Millions of Americans have experienced one or more blemishes on their credit report at one time or another that caused them to lose points off their credit score, and most of the time they just learn to forget about it and move on.
But what if you’re not one of those people who likes to forget about everything? What if you’re the type of person who wants to know how to increase your credit score to get you back to where it was, and you’re willing to put in a little work to make it happen? That is a very wise and intelligent choice.
The fact is that not all derogatory information automatically leaves your credit report over time, but you can help in that process by knowing the steps to take to get the job done. We’ll talk about one of those in a bit, but first I want to point out that you’ll find some amazing resources at the end of this article. There you will find a site that will present an easy to follow step by step game plan to increase your credit score and save you lots of money. You owe it to yourself to take a look.
Ok, now for some tips…
No matter what the reason for your credit problems, you need important information so you can learn how to deal with it now. When you follow the plan outlined on the site below, you’ll learn how to increase your credit score. But this time you want to know some insider secrets that will help you not only fix and repair your credit, but also what to do to stay out of harm’s way in the future, right? First you’ll want to sort your report to find out what’s in it, and then you’ll want to know the importance of each and every report element so you can master it. So that’s the first step.
Once you have learned and understood the content of your report, the next step is to make sure that your report is accurate. One of the fastest ways to get some extra points is to remove “out of date information” from your report. As mentioned earlier in this article, not all derogatory items automatically disappear from your report over time.
What is outdated information?
Any negative information that is older than 7 years on your Credit Report is outdated information. This includes revolving, installment, and mortgage accounts. The exceptions to the 7-year rule are federal and state tax liens and bankruptcy, which can stay on your report for up to 10 years, while unpaid tax liens can stay on your report indefinitely. Credit inquiries of any kind cannot remain on your report for more than two years. Review your report for outdated negative information and follow the steps outlined in the resources listed here to remove it. You’d be surprised at how much outdated information is reported, but you should know what you’re looking for and how to remove it.
Once the outdated information is removed, you now have a more accurate report and can expect to improve your credit score by a few notches. It may not sound like much, but it’s quick and easy, and a few points can sometimes make a world of difference in the terms a lender offers you. As an example, I had a client with a credit score of 699. If he had had one more point, giving him a score of 700, he could have saved $7,950.00 over the life of the loan. Fortunately, there were several things this client was able to do, once he learned the techniques, to increase his credit score and get a much better rate.
Outdated information is one of the many topics you’ll learn about when you visit the sites below. In fact, you will learn exactly what needs to be done and how to do it. The techniques are very powerful!
Learning how to increase your credit score isn’t rocket science, but you do need to make sure you’re taking the right steps to get the results you want. Not taking any action and ignoring the situation can further push away the desired result, and that’s the opposite of what you want to do, right?
