Good fico score tips, fix your credit report and increase your fico credit scores. Here is a short list of 5 tips to help improve a below average fico score. Check them out.
A high fico score is important today, whether you need a loan, a credit card, or a mortgage for a house. In fact, even employers are taking a look at fico credit scores before hiring employees.
The average fico score is about 650 these days, but the fico score ranges between 300 and 850. Since this score is so important and affects so many parts of your life, raising fico scores is important. Learn more about this score and great tips that can help you increase your score.
Fico Score Ranges
Before taking a look at raising fico scores for a good fico score, it's important that you understand a bit more about fico score ranges. The highest score you can achieve is 850, although it is very rare for someone to have a score that high. The lowest score is a 300.
Usually people fall somewhere in the middle. Fico score ranges between 700 and 850 are considered good to excellent. The range of 600 to 700 is considered to be fair. In most cases, scores that are less than 600 are poor scores, making it more difficult to obtain credit.
Fico credit scores affect you in so many ways, so it is in your best interest to have a high fico score. Even if your score is low, there are methods of raising fico scores that you can use to increase where your score falls in the fico score ranges. To help you increase that score, here are a few tips you need to follow.
Tip #1 - Get a Copy of Your Credit Report - The first tip to remember if you're interested in raising fico scores is to get a copy of your credit report. You need to know where you are currently standing. Do you have an average fico score, a poor score, or do you already have a good fico score? Find this out so you can then know what you are working with.
Tip #2 - Check for Errors and File a Dispute - Once you have a copy of that credit report and you have seen your fico credit scores, it's important to check for any errors. If you find errors, you need to file a dispute so you have the error removed or corrected on your report. Sometimes errors can keep you from having a good fico score.
Tip #3 - Pay On Time - Simply paying your bills on time can help you with raising fico scores. You can increase your score drastically by paying on time for three months in a row. Keep this up and you'll continue to raise the score.
Tip #4 - Avoid Applying for New Credit - When you apply for new credit companies will do an inquiry, which will show up on your credit report. If you have a lot of inquiries, this can lower your score. Avoid those inquiries as much as possible.
Tip #5 - Lower Accounts with High Balances - If you have accounts that have high balances, work to lower those accounts. Pay down the balance, which can free up credit, improving your fico credit scores.
It is possible to have a good fico score. With these tips, you can increase your score. With a higher score you'll have an easier time getting a loan, an apartment, and scoring great interest rates on credit.
You can improve your credit score and repair your bad credit easily, but a lot of patience and guidance is needed to get your FICO score to a normal level again.
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