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How To Improve Your Credit In The New Year

Its 2009! A new year means a fresh start, and is a perfect opportunity to improve your credit score. As a result of the sub-prime credit and lending crisis, lenders are demanding a higher credit score to approve new credit.

That means that it is more of the highest importance to focus on improving your credit score. So, lets get started on your road to raising your credit score.

First, to improve your credit score, its important that you understand how your credit is calculated. Your credit report contains data including your payment history, debt total, and available credit.

This information is strategically placed in a mathematical formula, and then calculated to generate your credit score. The determined number is a highly accurate prediction of how likely you are to pay your bills.

The highest possible credit score is 850 and the lowest is 300. The average American has a score somewhere between 600 and 800. To really benefit, you must increase your credit score so it is at least in the average range.

The next and perhaps most important step is to increasing a credit score is identifying credit information that damages a good credit score. This includes but is not limited to collections, late pays, repossessions, charge-offs, bankruptcy, and judgments.

About a quarter of all credit reports have an error that is serious enough to keep a consumer from receiving credit approval. And, another large amount of credit reports contain mistakes that force a consumer to pay higher interest rates on big ticket items like mortgages or car loans.

When you improve your credit score, you’ll save money, time and embarrassment. Mistakes can end up on your credit report for numerous reasons, including: mistaken identities, identity theft, and administrative mistakes.

Regardless of the reason, if you want to raise your credit score, you must dispute any errors you find. When you find an error, you should write a letter to the top credit bureaus and ask them to investigate the mistake.

Thanks to the unstable economic times, its more important than ever to raise your credit score.

By taking the steps listed above, you’ll be on your way to a stellar score, and a better life.

By: Chris Douglas

Article Directory: http://www.articledashboard.com

For a free credit consultation call 1-866-246-7311. Or for a free credit dispute letter or a credit repair e-book visit us.

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An auto lease looks pretty much the same on your credit report as, say, a credit card does. Having a unsecured credit card, and paying it on time, is more important for a company to see when they are looking at your credit in general.

 You see, the company considering giving you credit looks at how you pay your bills with both assets that are secured and unsecured. For example, if you are paying your auto lease on time that is not as highly regarded as paying your unsecured credit card on time.

The reason is people understand that in order to KEEP your car you will need to pay your auto lease on time otherwise it will be repo’d. This is not the case in the case of an unsecured credit card.

In that case, the unsecured credit card has very little recourse against you outside of putting a bad mark on your credit report. 

But, to answer the question, an auto lease looks just the same as any other time you take out credit in general on your credit report. Whoever you lease the car from is reporting to the credit bureaus on how you are doing with the payments- good or bad. So keep this in mind!

I also get a lot of questions about what can be listed in general and how does a company prescreen credit reports when they are thinking about possibly hiring you.

First of all, don’t get worried if you have a few collections or judgements on your credit report, as everyone goes through problems in their life.

You should not worry too much about an employer making a decision on this behalf. Add enough value to them to where you could be Charles Manson and they still would hire you because you bring that much value to the table!

Focus on that and that’s what you’ll get!

Besides, what can be listed on a credit report isn’t really going to say much about you as a person. I’d be more worried about a background check personally than a credit report check, as the information on there should not be really anything that would affect your getting hired or not getting hired.

Don’t worry too much about that. I do, however, recommend you get your credit report now by clicking here and going through the steps. It’s free and won’t cost you but 1 minute of your time. Arm yourself with the exact data you want to know about what’s on your credit report. Do it now by clicking here before it’s too late!

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What you absolutely, positively need to know about your credit score!

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