Tips To Improve Your Credit | Christy Buck Team

    Unfortunately, low credit scores are not a quick fix. Here are some tips to rebuild your credit and manage it responsibly over time!

    1. Know your credit score!

    Credit scores range from 300 to 850 and the higher, the better. To qualify for a home loan, you need a score of atleast 620 and 740 to get the best interest rates and terms. These scores are based on whether you’ve paid personal loans, car loans, credit cards and other debt in full and on time in the past.

    2. Pay every bill on time!

    A few late payments can cause a lot of damage to your credit score. The simplest way to make a big difference in your credit score without altering your spending habits is to pay all your bills on time.¬† Late fees add up and you will initially save money by paying bills on time. Credit card or mortgage companies probably won’t report minor late payments, those less than 30 dats overdue, but you will still have to pay late fees.

    3. Correct errors on your credit report.

    If you find mistakes on your credit report, write a letter to the credit-reporting agency explaining why you believe there’s an error. Send in documents that support your case, and ask that the error be corrected or removed. Also write to the company, or debt collector, that reported the incorrect information to dispute the information, and asked to be copied on any materials sent to credit reporting agencies.

    4. Use credit carefully.

    A good way to boost your credit score is to pay your credit card bills in FULL amount! If you aren’t able to do that, than pay as much over your minimum payments as possible to get rid of the debt.

    5. Don’t use all of the credit you are offered.

    Credit scores are also based on how much credit you use compared with how much you are offered. Using 1,00 of your available credit will give you a lower score than aving$1,000 of available credit and using $100 of it.

    6. Keep credit card accounts open.

    Keeping a credit card for a long time and managed it responsibly, it will work in your favor. Opening several new credit card at once can push your score down. Also, closing your credit card accounts can lower your score as well. Keep your credit cards open even if you are not using them.

    7. Be patient!

    It takes time for your credit to build once you’ve begun working to improve it. The more you keep up with your credit card bills and paying them on time will help your score out. Set up a payment¬† reminder on your phone, paper, or laptop to pay at the same time every month to stay organized!

     

     

     

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