“How can I improve my credit score?” this is the question often heard from people in debt whose financial aspect of their lives have been affected by the economic crisis.Perhaps, you may like to read more blogs on credit repair.


 The question is, “How can I improve my credit score with my existing credit record?” Having credit accounts would automatically mean that the bureaus will have your credit file. Below are the essential tips to help you answer your question, “how can I improve my credit score?” 


 • Be smart in acquiring and using credit. Think twice before you purchase something and make sure that you pay your monthly balance on time. A $0 balance is good to avoid interest charges but, interestingly enough, not to build your credit score. The credit agencies report to the bureaus regularly and the bureau wouldn’t like to see a $0 balance on the report because this would mean that you are inactively using your credit which results to a lower score. To improve your credit score, pay off all but $5-$10 of your balance. This remaining balance will not hurt your score in fact it will raise it into several notches. Maxing out your card is a big NO-NO. Keep your balance below 30% of the available limit. Can it really improve my credit score? It would also be better if you will keep it down to 10%. You have to be very alert on this matter since the percentage of available limit you are using affects 1/3 of your score.


 • Disperse your credit. In the credit business, it is always better to have balances on a number of cards than a huge balance on a single card. Your revolving debt’s balance and limit must also have a wide gap for it to be more effective. You might be thinking, "Doesn’t paying down any of my debt improve my credit score?" Paying revolving debt is better since it could improve credit score compared to an installment debt. This is one of the most effective ways to improve your credit score.


 • Keep accounts open and active. If you want to improve your credit score then keep your accounts active. You might be wondering how this step will improve your score. 35% of your credit score is taken from your credit history. An account being closed because of inactivity reduces your credit score to several notches. 


 • A healthy mix of credit is a must-have step. Go ahead; ask me, "How does this improve my credit score?" Well, here’s the logic to this. What’s healthy enough is having an installment account and two revolving accounts. Remember too many credit will scare away potential creditors. You’ll also get dinged with inquiries; every point counts when you are applying for a major loan. 


 • Keep track of your credit by checking your credit report. This is a very important step when improving one’s credit score. It is your right to ask for your report from the main bureaus. You have to understand that there might be inaccurate information noted on your report. Informed the bureaus for any erroneous data listed on your report so that they could do the necessary changes. If you are going to be judged so strictly by what’s on your credit report, then it should be accurate. 





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