Steps to help boost your credit score - Bills.com News

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Steps to help boost your credit score

Tuesday, Sep 29, 2009
By Jennifer Hewitt

One of the many credit questions that consumers may come up against is how to deal with their credit scores.

A recent article in the Detroit Free Press noted that many consumers may not realize how much credit scores can affect their lives. Not only can they influence whether people get a loan or credit card, they can also play a role in whether a person gets a job.

As aresult, consumers may wonder how they can improve their credit scores, especially if past actions -- such as bankruptcy -- have damaged it. Karen Kraft, education director at Christian Credit Counselors, told the paper that paying bills on time is one of the best things consumers can do for their credit scores.

"Living has to be the priority, so focus on housing, food, utilities and transportation and keep those payments current," Kraft said.

The next thing people should concentrate on is chipping away at credit card debt. Using a lower percentage of credit lines usually helps a credit score. Consumers should
also get a copy of their credit report.

For those who are worried that their credit scores may affect their job prospects, a number of bills are being considered by Congress that would limit the practice of using credit scores in hiring decisions. One such bill would confine the practice to jobs in the financial sector and certain positions in the government.

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• Five tips for saving money around the house There are a number of things people
can do when looking to give themselves some debt relief. Sep 28, 2009

Resources that save you money
• You might reduce your monthly payments by refinancing your mortgage. Get no-cost, online mortgage refinance quotes from up to four prequalified lenders.

• Buying a home? Get no-cost quotes online for competitive, fixed-rate mortgages from up to four providers.

• Reduce your debt up to 50%. Get matched with pre-qualified debt consolidation experts.

• Get a free credit report. Find a professional to correct your credit report. Apply for a new credit card. Visit the Bills.com Credit Card Center .

Also, make sure to get a free financial health check-up with Bills IQ!
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