Tips to Improve Credit Score | Mark Lewis And Clark Finance

Keeping a firm eye on your personal finances is hugely important, especially if you want to improve your credit score. A good credit score is something that everyone should aspire to have, especially if they want to buy a new house, car or even a flat-screen HD TV. For those of you who either want a perfect credit score or simply want to improve it when trying to reduce your debts, what can be done to reach those goals? Here are some top tips that could help you to boost your credit rating:

• If it?s possible, try to get a copy of your credit report. If your bank or any specialist website will let you, you?ll be able to find out what your credit score is and why it?s at that level. You can receive a free credit report every twelve months, which, with a little luck, will be both detailed and easy to read. A credit report will explain why your score is either high or low, and if it?s not as good as you initially hoped, you?ll be able to work out how to correct that.
• Pay all of your household and credit card bills on time. It?s a no-brainer, but paying your rent, gas, electricity, water and credit card bills on schedule should help to improve your credit score significantly. If you?re punctual with your bills, then you?ll find it easier to make important purchases, take out a mortgage or a personal loan. Setting up an automatic payment system with your bank, energy suppliers or creditors will help to make it easier.
• Find out what helps to determine how good or bad your credit score is. Typically, a good credit score comprises of the following: whether you pay your bills on time; any outstanding debts that you may have; how long your credit history is; whether you have applied for any new or additional credit recently and the number and type of personal credit accounts you have. If you don?t borrow regularly or you pay back your credit in full and tick all the other boxes, then it?s likely that you?ll have a good credit rating. If not, do what you can to pay back debts and only use credit cards and loans if they?re absolutely necessary.
• Be aware of any credit scams. You should only try and receive a credit report through an approved provider with certification from the government. Anyone who charges you for a credit report is worth avoiding, as they should be free of charge.

By following the tips listed above, you should ensure that you both have a credit report and know what your credit rating is. Then, you?ll be able to identify ways of improving your credit score, which could be the first step towards improving your personal finances and living within your means. It might sound like hard work, but with a little bit of care, you can cut your debts and stand a greater chance of being approved for a loan or credit card.

About the author:

Matthias Gottlieb is a personal finance expert who works online with websites like payplan.com, offering tips on how to get out of debt.

Source: http://www.marslewisandclark.com/tips-to-improve-credit-score/

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