Boost Your Credit Score Without Losing Your Mind

It is counter-productive to spend loads of money on credit repair books and schemes that are advertised on TV and on the Internet. With a few basic tips and knowledge about how to build your credit and maintain a good credit score you can get this information just by reading reputable forums, blogs, and financial advisor radio/TV shows.

Credit Report Agencies

When lenders refer to your credit report, it’s important to know from which agency they are viewing the credit report. There are three primary agencies that are listed below. Each of these agencies maintain a separate credit file on you and there could be huge differences between the credit reports. This is why it’s important to always check your report from all agencies.

Tips to improve your credit score!

By now you’re probably aware that your credit score greatly influences the price you pay to borrow money. The lower the credit score, the greater the risk, the higher the interest rate. We won’t question the logic about charging individuals a higher rate that may already be financially tight, but we can show you some tips that will help improve that score and maybe save you a few bucks on your next loan or credit card.

It’s very important to understand that your credit score is not going to jump over night. I highly recommend signing up for a reasonably priced credit monitoring service. Be cautious of the overly priced ones that offer all three credit bureaus at a lavish cost. Typical rates of these will be around $5 – $20 per month – but it’s worth it. Improving your credit is a lot like losing weight – you have to have discipline, control, and patience to be successful. You also need to monitor your progress (just like you’d hop on a scale) to see how it’s going.