Free Online Credit Repair Report Info:
How To Improve Your Credit Scores
• Have Credit Cards & Manage Accounts Responsibly. Having credit cards and installment
loans (and making timely payments) will raise your score. As a matter of fact, this is so important it
accounts for 65% of your credit score. Someone who has not had credit cards, for example, tends to be
higher risk than someone who has managed credit cards responsibly. Also, lower income earners tend
to be at a higher risk of defaulting on accounts (and this is why it is important to have a diversification
of income streams to pay debts on time.
• Pay Bills On Time. Delinquent payments do have a major negative impact on your credit score.
The longer you pay your bills on time, the better your credit scoring will be. A late payment could
cause a borrower as much as 50 points.
• Keep Balances Low On Credit Cards. High outstanding debt can have a strong negative
effect on your score. Maxing out your credit cards could lower your average score by as much as 70
points. As a general rule, dont spend over 40% of the credit line. If at all possible, pay your card IN
FULL when due.
• Don't Open Too Many New Credit Cards You Don't Need. New accounts will lower
your average account age - which could actually lower your score by up to 10 points. On the other
hand, if you have very little, or new credit, applying for new credit could help raise your scores
• Closing An Account Doesn't Make It Go Away. A closed account will still show up on
your credit report. Closing an account (especially a long-standing one) will reduce your credit scores
due to the fact that older credit accounts are a positive factor in your overall financial stability.
• Need More Credit Points To Achieve A Higher Credit Score In A Hurry? There are a
few things that you can do that will have a fairly immediate and positive impact on your credit score:
(1) Pay down account balances to 40% of the credit line or less; (2) Ask for a credit in