Tips To Improve Credit Score

Easy Steps to Improve Credit Score

While many people feel it’s an impossible task to fix their credit themselves, I’ll show you just how simple it is to give your score the refreshing boost that you deserve. After all, your credit score is one of the most important numbers in your life. Following these simple steps can improve your credit score and better your chances for lower interest rates with credit cards, mortgage and car loans.

The first step you can take to improve your credit score is to fix any errors on the report. Let’s face it we all make mistakes so would you find it hard to believe that the people reporting to the bureaus are not doing the same? The Federal Trade Commission reports that 1 out of 5 people has an inaccurate credit report. You can get a free copy of your 3 credit reports from www.annualcreditreport.com or by calling 877-322-8228. Look for anything that is not yours or seems incorrect, (credit-card accounts you didn’t have or a late payment that you didn’t believe was late, even the misspelling of your name). Dispute errors with all 3 agencies, the burden to prove the accuracy of your credit report then shifts to the reporting agency. Have anything beyond seven years of initial reporting removed from your credit report, these items do not automatically drop off. Bankruptcies are different, they can only be cleared after 10 years.

Secondly, don’t place all the blame on others for your mistakes. Yes, we all fall into hardships or victim of forgetting when bills are due; it’s okay, we’re human and it’s a cycle that we all go through. If this weren’t the case, there would be no need for me to be writing this blog. Catch up on all your bills and moving forward stay current. Even if you have to set reminders on your phone/calendar or set up an auto-pay method for billing. Many banks now offer auto-pay as a free service to its clients and most companies allow you to set up an auto-pay method by phone or internet. If you know you’re about to cross the due date of a bill, call and ask for an extension. Most companies don’t report to credit agencies until after 60 days. Please don’t push it though, some do report on the 30th day.

Please heed me when I say, DO NOT close credit cards that you’ve had for a while. This establishes a length of credit and looks good on your report. The older the better. If you have a card with an annual fee, request to have it switched to a card without a fee.

For those who have little to no credit, start off by placing your apartment and utilities in your own name, this will establish a regular payment history under your own name and Social Security number. Apply for a secured credit card with your banking institution. Try avoiding retail store credit cards, their high interest rates (even for those with good credit) and low credit limits are not worth the hassle.

As a last tip keep track of your score. There are a few sites that offer free credit scores along with the report. Use creditkarma.com, quizzle.com, and creditsame.com. Using these steps are a surefire way to begin seeing improvement to your credit score.

Washington, D.C. Homes For sale and Real Estate Service. Sherman Hardy is your local Real Estate Expert for Washington, D.C., and surrounding areas. You now have free access to Washington, DC Ultimate Real Estate Search Engine! Google or Call me Today and let’s discuss how I can help you. Sherman Hardy 301-659-5004

 

 

 

 

 

                                          

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