ways to improve your credit scores

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  • WAYS TO IMPROVEYOUR CREDIT SCORES

  • Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about ways to improve your credit scores.

    ex.pn/improvecredit

    http://www.experian.com/blogs/news/about/improve-credit-scores/

  • What info is on a credit report? (And whats not on your report?)

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Credit report contains: personal information, credit history/inquiries, public

    records and even consumer statements from you!

    - @KOFETIME

  • #CreditChatWednesday | 3 p.m. ET

    Your name, address, payment history on accounts, balances, collections, public records and inquires.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    Four categories of information: identification, account information, public

    records, inquires. All debt related information.

    - @Rod_Griffin

  • How often should people review their credit reports?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    You can check your own credit as often as you like without negatively affecting your

    score, so its good to check often.

    - @Purefy

  • #CreditChatWednesday | 3 p.m. ET

    Twice a year, set a schedule January 1 and July 1, fresh start to new year and summer fun.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    At an absolute minimum, check your report once every 12 months. Its free at

    annualcreditreport.com.

    - @Rod_Griffin

  • What should you do if you find an error on your credit report?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Contact your creditors and request information on your account. Review and

    then report to the FTC and file a police report.

    - @LeslieHTayneEsq

  • #CreditChatWednesday | 3 p.m. ET

    Dispute it with the credit bureau reporting it and contact the creditor responsible for it.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    Explain what you think is wrong, why, and include copies of documents that support

    your dispute.

    - @AirForceFCU

  • What should you do if youre worried about credit fraud?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    If you are worried about credit fraud, check your report often and consider enrolling in

    a credit monitoring service.

    - @SFCUNews

  • #CreditChatWednesday | 3 p.m. ET

    Monitor your credit and check the inquiries. Possibly put an alert or freeze.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    Shred all documents with personal information, be wary of what site you give

    information to and check your credit reports regularly!

    - @LeslieHTayneEsq

  • Why are credit scores important? How are scores calculated?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Credit scores are a tool used by lenders to analyze the information in your report to determine lending risk. Payment history

    and utilization rate are 60-70% of a credit score. Pay bills on time, keep balances low

    for good scores.

    - @Rod_Griffin

  • #CreditChatWednesday | 3 p.m. ET

    Scores are used to approve or deny and also at what interest rate.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    The major factors used to calculate your credit score are your payment history,

    amount owed, and length of credit history.

    - @Purefy

  • #CreditChatWednesday | 3 p.m. ET

    Credit Scores represent your creditworthiness and are used for loans,

    employment, insurance, etc.

    - @AirForceFCU

  • How can cosigning on a loan/credit account impact you?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    As the cosigner on a loan, you assume FULL responsibility. If its not paid, it hurts your

    credit.

    - @FedChoiceFCU

  • #CreditChatWednesday | 3 p.m. ET

    Co-sign should just be called JOINT. It is same as if you were taking out loan.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    If you cosign and they dont pay, it can wreck your credit.

    - @Rod_Griffin

  • What are ways to build a great credit history?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Paying before the deadlines, and more than the minimum amount required, keeping a balance less than 50% of credit allowed.

    - Andie @moneyinmy30s

  • #CreditChatWednesday | 3 p.m. ET

    By paying bills on time and lowering any outstanding credit card debt. Having accounts open for a long time,

    varies types of accounts, these are all great.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    Make payments on your accounts on time and in full every month. 35% of your FICO score is based on your payment history.

    - @care4yourfuture

  • What are some of the biggest credit myths youve heard?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Biggest myth is that credit is not important. So not true!

    - @JusOnePay

  • #CreditChatWednesday | 3 p.m. ET

    People think that if they paid off their mortgage, pay cash for cars that they are not a credit risk, they think its great credit, people also think a debit card reports on their credit report.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    Myths: It is better to buy everything with cash and it is better to carry balances on

    your credit cards.

    - @CaryCarbonaro

  • #CreditChatWednesday | 3 p.m. ET

    Myth: If a credit score is bad it can never be rebuilt, so not true!

    - @taynelawgroup

  • Any final tips for those that want to improve their credit?

    #CreditChatWednesday | 3 p.m. ET

  • #CreditChatWednesday | 3 p.m. ET

    Dont focus on the number. Instead, pay attention to the list of factors affecting your

    score.

    - @jennifercwhite

  • #CreditChatWednesday | 3 p.m. ET

    Take care of your credit report and your scores will take care of themselves.

    - @Rod_Griffin

  • #CreditChatWednesday | 3 p.m. ET

    Dont be afraid of it, start today paying attention and you will see a difference soon.

    - Jeanne Kelly, @creditscoop

  • #CreditChatWednesday | 3 p.m. ET

    If you want to close a card because of a fee try to transfer to a non-fee card with the

    same company, this helps maintain credit card history.

    - @Purefy

  • #CreditChatWednesday | 3 p.m. ET

    Your credit is extremely important for numerous reasons. Make on-time payments

    on your account and it will help you greatly.

    - @care4yourfuture

  • #CreditChatWednesdays | 3 p.m. ET

    Check out all the resources and tips shared:

    ex.pn/improvecredit

    http://www.experian.com/blogs/news/about/improve-credit-scores/

  • #CreditChatWednesdays | 3 p.m. ET

    Join Us Every Wednesday at 3 p.m. ET.

    experian.com/creditchat

    http://www.experian.com/blogs/news/about/creditchat/