Comments on: Improve Your Credit Score in 5 Simple Steps http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/ Money Tips for a Better Life Thu, 17 May 2012 16:08:14 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: What is a Good Credit Score Worth? | Money Smart Life http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-198820 What is a Good Credit Score Worth? | Money Smart Life Fri, 09 Dec 2011 14:35:42 +0000 http://moneysmartlife.com/?p=1590#comment-198820 [...] that you may not be able to get a loan at all. So how can you build up your credit history to improve your credit score if no one will give you a [...] [...] that you may not be able to get a loan at all. So how can you build up your credit history to improve your credit score if no one will give you a [...]

]]> By: Free Credit Scores – Coming Soon | Money Smart Life http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-192657 Free Credit Scores – Coming Soon | Money Smart Life Thu, 20 Jan 2011 16:02:02 +0000 http://moneysmartlife.com/?p=1590#comment-192657 [...] course, the credit score itself won’t give you the detail behind what you need to do to improve your credit score.  There are paid tools you can use from myFICO, Experian, Equifax, and TransUnion that will [...] [...] course, the credit score itself won’t give you the detail behind what you need to do to improve your credit score.  There are paid tools you can use from myFICO, Experian, Equifax, and TransUnion that will [...]

]]> By: Doable Finance http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-189016 Doable Finance Mon, 20 Dec 2010 14:46:22 +0000 http://moneysmartlife.com/?p=1590#comment-189016 Items 3 and 5 may turn out to be detrimental to your financial health. Any time you open a new account, the lender checks your credit score. By default, just checking it will lower your credit score by at least 75 points. It is highly advised to have no more than 2 credit cards. The store card is very tempting because it might give you discount the first time you use it. But the store does not just give it to you. It checks your credit score and that automatically lowers your score by at least 75 points. Item 2 is also objectionable. If you have a credit card and you don't use it for longer period of time, that hurts your credit score as well. By how much? Depends on how you have previously used it. It takes time to improve your credit score. Follow the basic mantra of "Spend less than you make" and you will be on the path of worry-free financial life. I said on the path of. Your credit gets ruined by being careless with your credit and it can happen in a shorter period of time. To improve it will take more than you can wait. I use two cards - MC and Amex. MC for shopping and AMEX for gas and travel. Items 3 and 5 may turn out to be detrimental to your financial health. Any time you open a new account, the lender checks your credit score. By default, just checking it will lower your credit score by at least 75 points.

It is highly advised to have no more than 2 credit cards. The store card is very tempting because it might give you discount the first time you use it. But the store does not just give it to you. It checks your credit score and that automatically lowers your score by at least 75 points.

Item 2 is also objectionable. If you have a credit card and you don’t use it for longer period of time, that hurts your credit score as well. By how much? Depends on how you have previously used it.

It takes time to improve your credit score. Follow the basic mantra of “Spend less than you make” and you will be on the path of worry-free financial life. I said on the path of.

Your credit gets ruined by being careless with your credit and it can happen in a shorter period of time. To improve it will take more than you can wait.

I use two cards – MC and Amex. MC for shopping and AMEX for gas and travel.

]]> By: 3 Ways to Improve Your Credit in the New Year « Cash Flow Sherpas | A Personal Finance Blog By GreenSherpa http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-188652 3 Ways to Improve Your Credit in the New Year « Cash Flow Sherpas | A Personal Finance Blog By GreenSherpa Thu, 16 Dec 2010 17:54:07 +0000 http://moneysmartlife.com/?p=1590#comment-188652 [...] New Years resolution that can really pay off for your financial health is to improve your credit score.  Often times a bad credit score can be attributed to bad money habits. The New Year is a good [...] [...] New Years resolution that can really pay off for your financial health is to improve your credit score.  Often times a bad credit score can be attributed to bad money habits. The New Year is a good [...]

]]> By: 8 Ways to Save Money on Auto Insurance | Money Smart Life http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-182880 8 Ways to Save Money on Auto Insurance | Money Smart Life Mon, 27 Sep 2010 12:30:38 +0000 http://moneysmartlife.com/?p=1590#comment-182880 [...] Unfortunately you can’t buy insurance for your credit score. And, fair or not, having a poor credit score can raise your insurance rates since some companies are using it as a factor when determining your risk. Here are some tips on improving your credit score. [...] [...] Unfortunately you can’t buy insurance for your credit score. And, fair or not, having a poor credit score can raise your insurance rates since some companies are using it as a factor when determining your risk. Here are some tips on improving your credit score. [...]

]]> By: deb http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-181261 deb Sat, 04 Sep 2010 03:14:15 +0000 http://moneysmartlife.com/?p=1590#comment-181261 I just wanted to know if it is possible for a collection agency to remove a debt from your credit report completely, once you have paid the debts owed? Thanks, Deb I just wanted to know if it is possible for a collection agency to remove a debt from your credit report completely, once you have paid the debts owed?

Thanks,

Deb

]]> By: Nick http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-179056 Nick Tue, 20 Jul 2010 19:31:47 +0000 http://moneysmartlife.com/?p=1590#comment-179056 Wow! Some of these tips seem very counter intuitive. I never would have realized that getting more credit and more diverse credit are good things for your credit score. I am just learning about credit and i found another article that discusses the 5 ways to damage your credit score I thought that the contrast between the two articles was interesting. Thanks for the advice :) Wow! Some of these tips seem very counter intuitive. I never would have realized that getting more credit and more diverse credit are good things for your credit score. I am just learning about credit and i found another article that discusses the 5 ways to damage your credit score I thought that the contrast between the two articles was interesting. Thanks for the advice :)

]]> By: Kristie http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-149324 Kristie Mon, 18 May 2009 13:10:11 +0000 http://moneysmartlife.com/?p=1590#comment-149324 Thank you for your response. I am a former mortgage and credit specialist for Merrill Lynch. During my six year career, I helped thousands of clients with the credit and debt side of their balance sheet. So to answer your question, yes, I have studied the formula and know a great deal about it. Obviously, you have not, so please let me know if you have any further questions or concerns, Thank you for your response. I am a former mortgage and credit specialist for Merrill Lynch. During my six year career, I helped thousands of clients with the credit and debt side of their balance sheet. So to answer your question, yes, I have studied the formula and know a great deal about it.

Obviously, you have not, so please let me know if you have any further questions or concerns,

]]> By: bb http://moneysmartlife.com/improve-your-credit-score-in-5-simple-steps/comment-page-1/#comment-149118 bb Sat, 16 May 2009 19:55:02 +0000 http://moneysmartlife.com/?p=1590#comment-149118 Man, number 3 and 5 are stupid. Have you studied enough about the formula? Man, number 3 and 5 are stupid. Have you studied enough about the formula?

]]>