A credit score follows a person wherever they go and cannot be escaped; although fast cash advance loans do not require a credit check. It makes sense for anyone to keep their credit score healthy in the event of an emergency or an opportunity to start a business.
There are many other reasons to maintain a perfect credit score, especially for people who plan on buying a home or want to move into an apartment. Low scores under 650 are red flags to lenders while high scores near 850 attract the greatest amount of flexibility and benefits when it comes to bank loans.
Follow these 10 easy tips to achieve a perfect credit score:
1. Request a Copy of Each Credit Report
• The three credit bureaus are TransUnion, Equifax and Experian.
• An individual is entitled a free report from each of the credit bureaus once a year.
2. Look for Errors
• One in four individuals had credit report errors in 2013, according to the FTC.
• Check for typos, proper credit limits and anything that appears to be fraudulent.
3. Keep Bills Current
• Make full bill payments on time as late payments of 90 days or more can have a negative impact.
• The biggest part of credit score involves payment history.
4. Avoid Opening Multiple Accounts at Once
• Each new application for a credit card results in a credit check and if it is declined it can lower the score.
5. Reduce Hard Inquiries
• Hard inquiries involving car rentals and big ticket items can adversely affect a credit score.
6. Keep Credit Utilization Rate Low
• Nearly a third of credit score involves credit utilization, which needs to stay between 1 to 20 percent.
7. Request Higher Credit Limits
• Utilization rate can be lowered by requesting higher credit limits.
8. Lower Debt-to-Credit Ratio
• Cut expenses as much as possible.
• Use fast cash advance loans to pay off debts.
9. Keep Old Credit Cards Current
• Since about 15 percent of a credit score involves credit history, keep old accounts open.
10. Use Credit Cards
• Keep credit cards active to avoid a diminished credit score.