Tuesday, July 30, 2013

Credit Repair Tips for 2013 (Part 1)

The market and economy is moving in a positive direction. Service prospects are developing, real estate values are evening out, and the economic points across the board are facing up. Along with that, credit repair chances have never been so delightful. Fair Isaac, the inventor of the famous credit score, doesn’t expose the bolts and nuts of their ways, but it is obvious that along with a reduction in regular debt default values, the FICO formula is much more forgiving of the previous mishaps, and much more rewarding of excellent behavior. It is the time to take control of your credit repair attempts for outstanding results. 

Open Up New Accounts
An exciting and interesting opportunity is the benefit you obtain from opening up new accounts after you have moved past a time frame of negative credit history. FICO is placing additional weight on these new accounts which indicate your ability of being able to get back on your feet and step into action once again. It is true that a couple of months after opening a new account, your credit scores will be slightly boosted, but give it around six months and you will be presented with as much as a hundred point boost. 

Question to the Reader: Have you ever taken financial steps to specifically raise your score?

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