5 Ways to Boost Your FICO Credit Score to Get the Best Rates

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To get the best interest rates on mortgages, most lenders will want you to have a FICO score above 720.   If you want to boost your score today, here are 5 ways to boost your FICO Credit Score.

  1. Verify that accounts are current.
  2.  Dispute inaccuracies.
  3.  Ask creditors to help you out.
  4.  Settle on collections.
  5.  Improve your debt relation ratio.

What’s Included In Your FICO Score

The FICO credit score takes into account a combination of all of the information found in your credit report.

Your FICO score is made up of the following:

  • Payment History : 35% of your overall FICO
  • Total Amounts Owed : 30%of your overall FICO
  • Length of Credit History : 15% of your overall FICO
  • New Credit : 10% of your overall FICO
  • Type of Credit in Use : 10% of your overall FICO

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