Perfect Credit Score

Ok, raise your hand if you want a perfect credit score. That statement would probably have everyone´s hand in the air anywhere in the country but unfortunately for most people this seems to be an elusive dream. The magical number 850 seems to be eternally out of reach and this even happens to people who make all their payments on time. The problem most people have however is that they really do not understand how credit works or exactly what factors the credit reporting agencies us when calculating peoples, including the few, perfect credit scores.

In the first place the fact that you make you payments on time is only one of the several factors used. There are several factors that can prevent you from reaching a perfect credit score. Another factor that most people are not aware of is how much above the minimum amount you are paying and how large your balance is. Another factor is how many credit sources you have. You can apply for several different credit sources, purchase a small amount and repay it and have another credit source. By the same token each source you have that you owe more than a certain percentage too, will decrease your points down. This is why consolidating your debts but keeping the credit sources open is so important. large balances with several creditors will drag you score down even if you are making the minimum payment. Consolidate into one large debt and have a number of different credit sources will increase your score by probably 40 or 50 points, depending on the number of sources. Using things like gas cards and department as

credit sources is a great idea to eventually helping you obtain a perfect credit score.

Another problem is that many people have had small errors creep into their credit report over the years. This can happen when you have three agencies trying to keep up with the credit of tens of millions of people on a daily basis. It is the responsibility of everyone to check your credit report as often as possible, find the errors and dispute them. Any imperfection will keep you from a perfect credit score. If you want a perfect credit score these are just some of the things you will have to do. A perfect credit score can be obtained by you will have to maintain due diligence and keep up with the things you need to do. In many cases the best thing to do is to consult with an experienced credit counselor. This will at least give you an idea of how to go about getting a perfect credit score.

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Rebecca White-Glanders is a prolific author, writing articles to educate the public on a wide variety of topics. Ms. White-Glanders has a degree in Journalism from Ball State University. She spent several years working in the legal department of a collection agency, giving her a unique perspective on how credit works.Accurise Reviews.