You know that a higher credit score will open all kinds of doorsfor you. You be eligible for lower interest rates on loans,maybe qualify for a home mortgage, and even pay lower insurancepremiums. And you know that three companies compile the reportson which your credit score is based. But can you raise yourcredit score without contacting the three credit bureaus? Theanswer is yes, and we will tell you how in this article.The answer to improving your credit rating lies in raising yourhigh credit limit and lowering your debt to credit ratio. Whenyou open an account with a lender or credit card company, theyset a credit limit for you. But if you have a low credit score,good luck in getting a standard (unsecured) credit card. Thereare other options, some good some bad. Let's take a quick lookat three of them.Sub-prime Credit Cards. This type of credit card offers only asmall amount of credit, sometimes only $300. Yet they maycharge very high fees. You might get hit with an applicationfee, an account set-up fee, a monthly "participation" fee, andthen an annual fee. After you add up all the fees, and youwon't have much credit left. Stay away from the sub-primecredit card; if you're not careful they can actually hurt yourrating.Secured Credit Cards. There is another type of card thatfamilies with low credit scores can obtain - the secured creditcard. These typically require a cash deposit. For example, ifyou put $500 in your secured account, then you can go out andcharge $500 worth of goods and services. So why not just spendthe cash? Because using the secured credit card will raiseyour credit limit. But be sure to comparison shop - somesecured credit cards have high fees.Sub-prime Merchandise Cards. An easier way to increase yourline of credit without getting into a financial bind is to get asub-prime merchandise card. These allow you to buy merchandisefrom a specific store (usually the company that sold you thecard - often an online retailer). You are required to put downa deposit on whatever you purchase, and then the balance isfinanced on the merchandise card. The advantage of themerchandise card is that this new credit line is reported to themajor credit bureaus. For example, if you get a $5,000sub-prime merchandise card, and you finance a $500 purchase,your high credit limit will be increased by $5,000, and thesmall outstanding balance will help lower your debt-to-creditratio. Of course, a sub-prime merchandise card is not like a VISA orMasterCard. You can't go to any gas station or food store andexpect them to accept it. And before you select a card, makesure that the provider does report to the credit bureaus,otherwise the card will not meet your objective.There are ways to increase your credit score without contactingthe credit bureaus. Carefully consider your options, and thenmove forward. There is never a better time than right now tostart improving your credit.http://www.CreditSecretsMatrix.comJust copy and paste http://www.CreditSecretsMatrix.com in yourbrowser’s address bar.
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