In a Hurry? Get your Free Credit Report
here.
Did you know that the average US credit score is around 680? Having a high credit rating can give you lower rates on credit cards, car loans and even your mortgage. It's important to know the top factors that affect your score and check your credit report at least once a year for accuracy.
1. Pay Your Bills on Time
The most critical factor to a potential lender is whether or not you will pay all of your bills in full and on time.
2. Have Multiple Forms of Available Credit
Multiple forms of credit, such as a home mortgage, home equity line of credit, credit cards that are in good standing, can show that you are responsible for paying back both large and small financial promises and that you do not pose a significant credit risk.
3. Keep Credit Accounts Open
It is usually a bad idea to open up a credit card account in response to some type of free offer or incentive and then close it right away. The longer your credit history, the higher your credit rating tends to be. Even if you have a credit card account that is fully paid off and not in use, keep the account open - it CAN help your credit score.
To see all of the factors that affect your personal credit score, you should be familiar with your credit report by going online to
GoFreeCredit.com. GoFreeCredit.com gives you instant access to a free detailed, personalized analysis of your credit report with advice on how to improve it. Checking your own credit report at GoFreeCredit.com will not hurt your score.
Your report from
GoFreeCredit.com will show you details like accounts with past late payments, the various types of credit you've used, current balances and recent requests for credit. You also have the opportunity to fight negative or wrong information on your file. GoFreeCredit.com can refer you to a reputable credit repair service if you need it.
GoFreeCredit.com also provides a free trial of a credit monitoring service so you can receive automatic notifications of changes to your account. It's a hassle-free way to keep an eye on your accounts if you're trying to improve your credit.