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Credit Score: How To Improve Your FICO Rating

Aug 20, 2008
Have you ever tried to get your loan refinanced without success? if your answer is yes, then the most probably scheme is that you could not do it because of your credit score. However, there are some simple measures that you can take in order to improve your FICO rating, this article is intended to analyze 3 aspect of credit reporting, such as; getting your credit score raised over 600, avoiding higher interest rates and getting your credit score report for free, hopefully you will find this information useful.

How To Get Your Credit Score Over 600

One of the best way to get your credit score improved over 600 is by using a lower interest credit card and making your payments before the due date, after a reasonable span of time, you will get some interesting results, the average time in order to see your credit score raised is at least 8 months. The only thing that you need to do in order to get a better credit score is to pay on time every month without exceptions.

How To Avoid Higher Interest Rates

While you have bad credit score there is no way to get lower interest rates, because you are for lender companies a high risk customer. Consequently, they will be willing to lend you but because of the risk with a high interest rate. However, there are two ways to avoid higher interest rates;

1.- By improving your credit score and later on getting a refinance loan with a lower interest rate, or

2.- Avoiding going into new debt and loans during the span of time you are working on improving your credit report.

How To Get A Free Credit Report

The first step in order to improve your credit score is getting your credit report for free, you can do it once a year via major consumer reporting agencies such as Experian, Equifax, and TransUnion. This credit report is without any cost and it is a must if you are serious about getting your credit score going up. Of course, you can paid for this report and check it out more than once a year.

To sum up, by improving your credit score you get just benefits, by repairing your credit report and getting a better credit score you can negotiate lower interest rates on your refinancing loan and access to new opportunities after a while. Do not give up and follow the simple tips listed above.
About the Author
Hector Milla runs 2 websites, the Bad Credit Score Loans website and the Online Credit Repairs Tips resources center. Where you can find free bad credit loans advice and credit report repair tips respectively, visit for further information. Website associated with http://www.Merquen.com .
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