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Pitfalls to avoid when repairing your credit score

Residents of Washington D.C. who are struggling with credit card debt are also likely looking into ways to manage, restructure, and combat their financial problems. Part of recovering from credit card debt is repairing one's credit score, which has likely been substantially damaged. However, people seeking to fix their credit score should keep their eyes out for potential pitfalls that can actually do more harm than good.

FICO suggests a few common credit score repair mistakes that should be avoided. This includes opening additional credit accounts to increase the available credit, and closing unused credit accounts as a temporary boost to the overall credit score. Both of these strategies may seem like good ideas in the short term, but that's about all they're good for. In the long term, these practices can actually lower a person's credit score even further, because they can be seen as red flags of unreliable financial behavior.

Additionally, Forbes has tips and tricks for quickly raising credit scores. This includes being a responsible credit card user and developing good habits when it comes to credit use. For example, a credit card user shouldn't be hitting the limit every month, nor should they be paying their bills late. Paying the minimum should also be avoided. Additionally, credit card users should be checking frequently to see what their credit limit is. This ensures that they won't go over it or come too close to hitting it, and will also allow them to detect any changes made to their limit shortly after it happens.

In following these tips, a user can generally see improvement in their credit score fairly quickly. Of course, it's also important to keep in mind that credit score improvement does not happen overnight, and that good habits must continue for a long time into the future.

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