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Three Best Ways to Maximize your Credit Score For anyone who wants to prosper in the long run, maintenance of very good or excellent credit scores is important. Along with good credit scores come lower interest rate home and car loans and access to job opportunities where employers hire only those employees with good credit scores. High credit ratings are an indication of your financial well-being. If you can maximize your credit scores you are well on your way to a financially secure life. There are several ways in which you can go about boosting your credit score. In this post you will read about the three best ways to maximize your credit score. Before I get into the ways, let take a quick glance at how your credit score is calculated. This understanding is essential in making the right and most effective decisions. How your credit score is calculated? Your credit rating depends on five categories.     

The first category, which contributes 30 percent to your credit score, is the amount you currently owe to lenders. The second category (15 percent) measures the age of your loans. The third category (10 percent) is decided by the number of inquiries you have. The fourth category (10 percent) takes into account the type of your loans – revolving or installment. The final and most important (35 percent) category looks into your payment history. Timely payments alone can give you a big boost here.

Three best ways: 1. Get personal credit coaching A lot of people overlook this option as if it does not exist; when in fact, a personal credit coach can be of enormous help if you are looking for a debt free life. A credit coach can teach your how to get started. A coach can help you shave off your debt, teach you the basics of budgeting, guide you on home and car purchases, ultimately leading you to a debt free life. 2. Always pay on time The most effective way to improve your credit score is to always pay all of your debts on time. One way to ensure that you always pay on time is to never use more than two-fifths of your credit limit. This simple rule of the thumb will go a long way in helping you. 3. Keep your account Balances low This just makes financial sense. Keep all of your credit card balances low. Try to pay off any balances well before your closing date so that the card issuer reports a zero balance to the credit bureaus.


There is no magic pill to maximize your credit score. All you need is an understanding of how your credit scores are calculated, expert guidance, and an unshakable will to boost your credit score. Reference: http://www.articlesbase.com/credit-articles/three-best-ways-tomaximize-your-credit-score-6912717.html

Three Best Ways to Maximize your Credit Score  

For anyone who wants to prosper in the long run, maintenance of very good or excellent credit scores is important. For more information visi...

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