The Secrets To Raising Your Credit Score
Boosting your credit score won’t happen overnight. It’s a slow and steady process, especially if you haven’t managed your money the best way in the past. All the little things are taken into account; it’s not just about your current situation. – Here’s what you can do to improve your score.
Pay bills on time
It really is as simple as that. If you’re about to purchase something that’s really pricey, like a car or a home, you’ll be all over the place trying to get enough money together. All this happening while you’re juggling your bills. The worst mistake you can do is pushing bills to one side and dealing with them later. The best way to keep your credit score up is regular payments that are on time.
Ask for help
There are plenty of businesses out there that work specifically to help you repair the problem, like fixmy.credit. They not only give you their professional advice, but they study your credit until they understand all the ins and out. That way they are able to supply you with the best techniques you need to save your poor credit score.
Watch credit card balances
If you have many different credit card balances, it may be a good idea to consolidate them by taking out a personal loan.
Something important to understand is that even if you pay your balances every month fully, you may still have a higher utilization ration than you may have thought. This is down to some issues using the balance on your statement as the one that is reported to the bureau. You can avoid this by asking if the issuer will accept multiple payments throughout the month instead.
Leave old debt on your report
A lot of people will think that old debt on their credit report will tarnish it. While negative items are bad for your credit score, trying to fight to get them off your report because they have been dealt with isn’t a good move. Debt that has been paid off when agreed, is actually good for your credit. It shows that you are responsible and reliable, so don’t try and hide them, leave them there.
Eliminate credit card balances
If you have quite a few different cards – get rid of them. You only need one or two to live off. One for paying your bills and utilities, and the other for your personal life. So gather up all of your credit cards and any with an outstanding balance on – pay them off and then get rid of them. By doing this, you’re no longer able to pollute your credit score with irrelevant balances.
Don’t take the risk
If what you’re about to do seems a little risky – don’t do it!
The worst risks are missing payments or paying off less than you’re supposed to. This will immediately make your issuer wary and question what the problem is. Doing this will most likely make a dent in your credit score, so ask yourself if it’s really worth it.