Checking your credit score is the first step to take while focusing on rebuilding your scores. After getting your scores, you will also get updated about the factors that have a significant impact on your credit score. With these factors, it will be easy to note the areas to focus on so that you can improve your scores. However, you must be patient enough to allow the creditors to report the changes I know patience is a virtue and sometimes when you are a boss, patience just aint yo thang! Yep I said that!
Check out some simple tips below:
Don’t be late! If you have been late before it’s okay time heals everything! Lenders check to see if you pay your bills on time! Past payment performance makes up 30% of your credit score so guess what, it is important! Hey, don’t fret if you mess up and miss a payment call the creditor a lot of them will be willing to remove the late if there is no history of late payments. If you have been late time heals a late one year ago does not impact your score like a late yesterday! So keep your head up and pay your bills on time! If you can’t and you just don’t have the money, call the creditor get on a payment plan, they will stop interest payments and everything! Don’t just sit in your bed and rock take action!
Ensure Credit Card Balances Are Low under 30%The credit utilization ratio has a significant impact when it comes to credit score calculations. My easy rule of thumb is to look at each card and make sure you are under 30% of your utilization. You need to keep in mind that all cards may not show up on each bureau so if you stay under the 30 % that will help increase your score immediately! If you don’t have the money to pay down the card then ask for a credit increase. Now if your credit is bad this will not help you because you will most likely get declined and your score will go down because now you have another inquiry! You would need someone that guarantee cards and report to all three bureaus! You could piggyback off a family members good credit! I helped my 19-year college student get a 750 credit score by doing this.
Never Close Your Credit Cards You Don't UseIt is crucial to keep your unused credit card open if they don’t cost you anything. Don't close them since this is likely to make your credit utilization ratio to increase. You're likely to lower the credit card scores if you owe the same amount but have fewer open accounts. However I would occasionally charge something just to keep them active. Having a zero balance does not help you!
Never Open Several Credit Cards at One TimeYou can quickly increase the overall credit limit if you apply for another credit card. However, you will end up creating a hard inquiry on the credit report when you open a new credit card. Several hard questions are likely to hurt your credit score negatively.
Just wanted to share a couple of tips to help boost your score within the next 30 days! If you are still having problems and need to get some negative items removed think about Credit Hope Repair! We would love to help get you on the right track to meeting those credit goals!
You can give us a call at 855-273-4673 or catch us on the web @ http://credithoperepair.com/index.html or email us @ firstname.lastname@example.org