How To Avoid Having To Repair You Credit By Joseph Feross At Isnare.com Ezine Articles

The average credit score of the average consumer is 692, on a scale of 300-692. Keeping in mind that receiving a “good” credit score means you have to rank above 700, you may be on the brink of having to start to start performing some credit repair of your own if you do not start paying attention to what you are doing that is damaging your overall score.

If you are at the 700 mark, then you are still safe, but you need to be aware of the factors that are determining your credit score so you can keep from having to perform credit repair in the future. Here are some useful tips that are built around the key ways you are scored, so if you are aware of them you can continue to keep your score in healthy shape, and maybe even help you raise it as an added bonus, even if you don’t need too!

The number one thing that weighs in on your FICO credit score (which is the gold standard) is how healthy your payment history is. Obviously if you are at 692 or 700 you are not so concerned with credit repair as you are with maintenance, so basically give yourself a pat on the back for a job well done. Keep paying your bills on time or early and remember, any bill you are late in will count against you, so make sure you continue to budget well.

Your outstanding debts are the second largest area you are scored against. If you want to prevent having to learn the credit repair practices, don’t take out any more credit cards or loans. If you are standing steady at that 700 line it means your debts are relatively expected in relation to what your maximum credit/debt allowance can be. There is no need to push the boundaries anymore.

Credit history is next, as the more credit history you have that is positive than you have created a positive log of your transactions. If you have proved in the past that you are able to pay your bills on time, and have even paid off your loans, you are a good candidate for another loan as you thus have proven you are responsible. If you do decide to take out another loan, make your payments in the same fashion and you will avoid the need for credit repair.

Finally, is how much new credit you have applied for? Believe it or not, every time you apply for credit, your request is transferred on to the credit bureaus. If you do not want to place yourself in the land of credit repair, you should not be applying for any new loans or credit cards unless you have to. Necessity does call though, which is only natural, but if you have to take out a new card or loan, make sure you shop wisely before you apply so you only have one application on record.

Getting into the situation where you have to perform intensive credit repair can get very ugly fast. Like everything else good in life, it is much easier to lose your credit score than to build it back up. Credit repair can be a long road back up, so practice healthy habits with your loans and bill payments, and keep the above tips in mind, and you should be able to keep yourself on steady ground.

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