Posted by:

CJ Harrington
Keller Williams Realty
www.cjharrington.com
cjharrington.crs@gmail.com
440.336.0612

Date: 09/11/08

Techniqually, there are no quick fixes for improving your credit. Yet, by consistently managing you finances responsibly, you can raise your score over time.  Also, if you use the tips below you will become more financially sound and improve your credit score in addition.

Pay bills on time

This is actually the best way to improve your score.  Even when you have faced serious delinquencies in the past, they will count less over time if you keep paying your bills on time.

Keep balances low

High outstanding debt will generally pull down your credit score.  This means don't go maxing out your credit cards.

Check credit report for accuracy

There may be inaccurate information on your credit report which can be easily cleared up.  So, contact the proper agencies can help increase your credit score.

Pay off debt

Consolidating your credit card debt onto one card or spreading it over multiple cards will not improve your score. The best way to improve your score is by simply paying down the amount you owe.

Manage existing cards responsibly

Paying credit cards and installment loans on time will raise your score. Individuals with no credit cards tends to have a lower scores.

Don't open multiple accounts quickly

Opening too many accounts in too short of a time period can look risky. New accounts will also lower the average age of your existing accounts, and may lower you FICO.

Don't open accounts you don't need

This may actually lower your score.

Don't close accounts to remove it from your record

Closing an account does not removes it from your credit report. Actually, closing accounts can sometimes hurt your score.

Shop for a loan within a short, focused period

FICO scores distinguish between a search for a single loan and a search for many new credit lines, and if you shop for a number of loans over too long a time period, it can count against you.

Always remember to contact your creditors or see a legitimate credit counselor if you're having financial difficulties.

Good luck!

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