By Tim H Lambert
If you have a horrible credit score, do you have any idea on how to quickly improve your credit score? You may think that it is impossible to raise your score from a horrible 594 to an excellent score of 735, but it is possible to do it! Here are some few steps to improve your credit score:
* You can do credit repair with the help of credit repair services that will cost you lots of money, but most of them will not work. Good thing there is a do-it-yourself way to remove negative accounts in your credit report. Ask proof to the collection agencies to show that the accounts are yours by writing them letter. Most of the time, they do not have proof that the bad accounts is your, hence you can delete them to your report.
* Try to open new accounts having high credit limits and remember to keep the balances low. Avoid adding new accounts fast; take it slowly like adding new account once every two months.
* Additional accounts having years of correct and on time payment history to your credit file improves your credit score dramatically.
* You should pay down all your credit cards and avoid revolving your accounts. If your aim is to improve your credit score quickly, you can forget paying down your high interest rate cards and work on getting the balances down over higher interest rates.
* Even if plan to pay your balance in full, try not to use your entire credit line each month. You should know that the available credit is the average of your billing cycle and that is at times less than 30 days.
* Exercise you legal rights to dispute items that are old and negative. For example, let us say that your insurance company did not pay a medical bill and because of that you have a collections account. What you can do is that persist on protesting that the charge was unfair, or better yet, you dispute the account to the credit bureaus as tell them that it is not yours. Show proofs if possible. However, you should also know that the older and smaller the collection account is, there is a big chance that the collection agency won’t update itwith the accurate information and the credit bureau cannot update also computer records.
* Try the pay for delete technique. If you can get a collection agency that will agree to remove or delete debts from your credit report after paying for it, this will be a good way to improve credit score fast. The technique is applicable to smaller amounts of $500 and below. A written agreement can help you in this technique and it is best that you have them before paying the debts.
* You probably are a credit card user and as you apply for new one, never choose credit card issuers that do not report the limit of your credit. Secured credit cards have this kind of problem. If you do not know the limit, the credit bureaus will typically utilize the highest balance that you used as a substitute to your credit limit. If this happens, you will experience being a maxed out account and it will hurt your score.
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