The good news is that raising your score may be easier than you think. However, you first need to educate yourself on how the system works.
Your FICO score - Why is it so important?
The 3 digit FICO score is used to predict your ability to pay bills and loans. If it is very low you are considered high risk by banks, utility companies, car insurance companies or even employers, which can make...
your life a living hell.
The first thing you need to do in order to raise your FICO score is to order your report from the 3 main bureaus TransUnion, Experian, and Equifax. You are entitled to one free report from each bureau per year, but if you decide to pay a small fee you will be able to get a tri-merged report from all the bureaus. This way you will have all the necessary information to work with.
Next you will have to identify all the negative listings that lower your scores and erase them from your record. If you have many late payments or have maxed out some credit cards your score may be very low. Try to take care of these problems. Also, keep in mind that some of your debts may have passed the Statute of Limitations. In this case, you will either have to dispute them or contact the creditors to make arrangements. Inside you report you may find debts that are completely inaccurate or loans that have terms you hadn't agreed to. These listing can be disputed and erased. You will have to write a dispute letter for every item separately and send it to the bureaus to be verified. Keep in mind that it may take them up to 50 days to respond back to you and remove this listing from your report.
But, removing bad credit is not enough. You will also have to build good credit. Try to keep your balance below 30% of the amount you are approved for. If you take the balance over 45-50% of the account's limit, your score will become lower. Many people establish positive activity by using secured credit cards.
Next this is the #1 Way to RAISE YOUR CREDIT SCORE fast. Click Here to find out!
0 comments:
Δημοσίευση σχολίου