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Improving credit scores? It is never that easy.

By Ruth Racey
Published: Wednesday, October 21st, 2009

Making your credit scores better is not like a walk in the park. It usually takes a long time to demonstrate that you are responsible enough in managing your finances. These eight tips would surely help you. 

  1. Always pay your bills promptly.
    This is the easiest way to get noticed. Creditors would see your efforts of paying on time and they might consider improving your scores. Even if you had bad records before, paying on time consistently would make up for those mistakes.
  2. Maintain a low credit card balance.
    Whenever you have high balances your score goes down automatically. Never put your credit cards to their limits or afford balances that are more than half of the total available credits.
  3. Keep an update of your credit reports for accuracy.
    Sometimes there may be incorrect information found on your credit report. Usually these can be cleared up easily by contacting credit reporting agencies to speed up the correction process.
  4. Just pay your debt. You do not need to consolidate credit balances.
    Combining your credit card debt into one card or spreading it to multiple cards does not guarantee you of a score improvement, especially in the long run. The easiest way of getting rid of your debts is simply to pay them.
  5.  Prevent closing credit card accounts.
    Although you may not use a credit card for a long time, closing the account is not a good idea. Unused credit cards demonstrate stability and someone having no credit cards is likely to obtain a lower score than someone who has some, and has managed them responsibly.
  6. If it is your first time to have a credit account, do not open too many accounts immediately.
    Having too many accounts in a short time frame would look dangerous to creditors because of the possibility that you are going to face large sums of debt. You should try securing just a single account until you have established a credit history for yourself.
  7. Apply for an identity theft protection.
    If you lack time in monitoring your credit constantly, you may want to hire some watch dogs to look after them. You can choose from several services to protect your account.
  8.  Spend wisely.
    This is one of the most obvious ways of having high scores. You should know where to use your credits and learn to prioritize things you need to pay to minimize possible debts.

 Having a good credit score takes a lot of work, so if you follow these simple steps you are guaranteed to have a better score in no time.

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