Is your credit score a mystery to you? It shouldn’t be! If your credit score is a mystery to you, you need to solve that mystery. How to improve credit scores shouldn’t be a mystery either.
You should know your credit score better than you know your passwords, spouses birthday, children birth dates and wedding anniversary dates. You can get in trouble by not knowing dates, but you will pay more by not knowing your credit score.
Your credit score is the way financial institutions evaluate you and your creditworthiness. Your creditworthiness determines how much you will pay in interest on your auto loans, mortgage loans, credit cards and even your insurance premiums. Improve your credit score and have more money to spend on other things.
Steps To Improve Credit Score Mysteries
You may be surprised about how much money you can save by getting to know your credit score. Learn how others work to improve credit scores.
#1 – Credit Report vs Credit Score
Start by realizing the difference between your credit report and your credit score. Your credit score is calculated from the information within your credit report. You won’t know your credit score unless you review your credit report.
#2 – Order Your Free Credit Report
By law, once a year you can get a free credit report from the 3 national credit reporting agencies. You don’t have to wait to get denied credit in order to receive your free credit report. The law entitles everyone to a free credit report from each of the 3 national credit reporting agencies on an annual basis.
#3 – Check Your Credit Report For Errors
Mistakes happen. Sometimes inaccurate information does get reported. Unless you check your credit report, you will not be able to find the errors and make the necessary corrections. By leaving the errors in place, your credit score will be lowered even though you do not officially have bad credit.
Credit reporting agencies just report the information they receive; they are not responsible for verifying or correcting that information. You must be responsible for the verification of data.
#4 – Know When To Get Credit Repair Help
There is no mystery to credit score numbers. Credit scores range from 300 to 850. A credit score is below 750 is bad, a credit score about 750 is good and a credit score of 850 is perfect. We should all aim for an 850.
If your credit score is below 750 you need credit repair help to raise that score above 750. If your credit score is below 750, you are paying more for almost everything you buy. You are charged higher interest rates on auto loans, mortgage loans and credit cards because creditors believe you are not as financially responsible as you should be.
If you need credit repair help it’s okay. Waiting and not getting help will only put you farther and farther behind. Learning how to improve credit scores is not a mystery.