5 Tips to keep your credit report in good standing
Good credit has never been more important than it is today. Not only lenders use it, but also employers and insurance companies take a peek to see if you will be a good employee or risk. So, here are some tips to help keep your credit report looking good.
Tip #1: Pay your bills on time. You are probably thinking, “Well, DUH!”. But, seriously, this is a big part of your credit score and the one most often overlooked, or at least fudged a little bit. Generally, you have to be 30 days past due for it to show on your credit report, but companies keep their own records as well.
Tip #2: Keep your credit card balances below 50% of your credit limit. If you are in the upper half of your credit limit, pay extra to get the balances down. Pay the highest interest cards the most, then move to the lower interest cards.
Tip #3: Refrain from applying for new credit unless absolutely necessary. This will usually reflect negatively on your credit score. However, inquiries from credit companies monitoring your credit and pre-screened offers don’t count against you.
Tip #4: Monitor your own credit report. You are entitled by law to free credit reports from each of the three agencies once per year. You are also entitled to your credit report when you are denied credit, insurance or employment because of your credit report. Go to www.annualcreditreport.com to pull these reports. This is the site the Federal Reserve Board suggests.
Tip #5: Dispute incorrect information in your credit report or explain information that is correct, but you believe you have more information to add. You can usually do this online. The companies will investigate and usually have an answer for you within 30 days.
Your credit score is almost as important as the air you breathe. It is important for you to take care of it. It is the key to homes, cars, insurance, employment and much more.
More information you may find helpful:
- Credit Repair Secrets Bible
- The Attorneys Guide to Credit Repair
- Credit Card Debt Settlement Do It Yourself
- 30 Days to a Better Credit Report
[...] article by Chris Corrigan, 5 tips to keep your credit report in good standing, gives some great advice on getting your credit report looking good and keeping it [...]