How to Improve Your Credit Score
If you would like to know how to legally increase your wealth and financial resources, I believe that having good credit is an integral part of this process. Why? In short, the better your credit, the less you pay for goods and services. The less you pay, the more you keep. And besides, with good credit, you can borrow money to invest in business ventures or other activities that can increase your financial position. Nowadays, all of the following require a credit history:
- home phone
- cell phone
- utilities (gas/electric company shows as a credit now)
- renting a car
- leasing or buying a car
- renting an apartment
- buying a house
Your credit report is also used in some of the following cases:
- auto insurance
- home insurance
- employment
Even if you operate on a cash money basis, if you ever want to leave town for vacation or business, having a credit card at your disposal can come in handy.
What do you do if you want to improve your credit score?
Start at the beginning. Find out what it is, why it is, then make the necessary changes to improve it. How? I personally use MyFico and as of November 2007 my scores were:
- 782 - Transunion
- 790 - Equifax
- 792 - Experian
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