easy ways to improve your credit score fast
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Your credit score is like a snap shot, just capturing a moment in time. When one of the major credit bureaus “pulls” your score it is determining your score by what is on your credit report at that instant.TRANSCRIPT
Easy Ways to Improve Your Credit
Score Fast
www.rlkramer.com
About Us
RL Krmer LLC is one of the top credit consultants and personal financial Training Firm in the US which is headed by Richard Kramer.” His passion, research, results, and willingness to be accessible to his clients have helped countless people repair and improve their credit scores and maintain a healthy financial lifestyle for nearly 35 years.
www.rlkramer.com
What is Credit Score?
Your credit score is like a snap shot, just capturing a moment in time. When one of the major credit bureaus “pulls” your score it is determining your score by what is on your credit report at that instant. Creditors report your activity and balances at different times during the month. Some credit inquiries show up the moment they’re run, while others appear 30 or more l days later. Your score can literally change from day to day, and even minute to minute!
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Keep your balances low. The less you owe on your credit cards, the better your credit scores will be. Keep all of your balances below 25% of your credit limit. If you are carrying a high balance on one card and small balances on others, try and spread your balances out between all of your cards so that no individual card has a balance higher than 25% of its credit limit.
For even better credit scores, pay your credit cards off monthly. It’s a great feeling to have no debt, but it’s also important to use each of your credit cards at least once every three months to keep the accounts active and reporting to the credit bureaus.
Keep your credit card balances low
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Ask for an Increase in your Credit Limit
This is an easy way to reduce the ratio of your credit limit to your balance (utilization ratio) and create a credit score increase. If you have been paying as agreed for at least five to six months go ahead and ask for a credit line increase! Keep in mind that the credit limit increase is for increasing your credit scores — not to borrow against. The higher your credit limit and the lower your balances the better off you will be.
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Avoid Obtaining New Credit
If you get a new mortgage or a new auto loan, your credit score will take a hit! Experian, Equifax and TransUnion scoring models all factor in “new credit” as a negative item, reducing your credit score. Fortunately this only lasts for about six months until a positive re-payment track record is established. As with your credit card accounts, the credit bureau’s (Experian, TransUnion and Equifax) scoring models also look at the amount you have borrowed against what you owe on your home mortgage and auto loan. Loans that have been paid down overtime are a huge positive when it comes to increasing credit scores. Making more than the minimum monthly payments on these loans will quickly reduce your payoffs and boost your scores!
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Have Negative Items Removed from your Credit Report
If you have negative items on your credit report, fixing them is an easy way to improve your credit score.
First, you need to review all three of your credit reports, one each from Equifax, TransUnion and Experian see if you have any derogatory items. Review them carefully for negative items and items that may not even be yours! Eighty percent of credit reports have some type of error. For get your three credit reports and scores go to http://www.rlkramer.com/links/ . Free credit reports without scores are available once a year from http://www.annualcreditreport.com
www.rlkramer.com
Contact - RL Kramer
RL Kramer LLC 424 Baker Ave, Unit 1664Whitefish, MT 59937
Phone: 406-730-7989Fax: 866-352-2595Email: [email protected]
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