Okay, so we’re now in 2014 and all the New Year’s Resolutions are starting again. I can’t think of a better resolution than a higher credit score. Low credit scores costs consumers so much money. These extra costs can include higher credit costs (interest rates) and even higher insurance rates. Many consumers can even lose employment opportunities based on information reported on their credit report.
The most important part of obtaining a New Year’s Resolution is to have a full proof plan. A big resolution I hear every year is people wanting to get in shape and lose a few extra pounds. You won’t be able to watch any television program in next few weeks without seeing commercial after commercial about losing weight. You can drive by any gym and see parking lots that were mostly vacant a few weeks ago now at full capacity. These folks all have great starts for their better health resolutions but year after year many fail. I can’t help you on this resolution but I can certainly help anyone maintain a higher credit score.
There is nothing random about credit scoring. Credit scores are designed to determine future risk. Banks deny credit and / or charge higher interest rates to compensate for additional risk. If you have a subpar credit score, your credit report includes subpar characteristics.
So how can you obtain a higher credit score? I must say, I’m asked this very question daily. Each and every client of CureMyScore.com gets a custom Game Plan to answer this very question. A solid full proof Game Plan will lead to better credit scores for life. Credit reports are very unique so it’s impossible to give one blanket answer on how to get a higher credit score.
Here are a few general tips to help improve your credit score:
1. If you’re past due on any current bills, get current right away. Past due accounts are big indicators of future risk.
2. Regardless of any past payment problems you may have encountered, make sure they‘re a thing of the past and make sure you have no more late payments or collections.
3. Be responsible with your credit. Try to charge only what you can afford to pay off each month.
Just following these few tips will help you get a jump start on meeting your 2014 higher credit score resolution.
Credit Reporting / Scoring Expert, Chris McConville is the President of Credit Education at CureMyScore.com and founder of myexpertcreditwitness.com where he works as an Expert Credit Witness work in both Federal and State Court. With more than 20 years experience working in credit along with his extensive past Mortgage Originating career, he’s dedicated to sharing his knowledge to educating consumers.
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