Annual Credit Report

Find Information on How to Get Your Free Annual Credit Report and Credit Score.

Raise Your Credit Score

Raise Credit Score - Understand the System

Learn 2 easy tips to improve your credit score. Learn what factors are weighed heavily when you credit score is calculated.

Raise Credit Score - Understand the System

If you are cleaning up your credit report then you understand the importance of your credit score. Your credit score can impact your lifestyle more than by how much money you make.

With a bad credit score you may be having employers turn you away from a job. You may be unable to purchase a home or get approval for an auto loan or a credit card. On occasions when you are approved it is at sickening interest rates.

However if you can learn how the credit system works then you can use it to your benefit. You can create a higher quality of life for yourself and your family without earning any extra income.

When the credit bureaus calculate your credit score they use an algorithm. They plug in your information including payment history, types of accounts, balances, ect., and then a computer calculates your credit score.

This three digit number is the yardstick by which employers, lenders, and others see your creditworthiness. In fact, most new credit transactions a lender never looks at anything other than your credit score. You are judged solely by this number.

Let us discuss how to use this system to your benefit. There are two things that carry more weight in the credit system algorithm than any others.

1. Delete negative inaccurate accounts. Derogatory credit items do the most damage to your score and should be removed as soon as possible.

2. Maintain an unsecured revolving line of credit. This is an easy technique that almost anyone can do.

The actual credit bureaus algorithms are protected and not released to the public. However upon review of thousands of credit files it has been found that having an open account is almost as important as removing negative credit items.

The reason an unsecured revolving line of credit helps your credit score is because:

1. A credit line adds a trail of positive payment history. The credit bureaus also like to see an account that is aged.

2. Improves your debt to credit ratio. The credit bureaus reward people who have high available credit and low outstanding debt.

This credit line will carry more weight if it is unsecured such as a car loan or credit card. However if you are unable to get approval, then you should consider a secured credit card or a secured loan.

A credit line will help build credit however it is most important to remove bad credit items. If you are unable to get approval for new credit immediately and don't want a secured credit line then remove bad credit and then reapply.

By removing bad credit items and building credit, you can achieve a 700 credit score and enjoy a better quality of life for you and your family.

Article Tags: Raise Credit Score, Credit Score Understand, Raise Credit, Credit Score, Score Understand, Credit Card, Credit Bureaus, Credit Items, Credit Line

Source: Free Articles from ArticlesFactory.com

Next page: Credit Report Score


Bookmark/Share This Page:

ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE ADD TO MAGNOLIA ADD TO NING ADD TO RAWSUGAR ADD TO SPURL ADD TO TAGTOOGA

  Bookmark and Share

Recommended Products

Get The Debt Help You Need

First Choice Capital Resources - offers a fast, secure, and private way to borrow the Cash you need! Borrow Cash now and have ample time to pay it back.

Get up to $5,000 to use in any manner you like
60 second Cash approval
Great repayment terms
Bankruptcy and poor credit OK
Fast, secure and confidential

Getting the cash and credit you need has never been easier. Fill out one simple online profile and we will match you with multiple lenders. No lines, no hassles and no paperwork! Click here to Sign Up Now.

Credit ENHANCEMENT

Receive Full-Service Credit Enhancement

Start getting your credit back to where it should be by monitoring and managing negative items that may be unjustly counting against you on your credit report. We recommend a company called Riverwalk Credit Solutions to help you correct inaccurate credit items and get your score as high as possible.

Get immediate access to your credit profile, quickly analyze your credit items, and instantly begin disputing the errors and inaccurate items on your credit report.

  • A full-service credit enhancement program for a low, affordable price.
  • Fully compliant with all Federal regulations, including the FCRA and CROA.
  • Improve the accuracy of your credit reports at all 3 major Credit Bureaus.
  • It's easy - we're here to help you every step of the way.
  • Begin your Credit Enhancement now. It takes just minutes to get started.

Click here to fill out the form on the next page and a credit specialist will contact you to discuss your