Ideas for Repairing Credit
Posted by maryann - 21/06/10 at 08:06 pmUnderstanding how to keep your credit in great shape is an often forgotten, yet critically important item that should be on your to do list. A handy list of ideas are these quick tips on credit repair. The overall goal is to maintain a high credit score also referred to as a FICO score. This score is what determines the interest rates you end up paying on mortgages, car loans, credit cards, and many other loans.
The most essential action for keeping credit scores high is to pay all your bills before the due date. Late and missed payments cause large drops in the score value. There are three major agencies that compile credit information, Experian, Equifax, and TransUnion. It is possible that any one of these could have erroneous information in your file. So checking your credit information on a regular basis should become a routine task. At a minimum it should be checked once a year, which consumers have access to one free report a year. Unfortunately, you do not obtain your FICO score – that is an extra cost. However, you can see all of your active and closed accounts, make sure to check each one carefully for accuracy. For more excellent financial advice on many topics visit halfmoney.com.
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