How To Get A High FICO Or Credit Score

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There's a number that determinates whether or not you will get approved for a loan. This number is known as your credit score. Your credit score (or FICO score) is a 3-digit number that says a lot about you. You can easily increase your score by paying your bills off on time and if you can do that, you can finally make your dreams come true of getting the loans that you desire.

In today's society and economic climate, a high score is very important to have. Creditors and lenders want to know if you're financially responsible enough to pay them back for a loan, and the only way to determine this is by looking at your credit score. They have no idea of ​​who you are, they've never met you – so the only thing that they have to go by is your credit score.

If you have not been paying your bills on time and have been late recently, you will want to stop this bad habit. Not paying your credit card bills can be disastrous for your credit rating. Now is the time to rebuild your credit and to stay on top of things financially. If you want to change the way that lenders and creditors view you, you will want to have a high credit score.

Getting a high credit rating is not hard to do – you just have to pay your bills on time and pay in full. Obviously this is not possible if your balance is around $ 5,000 and you only bring in $ 2,000 a month in income. So what you will want to do then is pay as much as you can and get on a "beans and rice" dinner plan. You will have to cut back on all of your expenses and focus all of your energies on paying down your credit card debt.

Never think that you can "get by" with a low credit rating. There will be times in life where you need to acquire credit for something and if you can not get it, then you will be left with no where to turn. Now is the time to revisit your credit score and to get the desirable rates and terms that you want.

If you're currently spending like crazy on your credit cards, you will want to stop this bad habit. You're currently in a "risky" group and if you do not pay your bills on time you will transition into the "unreliable lender" group. Once you move into this group, almost all of your efforts at trying to get credit will get declined.

This is why you need a good credit score. You'll be able to acquire the things that you want in life and you'll be able to get the loans you desire.

Good luck with increasing your credit score and getting the financing that you want.

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Source by Adrian Hargray

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