If you have bad (a 500 credit score to 580 credit score) to poor (a 581 credit score to 639 credit score) credit but want to increase your FICO Score by 150 points then read on to find out how to boost your credit score in the next 6 months.

When you close the credit-card account that you’ve had the longest, it will lower the average age of your credit accounts and drag down your FICO Score.

Debt settlements are where the debt collection agency or creditor agrees to take a lesser amount than what is actually owed in order to eliminate the debt. It is very useful for paying off old debts for less money than what is owed and can save hundreds of dollars when it comes to paying off the debt.

FICO Score is a term used to describe the number assigned to you in relation to your credit. It is simply a number used to represent your financial obligations in relation to your credit history. It is called FICO because this score is determined by software created by Fair Isaac and Company.

Despite the middling economy, a number of credit card companies continue to offer generous 0% APR balance transfer deals and some companies have straightforward offers that last a full 18 months.