Lynnette Khalfani-Cox, founder of the free financial advice blog, AskTheMoneyCoach.com, and author of the new book, Perfect Credit.
How to Boost Your Credit Rating:
*Check Your Reports Regularly
All adults can get their credit reports free once a year at AnnualCreditReport.com. This is the government-mandated site run by the 3 credit bureau: Equifax, Experian and TransUnion
*Know the Formula Most people don't know that there's a specific formula that governs your FICO score:
- 35% of your score is based on your payment history
- 30% of your score is based on the amount of credit you have used
- 15% of your score is based on the length of your credit history
- 10% of your score is based on your mix of credit
- 10% of your score is based on inquiries and new credit you’ve taken on
*Try Proven Methods
*Piggybacking off a family members good credit
*Adding Positive Info to your credit files
*Disputing Negative information with the credit bureaus
For more information, visit AskTheMoneyCoach.com.
How to Boost Your Credit Rating
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