Five Ways To Improve Your FICO Credit Score, Get Lower California Mortgage Rate

Released on = October 3, 2006, 5:29 am

Press Release Author = Camelot Marketing

Industry = Financial

Press Release Summary = Improve your credit score to receive a lower California home
mortgage loan rate. Use these five simple ways to increase FICO credit score.

Press Release Body = Over 30 million people in the U.S.A. have credit scores low
enough (less than 620) to make shopping for low mortgage loan rates very difficult
at best.

The major credit reporting agencies use a slightly different system to arrive at a
credit score. The best known is called the FICO score, developed by Fair Isaac and
Company (FICO).

A FICO credit score can range from 300 to 800. Most borrowers fall into the 600-800
credit score range.

A high FICO score is your reward for paying bills on time. This is one of the most
important factors that determine your California home mortgage loan rate

If you\'ve had a few credit "bumps in the road" recently, and you\'re asking yourself,
"How can I improve my FICO credit score"? Here are 5 ways to boost your FICO credit
score.

1. Paying your bills on time is the first step in improving your FICO credit score.
Late payments can have a big negative impact on your FICO score, 30 days or more
late on one account can lower your FICO score 50 points or more.

If you don\'t like writing checks, go online and automate your bill paying.

2. Don\'t max out your credit cards. The smaller balance gives you a wider difference
between your balance and your credit limit.

Also, if you are planning to purchase a new car or other major item, wait until you
get that low mortgage loan rate.

3. If you are sincerely interested in improving your FICO credit score, bankruptcy
MUST be avoided! Bankruptcy is more negative than late payments or collection
accounts.

4. Get credit counseling if you have too much debt and begin to fall behind, or
can\'t see a way out.

5. Keep old paid off accounts in an open status. If you close an account, it won\'t
help your FICO score but it could lower your credit score.

If you close an old account it could make you look like a "rookie" in the credit
world. A factor in obtaining credit is how long you\'ve had credit.


If your FICO credit scores are over 620, but you want to raise it, obtain a copy of
your credit report and request that the credit bureau remove any errors.


About GoldMedalMortgage.com

GoldMedalMortgage.com provides a variety of mortgage solutions including first time
home buyer home improvement loans, home equity loans, and debt consolidation loans
through their partners.

For more information about California home mortgage loan rates or to improve FICO
credit score please call 866 398 4664 or go to http://www.goldmedalmortgage.com


Web Site = http://www.goldmedalmortgage.com

Contact Details = Keith Hunt
8190 Orchard Street
Alta Loma , 91701
$$country

9099871233
camelot21@mindspring.com
http://www.goldmedalmortgage.com

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