Ways to Boost Credit Score

By Think Credit Reports

Introduction

Think Credit Reports provides customers with a comprehensive credit report using data from all three credit bureaus. In addition to credit scores, Think Credit Reports protects customers from identity theft with active account monitoring and live updates regarding any unauthorized account activity.

Maintaining a good credit score is essential for keeping loan rates low and projecting a positive financial reputation. Here are some ways to increase credit score:

Steps

Get a Credit Card: Simply obtaining one or two credit cards can do wonders for improving credit scores. If possible, try for a card that reports to all three credit bureaus.

Keep Credit Balances Low: Having a significant amount of credit is important, but having a low balance is even more important. Experts recommend having a revolving credit amount of 10 percent or lower.

Conclusion

Negotiate: In the event that you are unable to pay balances, attempt to contact credit card companies to see if they can “erase” debts that went to collection. Many credit card companies provide customers with options in the event that they are unable to pay balances.

Report “Good Debt”: Debt is not always a bad thing to have on a report. In fact, many experts recommend keeping situations in which you handled payment well on your credit report for as long as possible.