Question:

Can you give tips to boost your credit rating score?

Answer:

Credit rating score is easy to boost and there are many ways to do that. Most people think if they are making a lot of money, they are going to have an excellent credit score. However, this is not true. Credit score reflects our ability to manage money rather than our income.

Some Tips to Boost Your Credit Rating Score

Saving money and investing it helps build credit score, and helps build assets. Rather than buying unnecessary items, you might be putting part of your paycheck towards a savings account or make some investment.

Getting secured and unsecured loans that you are able of repaying convinces the lender you know how to manage your debt and you have the resources to repay it. Buying a car, a house and creating an investment portfolio does help build credit history and boost credit rating.

Another tip will be to delete wrong items from your credit report. Credit bureaus often lag on updating credit items unless requested by creditor or yourself. Helping them speed the process may easily raise your credit score with 30 or 50 points.

Finding additional streams of income also boosts your score tremendously. Be it renting part of your home, setting up a small business or asking your employer for a raise can improve your income and your credit will experience quite a boost.

There are many ways to boost your credit rating score. Mostly, they relate to increasing income, shrinking expenses, maintaining discipline in repaying debts, removing wrong items, etc.

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