So, you’re finding yourself at that point in life where you want to buy a home or a condo, but your credit score is a little bit lacking. It’s not great, but it’s not perfect, either. The goal is to get a better credit rating, which means you’re going to have to do some footwork; reports don’t fix themselves. Remember that increasing your credit score does not happen overnight, but it does get better as long as you are proactive. Get a copy of your credit report and get a word processor ready. You’re going to be doing some work while learning how to boost your credit score.
Following are five tips that help you improve your overall score:
- Examine your credit report with a fine-tooth comb. Mistakes are frequently found on reports, and they stay there until you challenge them. There are plenty of template letters you can use to dispute, or Read the rest of this entry »
The building blocks of good credit are simple and attainable. Follow a few basic rules, and you can establish and maintain a great credit score. Setting yourself to the task today of building good credit will enable you to enjoy the most desirable long term credit scenarios. Here are 5 time-tested techniques you can implement at any time.
- Access Small Amounts Only. This is one of the most basic building blocks of good credit, but also the hardest. In our gotta-have-everything-now culture, the temptation to splurge on materials, goods, and services at the expense of your personal credit is overwhelming. Resisting this urge will provide you with years worth of excellent credit, more credit choices at lower rates and higher amounts. Aim to consistently use no more than 30-50% of your credit limit.
- Baby Steps. Remember all the times mom scolded you for eating too fast at the table? One slow step at a time is a responsible pace for building good credit. Don’t accept every card you’re offered. Envelopes arriving in the mail with pre-approved cards should be treated like the plague. Read the rest of this entry »
Savvy consumers are aware of the importance of their credit score. Some learn how important their credit score is through their own trials in life. If you are like some, you may have applied for a loan in the past and learned that your credit scores are too low to qualify. Others have been fortunate enough to read about the importance of credit scores on their own, or they have learned this lesson from family or friends. While many people are aware that it is important to have a good credit score, few understand what a good credit score actually is.
What the Numbers Mean Continue Reading >>
At one point or another, you may have a period in your life where you find yourself with a low or damaged credit score. Although having a bad credit score can be extremely stressful, there are ways that you can repair your credit and boost your credit score.
Do Your Homework
The first step to repairing your credit is to do your homework before beginning the process. This means ordering your credit reports. Continue Reading >>