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Improving Your Credit Score

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Improving Your Credit Score

This playbook describes the importance of a good credit score and provides detailed steps to improve your credit rating, enabling you to save money on loans and credit opportunities.

Step 1: Review Report

Obtain a copy of your credit report from the major credit bureaus and review it for any errors or inaccuracies.

Step 2: Dispute Errors

If you find inaccuracies, file disputes with the corresponding credit bureaus to correct them.

Step 3: Pay Bills

Ensure that you consistently pay your bills on time, as payment history is a significant factor in credit scoring.

Step 4: Reduce Debt

Work towards paying down outstanding debts, especially those with high interest, to lower your credit utilization ratio.

Step 5: Limit New Credit

Be cautious when opening new credit accounts; an excessive number of inquiries and new accounts can negatively impact your score.

Step 6: Monitor Score

Regularly check your credit score to track improvements and detect any potential issues quickly.


General Notes

Credit Report Access

You are entitled to one free credit report from each of the three major credit bureaus every 12 months through AnnualCreditReport.com.

Report Timing

It may take one to two billing cycles for updates and corrections to be reflected in your credit report after disputes are settled.