Easy Ways to Improve Your Credit Score
For anyone with bad credit they are always looking for ways to improve their score.
Even if you have a good score you still may wish to improve your score as a good score means you can get excellent rates when applying for a loan or mortgage.
Many things can affect your score but the two main contributors are your payment history and the amount of time you have had credit.
One of the easiest ways to improve your score is to pay off your credit cards so that your limit is under 50% of your credit limit.
Anytime your balance begins to go over this number your score will begin to drop.
You can do this by paying down your credit card or you can attempt to get a credit limit increase so that your current credit balance is 50% of your new credit limit.
If neither of those options are available then you can spread the amount over several cards so that all of your cards are under 50% of their limits.
You can also have a friend of family member that has a great score and see if they will add you as an authorized user to their card.
This card should have a low balance to limit ration and this can add positive history to your credit report.
However if your family member or friend all of a sudden starts to charge on that card and near their credit limit then this will also affect your credit report.
One of the best things you can do is to use a secured credit card that can quickly add positive points to your credit report.
A secured credit card is very easy to get and in order to qualify you simply need a job and a way to repay the card.
The lender of the card will hold the cash deposit that is equal to your credit limit and then you can spend up to your credit limit on that card.
If you are looking for further ways to improve your credit score then you should speak to a credit counselor, as they will have a fountain of information available.
Even if you have a good score you still may wish to improve your score as a good score means you can get excellent rates when applying for a loan or mortgage.
Many things can affect your score but the two main contributors are your payment history and the amount of time you have had credit.
One of the easiest ways to improve your score is to pay off your credit cards so that your limit is under 50% of your credit limit.
Anytime your balance begins to go over this number your score will begin to drop.
You can do this by paying down your credit card or you can attempt to get a credit limit increase so that your current credit balance is 50% of your new credit limit.
If neither of those options are available then you can spread the amount over several cards so that all of your cards are under 50% of their limits.
You can also have a friend of family member that has a great score and see if they will add you as an authorized user to their card.
This card should have a low balance to limit ration and this can add positive history to your credit report.
However if your family member or friend all of a sudden starts to charge on that card and near their credit limit then this will also affect your credit report.
One of the best things you can do is to use a secured credit card that can quickly add positive points to your credit report.
A secured credit card is very easy to get and in order to qualify you simply need a job and a way to repay the card.
The lender of the card will hold the cash deposit that is equal to your credit limit and then you can spend up to your credit limit on that card.
If you are looking for further ways to improve your credit score then you should speak to a credit counselor, as they will have a fountain of information available.
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