# 1 – Do not apply for brand new bank cards – When you apply for new credit cards too quickly and too often, it'll decrease your average account age. This could negatively have an effect on your credit score. Avoid opening new bank cards till your credit rating has improved.
# 2 – Do not close old bank card accounts – You want to build an extended credit history of paying your expenses and the use of credit responsibly. When you close your oldest bank card accounts, it's going to shorten your credit score history. This will decrease your credit score. In fact, use one of your oldest credit cards once in a while and repay the balance. That will show that you've got an extended credit history and that you are accountable with the credit line.
# 3 – Do not ask your creditor to scale back your credit limit – If your balance rises above 35% of your available credit limit, your credit rating will go down. Be sure not to ask your creditor to reduce your credit limit. This might elevate your balance over 35% of your available credit.
# 4 – Avoid consolidation – While you want to repay your debt, don't do this by consolidating the debt into one account if the consolidation causes the balance to rise above 35% of your available credit limit. As discussed earlier, if this happens your credit score rating will move down. Having multiple credit lines with balances fewer than 35% of your credit limit will probably be more a good suggestion to your credit score.
# 5 – Some things take time – Be conscious that paying off collection accounts or paying off delinquent accounts won't get rid of the bad report from your credit score report. It continues to be part of your credit history. Your credit ranking will enhance through the years as you rebuild a superb credit score history. Delinquent bills stay on the credit score record for 7 years.
# 6 – Avoid credit repair agencies – Credit repair companies can't do anything else you cannot do yourself. They can not make the credit reporting agencies do away with or amendment the information in your credit report.
Helpful Tip # 7 – Shop for credit within a short while – Most credit ratings may not be affected by more than one inquires from creditors related to student loans, vehicle loans, or mortgage companies provided they're made within a short timeframe. Most credit ratings will consider these as a single inquiry, so it will not have a lot impact to your credit score.
Helpful Tip # 8 – Check your individual credit record – Contrary to widespread belief, you can also check your individual credit record as repeatedly as you want. This will not negatively affect your credit score.
And finally, if you are interested in free credit repair info, please visit www.creditrepairthesmartway.com
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