subject: How Credit Scores Work [print this page] Getting a credit score that is high will only help you in the long run. Your credit score is a formula of your financial past and is developed by FICO who determines your score. If you want a score in the 700s, that means you have to be good at always paying your bills on time. Another thing you can do is remove negatives from your credit report.
Click here to learn about how to get thehighest credit scores. Your debt plays a big role in being able to get a high credit score so paying that off on time will help.
Negative things on your account are like delinquencies, late payments, or bills that have went into collections. First and foremost, you must avoid getting negatives in the first place so that you don't drop your credit score. One step you can take to conquer this is to pay your bills each and every month on time. If you don't max out your card and pay off your credit card statements in full each and every month, then that means you are in better shape than a lot of people.
If the negatives are not your fault or you don't recognize them then you have a problem that needs to be removed. The next best step if the negative isn't yours is to dispute it and write it in a letter to send it. The letter needs to be send via snail mail and it also has to be sent to the account in question. In about a month you should hear back also in writing about what happened with the dispute.
The negative on your account is yours and you have no doubt about it then there is no way you can dispute it. You only have one option if the negative was indeed your fault, and that is to wait it out until it clears. After seven years then will it completely be taken off your credit report. With a bankruptcy, it will stay on your credit report for longer at ten years.
If you plan on buying a home then you will need a home loan. With your mortgage, you will need ahome loan with credit score.
Keeping your credit utilization ratio low will help you get a better credit score. It's a good idea to get yourfree credit score check. Rest assured that your credit report is error-free if you check it on a regular basis.
