How To Get A Good Credit Score

If you want to stay in control of your financial future and your own success, it's vital to learn how to get a good credit score and to maintain it. If you can get a good credit score, you will qualify for higher loan amounts, lower interest rates and lower insurance payments, all of which can help you to create a better financial situation for yourself.

1. Order your credit reports. In every state, you get one or more credit reports each year for free. This includes at least one from each of the three major credit reporting agencies. Once you have your credit reports, you can see any accounts that are delinquent, any that are ongoing and any that already been paid as agreed. The accounts on your report will generally go back for seven years. 
2. Take care of every delinquent account. Even if you can't pay off every account, stopping the delinquent payment reports will help you to get a good credit score over time. If you have many accounts open and are paying all of your accounts as agreed, your credit score will get better, but don't open any new credit accounts. Even applying for more credit will lower your credit score. And, if you have too much credit extended to you when compared to your income, your credit will take a major hit.
3. Never let any bill get 30 days late. Some months, money is tight, but the 30 day mark is when the delinquency gets reported to the credit bureaus. If you want to get a good credit score, always pay attention to due dates and never let a bill get any older than it has to.
4. If you have no credit accounts open, you can get a good credit score only by borrowing and paying your bills on time. Get a credit card with a mid-range credit limit. Too much may hurt your credit and too little can make it hard to stay under the limit. Then, charge a few small items each month and pay off the bill in its entirety every month. Soon, you will have a good credit score and can take on larger loans.