Need To Repair Credit Score - Avoid 4 Mistakes That Could Destroy Your Credit Rating

repair credit score avoid 4 mistakes These credit repair tips are geared towards those with poor to mediocre credit scores. If you have a credit score of at least 700 any tweaking that you do will tend to have less of a positive impact. Moreover if you are among the few with a credit score of 760 or above you may be able to squeeze out a few more points but nothing major.

Mistake #1 - Requesting that a creditor lower your credit limits. This will reduce the gap between your balances and your available credit, which could hurt your credit scores.

Mistake #2 - Making a late payment. Late or missed payments will destroy good scores more than bad scores - dropping 700-plus scores by at least 100 points or more.

Mistake #3 - Consolidating your accounts... Bad move! You should avoid concentrating all or most of your credit-card balances onto a single card. It’s better to have smaller balances on a few cards than a big balance on one. Nor is it recommended to transfer your balance from a high limit card to a lower one.

Mistake #4 - Applying for new credit when you have more than enough. Choosing to get an installment loan can help your scores “IF” you don’t have any installment accounts or your trying to rebound from a credit disaster such as bankruptcy.

If you avoid these common mistake you will save yourself a lot of trouble when trying to improve your credit scores. There are other things that you could do to achieve an excellent credit report, if you are willing to spend 3 minutes a day watching some free online videos...