Tips For Credit Score Boosting and Improvement

A low interest rate is what everyone who secures a home mortgage or loan wants to have. Not only will a lower rate reduce your monthly payments but it will save you literally thousands over the life of your loan or mortgage. Unfortunately not everyone will have access to low rates, mainly because of credit issues and low credit scores. However by using some simple credit score improvement tips you can boost your fico score to a level that will get you those low rates.

Simple Credit Boosting Tips

Increase Credit Lines- This is by far the easiest and oldest trick in the book. It involves requesting a credit line increase on your accounts in order to bring your balance to limit ratios back to around 50%. A credit score boost is very common once a credit card or store account card has a balance at or below 50% of the account limit. If you can do this to multiple accounts the results can be dramatic.

Dispute Old Information-If you have a copy of your credit report make notes of the accounts that are negatively affecting your credit score. Once you have these accounts identified you can go right to the credit reporting agencies websites and dispute the information. You can dispute anything on your credit report,even accurate negative information. If you succeed in getting some of this information removed your credit score should rise as a result.

Get Added To Good Accounts- Although this trick is not as powerful as it used to be it still works for a small increase to credit. What you do is have a friend or relative add you as an authorized user on one of their credit accounts. As long as the account has a low balance to limit ratio and is paid on time it will show positively on your credit report. This however is a risky method because if the person ever defaults or begins to pay late it will affect your score as well.

Although increasing your credit with simple tricks can be done the most important this to remember is that paying your bills on time and spending responsibly will result in long term positive credit that will help you get the best interest rates possible for you mortgage or loan.

Get more Tips To Improve a Credit Score and Credit Repair Tactics at http://www.mkemortgage.net