Steps to improve your credit score



Just a improvement in your credit score can provide you with a great interest rate instead of a mediocre one.

Greg McBride, Senior Financial Analyst,

"The difference of a few points on your credit score may seem inconsequential, but the thresholds matter. If you're on the wrong side of one of those important thresholds -- like say you're just shy of a 700 credit score -- it can not only impact the price you pay for credit, it can also impact your ability to get approved for credit in the first place."

Here are some easy tips to boost your score to qualify for the best interest rates.
First off, you need to know what your score is. If you don't know it, you can register online at one of the sites now offering your credit score for free or use a score estimator like the one on

Next, check your credit report for anything out of place; things like old, paid-off debts still being reported, accounts that aren't yours or late payments that were, in fact, made on time. Contest these items with the credit bureaus to take these negative strikes off your record.

Still, you can't hide credit bumps and snags that are true. But you can show that you've gotten better with credit by making your payments early or on time and paying down loan balances.

The one thing you should never do when trying up your score is close unused accounts. It can lower your available credit, and can shorten your average account age, both of which are bad for your score. You don't want to look like a credit newbie.

Other quick tips are to transfer some balances on cards that are almost maxed out to some of your less utilized cards. If you're looking for a way to beat the system, check out your credit report for the day of the month creditors report your debt, then start making payments a few days before then. By paying down your cards each month, it will look like you're never carrying a balance.

Follow these tips and you should see your score grow and your interest rates for new products shrink. For more on boosting your credit and to shop for the best interest rates on a variety of products, check out I'm Lucas Wysocki.

Find your free credit score at


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Product Rate Change Last week
Balance Transfer Cards 16.24% --0.00 16.24%
Cash Back Cards 16.48% --0.00 16.48%
Low Interest Cards 11.27% --0.00 11.27%
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