?Over 30 million people in the U.S.A. have FICO credit scores low enough, that?s less than 640, to make shopping for low mortgage loan rates very difficult at best,? states George Lincoln, Vice President of FreeFinancialConsulting.com

FreeFinancialConsulting.com provides free financial consulting to the public in all areas of personal money matters including home mortgage loans and credit repair.

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

?A FICO credit score can range from 300 to 800, but most borrowers fall into the
600-800 FICO credit score range,? continues Lincoln.

?A high FICO credit 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 youve had a few credit "bumps in the road" recently, and youre 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 credit score. 30 days or more late on one account can lower your FICO credit score 50 points or more. If you dont like writing checks, go online and automate your bill paying.

2. Dont 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 cant see a way out.

5. Keep old paid off accounts in an open status. If you close an account, it wont help your FICO credit score but it could lower your FICO 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 youve had credit.?


?If your FICO credit scores are over 640, but you want to raise it, obtain a copy of your credit report and request that the credit bureau remove any errors,? concludes Lincoln.

About the Author:

FreeFinancialConsulting.com provides free financial consulting on personal money matters including home mortgage loans and credit repair. For more information improving credit score please call 866 398 4664 or go to http://www.FreeFinancialConsulting.com