An Improving Your Fico Credit Score Worksheet Answers a number of commonly asked questions. These answers will show you how to proceed with improving your FICO score and how to get the best possible credit scores possible for your financial well being.
Should I reduce my monthly payments to a more affordable level? – No, you should never do this. The fact is that a reduced payment will cause the FICO score to drop.
How can I improve my debt to income ratio? – This is also a question you need to ask yourself. The answer to this question will determine what you should do to improve your credit score.
Do I have more than one credit card? – A single card cannot cause any problems with your FICO credit score. You need to avoid using multiple cards unless you are using them responsibly. If you have multiple cards, however, you may want to consider reducing the balances on these cards to improve your FICO score.
What about a closed account that is a negative item? – This can cause a lot of damage to your FICO credit score. It may be time to consider closing this account if it is still open.
Can I get a secured credit card? – Yes, this can work for a number of reasons. The key here is that you need to understand all of the terms and conditions associated with these secured credit cards.
Do I need a home equity loan to get a card? – There are two options available to you here. You can get a card without home equity or you can get a card with home equity.
Improving Your FICO Credit Score Worksheets can help you learn more about your personal credit report and help you move forward with improving your FICO credit score. Always be careful when making changes to your credit rating.