Boost your Credit Score

Increasing your credit score is the best way to start improving your debt situation and getting rid of your bad debt.  Most lenders have strict rules about who and how they hand out the best mortgage and loan interest rates.  If you are just a few points shy of their "hurdle rate", these few points could cost you thousands of dollars....lets get GOING on getting boosting your credit score.

A) Pull your credit report to see where there may be errors or factors that can be improved.  Look for such things as late payments that were actually on time, debts paid off that have not been removed from your bad credit rating...etc.

B) Pay down balances on CREDIT CARDS.  Bad Credit card debt  looks extremely negative on your account and has a very high interest rate.

C) Even out the balances on your cards so that no one card is maxed out.  Do a balance transfer on your credit card

D) Pay your bills on time!  Lenders want to see ontime debt payments.  A good records indicates a strong

E) Don't open any new accounts near the time you need to get mortgage refinancing.  If you have bad mortgage credit or a bad credit loan, visit your advisor before to see if there is anything in particular they might be looking for in improvements.

F) Don't close any unused accounts.  Closing down your "unused" credit lines has the effect of increasing the "utilization ratio" on your loans.  Getting rid of this room makes it look like you are maxing out your credit cards!

Next...get the tools to help you fix your bad credit rating!