One thing you can and must do to improve your credit report score

admin — Thu, 09 Apr 2009 15:06:37 +0000

Paying your bills on time is the single most important thing you can do to raise your credit report score. Your payment credit history is weighted as 35% of your credit report score. A single credit card payment that is reported to the credit bureaus more than 30 days late can lower your credit report score by up to 100 points. The negative effect of a late payment declines with time but it can take years before becoming insignificant without cleaning it off your report.

Foreclosures, bankruptcies, tax liens, and charge-offs reported to the credit agencies also have a negative affect on your credit report score. In most cases these kinds of things occur beyond your control. Although you were not able to prevent the negative impact on your credit report score at the time they happened there may be things you can do now to get them off your credit report and out of your credit report score calculation. If any of these negatives are on your credit report and you need to fix your credit – do not give up. Later, we cover how you may still be able to do some credit restoration by deleting them.

How much you owe affects your credit report score…

How Can I Fix My Credit? » raise your credit report score

One thing you can and must do to improve your credit report score