One of the great mysteries of life is as the three major credit bureaus (Experian, Equifax and Trans Union) score credit. All they have statistical secret formulas to determine your credit score, but are not willing to reveal exactly what, exactly, constitutes your score. This may make it difficult for people with credit problems to try to improve your score with the hope of getting a house or a car loan later. Although the exact formula is a secret, there are some things you can do that without doubt, improve your score: Pay a line of credit. These loans let you borrow more than once against the equity in your home, are considered revolving credit, such as a credit card.
Pay down or pay it, or should help your score. Check your newspaper, you are entitled to a free copy of your credit report once a year. Looking over his credit report, you can ensure that the debts have been paid on time are shown in the report, such as student loans, car loans or has been paid in full. You can also ensure that their credit limits credit card is reported correctly. Lenders look at the ratio of debt to available credit, and if your reported credit limit is low, you can make it appear that it is almost on your credit limit.
Check for duplicate information in your credit report. If your mortgage has been sold to another company, make sure your report does not show your mortgage twice. Keep balances on credit cards and other revolving accounts low. You do not want seen owing too much money to different lenders for more. Do not have too many credit accounts open. Ten Visa cards will not help your credit score. Aim for a maximum of three revolving credit accounts. While reviewing your report credit regularly, and by eliminating unusual entries, you should be able to increase your credit score. And with credit, everything helps. e Copyright 2005 by Retro Marketing. Essmeier Charles is the owner of Retro Marketing, a company dedicated to information sites, including,