subject: Credit Score How To Improve It [print this page] Here at CreditNowUSA, we want to help you get credit when you need it. Although even borrowers with low credit scores can usually get credit in at least some form, youll get the lowest interest rates and best terms on your loans when you have a high credit score. There are many strategies you can use to improve your credit score, and while youll see an impact right away with some, others will have a slow effect over years.
Pay Bills On Time: The single factor that has the most impact on your credit score is whether or not you pay your bills on time. If you consistently pay on time, youll have a much better score than if your credit report is full of late payments. If you have paid late in the past or are currently late on a payment, catch up and make an effort to pay on time in the future.
Have Low Balances: The balances on your credit cards affect your score, and if youre close to your limit, youll be penalized. Improve your credit score by paying down what you owe on credit cards, ideally to where your balance is less than 10% of your credit limit.
Apply for Credit Sparingly: Every time you apply for a loan or credit card, your credit score goes down slightly. If youre applying for credit too frequently, your score could suffer. Instead, wait to apply for credit until you are sure you need it, and then use our tools here at CreditNowUSA to apply with lenders who are likely to approve you.
Check Your Credit Report: Your credit score is based on data found on your credit report. If your report contains errors, this can make your credit score lower than it should be. We recommend checking your credit report annually, and again right before applying for a major loan or line of credit, to make sure everything on it is correct. If you find errors, dispute them so the credit bureaus know to remove them from your report.
For more information, go to Credit Score at http://www.creditnowusa.com/Credit-Score
