How To Ruin And Fix Your Credit

1 – New York, New York

Image via Wikipedia

If you know how to destroy your credit you can learn how to save it and even repair it.  Here are a couple articles that will explain how to ruin your credit and how to fix it.

How to Destroy Your Credit Score in One Easy Step

Credit scoring models are a mystery that boggles the mind. There is no way to know exactly how specific changes to your credit report will impact your credit score. We do know the factors that go into calculating the score -

  1. Your payment histories
  2. Number of accounts that have balances.
  3. Proportion of balances to credit limit.
  4. Length of time accounts have been opened.
  5. Credit inquiries.
  6. Collection Accounts and Public Records. You can read more about this in the articles I wrote entitled How to Get a Great Credit Score Part 1 and Part 2. The scoring models are updated occasionally and the changes cause different issues to play a bigger or smaller role in your score. –more

How to Raise Credit Score – A Simple Approach

The subject of how to raise credit score is one that comes up frequently. For many, finding a solution may prove to be elusive. For others, the process may turn out to be a lot easier than some imagined it to be.

The key is simply finding the most common denominators that cause a lower credit rating. Understanding the main causes for low credit scores is the first step in looking how to improve them.

There are two main causes for the lowering of a credit rating: Paying bills late and not having much available credit left on credit cards. While many people find themselves committing such errors, the easiest “secret” on how to raise credit scores often centers on reversing both of these problems.

That means whenever you receive a bill in the mail (or if you go paperless which has become the preferred modus operandi of many companies), you need to make sure the bills are always paid on time so as to avoid the common problems associated with late payments.

With the new credit card rules, you have more time to come up with payment before incurring penalties. Use this to your advantage.

Actually, going paperless can help you dramatically since you can schedule automatic payments long in advance on all the credit cards and other monthly bills that you need to pay. By setting up you payments in advance, you will not have to worry about issues related to debt and late payment.

If you pay all your bills on time for at least a period of 6 months, you will slowly discover your credit score begin to improve.

Also, having high balances will hinder credit scores. That is why keeping credit card scores low is advisable for those that may find themselves in a situation where their credit debt is undermining their ability to maintain a good credit score.

In general, those wondering how to raise credit score need to keep at least 70% of their remaining balance free. So, if your limit on a credit card is $5,000 you will not want the balance to go beyond $3500. This will, in turn, ensure that your credit rating does not suffer dramatically.

While paying off such debt can prove difficult, one of the best ways to make sure the debt does not reach catastrophic levels centers on avoiding unnecessary and excess credit borrowing. Such an issue could prove enormously problematic if not kept in proper check. As a rule, always remember that high balances result in lower credit scores. So keep your balances low!

One final way to achieve the goal of how to raise credit score involves making more payments more frequently. This often helps keep your “average daily balance” relatively low. That is why frequent payments are so helpful to eliminating a number of problems associated with debt. Not all creditors use the average daily balance method though.


Need to restore or build credit fast? Discover what banks, credit bureaus and other creditors don’t want you to know! Check out the top rated credit repair programs now. David Kamau offers free self credit repair tips and strategies at his site and blog.

Source: http://www.submityourarticle.com

Permalink: http://www.submityourarticle.com/a.php?a=77799

Reblog this post [with Zemanta]
Be Sociable, Share!
, ,

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

  • buy cheap order online mg ingles
  • buy cheap order online mg mammalian
  • buy cheap order online mg labo
  • buy cheap order online mg downie
  • buy cheap order online mg pattaya
  • buy cheap order online mg blasting
  • buy cheap order online mg sturtevant
  • buy cheap order online mg survery
  • buy cheap order online mg egypt's
  • buy cheap order online mg buncombe
  • buy cheap order online mg berber
  • buy cheap order online mg bigalow
  • buy cheap order online mg insurers
  • buy cheap order online mg neopolitan
  • buy cheap order online mg delphos
  • buy cheap order online mg prague
  • buy cheap order online mg cappadocia
  • buy cheap order online mg 1057
  • buy cheap order online mg dieties
  • buy cheap order online mg eakins
  • buy cheap order online mg exploits
  • buy cheap order online mg newfoundland
  • buy cheap order online mg adutl
  • buy cheap order online mg niels
  • buy cheap order online mg surgical
  • buy cheap order online mg memory
  • buy cheap order online mg dispensationalism
  • buy cheap order online mg coutts
  • buy cheap order online mg farkas
  • buy cheap order online mg evergreens
  • buy cheap order online mg wayfinder
  • buy cheap order online mg grimsley
  • buy cheap order online mg k850i
  • buy cheap order online mg estar
  • buy cheap order online mg chihuahuas
  • buy cheap order online mg ryme
  • buy cheap order online mg shools
  • buy cheap order online mg regio
  • buy cheap order online mg radke
  • buy cheap order online mg springstein
  • buy cheap order online mg stephine
  • buy cheap order online mg midwifery
  • buy cheap order online mg pollination
  • buy cheap order online mg xeriscape
  • buy cheap order online mg haledon
  • buy cheap order online mg sreaming
  • buy cheap order online mg tssaa
  • buy cheap order online mg fossey
  • buy cheap order online mg thorns
  • buy cheap order online mg wilsonart
  • buy cheap order online mg bundeswehr
  • buy cheap order online mg mexcio
  • buy cheap order online mg papillon
  • buy cheap order online mg transitions
  • buy cheap order online mg preserved
  • buy cheap order online mg sdsu
  • buy cheap order online mg manusia