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  1. #1
    futuremd59 is offline Junior Member
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    How to improve your credit score - transunion

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    Improving Your Score


    How can I improve my credit score?

    The first thing you can do is to review your TransUnion Credit Profile for areas that may provide opportunities to improve your score over time. If you find any information that you believe to be inaccurate, contact TransUnion and/or your lender(s) to request an investigation. Resolving the issue may have a positive effect on your credit score.

    The best way to improve your credit standing is to establish responsible credit behavior and keep it up over a long period of time. For many people, it means changing how they view and handle credit, which could involve breaking bad credit habits and establishing good credit habits.

    There are no quick fixes, but here are some DOs and DON'Ts to help you get started.

    DO:

    Pay your bills on time
    Late payments and accounts that go to collections agencies can have a major negative impact on your score.
    Get current and stay current, especially if you have missed payments
    The longer you pay your bills on time, the better your score.
    Keep balances low on credit cards
    High outstanding debt can affect a score.
    Pay down debt rather than moving it around
    Switching balances to different cards or consolidating debt into fewer accounts aren't nearly as effective as simply paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
    Shop for a your loan within a focused period of time
    The FICO score distinguishes between situations when a consumer may be applying with several lenders to compare rates (when you're looking for a car loan for example), from opening numerous new accounts (which may indicate poor financial health). The score compares the length of time over which inquiries occur. Shopping for car loans, mortgage loans, etc., usually occurs in a comparatively short period of time.
    Re-establish your credit history
    If you've had past credit problems, opening new accounts responsibly and paying them off on time will raise your score in the long term.
    Manage credit cards responsibly
    In general, having credit cards and installment loans (and making timely payments) will raise your score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.

    DON'T:

    Close unused credit cards as a short-term strategy to raise your score
    Note that closing an account doesn't make it go away. A closed account will still show up on your credit report, and may be considered by the score.
    Open a number of new credit cards that you don't need just to increase your available credit
    This approach could backfire and actually lower your score.
    Open a lot of new accounts too rapidly
    If you have been managing credit for a short time, new accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.

    If you're having problems making ends meet, contact your creditors or a legitimate credit counselor.

    This won't improve your score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

    THIS INFORMATION WAS TAKEN DIRECTLY FROM THE TRANSUNION WEBSITE IN WHICH I PERSONALLY REVIEWED MY SCORE AND CREDIT REPORT. FOR $12.95 YOU CAN DO THE SAME THING. 8)
    https://www.transunioncs.com/TCSWeb/...amp;loc=100001

  2. #2
    wolfvgang22 is offline Moderator 514 points
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    fico

    The score they give there is the real FICO score, too, not some useless fake score.
    Saba University School of Medicine, Class of 2009
    Diplomate, American Board of Psychiatry and Neurology

  3. #3
    IndianBabu's Avatar
    IndianBabu is offline Senior Member 510 points
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    thanks

    Thanks for this informative post, much appreciated!


    IndianBabu
    SGU SOM, Class of 2009
    An ex-samosa technician with a big heart from Canada.

  4. #4
    mickbali123 is offline Newbie 510 points
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    Hi, This is mickbali from USA.
    I am new in this field of credit score so please gave me idea of improving credit score..

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