We all have been a situation where our credit score is bad and yet we want to get a home or a car.

So how can we improve our credit score?

By following these few tips.

Tip #1. Be patient. Remember that improving your credit score will be like losing weight. You may not see the results right away but it is the long term benefit of your good habits that will make all the difference. There are no quick fixes to improve your credit score and best way is t to be responsible over time.

Tip #2. Check your credit report for errors. If you don’t know what your credit score is, then you will need to obtain a credit report. You can request a free copy of your credit report and check it frequently. There might be an error on the report that is making your score appear worse then it should. If you do find an error, you should contact the credit bureau to fix this error.

Tip #3. Set up payment reminders. If you have trouble remembering to make your payments by the due date, this can be one of the biggest negative factors bringing down your credit score. You can ask your bank to set up convenient reminders through the online banking portals, so that you will receive an email or text whenever your payment is due.

Tip #4. Don’t overspend. Most people get in trouble with their credit score because they over spend on either their budget or their credit card limit. One way to make sure you don’t over spend is to make a budget for yourself and keep it where you can see it. This budget will help you see what you need to pay and what money you have left over to save. The limit on the credit card is there to protect you from going over what you can afford, but most people tend to ignore it. By ignoring this limit you can get decrease your score. One way you can make sure you don’t spend over your limit is to not spend money you don’t have. If you can’t afford to pay the credit card payment, then you can’t afford to buy that item on your credit card.

Tip #5. Make overdue payments or paying down credit cards. One of the most common ways that hurt a person’s credit score is having payments overdue and not being paid. If this is you, then you need to pay the overdue payments. If you have credit cards that are maxed then you need to pay them down. This will help you by telling the credit bureaus that you are trying and that you are responsible.

 

While these are only a few of the ways you can increase your credit score, these will help you in the long run.

Any questions or concerns please feel free to contact us.

Thanks for installing the Bottom of every post plugin by Corey Salzano. Contact me if you need custom WordPress plugins or website design.

Share

No Comments on Aug 8th 2013

Leave a Reply