10 ways to raise your credit score fast
News from MSN Money:
This post comes from Marilyn Lewis at partner site Money Talks News.
When I was in my early 20s, I was not what you’d call an informed consumer. Not by a long shot. I remember thinking, when I felt far too busy to worry about paying a bill on time, “It won’t matter. It’s not like they’re not going to get their money.”
What I didn’t understand is that payment history, including late or skipped payments, makes up 35 percent of your FICO credit scores.
Why is this important? Your score determines the interest rates you pay on loans. A low score could easily cost you an extra $ 50,000 in mortgage payments. Credit scores also affect insurance premiums. Landlords look at them when deciding whether to rent you an apartment. Employers may check your FICO score when you apply for a job.
I’ve wised up since then to what a powerful role credit scores play as a gatekeepe…………… continues on MSN Money
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What Helps Credit Score More: Pay Debt All at Once? Or in Bits?
News from Fox Business:
Dear Let’s Talk Credit,
If I have enough money to pay off a credit card with a $ 5,000 balance, is it still better to pay it off over time, say with large payments, than it is to just pay it down all at once? I would not be closing it, just paying it off. I have made all the payments on time.
If you are concerned about maintaining a strong credit score, in most cases, paying the entire balance off at once would likely help to improve your score. The reason is because your credit available to credit used ratio is a factor in your score. Paying off the balance would leave you with a 0-percent ratio on that one card. Your goal for the best credit score is to have ratios below 30 percent.
In addition to lowering your credit availability ratio, you also want to show that you can make on time credit payments. (That’s because payment history is 35 percent of your FICO credit score.) If you decide to pay off your credit card account, and you do not have very many accounts on your credit report and/or you don’t have any insta…………… continues on Fox Business
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How To Repair & Improve Your Credit Score In A Few Simple Steps Without Credit Repair Companies
Do you want to know how to establish credit, maintain, manage, and fix it when it’s broken? May be what you want is a better living that is free of harassing phone calls from creditors. Or do you want to know how to get out of bad credit debt, avoid overspending, clean up your credit report and establish good credit? If your answer is yes – then this will be the best message you ever read this year.If you are in need of rebuilding your credit history and equity, believe a creditor has wronged y
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