Frequently Asked Questions
3 TIPS
to increase your credit scores
If you're planning to purchase a home, buy a new car, or have great credit, you'll want to know there.
Credit Tips
4 min read
| Money grows on the trees of persistence. - Japanese Proverbs
Quick Summary:
Hey there, friends! Let's talk about something that affects all of us - credit scores. Incresaing your credit score doesn't have to be a daunting task. Here are three simple tips to help you make progress:
Keep An Eye On Your Credit
Manage Credit Card Usage Wisely
Address Any Unfair Negative Items
Plus, we'll throw in a bonus tip to ensure your payments are always on time. Let's dive in!
CREDIT TIPS
Keep An Eye On Your Credit
Manage Credit Card Usage Wisely
Address Any Unfair Negative Items
Here are 3 tips broken down to increase your credit scores! 👊
Here are 3 tips broken down to increase your credit scores! 👊
Tip 1: Keep An Eye On Your Credit
You know how they say "knowledge is power"? Well, it definitely applies to your credit score. Keeping track of your credit helps you stay in control of your financial situation. Here's what you can do:
Check Your Credit Reports: Get a free credit report from Experian, Equifax, and TransUnion once a year. Look for any errors or discrepancies that might be hurting your score.
CreditMonitoring Services: If you want to stay updated more frequently, consider using credit monitoring services. They'll keep you in the loop with real-time credit score updates. (Click here to receive a copy of your 3 Bureau Credit Reports).
Set Up Alerts: Setting up alerts on your credit accounts can save you from unpleasant surprises. You'll receive notifications about important changes, like missed payments or new accounts.
Tip 2: Manage Credit Card Usage Wisely
Credit cards can be handy, but we need to use them wisely to avoid trouble. Let's explore some strategies:
Pay Down Balances: If you have credit card debt, focus on paying it down. Reducing your balances helps improve your credit utilization, which is a fancy way of saying how much of your available credit you're using.
Spread Out Your Spending: Instead of maxing out one card, try to use multiple cards for your expenses. This keeps your credit utilization lower on each card.
Credit Limit Increase:Requesting a credit limit increase can also help your utilization ratio, as long as you don't go on a spending spree.
Bonus Tip: Ensure On-Time Payments
Paying your bills on time is a simple yet incredibly effective way to maintain a good credit score. Let's make sure you're always on track:
Set Reminders: Use your phone or calendar to set reminders for payment due dates. No more forgetting!
Automatic Payments: Consider setting up automatic payments for at least the minimum amount due. It ensures you won't miss any payments accidentally.
Communicate with Creditors: If you're facing financial difficulties, don't hide. Reach out to your creditors and see if you can work out a payment plan that fits your situation.
Tip 3: Address Unfair Negative Items
Sometimes, mistakes happen, and they shouldn't be a burden on your credit. Here's how to handle those pesky negative items:
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Review Your Reports: Take a close look at your credit reports to identify any inaccuracies or unfair negative items, like late payments or accounts that aren't yours.
Gather Supporting Documents: If you find any errors, gather evidence to back up your claim. Collect payment receipts, account statements, or any documentation that proves the information is incorrect.
Dispute the Errors: Reach out to the credit bureaus and file a dispute with the supporting evidence. They are obligated to investigate and correct any errors they find.
Summary:
There you have it, folks! Three practical tips to navigate the credit maze and improve your credit score. Remember, small steps can lead to significant progress. By monitoring your credit, using credit cards responsibly, and addressing any inaccuracies, you'll be on your way to a healthier credit score. And don't forget the bonus tip - staying on top of your payments ensures a smoother credit journey. Happy credit building!
So what now?
We understand what it's like being denied for a home, a new car, or the cost involved with not having good credit. Increasing your credit scores can take time and hours to work on building positive credit and disputing negative information on your credit reports. There is no magical letter that will remove everything, but with persistence and consistency, anything is possible.
If you are looking for help on ways to increase your credit scores, and would like to speak with someone from our team, use the calendar below to book a free call and we'll look into the best methods to improve your scores.