Rebuild Credit History - 3 Tips To Help You Reestablish Credit
Statistics show that your credit score is being used to determine if you qualify for a job. In some cases it doesn't matter how qualified you are if you have a low credit score. That's just one of many ways that your credit can have a negative impact on your life. No human being should be treated in this manner. It is this very reason that I felt so compelled to write three fast action tips that anyone could put to use immediately. Tip #1 - It Is Inadvisable That You Do A Balance Transfer - Never transfer your balances to one low interest rate credit card. On the surface it sounds ideal. Credit card companies will attempt to lure you in by offering you low and even zero percent interest rates. If you fall for this trick you run the risk of increasing what is known as your balance to limit ratio. A high balance to limit ratio will lower your credit score. If possible try to maintain a balance less than thirty percent of your credit limit. This will allow you to keep a high credit score. Tip #2 - Lower The Balance Of Your Credit Cards - Pay down your credit card balance to thirty percent. This is a rapid way to increase your credit score. What makes this tip so appealing to most is because it doesn't matter if your limit is $20,000 or $2,000, your credit score will increase fast. Tip #3 - Try To Keep Inquiries On Your Credit Report To A Minimum - The average consumer is unaware that something as simple as an inquiry can decrease your score up to five points. Even applying for a new line of credit will lower your credit score.
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Did you know that most consumers have less than perfect credit? Did you know that having a low credit score is costing you money? Credit scores are the main determinant in a banks decision to approve or decline you credit..jpg)
