It is estimated that approximately 33 million Americans struggle with some form of bad credit. This is about 10% of the total U.S. population.
One credit history is becoming increasingly important. Fighting for people with bad credit, sometimes it feels like the number is on their foreheads, tattooed, especially when you have made an attempt a loan, car loans or personal loans safer.
The fact is that creditors are not anxious to extend a loan for you, if your> FICO score is not beyond the realm 650th There are a number of reasons why your FICO score may be low - Bankruptcy, not too much debt to pay your bills on time, etc.
The good news is that your credit score can be improved. The key to increasing your credit score is to get a loan, and to prove it to pay the creditor that your debt on time and not maxing out your credit line, are capable of. These four simple stepsWill help your credit score:
1. Get a copy of your credit report. Take advantage of the free government credit report from each of the National Consumer Credit Bureaus: Equifax, TransUnion and Equifax. This will help you to your starting point to understand. It will answer the question - "How bad is my credit card?"
2. Apply for a line of credit. You can opt for an unsecured credit card or a secured credit card.
3. Once you have the card does not max yourCredit Card. Try not to exceed 70% of the limit of the credit card. For example, if the credit card limit $ 1000, you should only cost up to $ 700.
4. Every time you pay your bills on time. This accounts for 35% of the FICO score. It is the most important factor for the proof of your creditworthiness to your creditors.
Just practice these four principles will help you to increase your credit score in the coming months.
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