than to not know about it and let it continue on for |
| Something else you may not be aware of is that | | | | months before you finally figure it out! |
| closing an old credit card account because you are | | | | - This can be difficult for many people do accomplish, |
| trying to streamline your budget and have decided that | | | | especially around the holiday season. But, don't charge |
| you don't want to use this particular card any longer | | | | things on your card until you have almost reached the |
| will lower your credit score. I made this mistake, and it | | | | credit limit on that card. This will have more of a |
| did lower my credit score by 5 points. I was told by my | | | | negative impact on your credit rating than you realize.o |
| bank guy that the reason for this is that it makes my | | | | Do everything within your power to make sure you |
| credit history seem shorter, almost as if I had never | | | | pay your bills in a timely manner every month! Late |
| had the card in the first place. This was definitely a | | | | payments can really affect your entire credit profile. |
| lesson learned the hard way! | | | | If you are really interested in improving your credit |
| When I found out that I had inadvertently lowered my | | | | score ratings like I am, do your homework and read all |
| credit score, I set to work to find out what I could do | | | | you can about credit and how it works and then apply |
| to make sure I didn't do something like this again. I did a | | | | what you have learned. |