Having a good credit score helps you get your loan applications approved quickly
. Not only that, but you get the added bonus of paying the lower scale of interest rates on those loans. In order to improve your score, follow the three useful tips discussed in this article.
Pay your bills promptly.
One of the best ways to improve your credit score is to pay your bills on time. In fact your payment history accounts for 35% of your FICO score so this is an area. Any late payments increase your score, so make it a priority to pay those bills on time. Some things to help you in this regard are to put money away each week toward those bills. If you find that too difficult then organise with your bank to get a regular amount put into a special account for your bills. Also mark on your calendar when they are due. It would be a shame to get a decreased score simply because you made a late payment due to forgetting the date it was due.
Check your credit report on a yearly basis.
Some people aren't aware that they can get a free copy of their credit report every year. So make the most of this service and get your free copy every year and check that all the items listed on the report are correct. Mistakes can be made by data entry personnel and identity theft unfortunately occurs, so it's a good way to make sure your credit score isn't any lower than it should be by making sure no discrepancies are on your report.
Dispute any errors.
If you do happen to find any discrepancies on your report then you need to let the credit bureaus know. Photocopy your report and mark any of the discrepancies and forward your report along with a cover letter explaining what the errors are. Include copies of any receipts that may help verify your dispute. It is worth this yearly check of your report because getting discrepancies removed will result in a higher score for you.