How to Build a Better Credit Score

 By: John LeBlanc
Every day, people are asking me what they can be doing to improve their credit scores. Not just improve their scores so they look presentable for any lender or creditor who might be checking their credit report, but to achieve the perfect credit score. After all, with a perfect score, you'll likely never have to worry about your credit again, right?

So what are some of the steps those with perfect scores take to achieve the best credit? Read on…

Flawless credit report

If you want the perfect credit score, you need a completely flawless credit report. This means paying all of your bills on time, and in full. You have no major outstanding debts, no accounts in collections, no bankruptcies, or anything else that would drive your score down. You'll also have at least 2 or 3 open credit cards that you regularly use and pay on time.

Your report is diverse

You won't get to a perfect credit rating with only a small handful of credit cards in your history. Your report needs to be a celebration in diversity to achieve that prefect credit rating you so crave. If your history includes a personal loan, or a mortgage or car loan, it helps to balance your profile out and shows you can handle different types of account with no problem. Just make sure to keep paying those bills on time.

Few inquiries

Be careful when applying for new credit cards or lines of credit. Every time you do, an inquiry is placed on your credit report by the creditor to check your level of risk. Having too many inquiries like this on your report can make you look irresponsible and start to drive your score down. Keep at least 2-3 cards open and don't apply for every offer that comes with the rest of the junk mail.

Start today

No one starts with a perfect credit score; we have to work for it. That can be a lot easier said than done for others, but follow these steps to start your efforts at credit clean up, and your credit score will start looking better and better as time goes by.
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