Credit scores and money are two things that play a major role in determining what you can have and at what price you can have it.
Unfortunately, credit scores make the world go round. If yours is too low, it can result in being denied for in-store credit, home loans, automotive financing, and more. If your credit score is in the dumps, it won’t be for long as long as you follow these tips to repair your credit score in a month:
1: PAY YOUR BILLS ON TIME
Your car loans, house loans, utility bills, and medical bills each have their own due dates. If you don’t pay your bills on time, your credit score will inevitably go down. Take steps to make your payments on time. Set reminders in your smartphone.
2: GET CURRENT ON YOUR BILLS
If you are late on your payments, catching up with them will go a long way in repairing your credit score. Find out what your balance is and your late fees are and pay them off as soon as possible.
3: SEEK HELP FROM A CREDIT COUNSELOR
Credit counselors can help you set up payments and give you information on programs that can help you pay of your debt quickly.
4: DISPUTE ANY FALSE CREDIT CHECKS
Credit card companies may do hard credit checks on you so that they can offer you a credit card through their company. If they did this without your permission, be sure to report and dispute them. Same goes for any bills that you know to be paid off or with an incorrect amount listed.
5: MANAGE YOUR CREDIT CARDS
Resolve to use your credit card only in case of an emergency. They are great for helping out when times are tough but can lead to a number of issues when used irresponsibly.
6: DON’T OPEN NEW CREDIT HISTORY ACCOUNTS
This can lower your overall credit history and can negatively impact your credit score. Stay away from opening new accounts all at once.
7: DON’T APPLY FOR A CREDIT CARD IF YOU DON’T NEED IT
You are probably OK with only one credit card in your wallet. Don’t apply for ones you don’t need. This will decrease your credit score.
8: WORK ON PAYING OFF A COLLECTION
When you neglect to pay off a bill, it goes to a collection agency. If you have accounts in collection, work on paying it off. If you can make a payment or two in a month, this can increase your credit score.
9: DON’T MOVE YOUR DEBT AROUND
Don’t pay off a debt with a credit card that you will have to pay off later. Instead, come up with a plan to pay off what you owe without owing any more.
10: INCREASE YOUR PAYMENTS
If you have a lot of debt, you may want to consider upping that once-a-month payment to a twice-a-month payment so you can remove it from your account and increase your credit score.