DENVER (CBS4) – CBS4’s Gloria Neal has been looking into how you can improve your credit score and avoid mistakes during Consumer Protection Week.
There are more mistakes on credit reports than you may think. It’s estimated that 80 percent of credit reports have at least one mistake on them.
Here are some tips to improve your credit score:
– Reduce the amount of debt you owe. Use your credit report to make a list of all of your accounts and determine how much you owe on each account and what interest rate they are charging you.
– Keep balances low on credit cards and other “revolving credit” high, outstanding debt can affect a credit score.
– Don’t lower those balances by spreading your debt around. The most effective way to improve your credit score in this area is by paying down your credit card debt.
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