Don't know how this will go over but I think it would be helpful to people if we could give some advice on how to improve our credit scores. I'm sure we know how important it is.
Anyway, i will be the first person to post mine up here. Perhaps some of you could do the same and we can get a little better Idea on what "Really" improves your credit score the most, more than just pay your bills on Time and things like that.
Well My Credit Score is 662.
Here are the Things hurting My Credit Score:
Total account balances are too high in proportion to credit limits:
Consumers having high balances on accounts in relation to the credit limits are more likely of future delinquency.(I do have some high balances which are quite close to My limit. It's a lot better now than it was last year, But I do have some credit card debt.)
Your credit report reflects one or more accounts with a derogatory payment rating or a public record such as a civil judgment, bankruptcy or tax lien( I got a parking Ticket in Philly last year and I never paid it. Damn, I wish i would have known they were going to send it to collections. it was only 20 snaps.)
Too few mortgage accounts:
Not enough mortgage account activity has a negative impact on your credit score. ( I guess not havaing a house "lowers" my credit score. This is news to me.)
Also Not specifically mentioned, I did have some 30 day late payments around 2 years ago which are still present on there. Obviously that's not a good thing.
I also have 3 current car Loans which IMO might be bringing down my score or atleast not helping with trying to get new credit, But I got enough as it is.
It also states that 46% have a lower score than me putting me below average.
So that's about it.
I know it's been posted before but you can check you credit score once- a-year for free for each one of the 3 bureaus at
www.annualcreditreport.com.
My opnion, check one every 4 months instead of doing them all at the same time. This way you can review periodically for free.
The actual score will cost about 6-8 bucks depending on who you go with.
I just did TransUnion and it ws $5.95.