Five Tips To Increase Your Credit Score

Statistics show that 80% of Americans have either bad or erroneous information on their credit reports. That means there’s a great chance credit repair could be right for you.

It is only after ten years pass and the Primary Tradelines does not make a mention of the bankruptcy will your financial life come back to normal. 10 years-a very long time. A 35-year old middle aged man will be an old man entering the last stage of his or her life. Do you want to waste 10-years of your life just because you felt there was no other alternative?

If you are trying to repair or improve your credit score, do not co-sign on a loan for another person unless you have the ability to pay off that loan. Statistics show that borrowers who require a co-signer default more often than they pay off their loan. If you co-sign and then can’t pay when the other signer defaults, it goes on your credit score as if you defaulted.

As a quick re-cap, ways of improving credit score – try to have about 5 to 7 open high limit tradelines constantly working your credit. Do not charge more than 50% of your limits. Try to increase your limits when you can, but do not apply for a lot of credit on a constant basis. Oh and just in case the obvious was missed, pay these bills on time! You never want to pay a bill 30 days or more beyond it’s due date because that is when it is going to show up as a negative mark on your credit report.

Checking into your existing credit report for errors and inaccuracies is a really significant aspect to make an effort to look at. Sourcing a copy of your existing credit report is undoubtedly the first part of this procedure. The next element here is to dispute in writing errors you unearth. The fixing of errors is going to really boost your credit rating.

Secured cards allow you to pre-load funds from $200 to $1000. You don’t really have to worry about approval since they are not lending you the money, it’s your money you are spending. This makes it very easy for you to start rebuilding your credit fast.

Live Like a Millionaire – Guess what most millionaires have in common… If you answered that they’re completely debt-free, you’re absolutely correct. Financial blessings and debt don’t work well together at all. And sure, money doesn’t exactly buy happiness, but not having money does contribute to a state of perpetual unhappiness. Pay off the credit card bills in full and the momentum will encourage change for better financial health.