Improve Your Credit Score

Improve Your Credit Score

Many consumers are concerned about their credit scores; and with good reason. A good credit score can open the door for low interest credit and big-ticket items such as electronics, cars and homes. A bad credit score, on the other hand, can result in high interest loans and may even close the door on credit entirely.

If you have poor or bad credit, there is still hope. Along with making sure to pay your credit cards and bills on time, there are other ways to improve your credit score and save money when you apply for credit. Here is the number one way to improve your credit score according to ABC News.

Fix Credit Report Errors

Before you can begin improving your credit score, you need to know what it is. You will need to get your three free credit score reports from the major bureaus, according to ABC News. Once you have them, the article suggests analyzing all three reports for any “inaccurate or unflattering entries,” and disputing the errors by completing the proper paper work.

The most common errors include:

• Bankruptcies 10 years or older
• Debts covered by a bankruptcy
• Fraud or credit for which you didn’t apply
• Outdated demerits more than seven years old
• Lawsuits or judgments more than seven years old