Your credit score is one of the most important assets in your life and if you do not care for it you will end of paying the price. The best way to improve a credit score is simple and can be done without the help of a paid professional.
Pay All Bills on Time
Making on-time payments on all your bills is essential to improving and maintaining an excellent credit score. Even one past due payment can have a great negative impact on your credit score. If you are in a situation where you cannot pay contact the creditor and make a payment arrangement so they do not report a delinquent payment to the credit bureaus.
Dispute Inaccurate Information
Any information that you find on your credit reports that is not accurate can be disputed and removed. Inaccurate information can include a misspelled name, an incorrect amount due, an incorrect date or any missing information on that specific debt. You will need to dispute these items with each of the credit bureaus: Experian, Equifax, and Transunion. This is easily the fastest way to improve your credit score.
Keep Credit Card Balances Low
Maintaining high credit card balances has a high negative impact on your credit scores. Keeping your revolving credit balances below 30% is key to an excellent credit rating. If possible pay more than the monthly minimum payment to pay these accounts down as quickly as possible. This will also save you from paying a lot of interest.
Keep New Credit Inquiries to a Minimum
Although new credit inquiries do not have a high impact on your credit, it can have a negative impact on if you apply for a lot of new credit accounts. For example, applying for multiple new credit cards appears as if you are desperate for credit and gives the impression that you are irresponsible when it comes to credit.
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