We all know the importance of maintaining a good credit rating. We also know that the better your rating is, the better you will do when it comes to getting good rates on loans, credit cards and even gaining employment in some states. There are easy steps that can possibly increase your score 15-20 points in one day! That can make a big difference whether you are applying for a car loan, signing a condominium lease for Hilton Head rentals for a long weekend, renting a new apartment or buying your first home.

The five steps a based on the premise of paying attention, so it should be no major lifestyle change or burden.

1. “Check with your bank” to see if they have an auto payment program. You can set up the payment program to make the monthly minimum payment in order to avoid potential late fees.
2. “Get a copy of your credit report” so that you can see just what accounts are listed and where you stand on them
3. “Check for mistakes” because any error, no matter how miniscule, can have a devastating effect on your overall score.
4. “Resolve the errors” by contacting your lender and straightening out the problem before it begins to have negative effects on your financial wellbeing.
5. “Check your credit limits” you may be stretched a little too thin. If you are using over fifty percent of your credit, a quick solution may be to call a creditor and ask for a credit line increase thus lowering your debt ratio.

This entry was posted on Wednesday, July 30th, 2008 at 11:15 pm and is filed under Credit Improvement. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.