credit report - Tips on Raising Your Credit Score

You can save a lot of money by simply raising your credit score. And it isn't that difficult a task. It simply takes time. My husband and I have both raised our scores by over 150 points each in less than two years. Simply through time and some wise decision making. The first step is to check your credit report. You can obtain your credit report for free each year from each of the three credit reporting agencies. We space it out so that we are checking ours every four months or so. This keeps us up to date on what our credit report says. When you get your credit report, you will be offered a credit score for a nominal fee. Go ahead and spend this money for your score. It is a wise investment of your dollars. Keep in mind that each score is calculated differently. They will vary from agency to agency. It may also vary from lender to lender, depending on where they get their scores from. But they will all be in the same ballpark. If you are raising one score, chances are that they are all going up. Review your credit report carefully. Almost 90% of consumers will have false information on their reports at some time. It happens. And it drags down your score. If you see something inaccurate on your report, you need to take steps to correct it immediately. There are several factors that contribute to your credit score. The five major components are: payment history, account balances, age of established credit, recent inquiries and opened accounts and types of credit. It may seem like you should rid yourself of all credit cards due to their "evil." However, this isn't always great for your credit score. When it comes to credit cards, having a few can look good on your report. But you should have little to no balance on these cards. If you have a hard time about using your credit wisely, put the cards in a safe deposit box at the bank. Pay down your balances as quickly as possible. My husbands score is actually held back a little by the fact that he has no credit cards at all. If you have an account with a zero balance, consider keeping it. It can add to your credit history, account balance and payment history. The number one factor to raising your credit score is paying your bills on time, every time. Have them automatically withdrawn from your checking. Make yourself pay them well in advance. Then all it takes is a little time to distance yourself from negative reports on your credit. With time, paid off debts and on-time payments, you are guaranteed to raise your credit score. And you will see savings as a result. You will get better interest rates, more favorable insurance premiums and the satisfaction of knowing that when you need to borrow, you will be able to borrow. A perfect credit score will go a long way for you. Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! Article Source:http://EzineArticles.com/?expert=Martin_Lukac credit report - Ways to Repair Credit If you are searching for certified credit repair specialists, you may be disappointed. Many states do not require licensing or certification. Companies that advertise that they have "ways" to repair credit that are unavailable to the general public may be misleading you. Many companies advertise that their staff consists of certified credit repair counselors. By using the word certified, accredited or licensed, companies attract more customers. People have a tendency to be more confident in a company that appears to be certified or licensed. The Federal Trade Commission monitors credit repair organizations and has set up guidelines that all credit repair organizations must follow. These guidelines are intended to protect consumers from the scams and schemes practice by some organizations. The credit repair organization that led to the establishment of these guidelines claimed to employ certified credit repair counselors and they were state licensed. They claimed to have ways to repair credit that no one else had. They claimed to have computer discs that erased bad credit. They are still in business, but were required to make restitution to a small percentage of their customers. If you want, you can become a certified credit repair counselor. Certification and credential supplying organizations will provide you with a study guide and testing can be completed at most community colleges. For a few hundred dollars, you could start your own certified credit repair business. Just follow the guidelines set forth by the Federal Trade Commission and do not make false or misleading claims concerning ways to repair credit. You could get in trouble for that. Lawyers have a tendency to inspire more confidence than other certified credit repair specialists. They will only suggest legal ways to repair credit report inaccuracies. They are aware of all laws governing consumer credit. They do not need to make false or misleading claims, because, if they have been in business for a while, they can show you the effective ways to repair credit. They can help you achieve good credit, if you are unable to achieve results on your own. Because of the prevalence of identity theft, it is recommended that consumers should view copies of their credit reports on a yearly basis, whether they currently have problem credit or not. Certified credit repair specialists or credit repair lawyers will need copies of their client's credit reports, before they can begin working on ways to repair credit report inaccuracies. For different credit problems, there are different ways to repair credit problems. It is sometimes nice to have the advice of a certified credit repair specialist or lawyer, since there are different techniques and ways to repair credit issues. Even with the Federal Trade Commission guidelines, without state licensing or certification requirements, it is hard to determine just how qualified a counselor is to help you. The best advice is to choose a certified credit repair specialist or a credit repair lawyer. Even though certification is not hard to get, it is better than choosing someone that is not certified. Credit repair can be simple or complicated depending on the issues you are faced with. A credit repair lawyer will know how to advise consumers on the best ways to repair credit issues for their particular circumstances. For more information about the different ways to repair credit issues, visit Credit Fix Solutions.