Five Tips to increase your Credit Score

Five Tips to increase your Credit Score
Armstrong Williams
September 9, 2005

1. Pay bills several days before due date. Late Payments are reported to the credit bureaus and will negatively impact your score.

2. Make Sure your credit to debt ratio is low. Pay down your debt to below a 20% debt ratio.

3. Limit the number of inquiries on your report. Whenever you apply for any type of loan, the creditor will pull your file which places an inquiry on your report. Too many of these inquires will negatively impact your score. To avoid having these blemishes on your report, know your scores beforehand and ask the creditor what you qualify for.

4. Before you marry have a complete understanding of your future spouse’s credit score and financial stability, when you marry and are united in holy matrimony as one, you literally take on each others debt and assets.

5. Protect yourself from identity theft. Check your report once a year to make sure there is no fraudulent activity. Shred old receipts or any other documents that contain personal information. Be aggressive in getting any fraudulent accounts off your report.