How To Get 800 Credit Score In 45 Days

How to Get a Good Credit Score for Businesses and Individuals

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When interest rates are low, financing your business or personal expenditures on credit becomes much cheaper. In fact, in an environment with historically low interest rates, creditors are at a disadvantage and debtors are at an advantage. Whether you are a business owner looking for capital to grow your business or a householder looking to fund major purchases, bank credit can help you.

Being able to access credit in today's financial landscape opens up a vista of financial possibilities. To access credit markets, however, a good credit score is necessary. This is because banks will assess your ability to repay loans based on your credit score.

Credit scores generally range from 300 to 850. A score over 800 is regarded as outstanding, whereas one over 700 is good. You can check your credit score online to see where you currently stand.

If your credit score is bad, you should take measure to fix it so you can get access to loans, credit cards and other benefits.

Free Online Credit Check

To maintain a good credit score, you need to regularly check your credit score. Knowing your credit score gives you a general picture of how you are doing. In addition, you can take advantage of opportunities that come to people with good credit scores. For example, you might be able to take advantage of car loans for people with good credit scores.

Your credit score can be obtained for free from various websites that use information from your credit report to calculate an accurate score for you.

There are three major credit scoring agencies in the US: TransUnion, Experian and Equifax. You can obtain a free credit report from each of them on request, once every year. You should therefore visit these credit reporting agencies' websites or contact them by phone to request a credit report.

Check Your Credit Score: Other Options

Various personal finance websites now include the option to track and view your credit score each month. Some of these websites require you to pay a monthly fee, or may make the score available free if you have purchased another service from them. Once you sign up to a reputable service, you can then view your credit score.

It is important, however, to avoid websites that have not been verified as legitimate service providers. If your personal finance information falls into the wrong hands, you might suffer loss from financial scams.

You can also get your credit score, for a fee, from any of the major credit scoring agencies. Call them at the following numbers to request assistance with obtaining your credit score:

Equifax - 866-349-5191
TransUnion - 800-916-8800
Experian - 888-397-3742

The agencies will show you how you can get a higher credit score. This might include taking remedial action on your outstanding debt. You need to be aware that a credit score is nothing more than a mathematical reflection of your management of credit. Therefore, if there are problems, adjusting your financial actions can raise your score.

How to Fix Your Personal Credit Score

A good first step in fixing your personal credit score is to make a plan for the payment of personal debt. If you have a mountain of outstanding credit card debt, the important thing is to begin to make the required monthly minimum payment. If you can pay more than that, that's even better. However, being delinquent with payment of credit card debt will knock down your credit scores and affect your ability to access better credit cards.

In addition, you should not use up all your available credit. This is a sign to the agencies that you are approaching the limits of your credit, which is bad for your credit perception.

How to Fix a Business Credit Score

Fixing a low business credit score requires you to build your credit profile in the market. You should pay down large debt balances. At the same time, you should build a credit profile with suppliers. However, just like with personal credit, do not use a large portion of your credit limit.