How To Repair Credit Report On Your Own

Your credit score is based on your past financial responsibilities, past payments and credit. Your credit score lets the lender to know how much of a credit risk you are. If you have a lot of debt your credit score will suffer. Following are the tips to repair credit report on your own.


Paying down your debts to a minimum amount/level will raise your credit score:

Say for example you have $1000 limit on your credit card and if you carry the amt of 900 you will be a less attractive person in the eyes of lenders. They will be looking for the person who has the same credit card but at the same time carries a smaller balance of 100 or so

Concentrate with the large debts:

If you have a desire or wish to improve your credit score then concentrate in the largest debt you have. If you start paying down the largest debt means you are using a less large percentage of your credit total

Use more than 50% of your credit:
Always make sure that you use more than 50% of your credit. Means if your credit card has a limit of 5000, make sure that you pay 2500 with out larger balance.

Try to reduce the debit more:
If you are able to pay off your credit card full in each month it is better. Your credit score will attract the eyes of the lenders and they will start trusting you financially.

Lower the better:
The % of total credit limit, which you are using, plays an important role in paying down your debts. Lower the debts better your score.

Cheers,

Johncy Edward

Your Trusted Credit Score Guru/Credit Repair Guru