Credit & Debt Consolidation : Increase Credit Rating

This is financial adviser Patrick Munro talking about various ways to increase your credit rating. America operates on credit and the better your rating is the better lifestyle you can have as long as you honor credit in a responsible way. Credit is developed by a credit score. There are credit reporting agencies that banks and financial institutions have set up so they can keep track of the payment history of individuals out there in the market place. There are three credit reporting agencies and if you have a credit challenge where you haven't paid a bill on time the company or credit card company would report that to these various rating agencies and depending on how that works out they will have a credit score. The better your credit score is the better your chances of achieving future credit.

The ways to increase it is don't maintain high balances on your credit cards. Pay them off as soon as possible. Make sure that you always pay your credit card bill on time even if you're making a partial payment. That's very key as well. And of course have access reserves built up in banks so that they also report to the credit bureau as well showing that you're a good credit risk. This is Patrick Munro talking about various ways to increase your credit rating..

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