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How to improve credit score?

By Derek Brown
Published: Monday, October 19th, 2009

The very first thing that a consumer needs to perform to improve the credit score is to search for the information that the credit bureaus have in a consumer’s account. Once the consumer has all details, one can make a program on the ways to raise the score. One of the primary things to raise the score is to pay the bills on due time. Remember that there are some companies which offer a grace period but this period can range and may report late payment even if it was just a single day late. It is therefore important to get the payments on right time.

Fix errors that you must have found in the credit report. Look for the accounts that do not belong to you, the late payments and the debts which you have already paid off. Some companies are fast to report such deficiencies to credit companies but they take time to remove those bad marks from the credit record. It is thus up to the consumer to watch such errors and ensure that the information is all kept clean and updated.

Also, try to keep the credit card balances on a low because the huge balances can have negative impact on the credit score. It is advisable to keep the balances below the mark of 30 percent of the credit limit. It is even fine to check the credit regularly and frequently and to be all prepared to dispute the derogatory details on the credit report. Last but not least, try not to open a large number of accounts in quick span and that too when you are new to the credit. This can make a huge amount of inquiries by the financial lenders and may further hurt your credit score.

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