How To Manage Your FICO Credit Scores

These days lots of people are facing the problem of identity theft. If you are also facing the problem of identity theft then this article will be very helpful for you. The days of easy credit are long gone. With the economy being in turmoil and the banking system suffering massive losses over the last couple of years it is so important that we are diligent in managing our credit and managing our credit scores. To qualify for a home mortgage, have a car financed and even get a credit card today requires a higher credit score than years past. Therefore it is so important that we make sure our FICO scores are as high as they can be. You can also visit https://www.argosrisk.com/ for credit score monitoring, etc. for more help.

Improve Your Credit Score.

Many people falsely believe that just by paying their bills on time they will have a good credit score. This is the furthest thing from the truth. As a matter of fact your payment history only accounts for 35% of your FICO score. There are people who are never late on their bills with a 600 score and some with an 800 score. These 7 guidelines below will help you improve your FICO credit score.

1. Reduce the balances on your credit cards.

2. Increase the limits on your credit cards if you can.

3. Do not close an account even if you no longer use it and it has a zero balance. Length of history increases your score.

4. Monitor your history with an credit and identity monitoring service.

5. Limit inquiries to your accounts.

6. Don’t apply for credit needlessly. Excess credit lowers your score.

7. Review your credit reports annually for errors and dispute any negative items.

These seven tips can help you keep your score high and help you qualify for financing and get the best rates available. For more help you can also browse the internet. There are lots of websites available online which can help you.