Make Your Credit Score the BEST it can Be!
It pays to have a good credit score. Many products and services you buy are price based on your credit score. Statistics show you could save as much as $30,000 in interest on a $100,000 home over 30 years, if your score in above 740 versus being under 640.
CentralAlliance wants to be your resource for good financial management, which includes making sure your credit score is the best it can be. Take a look at what goes into your credit score.
How to Maintain a Good Credit Standing
- Pay your bills promptly and be sure to pay at least the minimum amount required.
- Use only one or two credit cards and always know approximately how much you owe on each card.
- If you can’t make a payment on a bill, show your good faith by calling the lender to discuss the situation.
How to Clear a Credit Standing
To determine if you are a good risk, the lender will look at your credit standing by obtaining a credit report. To clear past credit problems:
- Get a copy of your credit report to identify problems. Go to annualcreditreport.com to obtain your FREE credit report.
- Have proper documentation and good explanations of problems or disputes.
- Go back to the credit company to correct any errors and provide explanations to future inquirers.
Common legitimate reasons for late payments include job layoff, illness and accounts placed for collection by health care providers.