How to Raise Your Credit Score 5 Tips That Can Help

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(No Transcript)
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How to Raise Your Credit Score 5 Tips That Can
Help
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• Credit means everything in todays world. It
  affects a persons ability to buy a car, a home
  and even insurance rates. With so much emphasis
  placed on good credit, it is imperative a person
  knows how to raise your credit score. With a good
  credit score, which is typically defined as a
  score above at least 650, moderate interest rates
  on credit cards and loans are offered. This can
  save a great deal of money in the long run. These
  5 tips will help increase a score and afford a
  person the luxury of more credit with better
  rates. 1-Pay every bill on time even if the
  payment sent is just the minimum amount due. One
  late payment can dramatically reduce a credit
  score. It doesnt matter if it is only a day
  late. Late is late and it will negatively impact
  the overall score. If a payment absolutely must
  be late, contact the creditor and ask for an
  extension. Most companies will offer to do this
  once a year. 2-Avoid having a bill sent to
  collections. Even if the bill is paid off, the
  collection report will stay on a credit report
  for seven years. Work with a creditor to arrange
  monthly payments before a bill is sent to
  collections. Most creditors will accept monthly
  payments as long as the payments are made on time
  every month. 3-Avoid paying off all credit card
  balances completely. If you want to know how to
  raise your credit score, it is best to have a
  balance on credit accounts that monthly payments
  are made to. This proves the ability to maintain
  regular payments and will help to increase a
  credit score. 4-It is crucial a person pays close
  attention to his or her credit report. Any
  unauthorized charges should be disputed
  immediately. This can also be an indicator of
  identity theft. As soon as a suspicious account
  appears on a credit report, it should be
  investigated immediately. 5-Avoid closing
  accounts that are not currently in use. Scores
  depend heavily on credit history.

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• Pull out an old credit card and use it for minor
  purchases from time to time to keep it active.
  The older a credit history, the better it is for
  a credit score. These tips are some of the
  easiest for a person to implement. The tips
  provided will help improve a score in a matter of
  months. For those who have a goal to buy a new
  car or a home, it is a good idea to star working
  on improving a credit score at least six months
  to a year before applying for a loan. This
  ensures the best rates and gives plenty of time
  to work on getting negative marks removed while
  ensuring regular payments are being made. When
  you are trying to find out how to improve your
  credit score, be wary of programs that charge a
  lot of money before any work is done.

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