How To: Improve your Credit Score
Wednesday we broke down what your credit score means and how it can help or hurt you when applying for a mortgage loan, today we are going to break down how to improve your credit score!
Here are 8 tips that can help you improve your credit score:
- Get your credit report – check for errors missed payments and other bad marks
- File a Dispute – Dispute any errors with each of the three credit bureaus, you can also try this with legitimate bad marks
- Switch Up Your Debt – Consolidating your revolving (credit card) debt into non-revolving debt in a personal loan is a better type of credit. Just don’t max out the cards again
- Ask for a Limit Increase – Getting your cards limit increased improves your credit utilization ratio
- Add Rent to your Credit Report – You can earn credit for those on-time rent payements by using sites like RentTracker
- Get a Cosigner – If you aren’t able to get a loan on your own, getting a cosigner can help you start building an awesome credit history
- Ride Piggyback on Someone’s Card – Get added to someone’s credit card so their on time payments help your credit score
- Get Tough with Creditors – Negotiate with lenders, especially those with whom you’ve maybe missed payments.
- Payoff Maxed-Out Credit cards first – and then pay the rest off, always try to make more than 1 payment a month and more than your minimum payment
Well we hope these tips were able to help you get a better idea as to how to improve your credit! Have a great weekend 🏡