Boost Credit Score - Little Known Secrets To Effectively Raise Your Credit Score

65% of your credit score is determined on the basis of the total amount of debts owe and the regularity with which you pay your debt

. More often than not, people behave as if the 65% figure is actually a 95%. They simply ignore the other 35% factor.

This depends on the number of inquiries that have been made on your credit report, the debt mix and the age of the debts. If you have successfully retained your credit card for many years at a stretch, it is obvious that you are a good bet.

On the other hand, if you get a new credit card every 6 months, it is obvious that you are not in a position to manage your finances properly. Hence, do not ignore the 35% factor. If you give adequate attention to this aspect, you certainly will enjoy a good boost in your credit score.

Even as far as the debt amount and the debt repayment schedule factor is concerned, there are many secrets to boost credit score very quickly. Borrow money from your friend or relative and bring your credit card down to less than 50% of the total amount owe. Do this for each and every credit card you owed.

This will reduce the interest payment and will boost your credit score. This will further reduce interest payment and leave extra cash in your hand to repay to your friend or relative.

Further, stay away from those debts that have been charged off unless you are certain that repaying it will boost your credit score. You can also make this a point of negotiation. You can explain that you are eager to repay but you do not see any motivation to do so because it is only going to pull your score down.

Once the lender agrees to give you a positive feedback, it will boost your credit score and will go a long way in boosting your morale as well.

Of course, a common secret that most of us ought to exploit is the presence of many errors and disputes in the credit report. As long as you take advantage of this factor, you will boost your credit score very quickly without any difficulty.

Always go in for those solutions that offer a permanent relief. Do not go in for solutions that simply result in a cosmetic increase without any real change in your credibility.

There are options available to repair bad credit and raise your credit score. Something as simple as disputing negative items can help. These items can be erased from your credit report, resulting in a significantly higher rating. Click the following link for more information on how to repair bad credit quickly and legally:

Credit Report Repair

by: Rose Graham

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