A credit score is a numerical value that enables companies to know your credit worthiness. It is calculated by credit bureaus that keep a credit file of your credit history and is based on how you manage your finances. Managing money skillfully is an art that requires expertise to be flawless, but flaws are unavoidable and lead to lower credit scores. Collection accounts affect the credit score negatively and bankruptcy is often beyond repair. Smart money secret credit repair is here for all such instances needing repair of bad credit scores.
Smart money secret was created by a person who has been in the credit industry for far too long and knows the inside story. Smart money secret proclaims 100% success of attaining high credit scores in just a few months. It accounts for an increase in up to 100 points on the credit score within the first three months. It is always good to have an insider on your side. Why should you slog and suffer building your credit score over a long period of time when a high score can be achieved by diligence and tactfulness.
Credit scores are a quick reference for companies that offer you their services. Your credit score decides whether you will get that home mortgage, loan or credit card you applied for. It also decides the rate of interest that you will be charged. This might come as a surprise, but lately, even employers check on your credit scores to know your credit worthiness and to know if you are a keeper. Your credit worthiness will decide the kind of job and responsibilities that you get. Well, when so much depends on the credit score, it is a serious thing. A credit score takes into account your credit history too, that is, to say that your financial history will affect the credit score.
To maintain your credit score, approach the credit bureaus for at least a yearly credit report. At least three credit bureaus maintain your credit records and each offers an annual free credit report that you can avail at any time. Time these reports and arrange to collect and study one report in four months. Look for discrepancies and dispute them.
Create and maintain credit card accounts, but do not open too many at a time as this may raise questions from creditors. When finances are low, do not close them all too soon either. Keep them open and use them to pay recurring bills such as utility bills.
The older the credit account, the better it looks and scores on credit history. Don’t open too many young accounts at a time, as young accounts bring down the average score.
Make payments within the deadline regularly. This is the best and most solid way to maintain your credit scores. Even when you have enough finances, pay in installments within the deadline, while it may look like you are low on finances, it will gain you credibility.
Get a cosigner with previous credit cards to sign on your credit card and be a cosigner yourself too on others’ accounts, but be sure to make a written agreement with the said partner about the deal and mode of payment.