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Credit score tips to make you more attractive to creditors

By Brian Anderson
Published: Tuesday, October 6th, 2009

When you opened a credit account, it’s always safe to look up on different credit score tips. As you might already found out, your credit score is one thing you should keep an eye once you already have credit. This number will be the primary influence of your creditor’s decision. It is based on many things but it reflects how well you can handle your credit responsibilities – how well you can pay on time, meet terms, etc. 

If you keep a clean credit report, your credit score should be high and this is most favored by the people you are doing business with. There are many ways to improve your credit score as there are also ways to repair a bad credit report. 

Here are some credit score tips you can use to help you raise your credit score. 

Increase your credit card limits

When you have already applied for a credit card, you can ask for your credit limit to be increased. This will look better on your credit report and will surely increase your credit score. This is because the lower your balances in relation to your credit limit, the better. One of the credit score tips you should remember is that when you experience having problems with regards to getting the balances paid down, or when you cant seem to increase your credit limit, you shouldn’t hesitate contacting your creditors. 

Pay off old accounts

The credit score is calculated not only based on your current balances but also on your past dues. If you have unpaid old accounts, this could be a problem because it can pull down your credit score. This implies that you should pay off old dues before you begin opening a new account; it is always better that way. If you have very bad old credit report, you can discuss judgments with your creditors. See if they are willing to remove the record of judgments on your report after you have already paid for the past dues. 

Don’t close old accounts

Another thing that contributes to your credit score is your credit history and how long you have used an account. The older your clean accounts are, the better for your credit score. So if you have old accounts, one of the credit score tips advised to take is to not close them. They can lift up your credit score and make your credit report more attractive. 

When you close accounts, your score can decrease as well. Your creditors could attribute many things to its closing. One of the things this actions show is that you are trying to escape your debts. This is not good news to your creditors because it tells them that you are having financial problems, hence you can be high risk.

Pay bills and pay them on time

If you want to lower your FICO score, the best thing to do is to stop paying your bills. Obviously, credit score tips to increase your credit score would advise you to be responsible in paying all your bills. Paying late has less damage to your credit score but that is still damage. You don’t want that, what you want is to increase and improve your credit score. So, start a good habit paying bills and paying them on time.

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