See Your Credit Score Online Free
You really don’t know exactly what you need to do to rebuild your credit if you don’t know what’s on your credit report. You may be surprised to find that nearly every credit report has errors that can be corrected simply by disputing the information. This service to the left, provides not only your report and score, but also provides a monitoring service so that as your score improves, you’ll be able to see it in real time. This gives you an obvious advantage and also allows you to know if anything incorrect is being reported that you need to dispute.
Get Your Free Credit Score and test drive the monitoring service free.
Many people are under the impression that if they can just get their credit score improved, that they’ll be able to immediately get credit, such as a car loan. While it is very important that you raise your credit score to be able to qualify for the best interest rates available, auto financing is still available for people that have bad credit.
Also, your debt to income ratio can play a vital role as well, when pursuing credit…
You may have a beacon score of 720, but if you have just as much money going out each month for bills as you have income, you’re not in a good position to obtain credit. Having a reasonable debt to income ratio (the amount you owe each month vs how much income you have) can be very beneficial when pursuing credit, such as an auto loan.
Here are 7 tips for improving your credit score…
1) Pay your bills on time. As simple as it sounds, it’s the number one factor in calculating your score.
2) If you have missed payments in the past, bring those accounts current or work with a credit counseling agency that can bring your accounts current for you, so you don’t have to pay late fees and can start fresh.
3) Pay off your collection accounts and try to settle on the amount that you have to pay for the account to show a zero balance. While collection accounts will remain on your credit report for at least seven years, having a zero balance will help to raise your score.
4) Pay off your credit cards monthly. Having an available credit showing a zero balance can work wonders.
5) Don’t move credit card balances from one account to another. While you can save money by transferring your balance to a lower interest rate credit card, it’s better to have that longer term account open and showing as being in good standing.
6) If obtaining an auto loan with bad credit, make sure that the company that will be funding your loan reports to the major credit bureaus. Buy here pay here car lots do not help to improve your credit score.
7) Dispute errors or old accounts that are lingering on your report. You may be surprised at how easy it is to do online and how quickly some of those bad accounts can be removed just by asking.