| One of the most important parts of your financial well | | | | credit reporting agencies have five main categories |
| being is your credit score. The higher it is the easier it is | | | | they look at when they calculate your credit score. A |
| to qualify for loans, lines of credit and credit cards. A | | | | deficiency in any one of these or a combination of |
| high credit score will also allow you to qualify for lower | | | | them will cause a low credit score.1. Your payment |
| interest rates for all your credit needs. Lower interest | | | | history: This includes such things as collections, on time |
| rates mean more long term savings for you. And that's | | | | payments and past due accounts.2. How much you |
| a good thing.But what if your credit isn't so good? Bad | | | | owe: Here they look at all your accounts, whether they |
| credit can make getting a loan or credit card much | | | | be mortgages, car loans or credit cards.3. How long |
| more difficult, not to mention the outrageous interest | | | | your credit history is: This is the culmination of all your |
| rates you will have to pay. So what can you do to | | | | past credit history including how long you've had |
| improve your credit score?There are several different | | | | accounts and the activity within your credit accounts.4. |
| options when it comes to improving your credit score, | | | | What kind of credit you have: Mortgage, credit cards |
| but the easiest and cheapest way is to do it yourself. | | | | (revolving), car loans, etc. You want a mixture of these |
| You can pay high priced "credit repair specialists" but | | | | for a better score.5. Any new credit: How much credit |
| chances are they are using the same methods that | | | | have you recently applied for and been granted. They |
| can be easily followed in several low priced | | | | will also look at how many enquiries have been made |
| down-loadable e-books on the market today.If you | | | | concerning your credit score.These 5 things are the |
| don't know what your credit score is you can easily | | | | main issues you will have to deal with if you want to |
| obtain a copy from any of the big three credit | | | | improve your credit score. There are many resources |
| reporting services for free. In the United States federal | | | | at your disposal for doing this, including lawyers, credit |
| law dictates this. Once you receive your credit report | | | | repair specialist, or for a lot less money you can do it |
| see what your overall rating is. The scores normally | | | | yourself.It is important that however you decide to |
| range between 340-850 with any score over 700 | | | | improve your credit score that once you have |
| considered to be very good. Your still in good shape if | | | | improved it to a good level that you keep it there |
| your credit score is in the 600-700 range. Once your | | | | because the money savings you will see through |
| score starts to fall below 600 it's a good idea to find | | | | better deals and lower interest rates will be high. |
| out why and start working on improving it.The three big | | | | |