How to Improve FICO Scores

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In order to improve a FICO score, it's important to know what the current score is by writing a letter to a credit reporting agency. Use money responsibly to improve a FICO score with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser, Patrick Munro, talking about how to improve FICO scores. Improving a FICO score is an important factor for you to look at going forward, because if you do so, you'll be able to get more credit, going forward. Having a great credit rating, is the keys to the kingdom in America, and you can start to establish a better life for yourself, and your family. The way to improve a credit score though, is you've got to know where you score is, in the first instance, so by doing that, you need to send in a letter to the three different credit reporting agencies. The first one is Experian, the second one is TransUnion, and the third one is Equifax. Make sure that your social security number is in the letter, and the address to send the credit report is clear, and you will receive your report in about ten days. Once you get it, read it very thoroughly line by line, looking for any items that are untoward, and if they are, make sure that you fix them, by sending a letter back to the credit reporting agency, with a full explanation. This is Patrick Munro, talking about how to improve your FICO score.

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