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Credit Report Tips to Boost Your Credit Score

By Karen Anderson
Published: Monday, December 7th, 2009

Have you recently or currently been applying for a new credit card, or for a loan to buy a car or a house, or for a line of credit that you will use for a large purchase? And was your request not granted or if granted you are made to pay with a higher interest? Either way, it may be because credit companies classified you as a high risk case due to your low credit scores.

This maybe because of the information or data found in your credit report are erroneous. When this is the situation you definitely need to have credit report tips to fix your credit report and also to boost your credit score. Credit scores are the main lifeblood of anyone’s financial transactions. It can ruin your life or it can make the best out of your life.

What are credit scores, a credit reports, and credit report tips?

A credit score is a three digit number that help lenders determine whether you can be granted new credit cards or loans and how much.

A credit report is the summary of information about how you pay bills and repay loans, how much is available in your credit, what your monthly debts are, and other types of information that help lenders assess whether they would grant you a loan or not.

Credit report tips are suggestions designed to help you boost your credit score, by means of repairing information found in your credit report, and the like.

And to help you attain a low risk status if you are formerly classified as high risk, here are some credit report tips to boost your credit score:

First tip is to have a copy of your credit report. Having a copy alone will not help in boosting your credit score, you have to meticulously check what sorts of information are found in that copy of credit report. Making sure that all those information are correct and repairing wrong information will help in boosting your credit report. There are online sources that you could obtain such copies, and under the federal law you can get a free report from each of the three national credit reporting companies every 12 months.

Next credit report tip is to pay bills on time. It may not look like it but bills that are not paid on time or are paid late gives a bad figure on your credit score and also gives bad impression to potential lenders. So start paying bills promptly, you can have an automatic payment from your bank account to help you pay on time, but be sure you have enough money in your account to avoid overdraft fees.

The third tip is to maintain a clean set of information written in your credit report. Information about your tax payments, bankruptcies and court judgment can reveal how good you are in paying your taxes or handling business. 

These credit report tips can help you to get your application for credit and loans successfully.

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