Home » Finance

How To Raise Your Credit Score As Fast As Possible

Dec 12, 2007
Imagine that you desire to purchase a new car or take a mortgage. You're sure that your credit application will be successful because your credit is good but the credit report returns but your application was rejected. Or perhaps your application was approved but the finance rate is extremely soaring that you can ill afford. Then you realize that you need to raise your credit ASAP.

The individual or company that's assisting you get the loan will usually tell you how to do this. Many of them don't, so you ought to be familiar with how to do it yourself. Relax because anyone can do it. First, read everything you can find on credit repair. Check the laws that apply to credit repair and discover your rights. Don't get your expectations too high about the process. Be realistic.

Remember it takes time, endurance and work. If you're diligent a creditor will notice the effort you're making and consider it when deciding whether or not they will advance you credit.

Obtain a copy of your credit report from Experian, Equifax, and TransUnion. They may have varying information on your record to some extent so it's essential to obtain and study all of them.

Look for any erroneous data in your credit report and file a dispute letter for information you disagree with. Sample dispute letters can be found online. The credit bureau has 30 days to look into the claim. If they fail to substantiate the charge, they have no option but to erase it from your credit report.

Subsequently, search for debt that is out of date. There is a statute of limitation on debt. Redundant debt can show on your credit report only for a specific period. If old debt exists, inquire from the credit bureau whether it's time for it to be erased.

Oftentimes people have old debt on their credit report and are ignorant to the fact that they can easily get it eliminated from their credit reports.

Too many credit accounts open can negatively affect your credit score. Examine the accounts you have and establish the ones that are most essential and the ones you have had the longest.

Credit cards that you have been in possession of for a long time will do much in raising your score than those that are newer. This is because old credit cards bestow a longer history of credit. If you make your mind up to shut some accounts, shut newer ones first.

You can also trim down the balance on an older credit card and hold on to it to bestow you that long history. Get up to date with late payments on your credit report by calling the creditor and propose or ask for a payment plan to get you current.

A number of credit companies may propose a lower or no interest time within which to repay. A few steady payments on those debts will appear on your credit report and your potential creditor will notice and take into consideration your endeavor.

If you are in a situation in where you must lift up your credit score pronto, follow the steps above. If you are dedicated and stick to the task then you will certainly notice the difference. Success in your efforts to clean up.
About the Author
CreditCardPerfection reviews credit cards available to consumers. Learn more about American Express credit cards and Capital One credit card
Rating:
Please Rate:
(Average: Not rated)
Views: 140
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources