Improve Your Credit Score…..

I’m blogging here on the run – gotta run some errands – thought I’d toss some ‘credit repair wisdom’ in your lap. 

Credit repair is complex procedure and it takes some time to see results. Lots of variables to consider, things to address and you certainly can’t do expect that to happen overnight.

But there are things you can, or certain habits that you can cultivate, that will help you expedite the whole process and allow you to see some immediate improvements.

Here are a couple of them:

  1. Don’t Max Out on Any Card – Have some balance on every one of your cards. 30% of the credit score is the credit to the balance ratio. Maxing out on each of your cards communicates bad spending habits and it’ll show on your credit report.

Have 20% balance on each of your cards….it’ll keep you from overspending and contribute to your credit score.

  1. Stop Borrowing More Money – Whenever you borrow money – try to qualify for a loan of any kind – the lender will perform an enquiry to check your credit report and find out about your past spending habits.

Every time this inquiry is made, it further lowers your credit score and reflects badly on your report. The lenders take these inquiries as a red flag. I mean, if there are so many inquiries, there must be certainly something wrong with the spending habits of this person.

Unfair, I know. But it is what it is.

The best option is to not take any loan until you pay off the first one or at least, till you get your credit in good shape.

  1. Schedule automatic payments – Creditors look for good borrowing habit when deciding what rate to give you.

Which means a record of timely payments definitely helps. The more the payments, the better your record.

You can do this by scheduling automatic monthly payments on your credit card for things that you’re bound to use…..utility bills, electricity bills etc. The timely payments will all add up your credit score will take a turn for the good.

You’ll see a big spike in your credit score if you follow these 3 tips. And even a small improvement in credit score translates to a lower mortgage rate which comes up to hundreds of thousands of dollars over the course of years.

If you want to improve your credit score too and are looking for a competent professional with a proven track record to help you, click here to get your free consultation.

Just enter your name, email and phone number and give us the permission to call you. One of our experts will get in touch with you and in 10 short minutes devise a customized plan for you to help you get your credit ‘mortgage ready’.