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Many people's credit scores have suffered as a result of the economic downturn. Luckily, these tricks and tips can show you how to have a better credit score.<br><br>If you have a poor credit rating, it can be extremely difficult to obtain a mortgage loan for a home. If you are in this situation you should look into FHA loans before speaking with a bank. Even when the resources for making down payments or paying closing costs are lacking, FHA loans can help.<br><br>If your credit is such that you cannot get a new card to help repair it, apply for a secured one. When you open a secured credit card account, you place money on deposit to cover any charges you may make. This ensures in advance that you will have enough money to pay for your debt. If you show a good history of payments with this card, it will help improve your credit standing.<br><br>Your interest rate will be lower if you have a good credit score. Lower interest rates will reduce the amount of your monthly payment, and can also make it easier to repay your debt faster. Receiving competitive credit rates and good offers are important in having credit that you can pay off easily, and that will get you a great credit score.<br><br>Be very wary of programs that do not sound legal; chances are they aren't. A common scam involves teaching you how to make a completely new, albeit fraudulent, credit file. This is illegal and you will most certainly get caught. The legal proceedings will be costly, and you may even be sent to jail.<br><br>You can contact your creditors and request a lower limit. This will keep you living within your budget, and will show the credit companies that you repay debts. This will allow you to get credit easier in the future.<br><br>You can contact your creditors and request a lower limit. This will prevent overextending yourself and lets the company know about your responsible borrowing habits. You could get credit easier in the future.<br><br>Find out how your debt settlement contract will make your credit score look. Some debt settlements are better than others. Do your homework and find out how your score will be impacted before agreeing to anything. Some of these creditors are only concerned about getting their money, and not how it will affect your credit.<br><br>Take the necessary steps to fix any mistakes that you see on your credit reports by filing an official dispute. Send an official letter to companies that have wrongfully lowered your score, and include documentation that shows the mistake. Make sure when you send the dispute package that you request proof by signature that it was received.<br><br>Pay off any balances as soon as you can. Sort your credit cards by balance and interest rate with the highest first. Then determine which credit card is the highest either in balance or interest rate and start to pay it off first. This will show future creditors that you take your debts seriously.<br><br>If you are able to successfully negotiate a payment schedule for a debt, it is important to request a copy of the agreement in writing. This will protect you should the company change its policies. Once you finish making all your payments, be sure to send that information to the credit agencies in writing.<br><br>Lowering the balances you carry on revolving accounts can improve your credit score. You can up your credit score by just keeping your balances lower. Increments of twenty of available credit are noted by fico.<br><br>Debt collectors are an intimidating and stressful part of dealing with bad credit. Cease and desist instructions can be used to ward off debt collectors to a point, but only really to prevent harassment. They can prevent collectors from continuing to call a debtor, but they do not excuse the debtor from his or her outstanding financial obligations.<br><br> credit score ratings ranges *[http://www.gupshupdunya.com/blog/4500/tips-to-educate-you-about-credit-repair/ similar site]* Now that you have a good idea about various methods and techniques for repairing your credit, why wait until later to put your plan into action? Act now to start on the road to improving your life by improving your credit.