HOW TO REPAIR YOUR CREDIT

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.

Check Your Credit Reports- Everyone makes mistakes, even credit reporting companies. By checking your reports periodically, you can catch any mistakes before they get out of hand.

For more tips on how to repair your credit or to find out what your credit score is, click on one of the following links.

https://www.creditkarma.com
https://www.credit.com/free-credit-score/
http://www.experian.com/

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/