High credit Scores will save you a lot of money. Your
interest rates will be much lower. In addition, you will be able to get
a loan for something you may need (like a house)!
Ten Steps To Improve Your Score
1- Pay bills on time. If you are a teenager, this means once month.
2- Keep balances low. If you have a high limit, only use 5% of the balance.
3- Let accounts age. Do not close down good old accounts.
4- Accumulate no more than three revolving accounts. If you have more
accounts than this, start closing the most recent accounts.
5- Make vehicle loan payments for at least four years to get maximum
fico points.
6- Don't apply for credit more than once or twice every thirteen months.
If you don't need to apply, don't because it will negatively impact your
score.
7- Check your credit report and dispute innacurate items.
8- Talk to past creditors to see if they will help you clean up your
credit report. Sometimes they will help, if you pay them in full and are
courteous.
9- Get higher limits on your revolving accounts, but don't increase balances
owed.
10- Carry a low balance on revolving accounts for six months and then
pay them off completely. This helps you establish that you can handle
paying on time and that you won't go crazy using every bit of credit issued
to you.
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