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How to Raise Your Credit Score

How do you raise your credit score? A simple enough question. Raising your credit score means being accepted for credit to buy things like appliances, cars, and homes is easier and hassle free. A high credit score also means your interest rates will be lower and possibly saving you thousands of dollars in interest charges over your lifetime.

Everyone at one point or another will probably have an experience that will lower their credit score. It could be a bankruptcy, loss of job, divorce, or just letting your spending get out of control. So, what steps can you take to improve your credit score if one of these things happened to you?

The one thing that most experts will agree on is to pay your bills on time. This is the most important step you can take to get and keep a good credit score.

If you can't pay your bills on time talk to your creditors. If you keep the lines of communication open most creditors are more than willing to work with you. If you simply don't pay and hope things will work themselves out you are in for a shock. If you wait for your creditors to call you about a debt it is normally too late to save your credit report.

You need to know what is on your credit report. Get a copy of your report from all three credit bureaus. The different bureaus could have different information on your report. You need to verify that all the information on your reports belong to you. The information must be accurate and not misleading.

So, you have looked over your credit reports and found some errors. Don't be surprised. It is estimated that seven out of ten reports contain errors. The first step is to contact the credit bureau with the error and dispute the item. You can dispute items on your credit report that you feel are inaccurate, misleading, or unverifiable. It is up to the credit bureaus to prove that the information is correct. If they can't the item must be removed.

Another option is to contact your creditors directly. Many creditors are happy to remove items like late payments and charge offs once you bring your accounts current. If you continue to be a customer of theirs it is in their best interest to keep you as a happy customer. Your creditors have the ability to remove items if they feel it will benefit them.

Once you have a good credit score it is important that you monitor your credit reports regularly to make sure errors do not reappear on your credit report. Most experts recommend getting a copy ever six months to a year. Don't let all your hard work be for nothing. Learn how to raise your credit score and keep track of it so you don't repeat the same mistakes.

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Learn how to improve your credit score and increase your rating. For more information on credit reports, credit repair, and credit monitoring services please visit Credit Report Improvement. This article is free for republishing
Source: http://www.articlealley.com/article_93020_19.html


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