Wednesday, June 16, 2010

6 Tips To Improve Your Credit Score

If your credit score has taken a hit, then it’s high time you did something to get it back in order. There are a few methods which if you follow then certainly you will see your credit score move up on the grid

1) The first thing you need to do is get a copy of your credit report. You need to keep all details of your past addresses for the last three years with the post code.

2) You need to stay away from all the people who offer tips to improve your credit score for a meager sum. There will be those who will talk flowery and try to impress you with their expertise, but the suggestion is to be skeptical about such things.

3) Never keep high balances on your credit. It is easy to say but difficult to follow and everybody knows that. But you need to make some sacrifices in your recreation and on other miscellaneous expenses and try to pay off small bills from time to time and never keep anything pending. The bigger payments do take time to settle of course. Don’t keep any short-term payments overdue.

4) Keep track of all the bills from time to time and maintain a record of your monthly and weekly payments. Maintain a diary where you can remind yourself of your debts and which bills you need to pay and when Required Mortgage Paperwork. This way you will know how to target them and manage your income. Alertness is the key.

5) You can also setup an automatic account from which the bank will deduct a small fee for your payments. This will ensure you don’t forget what you have to pay. Rather this could be the best way to avoid late payments.

6) Always keep track of your credit report for inaccuracies and if you find any you should rectify it immediately.

This is a good method to maintain a good credit report although it needs a bit of disciplinary effort.