This Simple Trick Will Raise Your Credit Score

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Clasmatic

By: Savardekar

If your credit score is below average, there are steps you may do to raise it; some are more effective than others.

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When you have an excellent credit score, you can get better loan terms and cheaper interest rates on credit cards.

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However, it is not always simple to improve your credit score overnight. First, evaluate why your score is so low.

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1. Pay down your revolving credit balances

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Revolving debt reduction can have a significant impact on your credit score because it helps to keep your credit utilisation rate low.

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2. Increase your credit limit

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You have two options for increasing your credit limit: ask for an increase on your current credit card or open a new card.

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3. Check your credit report for errors

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One fast strategy to raise your credit score is to check your credit report for any inaccuracies that may be affecting you.

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4. Ask to have negative entries that are paid off removed from your credit report

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You may have a history of late payments on your credit report, or an old collection account that has already been paid off may still be shown.

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