9th Dec 2009 by Gary
To understand how to improve your credit score, you need to understand how it is determined in the first place. A credit score is determined by five basic categories. They are: Your payment history, how much you owe, how long you've been using credit, new credit, and what type of credit you're using. All of these are used when figuring what your score is. So to improve your credit score, you must look at each of these categories and figure out how to make them better performers when they're checked out. Payment history is self-explanatory. If you want a good credit score, you better pay on time. That's all there is to it. Probably the best way to improve credit is in lowering how much you owe versus how much money you make. That's a big one for credit companies, and is about as strongly weighted as any other factor. Paying down what you owe is one of the better ways to improve your credit score. Also go over your credit report to be sure all things on it are accurate. Sometimes a company can lag in reporting your activity, or something was entered wrongly.
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