Boosting Your Credit Score- Step by Step

Need Help Improving Your Credit Score???

While there’s no quick fix for bad credit, taking the following steps to improve your credit profile can raise your score over time:

1.  Collections and/or Judgements-  Pay them off, not matter how small
2. Past-Due & Over-the-Limit-  Bring accounts up-to-date.
3. Pay all bills on time-  Stay focused
4.  Try to reduce your credit card debt to 25% or less of your credit line on each card.  Reduce your credit card debt to 25% or lower of your credit line   Example:  $5,000 balance on a credit card, have not more than $1,250 on that card.
5. Do NOT open more credit-  auto, credit card, appliances.  Very tempting but your are trying to get into a home- Keep your eye on the prize; your new home
6. Do NOT close credit card accounts-  This actually hurts you, just pay them off and leave them open.  This shows you handle your credit responsibly
7.  Make a list of all debt.  Payoff any credit with the highest interest rates and/or the one w/ the smallest balance.  Once you have one paid off, move on to the next one.

This is a very rewarding process.  Sounds like a lot to do but you can do it.  Little by little, step by step- you will look back and say “I DID IT!!!!

By |2018-02-07T23:32:23+00:00February 1st, 2018|

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