Ways To Improve Credit Scores
Great credit scores are not achieved overnight but it is very possible to achieve such scores with a little bit of patience and work. However, negative items ( collections, late payments, Bk, judgments etc…) can drag your scores down and prevent your scores from increasing. In fact negative items will drop your scores significantly. here are ways to improve your credit scores:
- Credit Repair: The best & most effective way remove the negative items weighing down your credit so your credit scores can improve & go back up.
- Establish Good Credit: No credit is bad credit! Build and maintain positive credit
- Obtain Secure Credit Cards: Secured by your own money. What you deposit is your limit. Keep very low balances or pay it off every month.
- Manage Your Balances: Keep your balances on revolving credit at less then 30% of your credit limit (the lower the better!).
- Secondary Account Holder: Family member can add you on their credit card accounts as a SECONDARY ACCOUNT HOLDER thus transferring their credit account history to your credit report.You only want to inherit the good accounts, not the bad so be carefull.
- Pay your bills on time: Late / Delinquent payments and collections can have a major negative impact on a credit score and will prevent you from getting new credit and credit increase. Set up autopay or reminders to prevent missing payments.
- Do not close old credit accounts: Closing old accounts with good standing because you are not using them will cause you score to drop. Keep them open, use for very small amounts, pay them off, and your scores will go up.
- Lessen The Hard Inquiries: Anytime you apply for credit and hard inquiry is generated and your score will drop 5 to points. Keep the inquiries at a minimum.
- Patience and Time: Credit scores take time to improve simple because it takes 40 days for accounts to report to the credit bureaus. so the average is 3 months or so.
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Remember, it is important that you start to establish or rebuild your credit profile, but it is just as important that you have a budget and a commitment to yourself to spend money on the things that are important to you.
Establishing and rebuilding credit can be a lengthy process, but don’t give up! Have HOPE and be committed to the process
Our mission is to teach you how your credit can work for you and at the same time saving you thousands of dollars on your credit & financial needs. Let us Fix Your Credit Now and let your credit brighten your future.