Credit Tips
Here are some very important credit tips for you to use to fix your credit yourself.

What is a credit score?

A credit score measures your creditworthiness whether you know how to utilize money or not. It determines your credibility for granting you a loan or not. It gauges how likely you’re to return loan or not. Good credit history makes you an attractive loan customer.

Why is credit score important?

Your credit score determines whether you are trustworthy enough to lend you a loan or not. Lenders get your credit history by going through your credit score. For buying a house, a car or other investments you’ll need a loan, your credit score will help the lender to trust you with his money. Your score is not only important for a loan; it plays a pivotal role in buying or renting an apartment too.

STEP 1:  Check Your Credit score

The very first thing you should do is check your credit scores to see where you stand.
Credit Sesame 100% Free Credit Score & Credit Monitoring no credit card needed to sign up and check your scores.

You’re probably going to want a score of seven-twenty (720) or above. Anything less than that may result in rejection or a high interest rate.  Although, you don’t need a perfect credit score or even high score to attract lenders, an improved score would definitely make the purchasing process easier and the rates lower no matter what you are trying to buy.

Would you like someone to do it for you?  Schedule your free consultation here.

Step 2:  Dispute any errors on your credit report.

There are tons of errors that could possibly be made on your credit report that you know nothing about.  Be sure to look over your report in it’s entirety and dispute everything that’s incorrect.

Step 3:  Get a secured credit card

The easiest way to boost your credit score without hassle is to get a secured credit card.  This means that you will fund your own card with your own money.  There are banks that are willing to help you re-establish your credit by reporting your good payment history to the credit reporting agency, but if you are considered high risk (which is bad credit), they may not be willing to offer you a line of credit with their money, but they will allow you to start a line of credit with your own funds.  You can usually take about $200 – $500 to start.  Whatever you send in to the company will be used as your line of credit.  So the bank is not losing any money if you don’t pay your bill.  After you have proven to have a good spending and payment history for approximately six months to one year, most banks will offer you a credit increase.  Or, your credit score should be high enough to apply for other credit cards elsewhere by this time.

Step 4:  Cut back on unnecessary expenses:

Cutting back on your unnecessary expenses would help you increase your score. By having a look at your expenses you can figure out the unnecessities which increase your monthly budget and make you spend more money than you actually need.

Take a note on the negative score:

You should take a note on when negative records expire.  Usually, your negative records expire in a maximum seven years no minimum time is mentioned. This is another way to fix your credit yourself.

Step 5: Pay your bills on time:

This will automatically increase your score and make you look financially responsible in the eye of your lenders and save you from paying any exceeded interest.

Step 6: Ask your creditor to increase the amount of allocated money:

Apparently, your credit score is highly influenced by the extra money you use from the allocated money. As your allocated money will be increased, you would not need any extensions.

Don’t cancel your previous cards:

Canceling your previous card would demolish the ten year or good credit record which would turn out to be a poor credit record and is less likely for the lender to trust your ability to repay his money on time.

Looking into other forms of the extension would help:

Looking for other forms of extensions such as grocery store card, house or car on installments would help you to use less money. As you’ll use less money than the allocated it would lead to a better credit score.

Step 7:  Consulting debt relief counseling:

It’s nice to have someone who guides you through rough sport, that is why credit counseling is important. They will work with you and your lenders both to create a better understanding.

There are various companies that help with this

Go to National Debt Relief  for a free consultation today