Credit Score & Credit Reports Nowadays your monthly credit card statement shows your FICA score. Your FICA score is crucial if you are getting ready to buy a home, car, or need any loan from a bank. Having an excellent credit score enables you to get the lowest interest rate on borrowings. There are several ways to increase your credit score. The first step is to obtain a copy of your credit report. Everyone is entitled to a free credit report yearly. Look through it to ensure there are no errors. Most negative items affecting your score disappear after seven years. For the negative items, you can contact the companies and ask for forgiveness. Please contact me for a sample letter you can use. Going forward, pay your bills on time to keep your credit score in good condition. It's helpful to mark on your calendar when monthly payments are due and set it as recurring. I use my google calendar and a reminder pops up on my phone.
Should I Transfer My Credit Card Balances? This is on a person to person basis. But if you don't expect to pay the debt off in less than 3 months, you may want to think about transferring it to a 0% APR credit card. Many cards such as Chase Freedom, will give you 12-18 months 0% APR which will make it more manageable to pay off.
