100 WAYS TO ZOOM YOUR CREDIT SCORE BY 400 POINTS

THERE ARE 100 WAYS TO ZOOM YOUR CREDIT SCORE BY 400 POINTS.A FEW ARE DISCUSSED AS FOLLOWS
HOW TO ZOOM YOUR CREDIT SCORE BY 400 POINTS.

A higher credit score can definitely make life easier for you. All it takes to get that perfect score is a little bit of planning and effort  on your part.Following are the steps that if followed can definitely raise credit by 400 

points.

YOUR PAYMENT PATTERN

This is one of the most important factors that contribute in getting a high credit score. In computation of credit score, it accounts for nearly 35%.Your payment record need to be very timely .You need to have a long record of making timely payments on your credit card bills and also from your other accounts. You cannot afford to have even one late payment as it can bring down your credit score by nearly 100 points.

Any kind of negative mark on your credit report such as bankruptcy, lien, and charge off can have a very negative impact on your credit score. So to get that perfect high credit score you need to have a very clean record of making your bill payments on time.

KEEPING YOUR DEBT UNDER CONTROL

In order to get that high score, you should try to use all your credit cards regularly and make timely payment of credit card bills on time. This helps in creating a positive mark in your credit reports. But at the same time you should not use your credit limit excessively as this creates a negative impression to the lender. You should limit the use of your total credit limit to 10% on each of your credit cards.

For example-If the credit limit assigned to you on your credit card is $,23000,you should not use more than $2300 .Try to reduce your spending on your credit card or get an increase in your limit to improve your credit card debt.

STABILITY IN MAINTAING YOUR CREDIT OLD ACCOUNTS

To get an increase in your credit score, it is very important to get more credit for your credit history. All your credit card and loan accounts should remain open for nearly 8-10 years. Do not close your old existing accounts even if you are not using them and try avoiding new accounts. The age of your accounts can go a long way in moving up your score.

DEVELOP A VARIETY OF CREDIT

In order to get an increase in your credit score, it is very important to have a mix of revolving credit and instalment loans. This particular factor counts for nearly 10% of your credit score. You can have 2 revolving loans for every instalment. Having a diversity of credit accounts is considered to be a mark of stability and credit responsibility by the lenders. You can have 1 home loan,1 credit card ,1 auto loan or have 1 loan and 1 one credit card. It is very important for your credit account to remain active.

CREDIT INQUIRIES

Credit inquiries account for nearly 10% of your credit score. Any kind of inquiry for application of new credit can bring down your credit score fast and damage it completely..If you aim at getting a higher credit score,you should avoid applying for any form of new credit (credit cards,loans,)at all costs.