Increasing your credit scores just takes a bit of discipline to get your numbers correct and the right trade lines going.
What Credit Scores Consist Of
- 35% Debt History – To see if you are making your payments on time
- 30% Debt Weight – How much debt you’re carrying and at what percentage to your total credit limits.
- 10% New Credit – Too much new credit can hurt your scores
- 15% Length of Credit – How long you’ve had credit with companies
- 10% Credit Mix – To see if you have a good mix of credit (credit cards, installment loans, mortgage, etc.)
To Improve Your Credit Scores Make Sure to Concentrate on Debt History and Debt Weight
Debt History
- The last 24 months are super important. You need activity and you need to stay current for 24 months.
- Collections will drastically affect your credit score so pay them as quickly as possible. Medical bills don’t count against your score.
- Make sure to be using 3 trade lines for mortgages and 2 for most other loans or credit.
- Check this all out at www.annualcreditreport.com. No cost!!! Pull all 3 of your credit reports. We will examine your credit reports for you at no charge.
- Certain credit bureaus matter more based on where you are located in the United States
- If you live in the Midwest then concentrate on your Experian score
- TransUnion if you live out West
- Equifax if you live in the South
Debt Weight
- Keep credit cards and credit lines lower than 30% of your credit limit. If you are above 30% then you need to get those paid down as quickly as possible. The best way to pay these down or off is to lower their interest rates and credit counseling companies like A Debt Coach can help you do this by negotiating with your creditors for you!
A Debt Coach offers credit counseling services to people who are experiencing credit and debt problems! We create customized plans with your budget in mind and deal directly with your creditors. No gimmicks, no funny business! Both the Government and your creditors are happy that we are here to help you solve your financial problems.
Contact us (888-767-9155) today to get started!
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About A Debt Coach
A Debt Coach is a Non-Profit Credit Counseling Agency that helps consumers find options available for the financial problems they face. We offer credit counseling services to clients across the country who are experiencing credit and debt problems. A Debt Coach offers one of the most beneficial debt consolidation programs in the nation and we have provided counseling and advice to more than 200,000 consumers since 1992.
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Did you know that A Debt Coach provides free financial education and advice? We provide advice so that people can get their lives back in order! The free education starts by downloading our free “Own Your Life” ebook.
Everyone who downloads the book will be approached to start the “Budget Bootcamp” with Randy after you read the book! Randy will help you create the best budget for your situation and put you on a glide path towards being totally debt free!