The process of credit score improvement is not as complicated as you might think. If improving your credit score feels like an impossible task, keep reading, and I will give you some quick tips. If you follow these tips, you will see credit score improvement in 30 days. Your score will continue to improve as you practice good habits.
Every month your creditors update your activity with the 3 major credit bureaus Trans Union, Experian, and Equifax. They update the account with your account activity for the month, such as account status, monthly payment, number of months, account balance, available credit, payment status, and date of last payment. Basically, they are letting the credit bureaus know if your account is still open, how much you owe, how much credit you have available, and did you make your payment on time. This information causes your credit score to go up or down. There are things you can do to raise your credit score.
Just as a harmful activity ordinarily takes 30 days to report on your credit report, so does a positive action. It is essential to start taking the necessary steps to see your FICO score improvement. By implementing these ideas,you will begin on the path to improving your credit score, thus making life more comfortable.
Ensure Your Credit Report is Accurate
The first thing to do is to review your credit report. There are several ways to get a copy of your report. You can obtain a free copy of your credit report by going to annualcreditreport.com. The report from annualcreditreport.com does not give you a credit score, but it will allow you to review all the accounts listed on your credit report. If you would like to get a copy of your credit reports that has a score, you will have to pay. I have many of my clients sign up for IdentityIQ. The link if you would like to sign up is Click here to sign up for IdentityIQ. Identity IQ will give you an updated report with a score for Experian, Equifax, and Trans Union every 30 days. They also allow you to select one of the bureaus and have daily monitoring of your credit reports. Each member of Identity IQ also receives $25,000 of Identity Theft Insurance. The cost is $21.99 per month.
Once you have obtained a copy of your reports from Experian, Equifax, and Trans Union,it is time to review your credit report. Make sure that your name and address are reporting correctly. Then look at all the accounts that are reporting and make sure there are no accounts listed that do not belong to you.
Now it is time to make some lists. Make a list of all the things that are reporting incorrectly. Removing accounts that do not belong to you will help improve your score. If you find any account on your credit report that are not yours, file a dispute at each of the credit bureaus.
Raise Your Credit Limits
The first thing to do is to review your credit report. There are several ways to get a copy of your report. You can obtain a free copy of your credit report by going to annualcreditreport.com. The report from annualcreditreport.com does not give you a credit score, but it will allow you to review all the accounts listed on your credit report. If you would like to get a copy of your credit reports that has a score, you will have to pay. I have many of my clients sign up for IdentityIQ. The link if you would like to sign up is Click here to sign up for IdentityIQ. Identity IQ will give you an updated report with a score for Experian, Equifax, and Trans Union every 30 days. They also allow you to select one of the bureaus and have daily monitoring of your credit reports. Each member of Identity IQ also receives $25,000 of Identity Theft Insurance. The cost is $21.99 per month.
Once you have obtained a copy of your reports from Experian, Equifax, and Trans Union,it is time to review your credit report. Make sure that your name and address are reporting correctly. Then look at all the accounts that are reporting and make sure there are no accounts listed that do not belong to you.
Now it is time to make some lists. Make a list of all the things that are reporting incorrectly. Removing accounts that do not belong to you will help improve your score. If you find any account on your credit report that are not yours, file a dispute at each of the credit bureaus.
Pay Off Your Credit Card Debt
Your credit utilization ratio is the comparison of the amount of credit card debt you have to the credit limit. Thus, keeping the utilization low is vital. Your credit utilization is 30% of your credit score. It can be worth up to 192.5 points. Make a list of all your cards, your credit limit, and how much you owe. Write down how much 30% usage is on each card and write down how much you must pay to get to 30%. To get the highest points possible, get the Utilization down to 2%. This will give you the most points possible for Utilization, and your credit score will improve quickly.
How to Improve Your Credit Score Fast by Paying Off Your Debt
It is essential to come up with a plan to pay down your credit card debts. If you focus on the total amount, it can seem like an impossible task. Alternatively, break your debt into smaller portions such as I will pay $200 extra every month on the card with the lowest limit first then work your way to the higher balance cards.
Another option is to get a 0% Annual Percentage Rate balance card. A 0% Annual Percentage Rate credit card offers you 0% interest on your credit card balance for a given period. It means you can move credit card debt to a new credit card. It will be easier to pay down a card that will not be charging you interest for 6-24 months.
The disadvantage of this strategy is that it does not consider the interest rate and hence, can cost you more in the future.
Wrap Up
Are you searching the internet looking for ways to boost your credit score? Are you afraid that you can never have an excellent credit score? Do you feel like there is no way out of your lack of credit history may have decelerated your credit score? Know that there are many ways you can increase your credit score, as discussed above.
At Whatcom Credit Restoration, we are a credit score improvement specialist. We help you improve your credit score and remove the inaccurate negative items from your credit report. So, if you have been wondering how to improve your credit score, you need look no further
Contact us today at 1-360-312-7164 or Email – info@whatcomcreditrestoration.com to talk to one of our associates.
