subject: Credit Score How To Improve Your Credit Score [print this page] Your credit score is the most important three-digit number lenders look at when evaluating your applications for loans and credit cards. Having a good credit score can help you get a great loan with a low interest rate from your first choice lender, whereas a bad credit score will leave you having less selection with lenders and needing to pay higher interest rates or fees to borrow. Because your credit score is so important, here at CreditNowUSA we want to educate you about some of the most important things you can do to improve your credit score.
1. Make all of your debt payments on time. Each time you make a late payment, thats another negative event on your credit report that causes your credit score to drop. On the other hand, each time you make a payment on time, it improves your credit score a little bit, especially if youve had a spotty payment history in the past.
2. Pay down the balances on your credit cards. If the balance you owe on a card is at or near your credit limit, youre being penalized on your credit score. On the other hand, if you bring your balance down to less than 30% of your credit limit youll be in good shape, and getting it below 10% of your credit limit will make your credit score even higher.
3. Dont apply for lots of new credit cards or loans all at once. Here at CreditNowUSA, we have one simple screening application that will connect you with a lender who will approve your application. This ensures that you dont get penalized on your credit score for having too many credit inquiries all at the same time.
4. Check the accuracy of your credit report. If it has errors, they could be dragging down your score. Disputing the errors to have them removed from your credit report will help your score bounce back up to where it should be. There are instructions for filing a dispute on each credit report you receive.
For more information, go to Credit Score at http://www.creditnowusa.com/Credit-Score
