Tips to Improve Your Credit Score

Nowadays having a good score effects more than just loan approval.

When you go to rent an apartment your landlord will obtain a credit report on you and if you have a low credit score he will charge you more per month.

A future employer will also review your credit report. This may be a deciding factor if your hired because you could be competing against someone with the same qualifications with the only difference is your low credit score.

Let's take a look at how to improve your credit score.

First you have to know what your credit score is which can be obtained from any of the credit bureaus.

Second obtain your credit report and look for errors.

Third if you have been behind on bills make plans to get current. Contact your lender to see if they have any plans which will help you get current.

Fourth don't apply for any new credit cards if not needed. Remember inquiries can lower your credit score. Note: You can review your own credit report without any penalty

Fifth thing do is pay down your credit cards since higher balances can hurt your credit score

Sixth thing to do is look to consolidate all your credit card debt into an installment loan. Rate may be higher than some credit cards. Why should you do this? Well, credit card debt is viewed more negatively than the exact same balance with an installment loans.

I will go in more detail in my upcoming book on improving your credit score.

Hope this helps people out there.

Teddy Danfield