5 Ways to Boost Your Credit Score

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Credit Scores range from 300 to 850.  A credit score of 760 or more is considered an excellent credit score.

Although you may be able to get a home loan with a credit score of less that 760, to get the best interest rate on your loan, you will need a credit score of 760 or more.

Here are 5 Quick Ways to Boost Your Credit Score

1.  Get a copy of your credit report and dispute any errors you find.

2.  Negotiate with a creditor that is reporting negative information about you.  Write a letter and find out what you can do to erase that negative information.

3.  Don’t  max out your credit cards.  If you have, start paying those balances down.  You should not have used more than 30% of your available credit at anytime and using only 10% is best.  This applies even if you are paying the balance of monthly.  30% of your credit score rating is based on debt owed.  

4.  Don’t close any credit cards.  This may seem contrary to increasing your credit score but any loss of available credit will cause your score to drop.

5.  Pay your bills on time!  35% of your credit score is based on timely payment of your debt.

So, get a copy of your credit from AnnualCreditReport.com, and get to work on  improving your score!

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