It's All About a Better Credit Score

That's what it seems anyway. Everywhere you turn you're hearing that a credit score isn't just about getting sweet deals on credit card APR. No, it's even about getting a good job! So, a credit score not only affects your debt, it can affect how you pay off your debt. That makes your credit score - and better yet, improving it, never more important.

So, you want to know how you can get started improving your credit score? Read on MacDuff!

• Reduce balances - Admittedly, easier said than done. BUT, when you do it, the benefits are immense. Creditors prefer a card to have no more than 30% of its limit on it as a balance. So, let's say you had a preferred card because it offered you bonuses or travel miles, and so charged that one like crazy. Well, you would be wise to transfer some of that balance to other cards that have nothing on them or very little. It's better to have your debt spread out fairly evenly across a few cards than piled up on one. And of course, actually paying down balances is even better. So, if you can afford to do that, do it.
• Request a credit report- Thanks to recent federal legislation, everyone, including you, is entitled to a credit report from each of the major reporting agencies each year. What good is that? you ask. Well, for starters, you know where you stand. And, after that, you'll know if anyone has been posing as you and destroying your credit rating. Also, you'll know if there are any errors on your report. Maybe there's a bogus write-off from a department store that had you down for a $12 balance you never charged there. Well, if it was that low a dispute, they wouldn't bother contacting you. Instead they just write such things off. But guess what! It still makes you look bad. So, if you come across things like bad loans made in your name, in addition to calling the police regarding a possible identity theft, contact any creditor associated with a disputed item. These disputed items can be quickly dealt with and that will quickly improve the picture of your credit worthiness.
• Quit using your plastic- Credit card debt mounts for most people because it is so easy to use. And as long as you keep relying on it "for emergencies" (like an extra three days in L.A.?) you will continue to see your debt rising and your credit score falling. It's a lot easier to keep your eye on a fixed target than one that continues to move up and up.
• Consolidate your credit card debt! - Want something a little stronger, a little more one-fell-swoop for dealing with credit card debt? Then what you need to look into over and above all of the above is credit card debt consolidation. With one stroke of the pen (after filling out the proper application with a reputable debt consolidator), you will see ALL of your credit card debt disappear. Yes, you would then have another loan, but it would be at a much lower interest rate, and it would be one monthly payment that you could budget around, and with the ultimate goal of paying off your credit card debt completely.

So, do yourself a big favor. Take action on the above and get your credit score under control by getting your credit card debt under control. (And don't forget that magic bullet, credit card debt consolidation!)