Boost Your Credit Score Permanently And Legally - 2 Important Tips

Boost Your Credit Score Permanently And Legally - 2 Important Tips

One of the most important things that affects nearly every aspect of your life is your Credit Score or Credit Rating. This bit of personal information can play havoc with your life if you don't look after it... and if your credit rating is bad or adverse, then you need to start fixing it right now or it could potentially ruin your life.

You see, your credit score is used by many different organisations to determine whether or not you get offered a product or a service. Employers use this to see how reliable you are. Lenders and loan companies will refer to your credit score before they offer you a loan or mortgage. Phone companies, utility companies, landlords all will use a credit score to judge you first.

That's right... they will judge you first... before they offer you anything! It's so important to make sure you have a good credit rating.

Here Are Two More Tips To Legally Boost Your Credit Rating.

Tip 1: Don't Assume That Any One Thing Will Boost Your Credit Score A Specific Amount

Many people believe that paying off a credit card bill or closing an unused loan account will single-handedly result in a better credit score, but it's not really as clear cut as that. How much any one bit of action will affect your credit score is impossible to measure but it will depend on the agency calculating your score and on your current credit rating.

If you currently have a high credit rating then even small issues like a single missed payment can have an affect on your score. However, if you suffer with a low or poor credit score and want to repair it, don't equate any one specific action with a specific amount of increase in your credit score.

Take as many credit repair actions as you can to boost your credit score permanently. Any credit repair action is good, no matter how small, because you'll still have a better score than when you first started. Even with a small boost to your credit score, you can qualify for better interest rates, for example.

Tip 2: Don't Think That Having No Loans Or Debts Will Improve Your Credit Score.

Many people mistakenly believe that avoiding all credit and that by owing no money and having no credit cards or loans guarantees a perfect credit score. This is not true! Lenders actually want to see how you handle credit and the only way to prove your abilities is to have credit and show that you can deal with it in a responsible way.

It's much better to have a few credit accounts that are in good standing than to have no credit history at all. If you've got no credit accounts at all, think about opening a bank account at least and consider a low balance credit card to help boost your credit score.

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