123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL Ľ Business >> View Article


By Expert Author: SusanMill

First of all to understand how to improve your credit score fast or raise your credit score, itís important to know what areas to concentrate on to give you the best results in the shortest possible time.
Itís important to have a good credit score for many reasons. Often people donít realize that a score just a few points higher can save hundreds, even thousands of dollars when they apply for and get a home mortgage, for example. If you have a FICO score around 640-660 and you can raise it to a very good score of 760-780, and you take out a 30-year term home mortgage, you would save about $3000 per year. That adds up to $90,000 savings on that same mortgage!
And raising your score may not be that hard for you to do. Going over the following tips and some secrets you may find a few you can apply immediately and see fairly fast results. Even just a few points can make a difference in your borrowing ability and show you how to improve your credit score fast.
1. About 30-35% of your payment history is reflected in your FICO credit score. No matter what happens, make sure to make payments on time. I make mine 4-5 days early online. Making your payment online is important. You know itís not going to get lost in the mail. Also I make the payment early because websites may have technical problems. If you waited to the last minute you may not be able to get into the website. And I think it looks better to the credit card company if you pay a little early.
If you know youíll have enough money in your checking account you can set up automatic payments also. This is good if you foresee any problems with possible emergencies where you might have to go out of town or hospitalizations coming up, etc.
2. About 30% of your credit score is based on how much you owe. If possible try to keep your balances on your credit cards to less than 50% of the limit on each card. The more below 50% the better.
3. Most people donít know that 15% of your FICO score is based on your credit history. So if you have a credit card that is not being used with a zero balance, and have no activity, it can lower your score. So charge something small each month and pay it off so you build up your credit history.
4. New credit. Make sure not to open up any new accounts. 10% of your FICO credit score is based on how many new accounts you open. This also applies to auto or car loan shopping. If youíre shopping rates at several companies, do it in a short period of time Ė within two weeks. Donít drag it out. Making several requests could affect your FICO credit score. It may be better to just get the loan through your credit union rather than have the finance officer at the car dealer shop around. Each inquiry he/she makes is reflected with inquiry marks on your credit report.
5. 10% of your FICO credit score is based on your mix of loans. You probably canít do much to change this except Ė if you donít have a credit card, get one,
6. Last but not least, if you donít have a credit report, obtain or get a free copy from each of the three major credit-reporting agencies, Equifax, TransUnion and Experian. Go over each carefully and write a letter with documentation if you find any mistakes that are not in your favor.
These are a few of the best ways to show you how to improve your credit score or raise your credit score fast! It really doesnít take that long to raise it a few points and it can make a big difference in your borrowing ability. There are a lot more secrets and trade secrets not included in this short article. With a little more research you can find solutions and repair your credit too.
For more tips, secrets, how to get a free credit report online instantly, fix your own credit and get help with credit counseling and credit disputes Ė get advice and help from a caring credit expert Ė go to http://www.checkmycreditscores.info

Susan Mill

Total Views : 36Word Count Appx. : 716See All articles From Author

Business Articles

1. Communicate Anywhere And With Anyone Using A Best Satellite Phone
Author: Tim Austin

2. The Importance Of Safety Handrails
Author: Duraslide Pte Ltd

3. Air Conditioning Repair Los Angeles Ė Basic Points To Focus On
Author: coryfrank

4. A Regular Eye Exam Is The Key To A Healthy Eyes
Author: Cory Frank

5. Finding A Suitable Moving Company For Your Move
Author: Cory Frank

6. The Wl-250 Tower
Author: Leslie WaterWorksģ offers the largest array of bottleless purification and filtration water coolers

7. Properties In Noida
Author: Sanjay Sirohi

8. Find Bgc Condo For Sale With Ease Through This Tips
Author: rokyfernandis12

9. Find Condo For Sale The Easier Way
Author: rokyfernandis12

10. Things To Bear In Mind While Searching For Condo For Sale Fort Bonifacio
Author: rokyfernandis12

11. Fort Bonifacio Condo For Sale At Budget Friendly Rate
Author: rokyfernandis12

12. The Benefits Of Using Iridium Satellite Phones During Emergencies
Author: Tom Austin

13. Find Right Condo For Sale Fort Bonifacio With Ease With This Guide
Author: rokyfernandis12

14. How To Make Life Easier With Edinburgh Taxi Tours
Author: Gordon Gill

15. Signage Melbourne, Australia Offers Affordable Services To Promote Your Brand Through Signage Advert
Author: jackricklomas

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: