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Suppose we told you that there was a definitive and easy way to increase your credit score? Many college kids answered that the way to increase your credit score was to simply pay off all your bills in a timely fashion. home owners mentioned that to do so was to pay the mortgage on time and to work on removing bad references from the credit records.

So, the question is, Can the credit card score be improved and most people would answer simply pay your bills on time and there should be nothing to worry about. Everyone it seems has an opinion on this. Some said that constantly asking the credit agency to respond to specified issues in your report within a period of time specified by law could or might result in the credit agency making a mistake and the issue in question being cleared – largely based on a technicality. Enough people mentioned this tactic, so it appears that as unorthodox as this method may seem, there may be some validity in some jurisdictions.

As mentioned above, most people simply answered “pay your bills on time and your credit rating will be excellent”. We counter that paying your bills on time is fact expected and that this can give you an average credit rating of 5-700. But is this “pay your bills” thought really true? We are going to name this as myth number 1 and look more closely at it here. Loan institutions absolutely adore customers whom pay off their bills on time every month? We calculate stupendous bank profits in that model, right? The truth is, loan institutions and other lenders including the mafia are in absolute love with people who maintain a nice healthy balance that they can get charged interest on.

Ok, Question number 2. Big borrowers who are simply big borrowers are simply loved by the banks. Is this really true ? If this were the case, people who couldn’t repay loans would get huge amounts of credit and constantly end up in repayment problems. Anyway, if I am wrong on this one, I would be the second in the line chasing you to the nearest bank for a mega loan. I have had my eye on some New York Prime Property for a while now. But this isn’t true is it? So perhaps this is not the answer either.

Let’s cut to the chase. Banks and your, ahem, local mafia lender ( ohh are these two interchangeable ? ) love clients who pay more than the interest each month but not enough to seriously subtract from the actual principal amount. These are cherished suckers and enough of these on a banks balance sheets makes for a very healthy bank. These customers also have the ongoing income to keep their total loan amounts very much under the total allowed credit range. It is this loan to credit that more strongly influences whether a credit rating will be closer to 670 or 800. Lets look at an example, 35,000 in credit and 14,000 already used.

The keyword phrase “ongoing ability to pay ” is why some older retired persons with otherwise good credit may sometimes have difficulty refinancing longer term loans. Existing verifiable income is one of the underlying basis for credit that requires repayment. I think pension checks are income but for some reason lenders don’t rate those quite so highly.

So the key issue for those looking to increase their credit scores from perhaps a low 600 to a high 800 depends more on the factor of debt ratio.Primary amongst those additional factors is as mentioned, the DEBT RATIO. If you want to have a credit score above 800 then the credit agencies must think you have a very favorable debt ratio.

That something else is the debt ratio. The key issue for getting credit card ratings above 6-700 is the debt/credit ratio.

Come to the site, view the video – learn how you can quickly change your score quite positively. It can be done in an extremely short period of time, come watch.

Going for a loan, Mtg or Lease. Increase your credit score first and get a better loan rate from your lender.