Have you been assigned a poor credit score by the financial institutions? You must take steps to repair your credit score immediately as a poor credit score can have a lot of undesirable consequences. Here are some tips for fast credit repair: 1) Use your old credit cards - Here's a trick that most people don't know about. Experts suggest using your old but valid and usable credit cards. Since the card is old, its date of issuance would be earlier than the present credit lines and credit agencies are bound to give it more weight. The only prerequisite is that the card must be valid for some time to come, the more the better. Use your old credit cards to buy small items every month or so. Then pay their bills on time as soon as they arrive.
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You're not alone. You don't have to let credit problems cause stress and frustration in your daily life. Be equipped to make smart credit choices by knowing your credit score. "What is a credit score? A credit score is a three-digit number that summarizes your credit risk based on a snapshot of your credit report at any given point in time. Lenders, employers, landlords, utility companies and insurers use this score to decide your credit-worthiness and your interest rates. This number can be anywhere from 300 to 850. "Why is my credit score important?" The answer is that, your credit score is your ticket to lower interest rates! It affects so much of your financial life. Having a good credit score can determine whether you get a good job, a decent apartment, a deal on a cell phone, low or no deposits on your utilities and reasonable rates on your health, car and home insurance. Barry Paperno, manager of customer service for credit-scoring company Fair Isaac, which created the widely used FICO credit score, says, "When it comes to mortgages, auto lending, and credit cards, the higher your score, the lower the interest rate you're going to pay." Bad credit will cost you money. Your credit report is gathered together by Equifax, Experian, and Trans Union using two main sources: information provided by financial institutions like credit accounts and financial associations, and the public record which shows electoral roll information, court judgments, and bankruptcies. Your creditors send in the information that comprises your credit report, and they often make mistakes. But you are responsible for the accuracy of the information in your credit history. That's why it's critical that you acquire and check your free credit reports online often. Getting free credit reports online is easier than ever before! The Fair Credit Reporting Act requires the three main credit bureaus to give you one free report each year. Equifax, Experian, and Trans
You're not alone. You don't have to let credit problems cause stress and frustration in your daily life. Be equipped to make smart credit choices by knowing your credit score. "What is a credit score? A credit score is a three-digit number that summarizes your credit risk based on a snapshot of your credit report at any given point in time. Lenders, employers, landlords, utility companies and insurers use this score to decide your credit-worthiness and your interest rates. This number can be anywhere from 300 to 850. "Why is my credit score important?" The answer is that, your credit score is your ticket to lower interest rates! It affects so much of your financial life. Having a good credit score can determine whether you get a good job, a decent apartment, a deal on a cell phone, low or no deposits on your utilities and reasonable rates on your health, car and home insurance. Barry Paperno, manager of customer service for credit-scoring company Fair Isaac, which created the widely used FICO credit score, says, "When it comes to mortgages, auto lending, and credit cards, the higher your score, the lower the interest rate you're going to pay." Bad credit will cost you money. Your credit report is gathered together by Equifax, Experian, and Trans Union using two main sources: information provided by financial institutions like credit accounts and financial associations, and the public record which shows electoral roll information, court judgments, and bankruptcies. Your creditors send in the information that comprises your credit report, and they often make mistakes. But you are responsible for the accuracy of the information in your credit history. That's why it's critical that you acquire and check your free credit reports online often. Getting free credit reports online is easier than ever before! The Fair Credit Reporting Act requires the three main credit bureaus to give you one free report each year. Equifax, Experian, and Trans