This Article is About
high interest rate
score one
no doubt
credit history
credit rating
credit cards
caution
credit report
Ways To Improve Your Credit Score
Join 1000's of Authors at StreetArticles Today!

Your credit score, no doubt, is a very useful number that lenders need to know whether or not they will extend credit to you. It also dictates what the interest rate and terms of the credit or loan will be. The lower your score, the less likely you will be considered for loans. And if you are eventually considered, you may have to pay a very high interest rate. So, it is vital you learn of ways to improve your credit score.

One of the ways to improve your credit score is to make your payments on time. This is the single most vital thing you must do to keep your score high. Your credit history is a major factor to determine your credit score.

One of the ways to improve your credit score is NEVER to allow payments that are past their due date or about 30 days linger for too long in your account. This will negatively impact your credit score and affect your credit rating. And you know what? The negative scores will stay on your credit report for at least seven years. I bet, you will not want this to happen to you!

Keeping your total debt under control is also one of the ways to improve your credit score. You need to keep borrowing under control as your credit score will bring to bare the total amount you owe.

If you have a significant amount of debt you owe at the moment, I will advise you stop borrowing and consider ways to improve your credit score, by lowering the balance. I know it is not easy. But you need to stop borrowing or using your credit cards, as you do your best to make timely payments that will reduce your balance.

Be sure to keep your old account open as one of the ways to improve your credit score. The length of your credit history is a vital factor to your credit score. While you like to keep the number of accounts manageable, it can negatively affect your score more to close an old account than to leave it open. Even if it means that you have more open accounts, it pays!

Finally, one of the ways to improve your credit score is to exercise caution when you want to open new accounts. I know your new account is the least factor to your credit score, yet, it is an important factor to consider.

When you are shopping for a new loan or credit card, do your shopping in a relatively short period of time. You will not want your report to show that you are always looking for credit, will you? I know you will not want to open an account you don't want to use either.

I know it may be tempting to get the additional 10% off when you open a new retail score card. But you will want to resist the temptation because the meager amount you save with a new cannot measure with the negative impact on your credit score.


Street Talk

No comments present
You May Also Like
3 Strategies For Reducing Your Current Debt
The No. 1 way of reducing debt is to reduce monthly expenditures. One way to recognize your potentially fatal spending habits is to keep a record of every expense made for one month. You might be surprised to know the result! At the end of each month, you could see…
By: David Dicristo in  Finance  >  Debt Management   Sep 17, 2012  
0
  Likes: 0

Get Rid Of Payday Loan Debt In Indiana
After researching this state, I felt the need to write an article on how to get rid of payday loan debt in Indiana. The laws of this state favor the lender and the chances of setting yourself up for a trip to the payday loan trap is very easy. This…
By: Shawn Lee  in  Finance  >  PayDay Loans   Nov 07, 2012  
4
  Likes: 4

Forex Vs Stock Market – What Is the Better Choice
Forex has gradually picked up with small investors who dream of making it big with small capital. In the race between Forex vs stock market, foreign exchange trading definitely has a decisive leading edge over the later. Forex market is highly liquid with single day trading going well above four…
By: Prav Garg in  Finance  >  Currency Trading   Jul 26, 2012  
0
  Likes: 1

How To Improve Credit Score Fast
There are a number of ways you can learn to improve credit score fast. If you intend to buy a house or car very soon, you will need to clean your credit so that, you can qualify for an affordable interest loan. With due diligence on your part, you can…
By:  in  Finance  >  Credit Tips   Dec 30, 2010  
0
  Likes: 0

Is Debt Consolidation A Good Idea for Credit Card Debt?
Yes, or well, the more accurate answer is that it certainly can be. It depends on how you handle the debt consolidation process through to the end. Debt consolidation is a process where you get some new financing and use it to pay off all of your old debts, in…
By: Jennifer4 in  Finance  >  Credit   May 30, 2012  
0
  Likes: 1

How to Become An Ebay Seller
Make an extra $300 a week selling on ebay. I don't think I know of anybody that couldn't use an extra $300.00 a week. What about you? Think of the thing you could do with that extra $1200.00 a month? You could start a vacation fund, pay off some high…
By: Bill Basinger in  Internet and Businesses Online  >  Auctions   Nov 19, 2012  
0
  Likes: 0

Payday Loan Laws In Florida
If you are thinking of getting a payday loan and you live in this state you need to check out the payday loan laws in Florida before you take the plunge. They are very much lender friendly and are set up around existing lender laws so they can legally do…
By: Shawn Lee  in  Finance  >  Debt Consolidation   Oct 29, 2012  
13
  Likes: 6

No Financial Aid?!?! What The?!
You finally graduated from high school, huh? Congrats....that was a great accomplishment. Ready for college? Yea, I was too. Applied for financial aid? Great. I hope you get it because I didn't. Why? Because my parents make to much money. Or I might refer that and say my daddy makes to much money…
By: CaciaB in  Finance   Oct 05, 2011  
0
  Likes: 1

Payday Loan Laws In Alabama
If you live in the state of Alabama and are thinking of taking out a payday loan before you act on it be aware of the payday loan laws in Alabama. You can take out a payday loan in Alabama for a duration of 10 to 31 days at the…
By: Shawn Lee  in  Finance  >  Debt Consolidation   Oct 31, 2012  
4
  Likes: 5

Dixit Odyssey Board Game - Inventive And Inviting Social Game
Dixit Odyssey is a complete board game together with options for expansion - including adding the previous two Dixit Games! for Jean-Louis Roubiras beautifully produced, Dixit, which gained Germany's Spiel des Jahres board game prize in 2010. Game period of play in Dixit Odyssey corresponds that of Dixit : Each…
By: David Trounce in  Shopping and Product Reviews  >  Toys   Jan 26, 2012  
0
  Likes: 0

How to Get the Best Cash Back Credit Card?
Selecting the best credit card provider is certainly not an easy job. You need to consider a number of important parameters and the fulfillment of each and every parameter will dictate your selection. The key to an effective credit card search process is research. Talk to friends. Talk to acquaintances.…
By: Zara Ali in  Finance  >  Credit Tips   Feb 23, 2016  
0
  Likes: 0

How To Raise Your Credit Score With These Simple But Effective Credit Tips
Many people across the nation share the problem of a negative credit score. Many of those people are seeking easy ways to increase their score so that they can qualify for better rates and bigger loans. This article is full of ways that you can improve your credit score easily.…
By: Darin Sewell in  Finance  >  Credit Tips   Nov 17, 2011  
0
  Likes: 1

How to Effectively Remove Inquiries From Your Credit Report
A lot of people do not know this, but inquiries on a credit report can drastically and negatively affect theirability to get financing. In fact, having just 6 inquiries on your account within a short 6-month period can render you automatically disqualified in the eyes of many modern lenders. Despite…
By: Farrah Graham in  Finance  >  Credit Tips   Oct 30, 2015  
0
  Likes: 0

How To Prevent Bankruptcy
There are many things you have to know about learning how to prevent bankruptcy. All boils down to learning how to prevent bankruptcy if you must be able to manage your finances well. You need to find out if there are some things you need to do so as to…
By: Scott Newman in  Finance  >  Credit Tips   Dec 29, 2010  
0
  Likes: 0

How to Fix And Maintain A Good Credit Score
Getting Out Of Debt Did you know that a simple three-digit number could be that singular factor that could be standing between you and your dream? This could be buying a car, purchasing a home, starting a business, or even something as simple as managing your personal finances. Your chance…
By: Shawn Deny in  Finance  >  Credit Tips   Oct 19, 2015  
0
  Likes: 1

Article Views: 1004    Report this Article