When it comes to making any large purchases today most people will need to take out some form of credit. This could be in the form of a mortgage to buy a house, a loan or hire purchase agreement to buy a car or simply applying for a credit card. When lenders decide whether or not to give you credit they will look at your credit score. If it is good you will get credit, if it is bad you will either be refused or have to pay incredibly high rates of interest. No one wants to do this, so here are six vital methods to get an excellent credit score.
Tip one - get hold of a copy of your credit report. Here you will be able to see any areas of concern which could hold up an application for credit. Knowing the situation is the first step to having excellent credit.
Tip two - try to pay off any high interest credit cards or loans. Doing this will reflect very well on your credit and will help to increase your score.
Tip three - don't be tempted to pay for everything on your credit card. Doing this will only increase your level of debt and make it harder for you to pay off your cards.
Number four. Anyone who makes all of their credit payments on time, yet has missed one payment should speak to their lender. Some lenders will wipe this late payment from your record, so see if your lender will do this for you.
Number five. Maintain your credit report and ensure that it is accurate and reflects your financial situation. Any pay off credit cards or loans which are not showing as paid on your credit report can have disastrous consequences. If you spot something like this get in touch with a credit bureau and get it corrected.
Tip six - when you do use credit cards make sure that your payments are on time. The same goes for any other payments towards existing credit. When you pay all your monthly credit payments on before their due date your credit will improve.
By following these six ways to improve your credit score you will be making steps in the right direction. Having good credit is an essential in life today and by taking charge of yours you can make all the difference.
Tip one - get hold of a copy of your credit report. Here you will be able to see any areas of concern which could hold up an application for credit. Knowing the situation is the first step to having excellent credit.
Tip two - try to pay off any high interest credit cards or loans. Doing this will reflect very well on your credit and will help to increase your score.
Tip three - don't be tempted to pay for everything on your credit card. Doing this will only increase your level of debt and make it harder for you to pay off your cards.
Number four. Anyone who makes all of their credit payments on time, yet has missed one payment should speak to their lender. Some lenders will wipe this late payment from your record, so see if your lender will do this for you.
Number five. Maintain your credit report and ensure that it is accurate and reflects your financial situation. Any pay off credit cards or loans which are not showing as paid on your credit report can have disastrous consequences. If you spot something like this get in touch with a credit bureau and get it corrected.
Tip six - when you do use credit cards make sure that your payments are on time. The same goes for any other payments towards existing credit. When you pay all your monthly credit payments on before their due date your credit will improve.
By following these six ways to improve your credit score you will be making steps in the right direction. Having good credit is an essential in life today and by taking charge of yours you can make all the difference.
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Thanks for sharing. I want to share one more idea to increase your Credit Score. Refraining from making new applications for credit is a very important topic to strive to keep in mind. These types of new requests will bring about a large amount of needless activity on your account. Ultimately, this can really harm your overall score.
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