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A perfect 850 credit score can earn you $1000. TrueCredit.com is giving anyone in America who has earned a credit score of 850 lifetime of free Credit Alerts to help them maintain their perfect score and guard against identity theft as well as $1000. Credit scores range between 300 - 850 with 850 being the highest credit score possible.
This month TrueCredit will award the $1000 to anyone that achieves a score of 850 when they order TrueCredit's score based on TransUnion data. The following areas can affect your credit score;
1. Punctuality -- Paying bills on time is vitally important. Late payments, collections and bankruptcies have the greatest negative effect on your credit score.
2. Credit Report Inaccuracies -- Credit scores can be negatively affected due to inaccurate information. Inaccurate information should be immediately reported to the creditor associated with the account or the credit reporting agencies.
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3. Debt -- Excessive debt will adversely affect your credit score. You should keep your account balances below 50% of your available credit. For example, a credit card with a $2000 credit limit should have a balance owed below $1000.
4. Time -- Time is a significant factor that can improve your credit score. A long history of paying your bills on time and using credit responsibly is favorable for your credit score. Keeping the oldest account on your credit report open is usually a positive for your credit score as it lengthens your period of active credit use.
5. Excessive inquiries -- A large number of inquiries made over a short period of time will lower your credit score. These are usually interpreted as a sign that you are opening numerous credit accounts due to financial difficulties or overextending yourself by taking on more debt than you can easily repay.
For more information on how to increase your credit score, you can read our article <A HREF="http://www.savingadvice.com/forums/showthread.php?t=27">Steps To Increase Your Credit Score</A>
This month TrueCredit will award the $1000 to anyone that achieves a score of 850 when they order TrueCredit's score based on TransUnion data. The following areas can affect your credit score;
1. Punctuality -- Paying bills on time is vitally important. Late payments, collections and bankruptcies have the greatest negative effect on your credit score.
2. Credit Report Inaccuracies -- Credit scores can be negatively affected due to inaccurate information. Inaccurate information should be immediately reported to the creditor associated with the account or the credit reporting agencies.
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3. Debt -- Excessive debt will adversely affect your credit score. You should keep your account balances below 50% of your available credit. For example, a credit card with a $2000 credit limit should have a balance owed below $1000.
4. Time -- Time is a significant factor that can improve your credit score. A long history of paying your bills on time and using credit responsibly is favorable for your credit score. Keeping the oldest account on your credit report open is usually a positive for your credit score as it lengthens your period of active credit use.
5. Excessive inquiries -- A large number of inquiries made over a short period of time will lower your credit score. These are usually interpreted as a sign that you are opening numerous credit accounts due to financial difficulties or overextending yourself by taking on more debt than you can easily repay.
For more information on how to increase your credit score, you can read our article <A HREF="http://www.savingadvice.com/forums/showthread.php?t=27">Steps To Increase Your Credit Score</A>
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