First, know exactly how your credit is. Credit scores can be monitored and tracked on websites such as myfico.com, annualcreditreport.com, and of course the major three credit agencies which are Experian, TransUnion, and Equifax according to the Federal Citizen Information Center.
There are many unique locations to finding your credit information. Many sites advertise free credit reports and scores but take careful note of any print which denotes that you are signing up for a trial which you will be charged for later on. You can choose to subscribe to these services so that you may access your report on a more frequent basis but it is entirely up to your discretion.
Second, know what affects your score. Think to yourself, do you know exactly why your credit score is what it is? There are numerous factors which go into determining your credit level so it may be handy to keep a list somewhere outlining the factors that go into this calculation. A few of these include having a short credit history, having too much debt on your credit cards compared to the limits, being late for payments and debts, applying to too many credit cards in a short time period, and not having enough variety in your types of debts, and also declaring bankruptcy.
Third, figure out how to get a good credit score. You need a better score to get a mortgage and the better your score is the more lenders are willing to offer you and at a much better interest rate. 700 is a ball park range for what lenders would like to see but 740 is even better to shoot for.
Fourth, work on building up your credit. Having a limited credit history can hurt you if you need to obtain a loan. One thing you can is to open a savings and/or a checking account. Keep a high balance in these accounts because lenders see these as assets and are more willing to lend to you when you have higher amounts. Dont make any late payments on your bills and keep credit limits low. I bet you didnt know that one late payment remains on your credit report for seven years. That is a long time for one little mishap. Get a credit card if you dont already have one. It is typically easier to get a card through a department store such as Sears or a gas station than through the major lenders alone. If you arent comfortable with this, talk directly to your bank to see about getting a card through them with a low balance. In addition, have both installment accounts such as home and auto loans and lines of credit that revolve. Lenders want to see both.
Fifth, fix any problems when it comes to your credit. You may want to subscribe to a credit monitoring service to alert you to any changes. Make t a habit to check your report frequently to dispute anything that may seem odd. If your credit has suffered make adjustments like a budget and stick to it. Dont miss any payments.
Last but not least, dont fool yourself into thinking that if you pay a company they will fix your score for you. Outside sources may seem appealing with promises but all they are really doing is charging a fee for something you have the power to do on your own. The Federal Trade Commission itself warns against using any of these services and recommends you take responsibility for your credit and all management of it as well. If you must seek an outsider source, the National Foundation For Credit Counseling should provide you with some useful information for little to no cost.
Lori English is a Los Angeles real estate agent, broker and internet business woman. As a web expert, she writes about Los Angeles homes for sale, as well as for other websites. With her experience, certificates, and degrees, she understands real estate, the internet business, and how to invest in properties.
There are many unique locations to finding your credit information. Many sites advertise free credit reports and scores but take careful note of any print which denotes that you are signing up for a trial which you will be charged for later on. You can choose to subscribe to these services so that you may access your report on a more frequent basis but it is entirely up to your discretion.
Second, know what affects your score. Think to yourself, do you know exactly why your credit score is what it is? There are numerous factors which go into determining your credit level so it may be handy to keep a list somewhere outlining the factors that go into this calculation. A few of these include having a short credit history, having too much debt on your credit cards compared to the limits, being late for payments and debts, applying to too many credit cards in a short time period, and not having enough variety in your types of debts, and also declaring bankruptcy.
Third, figure out how to get a good credit score. You need a better score to get a mortgage and the better your score is the more lenders are willing to offer you and at a much better interest rate. 700 is a ball park range for what lenders would like to see but 740 is even better to shoot for.
Fourth, work on building up your credit. Having a limited credit history can hurt you if you need to obtain a loan. One thing you can is to open a savings and/or a checking account. Keep a high balance in these accounts because lenders see these as assets and are more willing to lend to you when you have higher amounts. Dont make any late payments on your bills and keep credit limits low. I bet you didnt know that one late payment remains on your credit report for seven years. That is a long time for one little mishap. Get a credit card if you dont already have one. It is typically easier to get a card through a department store such as Sears or a gas station than through the major lenders alone. If you arent comfortable with this, talk directly to your bank to see about getting a card through them with a low balance. In addition, have both installment accounts such as home and auto loans and lines of credit that revolve. Lenders want to see both.
Fifth, fix any problems when it comes to your credit. You may want to subscribe to a credit monitoring service to alert you to any changes. Make t a habit to check your report frequently to dispute anything that may seem odd. If your credit has suffered make adjustments like a budget and stick to it. Dont miss any payments.
Last but not least, dont fool yourself into thinking that if you pay a company they will fix your score for you. Outside sources may seem appealing with promises but all they are really doing is charging a fee for something you have the power to do on your own. The Federal Trade Commission itself warns against using any of these services and recommends you take responsibility for your credit and all management of it as well. If you must seek an outsider source, the National Foundation For Credit Counseling should provide you with some useful information for little to no cost.
Lori English is a Los Angeles real estate agent, broker and internet business woman. As a web expert, she writes about Los Angeles homes for sale, as well as for other websites. With her experience, certificates, and degrees, she understands real estate, the internet business, and how to invest in properties.