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Copyright (c) 2013 Nikitas Tsoukalis When your credit score is low, you may have trouble qualifying for new credit accounts. Even if you can qualify, you will most likely pay a high interest rate on the money you borrow, which makes it even harder to maintain financial stability. Fortunately, it's possible to raise your credit score over time if you plan carefully and make smart decisions. If your credit score is lower than you want it to be, use the tips below to revive it. 1. Apply for Joint Accounts. If your credit score is low, it may be impossible to qualify for a credit account on your own. Unfortunately, without open credit accounts, raising your credit score is much more difficult. If you can't open accounts in your own name, apply for a joint account with a spouse, friend or family member who has a better credit score. 2. Apply for Secured Credit If you can't qualify for unsecured credit accounts, try to obtain a secured credit account instead. Secured credit is easier to qualify for, and it will still raise your credit score. 3. Don't Open Too Many Accounts at Once Although obtaining new credit is one of the best ways to raise your credit score, you shouldn't open too many accounts at one time. Each time you open a new account, a credit inquiry will appear on your report and lower your score. 4. Pay Delinquent Accounts If your credit score is suffering because of delinquencies, pay them off. After you pay the balance, make sure the creditor updates your credit report. 5. Use Credit Carefully When the balance on one or more of your credit cards gets too high, your credit score will fall. Avoid carrying high balances on your credit cards. 6. Pay Credit Cards on Time One late payment can dramatically lower your credit score, while timely payments will steadily rebuild it. To fix bad credit, make sure that you always make all of your payments on time. 7. Check Credit Scores Regularly When you're trying to rebuild credit, it's more important than ever to ensure that all of the entries on your credit report are accurate. Check your credit report on a regular basis and dispute any errors you find in writing. 8. Negotiate with Debt Collectors If you have delinquencies on your credit report but you can't afford to pay them, try to negotiate with debt collectors to lower the balance. As long as the debt collector agrees to mark the balance as paid, it won't matter how much of it you actually paid. 9. Keep Accounts Open Although it may seem counter-intuitive, closing a credit account won't raise your credit score. In fact, closing an account can actually lower your score, so avoid closing accounts whenever possible. 10. Ask for Credit Increases Higher limits on your credit accounts raise your available credit, which has a positive impact on your credit score. If you have been making payments on time for at least six months, ask your creditors to increase your limits. Credit repair is hard enough. Trust in our team to help you with your credit needs. You can find us by searching key credit repair either with Bing or Google. http://www.keycreditrepair.com
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