Improve My Credit
If you are looking to take out a loan or apply for a credit card, just like me, then it will be very important for us to have a good credit score, this is often referred to as a FICO score. The fact is the better credit score you have, the possibility of being given a credit card is greater and the terms being offered to for a loan or a credit account you is way better. Even if your credit score is high enough, there are still ways to make it even better. So here are three possible steps which I used to improve my credit score and if you are interested in improving your credit rating quickly, you will find this very helpful.
In 1995, I made a horrible decision which ruined my perfect credit history. I quit my salary job and became an insurance salesman. Since the job only paid me by commission, I lost everything in just a few months. My house, my car, my credit rating, and even the respect that I had rendered for myself were all gone. By the end of 1996, all my credits were past due, and I was living with my mom. In 1997, I became a banker and came across several legal and highly efficient ways to improve my credit rating. As a result, I was able to increase my credit scores. So here’s what I did. After spending so much on credit repair services that actually didn’t work, I found legal ways on how to get negative accounts remove on my own. The first thing that I did was I wrote letters to the collection agencies requesting for proofs that the accounts were actually mine. I found out that 89% of the bad accounts do not belong to me. That is why I was able to get them deleted from my credit file. The second thing that I did was I opened new accounts which has high credit limits and kept the balances at bay. I discovered that by keeping my available credit limits high and use only 10% to 30% of my available credit, it dramatically my credit’s score. The final step that I took was I added new accounts having years of perfect payment history to my credit file and it really did raise my credit score. While you can certainly add accounts to your credit file for free, there are certain companies that have claims that they can also do it for free. The problem is, they charged you between $2,000 and $2,500 per account. If you want to have a credit score of about 700+ then you’ll need to have 3 to 4 of these accounts. This equates to a fee that will totally cost you of up to $6,000 to $10,000. You can conduct your own research on your favorite search engine for the companies that offer these kinds of services to their customers.
While there are several steps highly that I can actually use to improve my credit score, I always put up in mind that no matter how disappointed I was on my bad credit score, there are always ways in which I was able to do something and make it better, and just like me, you can also make these changes on your own. Note that there are many companies out there that offer help in this specific area and anything legal they offer to do for you, you can do yourself. Not only that it can help you save yourself from the impending fees that these companies will charge you, it can take you to personally control your financial destiny. Be sure to keep in mind that it will take some time, and that rebuilding your credit rating does not just happen overnight.
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