Want to Improve Your Credit? Read these Credit Improvement Tips.

If you are focusing how to improve your credit you may want to take into account all elements of the FICO credit score. Improving your credit may not have a quick fix, but developing some good habits and repairing bad credit could help to increase your credit score.

The five items that you need to focus on when improving your credit score are:

• 35 % - Payment history - Do you pay your bills consistently and on time? If not, how many times have you been late? Paying your debts as agreed upon over time will improve your FICO credit score.
• 30% - Credit Utilization -- How much revolving credit or credit card balances are you using compared to your credit limit? What is the total of your remaining car loan balance, mortgage, student loans, etc? This category adds them up. It also takes into account the number of active credit cards in your name and their limits.
• 15 %- Length of Credit History - Establishing credit early is important; the longer your credit history, the better your score can be. This allows credit bureaus to view a longer sample of your past transactions. Based on these, they are able to predict your future actions and potential risk.
• 10% - Recent or New Credit - While many think that too much credit activity can hurt their score, new and continued credit activity will actually produce positive results. Applying for too many items within a short period of time, increasing the number of credit inquiries, can hurt your credit score.
• 10% - Types of Credit or Diversification of Credit - Any investor will tell you that diversification is the key to smart planning. The same can be true for your credit score.

Other factors that can impact your credit score:

• Money owed due to a court judgment, a tax lien, bankruptcy, a charge off or similar types of negative marks on your credit report can decrease your credit score and make it more difficult to get approved for a loan.

Now that you understand the elements of your credit score that you need to focus on, read the following tips and techniques that could help you improve your credit score:


Improving your credit tips:

1: Obtain Your Free Credit Report
2: Managing Your Credit Card Balances
3: Dispute Credit Errors Using Credit Report Repair
4: Pay Your Bills on Time

Last year, our clients saw
over 3,300,000** negative
items removed from their
combined credit reports.

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