Free credit rating Oklahoma

And, lower scores can also lead to higher insurance rates and harm your ability to rent an apartment or even get a cell phone. Fortunately, there are a few steps you can take that will begin improving your credit score almost immediately: Establish a baseline. First, review free credit rating Oklahoma your credit reports from each of the free credit rating Oklahoma three major credit bureaus (Equifax, Experian and free credit rating Oklahoma TransUnion) to find out what negative actions your creditors have reported. While you're at it, look for any errors or possible fraudulent activity on your accounts. You free credit rating Oklahoma can order one free report per year free credit rating Oklahoma from each bureau through the government-authorized AnnualCreditReport.com; otherwise you'll pay a small fee. You can also order a FICO® credit score (the score most commonly used by lenders) for $19.95 from MyFICO.com to know exactly where you stand. Generally, FICO scores over 740 are considered free credit rating Oklahoma excellent, while those falling below 620 may make it tough to even qualify for a loan. "It definitely pays to have a good FICO Score," says Greg Pelling, vice president of Scoring and Analytics at free credit rating Oklahoma FICO, the leading developer of credit scores. "Based on today's rates, a good score could save you almost $6,000 in interest payments on a three-year, $25,000 car loan. government credit report

Or save you $30,000 on a $100,000 home loan free credit rating Oklahoma over 30 years, if your score is above 740 rather than below 620.

Lenders base their decision on many factors but your FICO score plays a major role." Banish late payments. A single late mortgage payment could knock 100 points off your score, so set up automatic payments free credit rating Oklahoma for recurring bills (mortgage, utilities, etc.). Also consider setting up automatic minimum credit card payments if you're prone to forgetting or travel a lot. And sign up for text or email alerts from your free credit rating Oklahoma bank or credit union for when your balance drops below a minimum amount.

Monitor 'utilization.' Exceeding individual credit limits is free credit rating Oklahoma another good way to get dinged. In free credit rating Oklahoma fact, the lower your credit utilization ratio (the percentage of available credit you're using), the better. how to free credit report Try to keep your overall utilization ratio -- and the ratios on individual cards or lines of credit -- free credit rating Oklahoma below 30 percent. Although it usually it makes sense to pay down credit accounts free credit rating Oklahoma with higher interest rates first, if you've tapped more than 30 percent of available credit on a particular card, bringing that percentage down first may help boost free credit rating Oklahoma your score more quickly. Timing is critical. Even if you pay off your balance each month, showing a high utilization free credit rating Oklahoma ratio at any time during the month could conceivably hurt your score if the free credit rating Oklahoma statement balance is elevated when it gets free credit rating Oklahoma reported to the credit bureaus. This is especially problematic for people whose credit limits were lowered after the recession began.

A free credit rating Oklahoma few suggestions:

Spread purchases among multiple cards to keep individual balances lower -- while still paying off as much as you can each month, of course. Make an extra payment midway through the billing cycle so your reported outstanding balance appears lower.

Ask lenders to reinstate higher limits if free credit rating Oklahoma your payment history has been solid -- but don't tap the extra credit just because it's there.

Be cautious with transfers. Transferring balances to free credit rating Oklahoma a new credit card account to get a lower rate will ding your credit score by a few points -- although it won't take that long to recover. credit fraud protection But, say you move a $2,000 balance from a card with a $10,000 limit to one with a $4,000 limit; you've immediately gone from a 20 percent utilization ratio to 50 percent on the new card.

Plus, if you then close the higher-rate card, you'll only compound the problem by free credit rating Oklahoma both lowering your available credit and erasing a longer-term account from your credit history. Mix it up. People who demonstrate free credit rating Oklahoma managing several types of credit earn higher scores, so if your revolving (credit card) payments are under control and you don'free credit rating Oklahoma t have any outstanding installment loans (mortgage, car, student), consider taking out a small personal loan and paying it off on schedule.