Top Ten Credit Score Boosters

Credit score boosters are things that you can use to improve your credit scores. Your credit score is not only the numerical expression of your credit files, it represents your credit worth based on the information in your credit report. This is typically sourced from credit bureaus. You can use the following tips as credit score boosters:

 Pay on time: Negative items posted on your spotless credit score have a greater impact than those on a credit report which already has a history of late payments. For example, if you have a perfect credit rating and you are late to pay your car loan by, say a month, then the effect could be as great as a negative 25 to 60 points on your credit score.

 Removing the errors in 2 business days: You can be rest assured this is the fastest way to rectify errors on your credit report and increase your credit score. Hence, this acts as a credit score booster. However, you can only do this through a bank or a mortgage company.

 Deleting your negative credit: This is one of the most effective ways and acts as a great credit score booster. All you need to do is write a letter of dispute to the concerned authority to check credit. They have reasonable time, usually 30 days, to get back to you.

 Don't use finance companies: You need to know that the scoring system guys frown on finance companies. Never use finance companies for your credit repair.

 Use your credit cards: Your scoring model on your credit report takes into account how long it must have been since a certain account has been used. Credit lines which are used (assuming that they have paid in a timely manner) impact your credit score positively. Paying helps your FICO score. This acts as a credit score booster.

 Don't take any new credit: You must keep in mind not to take any more credit. Don't take any more credit on your credit card unless absolutely necessary.

 Different credit types: If your credit report shows different types of credits handled, you are rewarded with a great credit score. This is a great credit score booster.

 No bankruptcy or foreclosure claim: These will show on your credit report for 10 years! These will always reduce your credit score. The older they are, the more impact they have on your credit score.

 Pay your debts: This may seem obvious to you. But, it is not as simple as you think. You must never pay your revolving debt on time. Keep on paying it slowly. This demonstrates your ability to swiftly pay off accounts to avoid managing them. This will decrease your credit score slightly.

 Increase your credit card limit: High credit limits will help you to remove debt ratios, thus positively impacting your scores.

Thus, the above guidelines and steps will definitely help to improve your credit score and serve as credit score boosters.