Secrets to Building a High Credit Score

By Tony Banks

The advantages of having a high credit score are many; first of all you will have access to cash on demand. You will be able to walk into any lenders office and walk out with as much money as you like for things like cars, credit cards and home loans. In this article I will go over the secrets to building a high credit score.

The first step to getting a high credit score is taking care of any negative accounts on your report or accounts that may be about to affect your credit report in a negative way. This will involve taking a good look at your credit report and challenging items such as collection accounts, late payments, charge-offs and other derogatory items.

It is important to know that in terms of the credit score formula, a lot of emphasis is put on accounts that are the most recent this is why you want to stop new negatives from appearing on your reports. You might have to settle with collection agencies or get caught up with past due bills to stop the damaging effect they will have on your credit scores.

Once this has been taken care of, the secret to building up your score to a high number would be to create a long history of timely payments on your credit reports. A high credit score means that you were able to take out credit accounts time and time again and pay off the balance without missing payments or defaulting on the loan.

The only way to do this is by keeping accounts in good standing for a period of time. It does require some effort but well worth the effort in the long run.

Visit do-it-yourself-credit repair or credit repair services to learn more on raising your credit score 200+ points to get approved for car, home and credit card loans.

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