Today much of your credibility is based upon the almighty credit report. Many large items you choose to purchase will require a quick look at this score. Each place of business will have guidelines to what they consider a good score. If your score does not meet what they consider to be good then they will not give you the loan to get what ever item you are wanting. Generally a person wants a score of around at least 500. The higher the better! 500 is a medium ground of not bad but not the best either. How can you improve your credit report? Much the same way you improve credit.
* Pay bills on time: Always make sure that any bills you have are paid on time. Pay them early if possible. This is a very important factor that is used to determine your credit report.
* Pay more than the minimum: Paying more than the minimum if only a few dollars can help improve your credit score. It is not a required item to pay more than the minimum and you may not always be able to but do it as often as you can. This is not a major factor when determining your score but it sure does help it rise if you do it for a few months in a row.
* Close out accounts: The amount of accounts you have open reflects on your credit report. If you can pay off debt and close accounts you can raise your credit score. This is especially true if you have a lot of revolving debt in many accounts. This is again a very important factor that reflects in your credit report.
* Keep inquires low: If you apply for a lot of credit this can affect your credit report even if you do not receive the credit. The amount of inquires that is made about your credit report is shown on your credit report. The more inquires you have the less positive your report will look.
If you follow these few items you will over a few months begin to see an improvement in your credit report. The longer you do these things the more improvement you will see. It is also very important to check this report every year to make sure that all information on it is correct. What should you look for when checking your credit report?
*Make sure that all accounts you paid off are closed.
*Make sure that everything on the account belongs to you.
*Make sure that all the accounts are correct.
*Make sure that any amount of revolving debts are correct.
If you find incorrect information on your credit report do not hesitate to dispute it. Whether it is an account you have closed that does not show paid in full or a debt that does not belong to you. Let the company know so they can get your report updated so that your credit is not being affected.
Your credit report is very important as you can see. Always make sure that yours is correct. Do anything that you can to make sure your credit score is in at least the medium range because if you fall to the low range you may not be able to get the credit you need to make large purchases. Your credit report lets you as well as inquiring businesses know how credit worthy you are as well as how responsible you are with the debt you already have. Take care to make sure you keep your score in the acceptable range. If you can do this you should have no problem getting the credit you need.