Your credit score is your financial report card, but more than that it is an indicator of how responsible you are. It shows lenders, employers and landlords your ability to be trustworthy, manage money and stick to your end of the bargain when obtaining loans.

For that reason, your credit score can have big implications on your life. From being approved to an auto loan, to obtaining a mortgage at a fair rate. The higher the credit score, the easier it is to obtain loans at the best possible rates. When you have a score that is better than average, banks, lenders and creditors are willing to throw money at you with no questions asked and with flexible repayment terms.

Luckily, for someone who has a below average credit score, there are a number of steps they can take to improve their credit worthiness. The fastest way to raise your credit score, however, depends on your current situation.

The credit score is determined by the information that appears on your credit report. Some of the information has more weight than other data, so when working to raise your credit score you wan to start with those areas that have the greatest impact.

The individual’s credit history, for example, accounts for about 35% of your credit score. In other words, how good you are about paying your bills on time. Therefore, the best thing you can possibly to do instantly raise your credit score is to make sure you are making payments on time. But you also want to check your credit report to make sure you are not being falsely misrepresented . . . and chances are that your credit report is not accurate.

One out of every 4 credit reports has information on it that is inaccurate and damaging to the individual’s credit score. So the first thing you want to do is review your credit report and make sure there are no indications of late payments or delinquent accounts that are not actually true. If you find these, all you have to do is notify the credit reporting agency and they have 90 days to investigate and resolve the situation by law. Removing this false information will boost your credit score.

Double checking for accurate credit history on your report is one of the biggest ways you can boost your credit score. This can take a couple weeks to resolve and be reflected in your credit score.

Want to boost your credit quickly? Learn more by visiting the Fico Formula at: www.ficoformula.com

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