How to Elevate Your Credit Score

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By starlet67
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Elevate Your Credit Score

The higher you can raise your credit score and show you are a responsible borrower,the better your chances of getting better rates which may include insurance premiums. A score of 700 or higher is considered good. Here are some tips on getting there.

Difficulty: Moderately Easy

Instructions

Step 1

Obtain a current copy of your FICO score

Most lenders go by the FICO formula because it is considered the
most accurate. Go online to myfico.com to order your report.
You will immediate access to your number as well as tailored advice
based on your credit history. Note any steps you need to take to
improve your score.
Step 2

Check for errors

It's estimated that 80 percent of credit reports contain at least one
error. To help eliminate errors on yours, get a report every 4 months
from one of the three credit bureaus. If you find any mistakes you
will need to send the bureaus the corrected information.
Step 3

Use Less of your credit limit

Pay down your credit cards as quickly as you can.
Even if this means taking on a part-time job.
You want to show potential lenders that you spend
within your means and this means not maxing out
your credit cards. If you have managed to do this,
ask your card issuer for a credit line increase because
if you get it and you don't charge anymore, it will
lower the percentage of your credit limit being used.
Also, avoid applying for any new credit cards.
Step 4

Pay on Time

This is critical if you want to elevate your credit score.
Even if you only pay the minimum, be sure to pay on time.
Tracking your account online and sending a payment before
your card's billing cycle ends can help prevent missed payments.