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On the widely used FICO credit score scale, only one in 200 consumers reaches the pinnacle: a score of 850 – a score that has lenders fighting for your business and nets you the best possible interest rates on everything from automobiles to mortgage loans.
In fact, according to Fair Isaac, the company behind the FICO score ratings, consumers who achieve a score of 750 or more are excellent candidates for favorable treatment.
But paying your bills on time and carrying no balances may not be enough to catapult your score to desired levels. Consumer finance experts at The Motley Fool offer simple tips that can help boost your scores into the stratosphere:
Ask for increased credit limits – Not because you plan to use them, but because the higher your credit limits, the less likely you are to use more than 30 percen...
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