Financial Planning

You may think that the top credit repair secrets are just that, secret! However, consumers everywhere are finding out and using many of these best-kept “secrets” in a quest to build a stronger credit history. More and more people are asking the question “How can I increase my credit score?” Increasing your credit score can save you hundreds, even thousands of dollars over a year or longer simply by insuring lower interest rates on everything from home mortgages to TV sets. Virtually anything you buy on credit can be purchased cheaper if you have a strong positive credit history and a FICO score of higher than 680.

The credit score range may be as low as 450 or as high as 850 on opposite ends of the spectrum. Most people are somewhere in between with about 640-680 being the median for most of the population. Paying off balances each month, as well as keeping a low balance to limit ratio are important ways to increase your score and use credit responsibly. It is important to check your credit reports on all three major bureaus frequently to insure that you have not been a victim of identity theft or other consumer fraud. Do not keep too many open accounts or accounts with high limits as credit grantors frown on this. They like to see a few, well kept accounts that are paid on time or in full each month and appear to be well within the scope of your income.

Be sure the information contained in your reports is accurate and up to date by disputing any inaccuracies immediately and directly with the bureau. Remember, as the consumer, you have certain rights. Learn them and act upon them to keep your credit score high and your headaches low. You have a right to dispute anything on your report that is incorrect. You may also put an explanation of anything with which you disagree right on your credit report so your side of the dispute is represented.

Remember, the top credit repair “secrets” are only secrets if you do not take the time to read and know what steps to take to protect your credit and raise your score!