A Few Steps to Raise Your FICO Score

Startup Stock PhotoBY CHUCK BISCHOF (
Your FICO credit score is important when obtaining financing for a home, so what can you do when your score is too low to obtain the best, or even a good, interest rate?
The FICO score is an empirical representation of your credit history based on reports from the three top credit reporting agencies: Experian, Equifax, and TransUnion. As such, the agency that was consulted may submit different information than others, causing your score to appear lower than it should.
The first thing you should do is monitor your FICO score. It’s easier than ever to monitor your credit score these days. allows you to obtain a free credit report once a year, while some credit cards now include your current FICO score with every monthly statement.
The second step you can take is to ask the individual agencies to remove any incorrect or out of date information, an all too common problem. A simple letter or phone call to the appropriate credit reporting agency can accomplish this. Proof that the accounts in question are paid in full or current is all that’s needed to remove bad information from your report.
A third step you can take to increase your FICO score is to ask your creditors to raise your credit limit. Provided you don’t immediately charge these accounts to the limit, the additional credit will reflect positively on your score, as utilization of available credit is very important. This is quite possibly the easiest quick action you can take to raise your score.
Finally, there are also credit repair agencies that can assist you in increasing your credit score for a reasonable fee.
Once you’ve taken these easy steps, call me at (267) 255-5615 to find the home of your dreams. I’ll also put you in touch with some great lenders that can find you the best rate and terms that fit your needs.

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