If you find yourself asking for help with bringing up your score, you are not alone. The current economic conditions have caused banks and lenders to become more strict, and you now have to have almost perfect credit in order to get a mortgage loan, car loan, or even a personal loan. That is why it is important that you take steps to get your FICO score up as high as possible before you submit an application for a loan.
One of the first things I recommend people when they ask to help raise my credit score is to catch up any past due bills. When you pay a bill late, many companies make an inquiry on your report. They do this knowing that it will be a negative on your credit. When you have an inquiry month after month from a debtor, it alerts a potential lender that you have a habit of paying late, especially if these inquiries are coming from utility, cable, or telephone companies. So while it may be hard on your budget to pay on time every time, it definitely does wonders for your score in the long run. And, as an added bonus, you will save tons of money on late fees.
Another quick thing I tell people who are looking for ways to help raise my credit score is that they should get new accounts. This may not be possible, depending on your current score, but if you can get approved for a few credit cards then this will increase the available credit that you have which will give your score a little boost. Just be sure that when applying for new credit cards, apply for them all on the same day if possible. If you apply for them close together like that, it only counts as one inquiry.
If you have any negative remarks on your report, it may be easy to get them off and that is yet another way to help raise my credit score. Just get a full copy of your FICO report, which will include the addresses and / or phone numbers of your debtors. Send a written notice to each debtor informing them that you dispute the negative remark that they placed on your report. Continue to dispute all negative reports until the debtor agrees to remove them.
It is very difficult to purchase the items you and your family need if you do not have a good FICO rating. For this reason, you may find yourself needing assistance to help raise my credit score. By following these tips, along with other things that you can do at home, you can bring your score up and get approved next time you apply for a loan.