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In addition, having a high credit rating will also make you eligible for lower interest payments on your mortgage and car loans. Some of the ways by which you can increase your credit score are outlined below. Correct mistakes in your credit report. Since a mistake on your credit report can result in a lower credit rating, it is important to check these reports thoroughly before you apply for a credit card. This should be done well in advance, since correcting a mistake can take anywhere from one to three months and possibly even longer.

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