Credit scores can be a touchy subject. For better or worse, your credit history can have a significant impact on many aspects of your life, including apartment approvals, loan and credit card approvals, insurance rates, and in some instances even getting jobs.
If you’re one of the many Americans struggling with a low credit score, this could mean that many of these important things may seem very difficult to obtain if not virtually impossible. What is even worse is that once your credit score suffers it can be very difficult and time consuming to try and raise it back up.
This is where we can help! We firmly believe that everyone deserves a chance to achieve financial freedom, and improving your credit score is absolutely possible. It can seem overwhelming, but with these 5 Simple Steps To Improve Your Credit Score, you can be well on your way.
1. Investigate your credit report
The first step in improving your credit score is understanding where you currently stand. As any good credit repair professional will tell you, “if you can’t measure it, you can’t manage it.” a record of your credit history will include information about your credit accounts, payment history, and other specifics.
You can find mistakes, fraudulent activities, and negative marks on your report that could be impacting you. It might be stressful to dig into everything, but you need to know your situation before you can begin to fix it.
2. Dispute errors
It is not at all uncommon to find errors or fraudulent activity on your credit score. If you do find these negative marks it is essential to dispute them. Disputing errors can help improve your credit score by removing negative, inaccurate items that are driving your overall score down.
3. Pay Your Bills on Time
It is very important to pay all of your bills on time. Payment history is one of the most significant factors that goes into determining your credit score. Late or missed payments can have a significantly negative impact on your score. An easy way to make sure you stay on top of your bills is to set up automatic payments or reminders close to the payment deadline.
4. Reduce your credit utilization
Credit utilization is the amount of credit you’re using compared to your overall credit limit. An ideal credit utilization is any amount under 30% of your limit For example, if you have a $5,000 credit limit, but your balance is always above $1,500 then you’re score might be negatively affected.
If this is your situation, focus on paying down your balances to reduce your credit utilization to see an increase in your score. Additionally, increasing your credit limit is a solid way to lower your credit utilization if you’re struggling. Increasing your limit may seem risky, but if you focus on keeping your balance low, it can actually help!
5. Seek professional help
If you’re already struggling with bad credit, we are sure you’ve already thought about how you can dig yourself out of a hole and reestablish a strong credit score. We get it, it can be very overwhelming. The good news is you don’t have to do it alone. Seeking professional help can be a very quick and effective way to improve your credit. These services will work with you to understand your situation, identify where you can improve, and help you do it.
Ready to get started?
A good credit score is essential for achieving financial stability and security. By following these steps, you can take control of your finances and work towards a better life for yourself and your family.
Are you interested in turning things around but don’t know where to start? We suggest our partners over at Honey Credit Repair.
At Honey Credit Repair, you will receive professional help to guide you through every step of the credit repair process and get your score back up to where it needs to be to achieve your financial goals. And as a special treat, mention this article when you call to get 25% off your first month of service!
Call (720) 806-4588 to get started and find out how they can help.