How to Boost Your Credit Scores

Credit By: My Financial Resources Center L.L.C.

First thing is first, you will need to retrieve your credit reports and credit scores from all the three major reporting agencies: Equifax, Experian, & TransUnion. You may do this by visiting either or all websites including annualcreditreport.com, creditkarma.com, experian.com, or you can sign up for a credit monitoring called Identity IQ. A credit monitoring such as this one is way better to monitor your credit and ensure it remains healthy month by month. It provides all reports and scores for $1 and then pay $19.99 a month. Monitoring your credit is an essential part in seeing where you may need to improve.

Paying your bills

A good reason why to review your credit report is because it provides all of your accounts from the past and current accounts. You may see which accounts have gone into collection, any remaining balances from lenders, and see if there are any past dues. Attending these matters and paying off any debt can help boost your credit scores dramatically. Ensure you are paying on time for your open accounts as well to avoid any new late payments being shown on your credit reports. Credit overall may be complicated but by covering your expenses it becomes a key element in having good scores.

Accuracy

Another reason to retrieve your credit reports and scores is to verify for accuracy. Sometimes there are errors on credit reports that affects the individual. Some errors may include accounts that do not belong to you, wrong payment dates, payment status or condition such as (charge offs), and of course any comments. When information like this appears on your credit reports you should attend them right away. One way to resolve issues like these is by disputing directly to the credit bureaus.

Eliminate High Credit

There is a such thing as having your credit utilization too high. Example, you had been approved for a credit card limit of $500, this means you shall not pass the amount of $150. Exceeding the limit will show lenders high risks and that you might not be able to pay them back. It is best to only use 30% to 35% of your approved credit limit. To identify which accounts has gone over the amount you may see the details shown on your credit report described  as "high balance."

Once you get these basics down be sure to keep reviewing your credit scores and see how they will increase over time with the applied changes. For more tips, information, or help contact My Financial Resources Center L.L.C. We are here to guide you and ensure you have all the financial resources available to you.