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You can improve your credit rating by following a few simple steps and sticking to them.

1- Start by knowing your credit score; get a copy of your credit report.  Once a year you can request a free copy of your credit report from Equifax, Experian and Trans Union, by going to http://www.annualcreditreport.com.

2- Pay your bills on time; payment history makes up about 35% of your credit score.

3- Apply for credit cautiously; you can start with a secured credit card where your line of credit is based on the amount of money you put into a bank account.  Pay off your bill in full each month; you don’t have to carry balances in order to build good credit.

4- After 1 or 2 years consider getting a car loan or line of credit.

5- Be careful of “Credit Repair” services; their fees can be expensive; you can rebuild your own financial future at no cost, compared to services that charge.

6-Know the limits on any credit card you have and keep your balance well below that limit; use your card(s) sparingly and pay the bill on time.

7- Don’t close current accounts if you can afford to keep them.  Closing accounts reduces the amount of credit available to you which can lead to a lower credit score.

Improving your credit rating won’t come overnight so be patient.