4 Tips On Improving Your Credit Score

Flash the news reads on all the headlines that the Credit Crunch is here and you don’t know what to do. Credit card interest rates skyrocket, homes are being foreclosed and interest rates seem to flatten. The Stock Market is tanking and you have lost allot, but now is the time to be smarter, to work harder, and gain information that you once were too busy to worry about. My name is Angela S. Bessard and I am the CEO of Conquer Credit. I love helping my customers win in their credit decisions that will eventually impact their financial choices and investments. Today I want to give you some tips to help you keep your fico score high, your options many and your mind clear with the knowledge of the credit industry.

Here are my 4 Secrets to your Credit Today:

Manage your credit to prevent costly errors and to minimize identity theft. It is important that you set up an account with an online company that you can have access to whenever you would like to check your credit score or just review your history. I recommend, http://www.creditreport.com/ The reason this is a recommendation is so that you are always prepared for a purchase, can monitor any errors that may occur and the obvious protection against ID theft.

Lacking revolving credit history (your credit cards only) can cost you on an average of 20-80 points relating to your fico score number or average score. The national average is to have at least 2 -3 credit cards. If you don’t have any credit cards, it is hard for banks and financial institutions to see what kind of history you have created, and better yet how you have leveraged your cash position when it comes to borrowing. If you are lacking “revolving credit history”, please obtain a minimum of two secured cards and use the 80/20 method of payment for at least six months straight. For more information on revolving and secured credit cards logon to http://www.bankrate.com/

Correct errors and derogatory accounts. A negative credit history can keep you paying high interest rates on everything. The financial industry is looking for an average score of 700 or better now a day. If you have a credit score under 680 it is time for you to look into some resources to help you increase your score and get rid of any negative factors and accounts. You can repair your credit history yourself if you are not willing to make a financial investment, I would recommend going to http://www.creditdoctor.com/ to purchase a do it yourself kit. Please note that repairing your credit is not easy and with some cases will require professional help. For more information on our firm visit http://www.conquercredit.com/

Medical bills and collections – collections can cause your fico score to plummet. If you are ever sent a bill in the mail by a collection agency and you do not agree with the bill you must do the following:

Send the collection agency a certified return receipt letter, indicating that you do not recognize what the bill is concerning and you would like proof that you in fact owe the bill. You must indicate in the letter that you are sending this letter to them to make sure that they do not report anything to your credit report. Once and if they prove that this bill is indeed valid you will agree to make payments.

Never dispute and not pay an outstanding collection. If you do the interest can cost sometimes 3 times what the original debt was and not to mention your fico score will be compromised. Principle should always be thrown out the door in these type of situations.

So there we have it my friends. Until next time remember your credit is an investment tool to build wealth, Happy New Year!

Angela Setters Bessard