PROVEN STRATEGIES TO IMPROVE YOUR CREDIT SCORE

There are three main strategies to improving your credit and boosting your score. The first and most obvious is to continue paying all debts on time. If you have the money, but are sloppy with paying your bills, try utilizing your bank's on line banking system. You can automatically set up your account so that each bill is paid on the same day each month electronically. This method will ensure the timeliness of your payments. The second strategy is to payoff any existing collection accounts, either by negotiating a partial settlement with the creditor, or paying them in full. Once all judgments and collections are paid your credit scores will improve quickly. Many of my customers' scores have improved 20-40 points within weeks of clearing their debts. The third and probably the most important strategy is to pay down any outstanding credit card balances to less than 50% of the credit limit. By having a balance near the maximum limit makes it appear that you may be living on credit to sustain yourself and could be a candidate for impending bankruptcy. If you don't have the money to pay down these balances, try contacting each credit card holder and increasing the credit limit. This strategy is especially effective to raise the scores because an artificial inflation of the credit limit will do the same thing as lowering your balance. These are all effective and rapid ways of improving your credit scores.