Better credit – Want to save $ 105 easy this year? If you are a consumer, which is the amount that could reduce annual finance charges, if it improves your better credit score just 30 points, according to a new study released by the Consumer Federation of America (CFA) and Washington Mutual Bank.
Boosting your better credit score by only 30 of the hundreds of points can be much easier than it seems it would be. According to the survey, these five strategies may be easier with opportunities for improvement:
● Pay all your bills on time and in full each month.
● Do not max out, or be close to maxing out the limits of their better credit cards or revolving credit accounts.
● pay their debts, instead of transferring balances from one account to another.
● Do not open multiple credit accounts at once or in quick succession.
● Check your better credit report annually and take action to correct any errors that may have been made.
The survey also found that in some respects have become informed consumers on credit ratings in recent years. But in other respects, consumers still harbor misconceptions and misunderstandings.
With this in mind, here are some important points to remember:
● Your better credit score is based on the history of credit use and payment of their debts. His personal characteristics such as income, age, marital status, state of origin, education and ethnicity have no effect on your credit history or credit score.
● You can improve your better credit score by using credit responsibly. For example, your credit score can increase if you pay a credit card balance, but decreases if it is a late payment on a credit card or max out your limit on a credit card.
● You are legally entitled to a free look at your better credit report (but not your credit score) once a year. If you also want to know your score, you’ll pay a small fee. An exception occurs if you have been rejected by a mortgage or credit card. In this case, you are entitled to one free credit score too.
The conclusion is that the more you know about better credit, the better prepared you are to use credit wisely – and that may be easier on your wallet.