Credit Repair - Key Techniques To Increase Your Credit Report Scores

Joey Lee
November 14, 2008 — 1,273 views  
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Increasing your credit report score rating is not a difficult proposition. It simply takes time and patience. You must not expect to see results overnight. And if you are approached by someone in a credit repair company which insists that they are capable of cleaning up your credit report within a couple of months, walk away.

If you have plans to buy a new home, or a new care in the future, now is the time to review your credit report and improve your credit score ratings. We will share some simple legitimate and easy to apply techniques to help you progressively increase your credit report scores over a period of time.

Use Your Credit Cards, Make Repayments, Clear Payments Regularly. The optimal credit cards you should possess are about 3 to 6. The more credit lines you have the more it will hurt your credit scores, especially when you are accumulating outstanding unpaid balance attracting hefty interest on them. Pay off the outstanding amounts as much as you could but never clear all at once. Do it progressively with a schedule and budget.

Then proceed to repairing your credit cards status and henceforth repairing your credit report scores. The fact that you are making regular payments on your cards and are reducing your debt will show up on your credit report, and you will get credit for this. In the meantime, do not use your cards to make additional purchases. Note that your aim is to pay off your debt.

Well, it may sound unbelievable but there are people who have been paying with cash throughout and hence do not have a good credit score in this respect. No Credit Report would be able to unravel the fact whether you are a good money manager at all if you do not even possess a credit card. In this case, apply for a couple of credit cards. Make a small purchase on each card every month, and pay the card every month. These payments will show on your credit report, and they will begin to increase your credit score. In short, you are creating a legitimate image of a responsible credit user.

Review your Credit Report & Ensure that Your Credit Report is of Full Factual Accuracy. First thing you need to do is to get your credit reports, from each of the big three Credit Reporting Bureau. As we cannot stress more, to get better accuracy and clarity, you need to read all 3 credit reports for the big 3, namely Equifax, Experian, and TransUnion. And remove all the inaccuracies by liaising with them if any.

Pay Your Bills Promptly Via Online Banking. This is something that mot many people realise. When you apply for a bank account the bank gives you an option to register for their online banking services. Accept it and fully take advantage the ease of online banking to pay your bills on time. That is as and when your bills come in, you must schedule them to be paid online.

In addition, you can pre schedule payment of recurring bills, hence you will no longer be plagued by unpaid bills with the online banking auto payment feature. There had been cases where the speed at which you clear your bills makes 35 percent of your FICO score, so bill payment is important.

Apply To Increase Your Existing Credit Limits On Your Card Or Cards. To avoid maxing out your credit cards, or even coming close to it, you may opt to apply for increasing the credit limit on your cards. Remember the objective is to ensure that you have spare available credit, hence you must have the discipline not to use this extra approved credit. And of course apply to raise the credit limit one card at a time, and space out the timing to avoid raising questions.

For more good reads on Credit Repair and Credit Report Scores do visit my site.

About the Author

Joey Lee has 17 years of banking, financial, business & marketing experience, holds a CFP & an Executive MBA, and a Platinum Ezine Author. Learn authentic Credit Repair skills and comprehensive information on {a href=" http://www.creditrepairskills.org/credit-report-analysis-tips"} Credit Repair Tips , credit reports, credit scores at CreditRepairSkills.org

Joey Lee