Want To Improve Your Credit Score? Here Are A Few Things You Need To Know!
As a personal finance fanatic, you can bet, I follow quite a few different threads about credit scores. One thing I’m incredibly happy to say is that more and more people are talking about their credit scores just about every day. More and more people are starting to become concerned with their credit scores and doing something about it.
I’ve also noticed that there is quite a bit of information being left out of the conversation. Vital information that will help you to improve your credit score faster! Why? Well, it is the concept of earning trust by giving some secrets for free while holding enough back to make consumers want to buy! A great marketing concept that often leaves many scratching their heads! All of that to say, here are a few things that are often left out of DIY credit improvement tutorials…
Things You Will Need To Know To Improve
Your Credit Score Quickly!
Dispute Letter Addresses – One of the first things that you will be told to do in many tutorials is to write a letter to the credit reporting agencies informing them of inaccuracies. However, a key factor is being left out, the addresses that you will need to send the letter to! With that said, here they are:
Phone Number – (888) 397 – 3742
Website – www.Experian.com
P.O. Box 2002
Allen, TX 75013
Phone Number – (800) 916 – 8800
Website – www.TransUnion.com
P.O. Box 1000
Chester, PA 19022
Send Disputes To:
TransUnion Consumer Solutions
P.O. Box 2000
Chester, PA 19022-2000
Phone Number – (800) 685 – 1111
Website – www.Equifax.com
P.O. Box 740241
Atlanta, GA 30374
Send Disputes To:
Equifax Information Services, LLC
P.O. Box 740256
CSC Credit Services
PO Box 619054
Dallas, TX 75261-9054
The Average Age Of Your Cards Plays A Role
One factor that is often left out of conversations about credit scores is that the average age of your credit cards plays a role in determining your score. Therefore, many people are under the assumption that if they open a new secured credit card, it’s a good idea to close all of the other cards. Why have them if you have a new, credit building credit card, right? Well, when you close the other accounts, no matter how much of the credit limit you have spent, you will reduce the average age of your revolving accounts. This will definitely be bad for your credit unless all of your maxed accounts are incredibly new themselves.
Be Aggressive When Using Your New Line Of Credit
You are often told that if you open and use a new line of credit, you will see massive improvements in your credit score quickly. However, this isn’t always the case! For instance, if you max out your new card and pay minimum payments, you aren’t doing a thing for your credit score. However, if keep your balance below 50% of your credit limit while aggressively using the card and sending extra payments, your score will grow much quicker. This is because by doing so, you are showing the reporting agencies that you are not only capable of handling your debts, you are actively keeping track of your debts and making more than minimum payments when you feel necessary. Now that shows financial stability!
Building your credit score really isn’t all that hard. It’s a fairly simple process that just takes a bit of know how. I hope that the information in this article has inspired you to start to make a difference in your credit score! Thank you for reading and come back the first Wednesday of each month to learn more!
About The Author – Joshua Rodriguez
Hey everyone, thanks for reading my article! I’m Joshua Rodriguez and I’m the proud owner of CNA Finance and an avid freelance personal finance journalist. Another thing I’m very proud of is my relationship with Top Finance Blog so, please keep coming back the first Wednesday of each month to get more great financial tips. If you don’t want to wait for the next post to learn more, feel free to read one of the articles I’ve recently written about credit scores by clicking below! Also, remember to join the conversation on Google+ and facebook!
How To Improve Your Credit Score – A full, step by step guide to improving your credit scores!
How Long Does It Take To Improve Your Credit Scores? – The question you can’t seem to find a straight answer to!
Special thanks to flickr for the featured image!