HOW TO REPAIR YOUR CREDIT
Good credit is crucial to helping you save money on home
loans, car loans, and insurance. And believe it or not, having good credit can
even help you to land a job or get a promotion. So if you are planning on buying
a home or making another large purchase, or you just want to have a good credit
score, here are some easy tips that you can follow to help get you back on
track. But keep in mind, it won’t happen overnight. Take your time and be
patient, and if you do the following, you will be able to repair your credit.
Pay Your Bills on
Time- Paying your bills on time is one of the best ways to positively
impact your FICO score. When possible, set up auto-pay so you don’t miss a
payment. If auto-pay is not available, set up payment reminders on your phone.
Reduce Your Debt-
Stop using credit cards!! This means that you may have to go without things
that aren’t a necessity. If you don’t NEED it, don’t buy it!
Keep Balances on
Credit Cards Low- High balances can negatively impact your credit score. Always
try to pay off your balance each moth but if that’s not possible, you should at
least try to pay more than the minimum due.
Don’t Close Unused
Credit Cards- When you close out a credit card, you reduce your overall
available credit. So if you do not cut back on spending money, this will have a
negative impact on your credit utilization rate, which is one of the most
important factors used to calculate your credit score. It may be best to just
keep the card.
I am a realtor working in South Florida. If you need help buying or selling a home, please contact me. Also, please view my website where you will also be able to search the MLS. http://www.lindatabaskygoldberg.keyes.com/