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The Reasons Why We Love Highest Credit Score Possible | highest credit score possible

If you are trying to determine how to get the highest credit score possible then keep reading. There are a lot of ways that you can increase your score. The higher number that you have the better off you will be in the long run. To find out what your current score is you can get a free online credit report from one of the three major credit reporting bureaus: Equifax, TransUnion, or Experian. You can order a copy of your free annual report at any time from each one of the three agencies. Here are a few tips on how to raise your score so you can qualify for the best possible interest rates.

Never stop paying your bills. By not paying your bills on time you are setting yourself up for high credit limits that will only get higher if you continue to pay your bills late. The highest credit score possible is 850 with the FICO formula. But any score above 740 is considered good and puts you well into the black circle where you will qualify for the best possible interest rate on mortgage loans, credit cards, and other types of credit accounts.

Get a copy of your credit reports and scores from each of the three credit-reporting bureaus once per year. The most important thing to remember when working on the highest credit score possible is that your credit history reflects everything that lenders will look at. So it is critical that you check your reports for mistakes and make sure everything is correct. It may seem like a lot of work but doing this yearly will save you more time in the end as well as money in penalties for late payments.

Watch for errors and omissions. Because the credit bureaus do not share information, it is not easy to know what you are missing. If you notice any errors or omissions make a note of them right away. The three major credit bureaus are not perfect, so there are bound to be mistakes and omissions.

Pay off debt and other bills in good order. If you have a lot of outstanding credit card bills then paying them down is the number one way to guarantee that you have the highest credit score possible. The credit bureaus will penalize you if you are not paying your bills on time, which will lower your score. Paying off your credit card bills and other bills in good order also has the added benefit of improving your credit rating.

Only keep one credit card and use it for purchases. The number one mistake that people make when it comes to their credit cards is that they end up having too many credit cards. Having numerous credit cards will not improve your highest credit score possible. Keep your limit small and stay within your monthly limits.

Don't be an authorized user on any accounts. Being an authorized user on a personal account will hurt your score. You should only be authorized on one account, as many people are not even aware that they are being monitored by the credit bureaus. The less people that know that you are monitoring their credit history, the better off you will be. If you have excellent credit history and multiple credit cards then you are in the clear because you will not be a risk.

Take a look at your credit reports often. Your credit scores are affected by a lot of different things, such as your current debt load and any recent bankruptcies that you may have. It is important to know that these items can and will affect your scores, so it is smart to check them frequently. The more you check your credit reports, the more informed you will be about your financial situation.


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