Three Quick Tips To Help You Improve Your Credit By Roby Robertson At Isnare.com Ezine Articles

As a real estate agent, I deal weekly with clients that have minor to severe credit issues. Along the way, I have partnered with lenders and performed a lot of research on ways I can help my clients with credit repair. Granted when they I buy a home, I benefit. However, I have come to realize that bad things have happened to very good people and in most cases it is just sad but very fixable.

What is your credit score?

A credit score is the result of a mathematical equation that evaluates many types of information that are on your credit report. Lenders with whom you replied will usually review your credit and credit score along with other factors such as your likelihood and ability to repay debt.
Credit scores are often also called 'FICO' scores because most credit scores are produced from software based on a model developed by Fair Isaac and Company (FICO).

What makes up your credit score? Here is a break down.

The FICO score generally ranges from 300 to 850, and a higher score indicates a lower credit risk. FICO scores are calculated from many sources of information in your credit report, which is based on the importance of the following five categories for the general population.

35% Payment History
30% Amount owed on Accounts
15% Length of Credit History
10% New Credit (How many news one have been opened)
10% Types of Credit

What is NOT in your credit score?
1. Your race, color, sex, national origin, age, national origin.
2. Your salary, occupation, title, employment information or resident address.
3. Any interest rate charged on your credit card.
4. Any items such as family/child support, rental agreements,credit counseling participation.

In some cases, credit repair can be completed in 30-60 days with some minor credit cleanup. In other cases the credit repair can take months to restore to credit worthiness.

In my research I have compiled some quick hitter ways to help with your credit.

Here are THREE things you can concentrate on now to get things going in the right direction.

1. Write a letter to the credit reporting agencies stating that you want to opt out of all future credit card solicitations.

2. Don't let the balance on credit card get over 50 percent of the credit limit. (Meaning if you have a credit limit of $500 on your visa then keep the balance below $250)

3. Open a secured credit card and don't use it.

I think it is somewhat unfortunate but in many respects we are just a number and that number is our credit score! Access to money is so dependent on our credit score that we need to keep our eye on the ball as it pertains to it.

Your score can improve by managing your credit responsibly over time and following basic tips that are easy to find and follow.

If you are serious about credit repair, please don't give up. There are resources and products that will help get you educated on what to do and what not to do. The bottom line is that you CAN get things in order.

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