IMPORTANT: There is one credit repair company that is above all others and highly recommended. Lexington Law is reliable and costs much LESS than you think. They provide top notch service with excellent results. It is highly recommended that you watch the video at the bottom of this article andcheck Lexington Law (1-800-293-3672) to repair your credit before any other alternative.
If you are like most people in today's tight financial world you would like nothing more then to get a better credit score. The opportunities that a better credit score can offer are many, you can refinance for a better rate or get financing for most purchases you make. The problem for many of us is that we just do not know how to get a better credit score!
By far one of the best ways to make your credit score better is by paying down your consumer debt. Considering the average American has $10,000 in debt, this may not be an easy feat, but you can do it if you use some proven tactics!
Snowball Your Debt Payments!
This is an old tactic where you take your accounts with the smallest balances or lowest interest rates and make an effort to pay them down as quick as possible! Once you pay that account down you apply the money you used to pay towards it to another account. Keep repeating this process month after month and your debts will start to shrink quickly!
Do Not Apply For New Credit Accounts
While you are trying to pay your debts down and increase your credit score the last thing you will want to do is try and secure new credit card accounts. While it will be tempting to transfer to a card with a lower rate you are better off paying down your existing accounts. Trust me when I say that older seasoned accounts will help your credit score a lot more then a new card with a lower rate!
Why Older Accounts Are Better For Your Credit Scores
The reason for this is because the credit bureaus look at how long you have had accounts and how frequently you open new ones. So if you have a Visa card that you have had for years it is doing more good for your credit score then most people realize.
Then when you pay that cards balance to under 50% of the cards limit, your scores will really jump as you look more responsible to the eyes of the credit rating companies.
On the other hand if you keep opening new cards you will appear very risky to the credit rating agencies. Think about it, what other reason would you have to keep shuffling your debt around other then you cannot pay your bills or you are looking to max out a lot of credit cards! Even if this is not the case it will be assumed and your scores will drop as your risk factor raises!
What Else Can You Do To Increase Your Credit
Along with working to pay down your debts you should also work on cleaning up errors and negative information on your credit report. You would be shocked if you knew how many people have mistakes on there credit report, and these mistakes are costing them a higher score.
How Do I Address Errors and Negative Information?
Addressing these items is as easy as writing a credit dispute letter to the credit agencies, under law they have to check into your dispute and if it cannot be verified it must be removed. This also works with negative information as well!
What Is The Best Way Dispute Errors?
If you are unsure on how to go about doing Self Credit Repair then pick up a good book or guide on the subject. Many are available online for a small fee and will help you get yourself squared away much faster. The Credit Repair Guides I Recommend can be viewed at www.creditfix123.info
...Don't Want To Do It Yourself? FREE Credit Repair Consultation From Lexington Law, The Leader in Credit Repair Call Now 1-800-293-3672 or CLICK HERE to Learn More
Visit LEXINGTON LAW or Call 1-800-293-3672 for FREE Credit Repair Consultation Now!
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