Effectively Improve Your Credit Score With These Valuable Tips
If you have bad credit and you want to improve it fast, then you should know that this is more like trying to lose weight. There are no quick fixes and you need to be patient about it. In fact, if you want to consider quick fixes, they’re only going to backfire on you, so make sure you don’t take any advice that promises it can help improve your credit score fast, since that’s not possible.
Luckily, below we’ve come up with some great tips that can help you steadily improve your score and have the peace of mind that soon you’re going to qualify for a wider range of mortgages and loan options.
“The way to develop self-confidence is to do the thing you fear and get a record of successful experiences behind you. Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.” — William Jennings Bryan
Always Pay Your Bills On Time
If you don’t want to negatively impact your FICO score, then it’s very much recommended to pay all your bills on time. Some people may say that if they’re a few days late it’s not a big deal, but that’s not true. In fact, even if you’re one day late, it’s still going to negatively affect your credit score.
Get Current And Stay Current If You Missed Payments
If you pay your bills on time, every time, then you’re soon going to see an increase in your FICO score. What’s best is that older credit issues will count for les, so even if you have a poor credit performance it’s not going to haunt you permanently. The secret though lies in making sure you make your payments on time, so try not to miss making them.
Increase Your Credit Limit
It’s recommended that you speak to your creditors in order to increase your limit, so you can make your card good for up to 3000 dollars. However, just make sure you’re careful with it: this is a method that’s proven to give great results, but only if you are financially disciplined and do not engage into mindless spending. One thing to keep in mind is that if you have a collection account and you pay it off, it’s still going to be on your credit report for 7 years. That’s why being financially disciplined is very important when trying to increase your credit rating.
Check Your Credit Report
Last but not least, in order to make sure you’re on track with your efforts of increasing your credit score, it’s vital that you check your credit report. You can easily do that through a credit reporting agency which is also free. All in all, by following these tips, you’re soon going to increase your FICO score and qualify for a wider range of mortgage loans.