| Your personal credit report score largely determines | | | | they also considerspecific accounts. Maxing out any |
| the rates you canqualify for with most types of credit. | | | | account is seen negatively. It isbetterto spread that |
| The higher your score, thebetter rates you can get. To | | | | debt around to multiple accounts. Most advisors |
| find your score, you can request it from a credit | | | | suggesthaving no more than 30% to 50% of a line of |
| monitoring service or credit reporting agency. Most | | | | credit in use. |
| credit monitoring companies will provide it free with an | | | | Be hesitant to open a new credit card account though |
| introductory offer, but you will have to pay for it from | | | | if you areplanning toapply for a mortgage or car loan. |
| a reporting agency. | | | | Opening new accounts can alsotemporarilyhurt your |
| With hundreds of factors determining your credit | | | | score. |
| score, there are manywaysto improve it. The follow | | | | 3. Close Newer Accounts |
| three are the quickest ways to boost yournumbers. | | | | While you are looking at your credit report, consider |
| 1. Pay Off Short Term Debt | | | | closing some ofyourunused, newer accounts. The |
| The less debt you have, the better your score. | | | | more credit you have available, the lessnewcredit you |
| Actually, creditors lookatyour debt to income ratio. | | | | can get - even if you aren't using it. However, the |
| They also rate debt differently. So creditcardsare | | | | longeryouhave an account, the better your credit |
| seen as more negative that college loans or a | | | | score. |
| mortgage. | | | | One way to get around this is to close accounts, then |
| Focus on paying off short term debt first, like credit | | | | wait a couple ofmonths to apply for a loan. This will |
| cards. Payingoff theother debt can come later. | | | | give time for your credit scoretojump back. |
| However, having credit cards and | | | | There are no quick fixes to credit scores. Time and |
| makingregularpayments is better than having no credit. | | | | good credit habitsarethe surest ways of getting to |
| 2. Spread Debt Around | | | | good credit standing and low rates. |
| Not only do lenders look at your general debt load, | | | | |