6 Most Important Tips to Rebuild Your Credit FAST!
A lot of people don’t realize it but inaccuracies on credit reports are EXTREMELY common. In fact, the vast majority of Americans have some form of inaccuracy on their credit report that is keeping them from getting the credit they deserve.
You are obviously making a move in the right direction to get your credit cleaned up and back on track, (since you are here on this site). However – while cleaning up your credit report is awesome, an equally important thing you need to do is educate yourself so that you won’t fall back into the same bad patterns that got led you into credit trouble in the first place.
If you begin a credit repair process and you continue to apply for credit, pay your bills late, or max out your credit cards, your score will suffer.
Below are the 7 Most Important Tips to Build Your Credit FAST!
1) Don’t apply for credit. Each time you do, your score suffers a hit. Specifically stay away from applying for new credit when you are in the midst of a credit repair process.
2) Don’t co-sign. When you co-sign on someone else’s loan, you’re agreeing to be responsible for it. If that person doesn’t pay the bill, your credit score suffers. We know…we know…you want to help out your cousin Ray…but chances are he is not going to pay on time because if he was paying his bills on time – he wouldn’t need you. Let that marinate…
3) Pay your bills on time. It would seem that this would go without saying but sometimes we all need a reminder. Most people don’t realize that just one past due payment (even 1 day late) can decrease your score by 100 points. Ouch! If you’ve accidentally missed a payment call the credit card company immediately. If you’re a good customer who normally makes on time payments many companies will often waive a past-due posting if you ask.
4) Pay credit card balances down to less than 25% of the available credit line. If your credit line is $10,000, never use more than $2,500. Never max out your credit cards, even if you pay them off each month. This quick trick will boost your score.
5) Monitor your credit with a credit monitoring service like Credit Check Total or at the very least, get a free Credit Karma account.
6) Have patience. Your credit didn’t develop challenges over night therefore you cannot expect that all of your credit challenges will go away over night either. Understand that the credit bureaus are slow. Scores don’t change overnight and the creditors don’t report changes to the bureaus immediately. It all takes time. Have patience with the process.
If you are ready to move forward with having us help you restore your credit, be sure to click here to learn more about how to get started.