Your credit is one of the most important things that you have that is personally assigned to nurture and develop, whether you are ready or not. It is like having a unplanned baby, okay its not that drastic LOL but it is very important! It is with you and it is no-ones responsibility besides your own. Your credit can either make you proud by providing a means to getting you approved for a lower interest rate loan, or it can really disappoint you because your were denied because of your poor credit history or lack there-of. So whether you are planning to buy a house, car, or you just want to apply for a credit card with more perks to it, you can achieve better credit with five easy steps.
1. So if you have a lot of bad stuff on your credit, you just need to clean it up! When I say "bad stuff", I'm talking about collections, 30 day late payments, old inquires more than 6 months to a year old. This will take you about 45 days to 60 days do, but it is worth the effort. With help with removing inquires and disputing late payments try Score Master. This app allows you to track your score, dispute inquires, "bad stuff" and simulate credit for future use and or payoff of debt. Each inquiry is worth about 10 points the older the credit inquiry the easier to delete. Deleting that debt now is getting harder to remove because creditors have become more savvy and finding ways to keep it on your report. I would suggest freezing your credit report before trying to delete these items.
2. Its nothing wrong with the word settle. Hey if you have collections on your credit and you have a few extra bucks, call the collection company and settle the account. My general rule of thumb only offer them 65% of what you are attended to pay them, but DO NOT start negotiation more than 50% of the balance. Stay firm on your amount. Collections companies buys debt for pennies on the dollar so they are not loosing ANY money.
3. Too few lines can be a problem. How can you establish good history with no history? You should have at least three credit cards, and keep the total of all balance below 25% of your credit limit. Opening up a new charge account can boost your score up to 100 points depending on what is currently on your credit report.
4. Ask a friend or family member if they can add you as a user on your account. Explain to them you don't need a credit card you just want to establish or boost your score. I did this for my nephew. His score was at a 526 prior to me me adding him on to my account and after adding
him just under 30 days his score. Increase to whopping 240, that
is 765 credit score now. He really did not have anything on his credit and the account I added on for him was very old, had a long payment history and the balance is well under 25%. This method can have a big impact on your credit so i encourgage you to ask your TT or Nana if they can do this for your.
5. Use Free Experian Boost® to boost your score. Experian Booster allows you to add your checking or credit card account where your utilities, cable, other subscriptions are being paid from on a monthly basis and it factors this into your credit score. This allows you to increase your score instantly! Sometimes you can see and increase to your score by 30 points.
You can boost your score within 30 days just by doing all of these five or just one or two of them. What's been your challenges of boosting? What score are you trying to reach in the next 30 days? Send me a message I would love to here from you.
Sending All My Good To Ya!
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