Lowering debts help credit score

Lowering debts and consolidating your bills can help you improve your credit score. We've been so busy creating new content and new website features to help our readers help restore good credit, that we're just now getting around to posting on this blog. Take a look at our new site to help everyone get a handle on how to pay down their debts:

http://www.Pay-Off-Debts.com

The credit scoring services like FICO use a variety of data to determine your credit score, which these days could cost you a home loan, higher auto insurance, even a job, if your credit score is low. High debt levels on your credit cards are one of the worst culprits in robbing you of a good credit score, and the free tips that can help you consolidate and pay off high-interest credit cards and adjustable home mortgages can be the first step to help you get yourself out of debt, by yourself!

Check it out now:

http:///www.Pay-Off-Debts.com

Fix your credit or dump debt ?

What comes first? Fixing your credit? Or dumping old debt?
Our response: Do both at the same time.
You can get into action checking your credit score right now, and at the same time, you can make the decision to stop adding to past debt and start seeking ways to eliminate your debts.
Maybe you'll need to stop using your debit card several times a day.
Maybe you'll need to end automatic subsrciptions to magazines, mail order clubs, and similar "money drains" that you've forgotten you subscribed to.
Maybe you'll need the help of a professional consumer credit counselor to help get you back on track to get better credit now.
Whatever it takes, it can be done.
And it can be done at the same time.
Your FICO credit score is weighted very heavily on debt loads you carry on credit cards and the amounts you've piled up in installment loans, auto loans, etc. You credit score can be improved when you tackle paying down your debts and when you learn to consolidate debt without adding more debt.
The articles and links we've posted here will lead you to simple steps to reduce debt, fix credit, and get a better credit score.

Simple ways to get better credit

One excellent tip for restoring good credit is to decide for yourself never to charge more than 50% of your credit limit on your credit cards, and don't ever allow yourself to build up a balance of more than 50% of your available credit at any one time.
Carrying a large balance in relation to your overall credit limit is the perfect way to lower your credit score. You want good credit. Here is a simple way to get better credit in the shortest possible time:
Charge a modest amount the first month, say $200. Pay about 20% over the minimum payment due from your first billing, and then the following month, pay the entire balance. Do the same thing for the next 5-6 months, and always, always, always be timely with your payment.
Our advice: pay your credit card bill online a few days BEFORE it is due, that way, you will have time to call the credit card company if your payment hasn't posted to your account due to technical reasons.
At the end of the six month period, take money from savings and pay off the entire balance. Keep the card open, maybe charging something every now and then and remember to always pay the card in full each month before the due date.
Within 18-24 months, you should be boasting a much higher credit score.
Restoring good credit requires time, commitment, organization and solid common sense. By cleaning up your credit when you don't need to borrow money, you will have a much better ability to get decent terms and access to money when you do indeed need to take out a loan or when you apply for new credit.