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Tips for improving your credit score with high credit card debt

Anyone in debt knows the many difficulties that can come with being in financial trouble. Having overwhelming debt not only makes it hard to get out of debt, but it can also negatively affect your credit score for many years. For that reason, many people in the Tampa area might be under the impression that one cannot improve his or her credit score if he or she has serious debt.

However, there are in fact some things one can do to improve a credit score even with bad credit card debt. Of course paying down credit card debt quickly will always help improve one’s credit score, but not everyone has the extra cash flow to do just that. If that’s the case, there are other measures one can take.

According to an article in USA Today, one helpful tip to improve one’s credit score is to pay off credit card debt on time. Paying credit card bills on time is huge factor to improve one’s credit score, because a person making his or her monthly payment on time determines 35 percent of his or her credit score.

Another way to help improve a credit score is to quit signing up for new cards. That’s because 10 percent of one’s credit score is determined by how many new credit inquiries are initiated. When people repeatedly sign up for new cards this could signal a struggle with finances and therefore hurt one’s score.

Meanwhile, according to DailyFinance.com, another way to help discharge credit card debt and help improve one’s credit score is to check for, and fix, any errors. People can get free credit reports from many credit-reporting agencies, which allows them to find any errors that could negatively affect one’s score.

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